THE Kainantu gold mine in Eastern Highlands, Papua New Guinea is expected to increase its production by 34 per cent this year, according to operator K92 Mining Inc (K92 Mining).
The company expects an increase in gold equivalent production of up to 34 per cent from 115,000 to 140,000 ounces, while also delivering low-cost production.
Since 2020, K92 Mining noted that the drill fleet had more than doubled to up to 11 drill rigs.
According to the company, exploration has recently made a major pivot to focus on resource growth from previously largely infill-drilling at Kora, with plans to drill the Judd, Kora, Judd South and Kora South vein systems, and the Blue Lake porphyry.
Significant generative surface exploration activities from last year were planned to continue into this year.
Chief executive officer and director John Lewins, said 2021 was a record year and they planned to deliver another record year in 2022.
“The end-of-year momentum from the fourth quarter of 2021 which delivered record production, mill throughput, mine throughput and some of the highest metallurgical recoveries over the past two years for both gold and copper, has certainly set the operation up well for 2022,” he said.
“We also achieved our beginning of 2021 target of reaching Stage 2 expansion mine and mill throughput by year-end.
“We are also very excited about exploration for 2022, with most of the programme focused on resource growth.
“Surface drilling is advancing at Judd South and Kora South, targeting large step-outs from the existing known deposits.
“Surface drilling is also advancing at Blue Lake with deeper drilling targeting the potassic core,” Lewins said.
“Underground drilling for the first time has the majority of drill rigs at Judd and plans are also in place to leverage the twin incline later in the year for step-outs at Kora along strike to the north and at depth.
“Advancing the stage three expansion is a key part of our plans this year.”
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