Gold resource of 690K tons

A measured gold resource of 154K tonnes

Measured gold volume is 

almost six years of production

K92 Mining announces resource estimate has been completed at its Kora North deposit, based on results from underground grade control, exploration diamond drilling and face sampling. The updated resource estimate comprises a Measured Resource of 154,000 tonnes Au, 8.9 g/t Ag and 0.5% Cu. 

An Indicated Resource of 690,000 tonnes Au, 14.1 g/t Ag and 0.8% Cu and an Inferred Resource of 1.92 million tonnes of Au, 13.3 g/t Ag and 0.7% Cu. This represents an increase of over 20% in the contained gold equivalent oz for the Measured and Indicated Resource and almost 30% for the Inferred Resource.

The resource estimate covers an area of approximately 400 to 500 metres along strike by 200 to 350 metres vertically, representing approximately 15% of the target area of 1,000 metres along strike by up to 1,000 metres vertically which the Company plans to drill from underground over the coming 12 months.

The updated resource estimate has been defined after just twelve months of underground exploration drilling and represents, at the design production levels of 50 - 70,000 ounces per annum; almost seventeen years of production.

Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. John Lewins, K92-CEO & Director, states, “We plan to drill out from underground over the next twelve months. The Measured and Indicated Resources alone represents almost six years of production at current design levels of 50 – 70K ozs AuEq. This has been achieved while at the same time establishing a new mining operation on the Kora deposit which is on track to produce 45,000 ozs AuEq for 2018 at a cash cost of less than US$600 per oz AuEq and an AISC of less than US$800 per ounce.”