VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 14, 2016) - K92 Mining Inc. (TSX VENTURE:KNT) ("K92 Mining") is pleased to announce the appointment of Gavin Ferguson to the position of General Manager - Kainantu Gold Mine and the appointment of Mr Peter du Plessis to the role of Executive Director - External Affairs, Projects and Services.
Mr Ferguson has over 25 years' experience in the Mining Industry and has worked in Africa, Australia and the Asia Pacific. He commenced his career with Anglogold Ashanti in South Africa and has extensive experience in the successful development and operations of underground gold and platinum mines.
Mr Ferguson comes with an extremely strong technical and operating background in underground mining having worked in various management roles from Section Manager to General Manager and Chief Operating Officer with various companies including Anglogold Ashanti, Anglo Platinum, Platinum Australia, Brandrill and Planet Mining. He also spent several years as Principal Advisor- Underground Mines with Newmont Asia Pacific.
Mr Ferguson commenced his involvement with K92 Mining in March 2016 as Mining Operations Manager.
Mr Peter du Plessis joined K92 Mining in March 2015 as the General Manager - Kainantu Gold Mine. He has worked continuously in Papua New Guinea since 2002, including time spent as the General Manager of the Tolukuma Gold Mine and more recently as the General Manager of the Simberi Gold Mine. His move to the new role as Executive Director is designed to enhance the company's focus on community relations and exploration as well as on the development of the Kora Project.
The Kora Project
The Kora Deposit has a current Inferred Resource of 4.42 million tonnes at a grade of 7.1 g/t Au, 34.6 g/t Ag and 2.2% Cu (see table below) and is open for expansion and strongly mineralized at the extent of drilling.
The Company proposes to undertake a development of approximately 1,000 metres to access the known Kora deposit from the current underground workings. In addition to providing access to the known deposit for more detailed evaluation and potential exploitation, the access drive will allow the company to undertake an extensive diamond drilling program in the previously untested area between the Kora and Irumafimpa deposits.
As previously advised, the Company has engaged Australian Mine Design and Development ("AMDAD") to undertake a Scoping Study for the development of the Kora deposit. In addition, the Company has also engaged Mincore, the Melbourne based engineering company currently undertaking the refurbishment of the processing plant at Kainantu, to carry out a detailed study for the potential expansion of the processing plant to treat material from Kora.