K92 Mining Inc. (TSE: KNT) (OTCQX: KNTNF) reported a 74 per cent increase in production for Q1 2025 at its Kainantu Gold Mine in Papua New Guinea, producing 47,817 oz AuEq, including 45,735 oz gold, 1,141,379 lbs copper, and 34,085 oz silver, surpassing budget expectations.
The company announced this on Tuesday with its production results for the first quarter of 2025 .
In Q1, the process plant processed 103,449 tonnes, with a head grade averaging 14.9 g/t AuEq, including 14.3 g/t gold, 0.50 per cent copper, and 11.1 g/t silver.
Gold grades exceeded budget due to higher-grade stopes from Judd and Kora.
The positive gold grade reconciliation also outperformed the independent mineral resource model. The plant reduced throughput optimally to maximize recoveries at the higher feed grade.
The process plant achieved strong metallurgical recoveries of 95.8 per cent for gold and 95.1 per cent for copper, both the second highest on record, exceeding budget. Additionally, these recoveries surpassed the Updated DFS parameters of 92.6 per cent gold and 94.2 per cent copper. Elevated gold head grades and an improved flotation reagent mix contributed to the strong performance.
The mine mined 104,052 tonnes of ore during the quarter. Mining occurred across 12 levels at Kora and Judd. Total material movement, including ore and waste, reached 315,182 tonnes, the second highest on record. Long hole open stoping met design parameters, supporting strong operational performance.
In March, the mine set a new monthly development record of 954 metres, exceeding the Q4 2024 record by 6 per cent. This achievement neared the Stage 3 Expansion target of 1,000 metres per month.
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Total development for Q1 reached 2,494 metres
Key per cent infrastructure upgrades supported this progress, including the interim ventilation system, which increased mine airflow by 50 per cent (versus 30 per cent planned), and the Stage 2 Expansion Interim Water Upgrade.
Planned power disruptions in early Q1 impacted development rates, but strong advances occurred in the second half of the quarter.
“As at the end of March, 75 per cent of expansion capital has been spent or committed and, importantly, the transformation of K92 into a Tier 1 Mid-Tier producer is nearly upon us, with commissioning of the new 1.2 million tonnes per annum Stage 3 Process Plant set to commence in the second half of this quarter,” said John Lewins, K92 chief executive officer and director.
Total development for Q1 2025 reached 2,494 metres. Development rates will continue to rise, supported by infrastructure upgrades, new mining fronts, additional equipment, and an enhanced maintenance program.
Last month K92 appointed Robert Smillie as vice president of exploration, following Andrew Kohler’s return to Chief Geologist. Smillie brings over 35 years of experience in mineral exploration, with a focus on epithermal gold and copper-gold systems. He has led large exploration programs and managed significant budgets, including a notable role at Ok Tedi Mining in Papua New Guinea, where he discovered the Townsville project.
Furthermore, he has held senior roles at OceanaGold Corp (TSE: OGC), WMC Resources, Calibre Mining Corp. (TSE: CXB) (OTCMKTS: CXBMF) and the New Zealand Institute of Geological and Nuclear Sciences Limited.
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