Kainantu Resources Ltd (TSX-V:KRL) said it aims to kick off an airborne geophysical program at its KRL South project in Papua New Guinea (PNG), likely to be in December, ahead of a potential drill program next year.
The Kainantu gold district - focused explorer 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.
"Our targeted exploration programme at KRL South has accelerated over the last six months, with a number of encouraging results reported from the East Avaninofi Prospect and Yaoro Ridge Prospect," said Matthew Salthouse, the CEO of KRL, in a statement.
"All indicators continue to support the likely widespread intrusive-related gold-copper epithermal mineralization at this project, with strong copper indicators.
"The company is implementing a number of initiatives to define drilling targets in early 2022 as the next key milestone for KRL South, including an airborne geophysics survey," he added.
At KRL South, 1,052 samples were collected, noted the firm, with strong correlations of gold with silver, copper, moly and arsenic seen at the East Avaninofi prospect.
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Additional samples here also revealed elevated values of bismuth, tellurium and tungsten, said KRL, which is similar to the geochemistry at the nearby Bilimoia mineral field, known for its high-grade gold-copper intrusive style mineralization.
High levels of sulfur and iron were also found, which are key indicators of high-grade gold potential, the firm added.
Meanwhile, at Yaora Ridge, strongly anomalous copper and associated pathfinder elements were found, while a sample of 4.37 grams per tonne (g/t) gold was also returned, KRL highlighted.
To the east, the Kerefa prospect was also extensively mapped this year and two apparent trends were identified, but work here has been downgraded to focus on other prospects, the firm said.
"Notwithstanding COVID related delays, meaningful progress has been made throughout 2021, in line with KRL's plan to take a focused approach to identify near term drilling targets at KRL South," said the company.
"For the remainder of the year, the company will continue to undertake excavation work for contour benching and exposure of mineralization; building on sampling data for geochemical analysis in addition to mapping and modelling."
KRL says it boasts two highly-prospective gold projects - KRL South and KRL North - in a premier mining region, namely the high-grade Kainantu Gold District of PNG.
Both projects show potential to host high-grade epithermal and porphyry mineralization, as seen elsewhere in the district.
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