FINWIRES · TerminalLIVE
FINWIRES

K92 Mining Reports Additional High-Grade Drill Results From Arakompa

By

K92 Mining (KNT.TO) after the close on Thursday released its sixth set of drilling results from its maiden surface diamond drill program at Arakompa, located about 4.5 kilometers from the company's Kainantu Gold Mine process plant in Papua New Guinea.

The latest results consist of 33 holes, bringing the total number of holes released to date to 100.

The company said all drill holes at Arakompa intersected mineralization, with 40 intersections exceeding 5 grams per tonne gold equivalent (AuEq) and 20 intersections exceeding 10 g/t AuEq.

K92 Mining said multiple high-grade intersections were recorded at the AR1 Vein at the Arakompa prospect, adding that the increased drill density expanded the near-surface high-grade zone, which is now defined over approximately 300 meters of vertical extent and up to 400 meters of strike length, starting at a depth of 100 meters. Within this zone, the weighted average grade was 9.47 grams per tonne AuEq and the average true width was 4.32 meters.

K92 Mining also reported multiple high-grade intercepts at the AR2 Vein at the Arakompa prospect. The highlights included hole KARDD0084G, which returned 4.70 meters grading 41.90 grams per tonne AuEq.

Hole KARDD0104 returned 6.80 meters grading 15.21 g/t AuEq, including 2.00 meters grading 49.00 g/t AuEq. Hole KARDD0090 returned 3.40 meters grading 20.31 g/t AuEq, including 0.90 meters grading 71.63 g/t AuEq. Additional results included hole KARDD0073, which returned 8.00 meters grading 6.72 g/t AuEq, hole KARDD0105, which returned 3.60 meters grading 5.02 g/t AuEq, and hole KARDD0091, which returned 1.40 meters grading 7.51 g/t AuEq.

"The latest results from Arakompa represent another important step in advancing the discovery towards a maiden resource estimate planned for mid-2026. Drilling continues to demonstrate a large, near-surface mineralized system, highlighted by the significant expansion and improved continuity of the AR1 high-grade zone and the delineation of a substantial high-grade bulk tonnage zone. Increased drill density is enhancing our geological confidence while also highlighting the potential for grade profile upgrades through ongoing infill and step-out drilling," said chief executive John Lewins.

Shares of the company closed up $0.39 at $23.87 on Toronto Stock exchange.

Related Articles

Mining & Metals

Aecon Group Brief: Teaming up with Indigenous-owned Arctic Gateway Group to Collaborate on Opportunities to Pursue and Develop the Port of Churchill and the Hudson Bay Railway

$ARE.TO
Mining & Metals

UraniumX Discovery Plans $500,000 Flow-Through Share Financing

UraniumX Discovery (STMN.CN) after trade Thursday said it plans to raise up to $500,000 through a non-brokered private placement of flow-through shares.The company will place up to 3.3-million of the tax-advantaged shares priced at $0.15 each.No warrants will be issued as part of the financing, although the company may increase the offering size if demand is strong, it added.The company said the funds will support its ongoing diamond drilling program at the Murphy Lake Uranium Property in northern Saskatchewan. "Pitchblende in the very first hole confirmed Murphy Lake as a live, fertile uranium system. This financing puts the drill on four more targets, 5 kilometers from IsoEnergy's Hurricane deposit," Chief Executive Esen Boldkhuu said..

$STMN.CN
Mining & Metals

Keel Infrastructure Down 8.8% After Hours as It Plans a US$350 Million Convertible Senior Notes Offering

Keel Infrastructure (KEEL.TO, KEEL) was down 8.8% in after-hours Nasdaq trade after the company on Thursday said it plans to offer US$350 million in convertible senior notes due 2032.The notes will be fully and unconditionally guaranteed on a senior unsecured basis by Bitfarms, Keel's wholly owned subsidiary. The company also expects to grant initial purchasers an option to buy up to an additional $58 million of notes within 13 days of issuance, according to the statement.The company did not offering pricing or conversion details for the notes.The notes will be senior unsecured obligations of Keel and will pay interest semi-annually on Jan. 15 and July 15, beginning Jan. 15, 2027. Unless earlier repurchased, redeemed, or converted, the notes will mature on Jan. 15, 2032, the company added.Keel also said that, in connection with the convertible notes offering, it expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers, their affiliates, and/or other financial institutions.Part of the proceeds will be used to fund capped call transactions, with the remainder allocated to general corporate purposes, the company added.The company's shares were last seen down US$0.52 to US$5.41 after hours. They closed down C$0.36 to C$8.24 on the Toronto Stock Exchange.

$KEEL$KEEL.TO