Company
CVE:KRL
KRL is an Asia-Pacific focused gold mining company with four highly prospective gold-copper projects, Kili Teke, KRL South, KRL North and the May River Project. All projects are located in premier mining regions in PNG. Both KRL North and KRL South show potential to host high-grade epithermal and porphyry mineralisation, as seen elsewhere in the high-grade Kainantu Gold District. The May River project is near the world-renowned Frieda River Copper-Gold Project, with historical drilling indicating the potential for significant copper-gold projects. Kili Teke is an advanced development project with an existing inferred mineral resource. KRL has a highly experienced board and management team with a proven track record of working together in the region; and an established in-country partner.
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The Kainantu gold district - focused firm provided an update on exploration at the KRL South project carried out in the second and third quarters this year, where it has been focusing on the East Avaninofi and Yaoro Ridge prospects.
The previously announced acquisition saw the gold miner enter into two separate definitive purchase agreements with ASX-listed Niuminco and Hardrock, a private company
Matthew Salthouse, CEO of Kainantu Resources commented: “KRL is pleased to report further progress during the period and has delivered against the early stage milestones set on listing in December 2021"
The gold miner entered into two separate definitive purchase agreements with ASX-listed Niuminco and Hardrock, a private company
The company is trading under the ticker symbol 6J0
The company also said its exploration campaign at KRL South has identified three distinct gold prospects with epithermal, skarn and porphyry-style mineralisation
While the Canadian miner continues to focus on targeted exploration at its highly prospective Kainantu projects, the company also is assessing options for strategic collaboration in the region
The Canadian junior is in the midst of a stream sediment and soil sampling program to pinpoint more potential porphyry-related alteration and mineralization targets within the project area
The company believes the Papua New Guinea-based project could host multiple epithermal, skarn and porphyry systems
Kainantu has successfully transferred EL 2558 and EL 2559 into its own name and direct control
Kainantu has a highly prospective gold project in Papua New Guinea and the regional expertise to make a success of it
