K92 Mining announces Q3 production results

Oct 16, 2023

K92 Mining Inc announces production results for the third quarter (Q3) of 2023 at its Kainantu Gold Mine in Papua New Guinea, of 26,225 oz AuEq or 22,227 oz gold and 40,233 oz silver. Sales during the quarter were 18,339 oz gold and 30,484 oz silver.

Production for the quarter was impacted from the safety incident on June 28, which resulted in the suspension of underground mining for 9 days, delaying high-grade stoping tonnes that was originally sequenced to be mined in September, to Q4, and scheduled maintenance of the process plant for 4.5 days in mid-July. Fourth quarter production is expected to be the strongest for the year, driven by a higher grade stoping and ore development mining sequence.

K92 is pleased to announce that in the second half of September, the first ore tonnes were mined from the twin incline, approximately 2 months earlier than expected, after thick Judd mineralization was encountered while developing the first waste pass access drive, in an area sparsely drilled and previously interpreted to be waste.

In the third quarter, the mine delivered yet another material movement record despite operations being impacted in July due to the safety incident, with 124,236 tonnes of ore mined and 305,506 tonnes of total material mined. Overall mine development totaled 2,227 metres, an increase of 18% from Q3 2022, and significant advancement of the twin incline in Q3, with incline #2 (6m x 6.5m) advanced to 2,639 metres and #3 (5m x 5.5m) advanced to 2,660 metres as of September 30, 2023. The twin incline is over 90% complete.


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