The Asia Miner

JUL-SEP 2017

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Volume 14 • Issue 3 | 2017 | ASIA Miner | 19 Papua New Guinea K92 MINING will use the majority of C$16.554 million raised in placements to fund explora- tion and development of the Kainantu Gold Project. Ongoing underground drilling at the Irumafimpa and Kora deposits is returning strong results. In one private placement $13 million was arranged by Clarus Securities as lead agent, on behalf of a syndicate of agents that in- cluded CIBC World Markets, Eventus Capital Corp and Haywood Securities. An additional $3.554 million was arranged in a concurrent non-brokered private placement. Kaninatu covers an area of approximately 410sqkm and was previously mined by High- lands Pacific and Barrick Gold from 2006- 2009. K92 Mining was purpose-built for ac- quisition of the mine. An underground grade drilling program at Irumafimpa deposit has intersected high- grade gold in multiple holes. K92 says a num- ber of the results are important as they show wide, high-grade intersections less than 20 metres from the drill cuddy. Best results are 8.2 metres from 4.8 metres @ 24.65 g/t gold equivalent and 3.2 metres from 14.5 metres @ 4.77 g/t gold equivalent in one hole; and 4 metres from 3.7 metres @ 60.57 g/t gold equivalent, including 1 metre @ 77.79 g/t gold equivalent and 1 metre @ 95.3 g/t gold equivalent in another hole. The as- says include silver and copper mineralisation. Earlier results from the program include the highest grade intersection recorded to date at Irumafimpa of 1 metre @ 244.09 g/t gold equivalent. K92's CEO Ian Stalker said, "The grade con- trol drilling results include some of the widest we have seen to date at Irumafimpa." The underground diamond drilling is part of a comprehensive grade control strategy commenced in September 2016. The most recent results are from an area to be mined in the coming nine months. At Kora, the company is testing for exten- sions and the first exploration hole in this pro- gram returned 5.4 metres @ 11.68 g/t gold, 25.5 g/t silver and 1.33% copper, including 0.75 metres @ 71.94 g/t gold, 168.7 g/t silver and 8.51% copper. "With these results in hand, we will push Kora drive at an increased pace and with an expanded drilling program," Ian Stalker said. The Kora/Eutompi inferred resource is 4.36 million tonnes @ 7.3 g/t gold, 35 g/t silver and 2.23% copper, or 11.2 g/t gold equivalent. K92 CEO Ian Stalker and COO John Lewins inspect the crusher plant at Kainantu in Eastern Highlands province. Funds for work at Kainantu Ever since the company was established in 1924, Tsurumi Manufacturing Co., Ltd. has been engaged in the manufacture, purchase and sale of various pumps and related equipment, including submersible pumps as key products. Now, Tsurumi is presenting its LH4110W pump that exhibits value and power in work fields that require high head pumping or long distance transfer, such as mining, quarrying, construction and tunnel work. The LH4110W is an extra high head pump equipped with dual impellers that produce a maximum head of 200 m or more. The mounting direction of the second (upper) impeller is opposite to that of the first (lower) impeller, thus forming a "back-to-back" configuration. This arrangement reduces thrust load and enhances the durability of bearings. Also, in consideration of wear resistance, high-chromium cast iron is used for the impellers and mouth ring. To ensure thorough countermeasures against wear caused by high pressure in the casing, the labyrinth ring and shaft sleeve are made of 630 stainless steel, which demonstrates particularly better wear resistance and strength over other stainless steels. Additionally, the pump has a "pressure relief ports" that prevents pump pressure from being applied to the mechanical seals. Moreover, the discharge structure of the pump is of flow- thru design that forcibly cools the motor so that the pump can withstand operation at low water levels for a long period time. As with Tsurumi's general submersible pumps, the LH4110W is equipped with an anti-wicking cable entry, motor protector and dual inside mechanical seals with silicon carbide faces as standard features. Tsurumi pumps provide excellent reliability and durability that ensure stable operation even under harsh environments, with the first priority given to a design that enables continuous duty for a long period of time. Tsurumi Manufacturing Co., Ltd. Tsurumi Submersible Extra High Head Drainage Pump - LH4110W -- Max. 230 m head and excellent durability, optimum for high head applications. --

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