K92 Mining Declares Maiden Inferred Resource of 10.8 Million oz AuEq or 4.7 Billion lbs CuEq at the Blue Lake Porphyry

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[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 09, 2022 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQB: KNTNF) is pleased to announce a maiden resource estimate at the Blue Lake porphyry project, located approximately 4 km southwest of the Company’s producing high-grade gold-copper Kora and Judd intrusion-related deposits at the Kainantu Gold Mine in Papua New Guinea. Blue Lake was discovered by K92 after mineralized lithocap was identified in 2017. K92 has completed two diamond drill programs for a total of 26 holes and 16,474.8 metres at the project. Blue Lake Gold-Copper Porphyry Maiden Mineral Resource Estimate Highlights Significant maiden inferred resource estimate declared of 10.8 million ounces gold equivalent (“AuEq”) at 0.61 g/t AuEq or 4.7 billion lbs CuEq at 0.38% CuEq, based on 549 million tonnes at 0.21 g/t Au, 0.23% Cu and 2.42 g/t Ag at a 0.4 g/t AuEq cut-off grade. Extensive potential for resource growth as Blue Lake is open at depth, with significant potential for expansion and delineation of the high-grade potassic core (see Figure 5). The Blue Lake porphyry has approximately equal ratios of gold and copper. Future exploration plans at Blue Lake include drilling to target expanding the higher-grade core which is open at depth, and exploring for additional mineralized porphyries beneath an extensive composite lithocap that extends to and includes the A1 Porphyry Target (See Figure 5 & 6). Porphyry exploration is advancing at the A1 Porphyry Target, our highest priority porphyry target based on geophysics completed in late-2021, with an initial soils, rock chip sampling and detailed mapping program commencing shortly, followed by drilling. Table 1 – Blue Lake Mineral Resource (Effective Date August 1, 2022, 0.4 g/t AuEq cut-off) AuEqCut off Mt Aug/t Cu% Agg/t AuEqg/t CuEq % AuMozs CuMt AgMozs AuEqMozs CuEqBlbs Inferred 549 0.21 0.23 2.42 0.61 0.38 3.7 1.3 43 10.8 4.7 Estimates are based on Technical Report titled, “Independent Technical Report, Mineral Resource Estimate Blue Lake Porphyry, Kainantu Project, Papua New Guinea”. The Independent and Qualified Person responsible for the mineral resource estimate is Simon Tear, P.Geo. of H & S Consultants Pty. Ltd., Sydney, Australia, and the effective date of the Mineral Resource is August 1, 2022. Mineral resources are not mineral reserves...

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