The completion of airborne geophysical surveying and analysis over the Kainantu region supports the highly prospective nature of the KRL tenement portfolio for porphyry Cu-Au and epithermal Au deposits (which is on trend with the successful K92 mine).
Key highlights of the airborne geophysics programme include the following:
- total area covered of 186 km² (involving over 1,000 line-kilometres) in survey by
Expert Geophysics Ltd. ("EGL"); - advanced processing and modelling; with 3D inversion conductivity models, and magnetic susceptibility and magnetization vector models completed by
Computational Geosciences Inc earlier this month – key findings below;
KRL North
- two large magnetic anomalies in highly permeable structural environments identified to the south west and south east, both have been interpreted as possible porphyries;
- the southwest body appears bound by a prominent highly conductive NE trending fault and is associated with a ring feature (in addition to peripheral precious and base metal mineralisation to the north and northwest);
- the southeast body occupies a complex structural zone of prominent intersecting NE and NW faults, some highly conductive and appears associated with a recently identified zone of low temperature hydrothermal alteration and mineralisation in the
Young Creek area;
KRL South
- magnetic signatures indicate a possible offshoot from the main batholithic Elandora Porphyry complex occupying the center of the Tirokave ring feature;
- appears to underly the largely phyllic altered area immediately west of the East Avaninofi Prospect and is consistent with skarn mineralisation mapped and sampled;
- additional prospect identified at Mt. Yungateia north of the Tirokave area, a coincident conductivity/magnetic high which includes a strong/extensive conductivity high orientated SE towards
Tebeo Ridge ; and - further regional targets of high prospectivity identified at KRL South – further analysis underway.
"The KRL airborne geophysics survey and subsequent analysis has proven to be a successful venture for the Company, confirming the highly prospective nature of both KRL North and KRL South; supporting ongoing work at the projects. In addition, the survey has also identified other targets and prospects in the region."
Located along the world renowned Kainantu Transfer Structure, KRL holds two highly prospective projects, KRL North and KRL South, in a district associated with highly successful mining projects.
KRL North
At KRL North, given proximity to the K92 mine, the Company has continued field work and studies to build confidence on the structural similarities and potential trend between the project and the Bilimoia Mineral Field (inclusive of two significant vein systems at Maniape and Arakompa only 2 to 4 km outside of the SE corner of KRL North).
In 2021, a mapping and sampling programme was conducted with the objective of assessing whether such enhanced structural permeability extends into KRL North. Results were extremely encouraging, with several altered and intrusive bodies observed and interpreted as associated with the Elandora Porphyry. A ring feature observed on the southern border of KRL North was found to be underlain by an extensive outcrop of phyllic altered intrusive rocks which was considered to indicate potential porphyry style mineralisation at depth.
Initial analysis from the airborne geophysics program conducted by K92 also appears to demonstrate a NE linear zone of high conductivity trending towards KRL North, likely indicating throughgoing structures possibly associated with contained water and/or sulphide-bearing zones. Further details are contained in KRL's release of
KRL South
At KRL South, the Company's initial focus has been around the Tirokave area, with three prospects identified for further investigation: East Avaninofi (where a 40 g/t Au sample was collected), Yaoro Ridge and
The area is of interest has extensive outcrops identified within the Akuna Igneous complex, including scattered dykes and plugs of the Elandora Porphyry and intrusives associated with other successful projects in the region.
Trenching is currently underway at East Avaninofi and
As noted in the Company's release of
KRL co-operated with other miners in the Kainantu region in Q4 2021/Q1 2022 to share resources to mobilise for airborne geophysical surveys over respective projects, with KRL having flown its survey in January-
Airborne survey data was collected by EGL (who operate the Mobile Magneto Tellurics, or Mobile MT system). The area surveyed included all prospective areas of KRL North in addition to key areas of interest in and around the Tirokave area of KRL South (including the East Avaninofi and
KRL North | North Block | EL2558, EL2655 | 533 line-km (97sq.km) |
KRL South | Tirokave Block | EL2559, EL2650, EL2652 | 263 line-km (43 sq.km) |
KRL South | Ontenu Block | EL2660 | 259 line-km (46 sq.km) |
Survey lines for all three areas were flown in an E-W direction, at 200m spacing, with tie lines at right angles (N-S), every 2,000m. On completion of the survey in
This data was then delivered to
KRL North
Initial mapping of EGL-derived preliminary apparent conductivity at KRL North had identified a number of high conductivity areas such as the Southern Ring feature, the NE trending Ramu Gorge Fault, the SE corner of EL2655 (known as the
The relative proximity of the Arakompa and Maniape deposits to the apparent conductivity high underlying the southern ring feature area can be noted.
The final processed conductivity and magnetization models prepared by CGI are set out in Figure 3 below, together with a brief description of the interpretations of each survey block – features of interest are annotated for clarity.
Two large, multi-component, magnetic anomalies interpreted as possible intrusive/extrusive complexes (N1 & N2) – either may be considered a source of mineralising fluids.
The previously identified southern ring feature centred on the triple junction of 3 leases (two held by KRL and one by K92) appears associated with the N1 anomaly and may represent an apophysy of a subjacent igneous body. In this regard, zoned hydrothermal alteration and mineralisation mapped and sampled by KRL to the north and, more recently, northwest of N1 are considered consistent with peripheral mineralisation commonly associated with porphyry style deposits.
A deep-seated, magnetic and conductive, NE-trending linear structure termed the Ramu Gorge Fault (N3) is associated with N1, sub-parallel to the main Kainantu Transfer Fault trend, and several NW-trending magnetic (N4) and conductivity (N5) anomalies are interpreted as permeable structures. Intersections of these NW-trending structures with the Kainantu Transfer trend represent additional exploration targets (areas of enhanced hydrothermal fluid flow).
The recently identified Young Ck zone of low temperature alteration and mineralisation appears associated with the N2 anomaly which is located in a structurally permeable zone of cross-cutting dominantly NE and NW faults & fractures. Prominent NE to NNE trending lineaments shown transecting
Conductive anomalies in the northeast of survey are shallow and interpreted as permeable sediments.
KRL South
At KRL South, the preliminary analysis by EGL at
The pattern of high conductivity anomalies adds confidence to the reliability of field data and processes in KRL's predictions.
A strong and extensive conductivity high orientated NW from
In this regard, the Company has identified Mt. Yungateia as a newly identified prospect which appears underlain by coincident conductivity and magnetic highs.
In relation to the further advanced analysis by CGI at KRL South, an extensive resistive zone (T1) could represent the batholithic Elandora Porphyry igneous complex largely occupying the center of the Tirokave ring feature, with a small apophysy on its northern margin (T2) situated on the western side of East Avaninofi Prospect, an area displaying extensive phyllic alteration. The latter anomaly is magnetic and may represent a skarn target (small skarn occurrences are commonly noted throughout the prospect areas) and/or an underlying porphyry.
A resistive zone with a conductive core (T3) underlying Mt. Yungateia represents a possible porphyry target. A slightly deeper NW-trending linear conductive zone (T4, parallel to the Kora Vein-trend) is an associated structural target of interest. Hydrothermally-altered porphyritic rocks, with quartz-sulphide veins, along with skarns, have been observed in this area.
Small magnetic features (T5 & T6) are associated with weak, linear N- to NNW-trending conductors.
KRL will continue analysis of data collected from the airborne geophysics programme, which has been extremely useful in supporting the Company's views as to the highly prospective nature of KRL North and KRL South; while also identifying additional prospects and targets for further investigation at both.
The analysis, combined with ongoing field work, will support the Company's programme to delineate drilling targets at KRL South; and potentially areas for further intensive efforts at KRL North.
In addition, the Company is currently reviewing the outcomes of the CGI analysis in relation to regional prospectivity and will provide a further update in the near future.
The scientific and technical information disclosed in this release has been reviewed and approved by
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. Disclaimer and Forward-Looking Information Mineralisation hosted on adjacent and/or nearby properties is not necessarily indicative of mineralisation hosted on the Company's property. The data disclosed in this release relating to drilling results is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data, and no representation or warranty, express or implied, is made by the Company, its affiliated companies, or any other person as to its fairness, accuracy, completeness, or correctness. This release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company's projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the
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