K92 Mining Inc (KNTNF)

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K92 MINING ANNOUNCES MAIDEN KAREMPE VEIN SYSTEM DRILLING RESULTS AND HIGH-GRADE EPITHERMAL VEIN MINERALIZATION

Posted October 22, 2020

Results reported for the first six holes drilled by K92 of the largely untested Karempe vein system. Drilling has delineated a well mineralized vein system, intersecting five parallel veins, trending North-South, sub-parallel and ~450m West of the producing Kora deposit.

- Multiple high-grade intersections reported on the KA1 Vein, including hole KRDD0005 recording 2.45 m at 39.82 g/t Au, 6 g/t Ag and 0.19% Cu (40.18 g/t AuEq).

- KRDD0006 recorded multiple intersections including 3.20 m at 17.50 g/t Au, 20 g/t Ag and 0.34% Cu (18.28 g/t AuEq) on the KA1 vein, ~100m down-dip from the high-grade KRDD0005 KA1 vein intersection.

- KA2 vein also encountered significant mineralization, including KRDD0002 recording 1.60 m at 8.61 g/t Au, 3 g/t Ag and 0.06% Cu (8.74 g/t AuEq).

- Mineralization is an intrusive related Au-Cu-Ag epithermal vein system, similar to Kora, open to depth and mapped over 2 km of strike. The interpreted strike length is supported by rock chip sampling, three historical drill holes and K92’s recent drilling.

Vancouver, British Columbia, October 22, 2020 – K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce results of the first six drill holes completed by K92 on the Karempe Vein System at the Kainantu gold mine in Papua New Guinea. The Karempe Vein System is located near-mine infrastructure, subparallel to and ~450m West from the producing Kora deposit.

To date, five known veins have been recorded at Karempe, with similar vein orientation and intrusive related Au-Cu-Ag mineralization as Kora. The veins are essentially quartz and massive pyrite, and more localized chalcopyrite hosted within competent diorite. The veins remain open to depth and only a fraction of the over 2,000 m strike length, documented by mapping and rock chip sampling, has been drill tested.

A total of six diamond drill holes were reported at Karempe, with intersections recorded in multiple veins. The results are highlighted by the KA1 Vein, with KRDD0005 recording 2.45 m at 39.82 g/t Au, 6 g/t Ag and 0.19% Cu (40.18 g/t AuEq, 2.30 m true width), including 0.75 m at 125.40 g/t Au, 12 g/t Ag, 0.13% Cu (125.75 g/t AuEq, 0.68 m true width). Approximately 100m down-dip from KRDD0005, along the KA1 Vein, hole KRDD0006 recorded 3.20 m at 17.50 g/t Au, 20 g/t Ag and 0.34% Cu (18.28 g/t AuEq, 2.45 m true width), including 1.60 m at 26.58 g/t Au, 38 g/t Ag, 0.66% Cu (28.07 g/t AuEq, 1.19 m true width). Both holes recorded mineralization that is invariably associated with massive sulphide (pyrite-chalcopyrite) and crystalline quartz, encapsulated within broad zones of strong sericite alteration.

Drilling also recorded significant mineralization along the KA2 Vein, highlighted by KRDD0002 recording 1.60 m at 8.61 g/t Au, 3 g/t Ag and 0.06% Cu (8.74 g/t AuEq, 1.31 m true width). The KRDD0002 intersection was reported ~100m to the south along strike from KRDD0005. There are currently two drill rigs at Karempe and through the remainder the year, drilling plans to target both down-dip and strike extensions.

Read more & view tables at:
https://k92mining.com/2020/10/k92-mining-announces-maiden-karempe-vein-system-drilling-results-and-high-grade-epithermal-vein-mineralization/