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K92 Mining Announces Strong Q3 Production Results With Stage 2 Expansion Run-Rate Throughput Achieved in September
Record quarterly plant throughput with 87,621 tonnes processed, representing a 35% increase from Q3 2020. During the month of September, Kainantu achieved Stage
About this update from K92 Mining, Inc.
[{"type":"text","content":" Record quarterly plant throughput with 87,621 tonnes processed, representing a 35% increase from Q3 2020. During the month of September, Kainantu achieved Stage 2 Expansion run-rate processing throughput, averaging 1,100 tonnes per day (“tpd”), while also delivering a notably finer than required product size. Following the performance of the existing process plant, K92 announced the approval for a Stage 2A Expansion to increase annual throughput +25% to 500,000 tonnes per annum (“tpa”) or 1,370 tpd with commissioning in Q3 2022. Quarterly production in Q3 of 24,122 oz of gold equivalent (“AuEq”)(1) or 21,908 oz gold, 802,545 lbs copper and 19,736 oz silver and quarterly sales of 24,057 oz AuEq or 21,675 oz gold, 868,175 lbs copper and 20,444 oz silver. Positive reconciliation for gold grades vs resource model, with an average head grade of 9.0 g/t gold and 0.48% copper in Q3 (9.82 g/t AuEq) partially offset below budget mined grades due to impact of COVID-19 challenges in PNG during the first half of 2021. A +50% increase in development metres in Q3 vs Q2 set to improve access to high grade stoping areas going forward, including establishment of first stope from the Judd #1 Vein (“J1”). Quarterly development advance of the twin incline +16% above budget, with incline #2 (6m x 6m) advanced a total of 638 metres and #3 (5m x 5m) advanced a total of 680 metres as of September 30, 2021.Note (1): Gold equivalent for 2021 is based on the following prices: gold $1,800 per ounce; silver $25 per ounce; and copper $4.35 per pound. VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) announces production in the third quarter (“Q3”) at its Kainantu Gold Mine in Papua New Guinea, of 24,122 oz AuEq or 21,908 oz gold, 802,545 lbs copper and 19,736 oz of silver. Sales for the third quarter totaled 24,057 oz AuEq or 21,675 oz gold, 868,175 lbs copper and 20,444 oz of silver. During the third quarter, the process plant delivered record throughput of 87,621 tonnes and importantly, during the month of September, achieved Stage 2 Expansion design throughput, increasing to an average of 1,100 tonnes per day, with 20 days processing more than 1,100 tonnes and a single day record of 1,408 tonnes processed on September 22, 2021. Following the performance of the existing plant a...