The Asia Miner

JAN-FEB 2018

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

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30 | ASIA Miner | Volume 15 • Issue 1 | 2018 Papua New Guinea K92 Mining has defined an initial resource at the Kora North deposit of Kainantu Gold Project. The resource is based on results from grade control drilling and face sampling, and will be used for initial mining blocks at the deposit. The initial resource covers an area 150 metres along strike by 75 metres high and contains 124,200 tonnes @ 7.17 grams/tonne gold, 19 g/t silver and 1.06% copper. This includes a measured resource of 45,000 tonnes @ 9.92 grams/tonne gold, 27 grams/tonne silver and 1.94% copper and an indicated resource of 41,500 tonnes @ 9.57 grams/tonne gold, 26 grams/tonne silver and 0.91% copper. Mining blocks have been defined by applying a minimum mining width of 2.5 metres and mining dilution of 0.5 metres to the mea- sured and indicated resources in an area 150 metres along strike between the 1160 mRL and 1235 mRL levels. This tonnage excludes approximately 8000 tonnes mined as a bulk sample from the initial 4 metre x 4 metre drive on the 1185 mRL level. K92 plans that the material defined in these mining blocks will be mined over the next nine months. K92's chief executive officer and director John Lewins said, "We are extremely pleased with the initial resource and mining blocks that have been defined using results from the grade control drilling and face sampling. "With over 8000 tonnes already mined and a further 124,200 tonnes remaining in the 150 metre x 75 metre mining block, our target of identifying mining blocks containing 200,000 to 250,000 tonnes at a grade of 7-9 grams/tonne gold equivalent from grade control drilling covering an area of 150 metres x 150 metres from this first drill cuddy appears achievable. "We will continue to mine from development within this area and expect to commence stope production from Kora North in early 2018. We are also continuing to develop along strike on the Kora lode to the south towards the existing Kora deposit." Drilling from the first cuddy, at grade control spacing, is part of a strategy to define mining blocks in the Kora North discovery area while concurrently starting to test the large size potential of Kora, which remains not only open along strike and at depth, but strongly mineralised at the extent of all drilling. GEOPACIFIC Resources has discovered a significant new zone of gold mineralisation adjacent to the Kulumadau East deposit of the Woodlark Island Gold Project. The main Boscalo zone is delineated over a 200-metre length and mineralisation remains open. In addition to this zone a parallel zone of mineralisation between Boscalo and Kulumadau East has also been identified. Best results from drilling in this area were 12 metres @ 7.45 grams/tonne gold, 20 metres @ 1.77 g/t, 20 metres @ 1.71 g/t and 7 metres @ 5.25 g/t. Both zones are expected to make a valuable contribution to gold ounces within the planned Kulumadau open pit. Boscalo was first identified with several broad and high-grade in- tersections in June 2017. The orientation of the mineralised zone is different to Kulumadau East, striking to the northwest as opposed to the more north-south strike of the latter. Geopacific has drilled 45 holes at Boscalo with assay results pending for 22 holes. The majority of holes have been drilled to a shallow depth of 120 metres with some holes reaching 140 metres. Drilling continues at Boscalo and at the parallel zone in a bid to fully delineate the mineralised zones in these areas. There is also further potential for repetition across the large re- gional goldfield. Managing director Ron Heeks said, "It's always encouraging to make a new discovery and it shows the fantastic opportunity we have to elevate our regional exploration program by leveraging the discoveries made in the past and uncovering new zones of gold mineralisation currently hidden beneath the limestone veneer. "We already know the gold is there, it's a matter of studying the data to establish which areas present the most attractive targets for our ongoing exploration program." In October Geopacific secured control of the Woodlark project after obtaining more than 83% of previous project owner Kula Gold. Geopacific inherited over $150 million in historic spend on Wood- lark, which included a wealth of drilling data from over 275,000 metres of drilling, much of it undertaken by Kula. The Geopacific team has undertaken a rigorous process of re- view, validation and re-interpretation of geological data substantially increasing confidence in existing resources. Geopacific discovers new zone at Woodlark Initial mining resource defined at Kora Twin boom jumbo operators at K92 Mining's Kora underground deposit.

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