Kainantu Resources Ltd (CVE:KRL) has said it is expecting “encouraging” results in the next few months from exploration work at its KRL North project in Papua New Guinea.
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, which is located in the Kainantu region of the country.
Kainantu also said that it had reached a long-term access deal with local landholders, which it termed a “key milestone” in field activities on the property.
READ: Kainantu Resources says exploration at KRL South target is yielding encouraging results
"The proximity and central location of KRL North to known high-grade mining activities makes the project highly prospective for ongoing investigation,” Kainantu CEO Matthew Salthouse said in a statement.
“Concluding access arrangements with the communities of KRL North is a key milestone event ahead of fieldwork. We foresee encouraging results in coming months to add to the company's pipeline of activities and news flow."
KRL North sits near to K92 Mining’s ‘Kainantu’ mine, one of the highest-grade gold ore bodies in the world. The property also contains the KRL South area, which was previously the focus of exploration by Kainantu.
The company plans to continue exploration work at KRL North over the coming six to 12 months.
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