Total contained metal in the proven and probable mineral reserve of 6.7 billion lbs. Cu, 7 million oz. Au and 30.7 million oz Ag with mineral reserves and mineral resources open at depth.
The study outlines an open pit operation feeding a conventional process plant at 152,000 tonnes per day over a 19-year mine life, with an average annual production of 136,000 tonnes of copper, 231,000 ounces of gold and 1,164,000 ounces of silver.
The study gives the project a $1.53 billion after-tax net present value with an 8-per-cent discount rate and a 15.4-per-cent internal rate of return at $3 per pound copper, $1,500 per ounce gold and $18 per ounce silver.
Josemaria is a member of the Lundin Group Companies with Adam Lundin at the helm.
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Kora, Kora, Kora! K92 Expanding Gold Mineralization at the Kora Gold Deposit, Papua New Guinea
K92 Mining Inc. (TSX-V: KNT, OTCQB: KNTNF) reported the first six holes drilled into the untested Karempe zone. Drilling identified a well-mineralized vein system, intersecting five parallel veins, ~450 metres west of the producing Kora deposit.
Drill hole KRDD0005 recorded 2.45 metres at 39.82 g/t Au, 6 g/t Ag and 0.19% Cu (40.18 g/t AuEq) on the KA1 vein. KRDD0006 recorded multiple intersections including 3.20 m at 17.50 g/t Au, 20 g/t Ag and 0.34% Cu (18.28 g/t AuEq) on the KA1 vein, approximately 100 metres down-dip from the high-grade KRDD0005 KA1 vein intersection.
The KA2 vein encountered significant mineralization, including KRDD0002 recording 1.60 m at 8.61 g/t Au, 3 g/t Ag and 0.06% Cu (8.74 g/t AuEq). Mineralization is an intrusive related Au-Cu-Ag epithermal vein system, similar to Kora, open at depth and mapped over two kilometres.
The company plans to have 10 drill rigs on site by the end of the year; five underground drill rigs and five surface drill rigs, at the Karempe, Kora, Kora South and Judd vein systems plus the Blue Lake porphyry.
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Japan Gold, Barrick Provides Exploration Update on Japanese Claims
Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) along with its partner Barrick (TSX: ABX, NYSE: GOLD) have been conducting fieldwork in the Kitami metallogenic province of northeast Hokkaido and the southern Kyushu epithermal gold province.
The Kitami metallogenic province is one of Japan's major epithermal gold provinces with more than 40 historic mines and prospects, including the Konomai Mine, Japan's third-largest gold mine (historic production of 2.35Moz at an average grade of 6.4g/t Au), the Sanru Mine (historic production of 225,000 ounces at an average grade of 7.4g/t Au) and the Tokusei Mine (historic production of 38,580oz of gold and 472,620oz of silver).
Japan Gold has 10 projects with applications and prospecting rights covering 86,135 hectares of prospective ground within Japan, nine of which are included in the Barrick Alliance (65,622.4 hectares).
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