K92 Mining Inc. (CVE:KNT) announced on Wednesday that the company has completed refurbishing the Kainantu Processing Plant.
The company explained that a restart of mining and processing operations was on schedule and on budget.
The processing plant is integrated with the Kainantu Gold Mine project located in the Eastern Highlands province of Papua New Guinea.
The company also expects to begin underground diamond drilling of the Irumafimpa orebody in the coming week. K92 will have a second diamond drill rig on site by the end of August to help expand the site’s Judd Gold Vein System.
While K92 was already moving ahead with a scoping study for the development of the Kora deposit, the company has also engaged Mincore to complete a scoping study for the expansion of the existing processing plant. Those studies may be complete in early September.
The company intends to double the plant’s capacity to approximately 400,000 tonnes per year.
The Kainantu property covers about 410 square km. Highlands Pacific and Barrick Gold mined the area from 2006 to 2009.
