THE K92 Mining Inc, operator of the Kainantu mine in Eastern Highlands of Papua New Guinea, expects strong results in the second half of the year.
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| K92 Mining Inc recognised for discovering Kora North deposit in PNG . Photo credit : K92 Mining Inc |
Chief executive officer John Lewins said in a market release that operationally, the second half of quarter two delivered strong results with 16,284 ounces/oz (461kg) of gold produced.
“We expect the second half of the year to be stronger than the first half, and the fourth quarter to be the strongest for the year,” Lewins said.
“The introduction of the Judd vein system into our mine plan in the fourth quarter will provide a boost to operational flexibility by adding another mining front and high grade ore which are expected to benefit the operation in not just this year but going forward.
“On exploration, we are actively reducing our backlog of holes to assay and core log, while also adding more holes from our drill rig fleet with up to 11 rigs operating at the moment.
“This is expected to result in an increase in news flow in the second half of the year.
“The immediate focus is reducing the backlog at Judd and we expect to report results near term.”
Lewins said porphyry exploration had progressed from relatively shallow vector drilling to now deeper drilling targeting the potassic core.
Statement / The National/Pacific Mining Watch / Study in PNG
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