Kainantu Resources Ltd (CVE:KRL) has told investors that it believes its KRL South project in Papua New Guinea could host multiple epithermal, skarn and porphyry systems.
The Vancouver-based company said that ongoing work at KRL South supports the idea of a “high-quality” exploration target close to existing mines in the wider Kainantu district.
Asia-focused Kainantu is nearing completion of a focused, multi-element soil sampling program that has collected nearly 2,000 samples so far, over 54 line kilometres sampled.
READ: Kainantu Resources confirms consolidation of its tenements at core projects in Kainantu region of Papua New Guinea
According to the company, “ring features” are observed at the target that are associated with shallow-buried to emergent mineralizing igneous complexes.
Kainantu said that it expects more targets to emerge from the ridge-and-spur soil study, with ongoing sampling “extremely encouraging.”
"Our targeted exploration program for the Kainantu projects continues to yield encouraging results, especially in and around the Tirokave area,” Kainantu CEO Matthew Salthouse said in a statement.
“This provides the foundation for further focused efforts during 2021 and beyond, with the prospective nature of the tenements becoming increasingly apparent as we build on the early successes to date at KRL South."
KRL South is nearly 597 square kilometres in size and comprises four tenements. Along with KRL North, Kainantu believes that both projects have potential to host high-grade epithermal and porphyry mineralization, as seen elsewhere in the region.
Contact Angela at angela@proactiveinvestors.com
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