05:09 PM EST, 12/03/2024 (MT Newswires) -- K92 Mining ( KNTNF ) on Tuesday said exploration drilling into the Kora, Kora South, Judd and Judd South deposits on it Kainantu gold mine property in Papua showed high-grade mineralization.

The company said results from the four deposits, as well as from drilling the Judd Deeps target in the mine, showed multiple high-grade intersections, including 19.02 gold-equivalent grams per tonne over 13.5 meters.

"The latest drilling results at Kora and Judd, once again confirm that the resource expansion potential is very significant, and that there are significant opportunities to upgrade multiple areas in terms of both thickness and grade, with increased drill density ... We believe that we control a large gold-copper district of which we are only starting to scratch the surface," chief executive John Lewins said in a release.

K92 shares up $0.20 to $9.02 on the Toronto Stock Exchange