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K92 Mining achieves record production at Kainantu

Vladimir Basov

Kitco News

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(Kitco News) - K92 Mining (TSX: KNT) announced Wednesday record Q4 2020 production at its Kainantu gold mine in Papua New Guinea of 29,820 oz AuEq, or 28,809 ounces of gold, 493,584 pounds of copper and 10,395 ounces of silver.

The company said that annual production also achieved a record of 98,872 oz AuEq or 95,109 oz gold, 1,853,078 lbs copper and 36,067 oz silver, representing year-over-year AuEq production growth of 20%.

CEO and Director John Lewins stated, “We are especially pleased with the performance of the Kainantu gold mine during the fourth quarter, achieving record production. Importantly, the quarter was underpinned by record mill throughput, mine material movements and mine development.”

“2020 represents our third consecutive year of production growth and 2021 promises to continue that record with our first full year of the Stage 2 Expansion. Exploration activities have ramped up considerably, ending 2020 with 10 drill rigs on site and an eleventh rig expected to arrive shortly. The drill rigs are targeting the Judd, Karempe, Kora and Kora South vein systems, and the Blue Lake porphyry,” added Lewins.

By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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