Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
“... Gold in the Desert: High-Grade Project Nearing Fruition in Arizona
“... Located in the fault- and gold-riddled desert lands between Phoenix and Death Valley, Kerr Mines Inc.'s (KER:TSX; KERMF:OTC; 7AZ1:FRA) Copperstone Mine is gearing up to recommence production in 2020, stated newly appointed CEO Giulio T. Bonifacio.
Because it is blessed with existing infrastructure—a mill, water, power, labs, repair shop, warehouses, offices, tailings pond and extensive underground development—reinvigorating Copperstone is a low capex project.
Copperstone's historically productive high-grade gold deposit was profitably mined as an open pit in 1987 by Cyprus Minerals Corporation. Within six remarkable years, Copperstone delivered more than 500,000 ounces gold from 5.6 million tons of ore grading at 0.089 ounces per ton (oz/t) gold (3.05 grams/tonne).
Copperstone's next owner, American Bonanza, further developed Copperstone with drilling, underground development at the base of the open pit, while also permitting the project. This was followed by the construction of a 600-ton-per'day flotation mill. The company extracted 16,900 ounces of riches from ore grading at 0.104 oz/t gold (3.57 grams/tonne) during 2012 before terminating operations in early 2013 as the gold market turned and Copperstone went temporarily fallow.
Copperstone and its adjacent property was subsequently acquired by Kerr Mines in 2014 at a discounted price that did not reflect the significant historical costs that approximated US$100 million, Bonifacio noted. Kerr Mine's wholly owned Copperstone project straddles 19.2 square miles (50 square kilometers) of surface area and mineral rights in La Paz County, Arizona. The Toronto-based company controls the property's 546 federal unpatented mining claims (10,920 acres) and two Arizona state mineral leases totaling 1,338 acres.
In late 2017, Kerr Mines completed a combined surface and underground drilling exploration program, adding 800 feet of additional underground access. Bonifacio stated the company plans to start mining and processing 600 tons of ore per day at Copperstone in 2020, pending advancing detailed engineering, minor permit modifications approval and finalizing terms of a current financing package with Sprott Resource Lending Corp.
Last year, Kerr Mines' Copperstone preliminary feasibility study calculated the underground Proven and Probable to hold 175,093 ounces at 6.79 g/t with a mine life of 4.5 years. In 2019, a further 15,000-meter drill program is targeted with the objective of extending the estimated life of the mine to 8–10 years based on extracting 320,000 ounces of gold, Bonifacio noted.
"To date we have only modestly tested the Copperstone project with exploration work covering approximately only 10% of the project," Bonifacio stated. "We see a pathway toward capturing multimillion-ounce potential with further drilling and testing several prospective targets that have been identified."
Kerr Mines' proposed mining method is a mechanized cut and fill using rock fill and cement rock fill. Cut and fill was chosen for its flexibility in handling the low vein dip angles. The project is designed to operate on two 10-hour shifts; the region has an ample supply of experienced workers and is mining friendly.
In an interview with Streetwise Reports, Bonifacio said, "There is a comfort zone involved, in that Copperstone has already produced more than a half million ounces. The grade is high for underground at plus six grams. Additionally, with several very prospective targets in hand and a land package that has been relatively underexplored, there is a strong likelihood that we are sitting on a million-ounce deposit and a pretty low cost to get at the deposit."
Bonifacio explained, "The US$100 million investment by Copperstone's previous owners in existing infrastructure is saving us tens of millions in capital expenses. And the mine has all of its major permits. I'm quite excited about the large land position that came with the acquisition, which we will explore and develop after Copperstone goes on line."
Bonifacio joined Kerr Mines in April from Nevada Copper, which he retired from in early 2018. Bonifacio told Streetwise Reports that he founded Nevada Copper in 2005 and directed efforts at every stage of the company's development, which included exploration, resource expansion, feasibility studies and the successful permitting of both the underground and open-pit deposits and construction at the company's Pumpkin Hollow project located in Nevada, which is scheduled to commence production in Q4 2019. Bonifacio is a Chartered Professional Accountant with 30 years of executive experience in operations, project finance, capital markets and mergers and acquisitions. Bonifacio has himself raised US$700 million in capital through equity and project debt financings; he has participated in more than US$1 billion worth of corporate transactions.
Bonifacio has put his money where his mouth is, too. Kerr Mines has completed a non-brokered private placement offering of 3,350,000 shares at a price of CA$0.14 per unit for gross proceeds of CA$469,000. Bonifacio personally subscribed for 3 million shares; Peter Damouni, a Kerr director, subscribed for 350,000.
Retail investors currently hold only about a third of Kerr's shares with directors, insiders and family funds and offices holding the rest.
Bonifacio said, "We've got the budget on hand to continue the study work, and we are looking at lenders and our current financing package with Sprott Resource Lending to advance the project fully into production. We are also very excited about the drilling results to date so we ideally would like to further advance our drilling efforts with an aggressive targeted success driven drill program." Bonifacio went on to state, "We also have the best in class mining professionals to further advance Copperstone, which is critical to our future success."
Is now the right time?
"There are very few already built-out, ready-to-go projects like Copperstone. That is what sets us apart from the crowd," Bonifacio observed. "A bump in the gold prices is inevitable, it is a law of the market—that is why I put so much of my own skin in the game!"
Mining investment experts are cheering for Bonifacio and Copperstone. Technical analyst Clive Maund, analyst Siddharth Rajeev with Fundamental Research and industry observer Jeff Nielson all view Kerr Mines as a worthy investment that has the potential to glow with even a modest uptick in gold prices.
The nine-member board of directors of Kerr Mines is loaded not just with mining operations experts with the background to bring Copperstone to fruition, but also with several heavy weight capitalists.
Chairman Fahad Al Tamimi is a Saudi-based businessman with global investment activities. Previously, he was president and CEO of SaudConsult, the largest engineering firm in Saudi Arabia, responsible for many large infrastructure and construction projects in the country.
Executive vice-chairman Claudio Ciavarella, who has advanced Copperstone since its acquisition, is a CPA and private business owner who operates international businesses in construction and manufacturing.
Direct investor and board member Peter Damouni has over 18 years of experience in investment banking and capital markets, with expertise in mining and oil and gas. Damouni has worked on and led equity and debt financings valued over $5 billion.
Director Ayman Arekathas over 35 years of strong banking, finance, investment and business management experience working with Chase Manhattan Bank, Merrill Lynch, Deutsche Bank, Investor, Abraaj Capital and Tamimi investments.
https://www.streetwisereports.com/article/2019/05/21/gold-in-the-desert-high-grade-project-nearing-fruition-in-arizona.html
https://www.forbes.com/sites/kenroberts/2019/05/21/trade-war-update-port-of-los-angeles-no-longer-top-port-its-laredo/amp/
Kerr Mines filed NEW Financial SEDAR Documents
https://www.investorx.ca/search/00003818/kerr-mines-inc
https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00003818&issuerType=03&projectNo=02917105&docId=4523311
https://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00003818&issuerType=03&projectNo=02917104&docId=4523310
https://kerrmines.com/
https://www.bloomberg.com/news/articles/2019-05-14/trump-suggests-fed-match-china-in-any-aid-on-trade-war-impact
https://www.reuters.com/article/us-usa-trade-china-options/no-easy-options-for-china-as-trade-war-u-s-pressure-bite-idUSKCN1SL0OU
“... 2019-20 Target to increase mine life to +10 years...”
Updated Kerr Mines Presentation for an important presentation $o...
https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-May-2019.pdf
Several more detailed pages and images have been added ....
https://www.theguardian.com/world/2019/may/12/trump-china-tariff-hike-trade-war
“...Macroeconomic forces should be providing tailwinds for gold, but unlike an apathetic market, Sprott’s CEO, Peter Grosskopf, remains constructive the yellow metal, a contrarian move.
“Nobody likes gold right now, and we’re contrarian, and we think there’s great investment opportunities across the spectrum in gold, even if it doesn’t move. But at some point in the next few years, those other markets will have problems and when they have problems gold will be an amazing hedge,” Grosskopf told Kitco News on the sidelines of the Mines and Money conference in New York.
Grosskopf noted that sentiment for gold is improving and more sophisticated investors are beginning to take notice and invest....”
https://www.kitco.com/news/video/show/Mines--Money-New-York/2393/2019-05-07/Were-Betting-Against-The-Street-On-Gold---Sprott-CEO#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMines--Money-New-York
https://www.sprottmoney.com/
$ 0.17 0.015 UP | 9.68%
Bid: 0.16 x 500 Ask: 0.17 x 33500 Volume: 149,240
Low: 0.16 | High: 0.17 | Year Low: 0.105 | Year High: 0.245
CAD $ TORONTO STOCK EXCHANGE DELAYED
PRICE MAY 10, 2019 12:05 PMEDT
HTTPS://KERRMINES.COM/
HTTPS://WWW.SPROTTMONEY.COM/
HTTP://WWW.SPROTT.COM/
”... US customs issues notice of higher Chinese tariffs
It’s official! US Customs officials are ready to start collecting a new 25% tariff rate on thousands of products from China, in just seven hours time.
A notice on the U.S. Customs and Border Protection web site says it will begin collecting a 25% tariff on $200bn worth Chinese imports at 12:01 a.m. (05:01am UK time).
They are implementing a document filed earlier this week, which itself followed tweets from Donald Trump on Sunday which blamed China for moving too slowly in the trade talks.
The higher tariff applies to over 5,700 products that were previously hit with a 10% tariff last year. Here’s the announcement.
https://www.theguardian.com/business/live/2019/may/09/markets-us-china-trade-talks-liu-donald-trump-business-live
https://kerrmines.com/
“... Seoul, South Korea (CNN)
North Korea has launched two suspected "short-range missiles," South Korea's military said Thursday, adding yet another complication into Pyongyang's stalled negotiations with the United States and peace talks with South Korea.
It launched the projectiles at 4:29 p.m. local (3.29 a.m. ET) and 4:49 p.m. local towards the east, which had an estimated range of 420 kilometers (260 miles) and 270 kilometers respectively, South Korea's Joint Chiefs of Staff (JCS) said in a statement.
The missiles had an altitude of around 50 kilometers and hit the East Sea, also known as the Sea of Japan, South Korea's Defense Military told CNN. It added that it had detected that one of the projectiles was launched from Sino-ri and the other was launched from Kusong, both in the North Pyongan Province, in northwest North Korea.
https://www.cnn.com/2019/05/09/asia/north-korea-projectile-intl/index.html
Giulio T. Bonifacio
Chief Executive Officer & Director of Kerr Mines
Mr. Bonifacio has over 30 years in senior executive positions in the mining industry. Mr. Bonifacio is the founder and was the CEO of Nevada Copper since its inception in 2005 until 2018. He has also been instrumental in providing over $700 million of capital to projects of merit while having led the efforts at every stage of development from exploration, production, permitting and construction. He is a CPA with extensive experience in the capital markets, securities matters, project finance and M&A. He held senior roles with Getty Resources, TOTAL and Vengold.
https://kerrmines.com/corporate/
“... SALT conference: SkyBridge Capital's global investment conferencekicks off Wednesday in Las Vegas.
Thousands of top investors, corporate executives, politicians, economists, policymakers and journalists attend the event each year.
Speakers on Wednesday include economist Nouriel Roubini and entrepreneurs Mark Cuban and Steve Case. Chris Christie, Susan Rice and John Kelly will represent the political set.
CNN Business will have live coverage from the event.
https://www.nbc-2.com/story/40435743/us-china-trade-lyft-earnings-salt-conference
I would love to hear Mark Cuban speak ....
https://www.foxbusiness.com/business-leaders/billionaire-mark-cuban-side-job-paid-25-an-hour
https://www.kitco.com/news/2019-05-07/Gold-Prices-Slightly-Up-As-U-S-Stock-Market-Slumps.html
Eric Sprott
https://www.streetwisereports.com/article/2019/02/13/a-promising-and-inexpensive-gold-stock-in-homely-arizona.html
https://www.theguardian.com/business/live/2019/may/08/trade-war-fears-markets-china-exports-fall-business-live
https://kerrmines.com/
“... Kerr Mines Inc announced further drilling results from its resource expansion program at the Copperstone Mine located in Arizona, USA. Additional drilling results are pending and will be released as they become available.
Mr Giulio T Bonifacio, Chief Executive Officer, said “We continue to be extremely pleased with the drilling results to date which further expand our current resource while extending mine life at the Copperstone mine. Our exploration step out holes returned significant values and are indicating higher grade and thickness than initially anticipated. We are looking forward to receiving further drill results and currently planning for follow up drilling for step-out holes 18-21-06 and 18-21-04."
2019 Resource Expansion Highlights:
Drill hole 18-21-06, an exploration step-out hole returned an interval of 16.8 meters at 40.0 g/t gold, including 3 meters of 98.3 g/t gold further indicating the zone is significantly of higher grade and thickness than initially anticipated with a total effective mining width of 17.9 meters
Drill hole 18-21 -04, an exploration step-out hole returned an interval of 10.7 meters at 17.5 g/t gold, including 6.1 meters of 29.5 g/t gold with a total effective mining width of 12 meters
Continued to establish continuity between previously drilled mineralized intercepts in the existing Inferred category while extending mineralization along strike and dip
Drilling is being accomplished entirely from existing underground access and will affect an area of 500 meters of strike length and 200 meters of elevation, representing approximately 33 per cent of the current resource strike length. The program was designed to increase confidence in the mineral reserve, particularly the portion scheduled for the first three years of production in the recently-completed Pre-Feasibility Study
The objective of the underground resource expansion program is to increase mine life by adding new Inferred resources and converting new and existing Inferred resources into Measured and Indicated resources. Updating the mine plan with the new resources will be the final step towards extending mine life once all drilling results have been received
Resource Expansion underground drilling program of up to 10,000 meters is currently focused on the D and C zones of the Copperstone mine.
https://steelguru.com/mining/kerr-mines-announces-drill-results-at-copperstone-mine-in-arizona-us/539768
https://www.streetwisereports.com/article/2019/05/02/new-drill-results-expand-gold-resource-extend-life-of-arizona-mine.html
https://www.sprottmoney.com/
« ...
Gold Prices Are Not Yet Reflecting Reality- Fund Manager
»... (Kitco News) Gold has already peaked in terms of production, but it may be years before prices reflect this reality, this according to Jorge Ramiro Monroy, managing director of Emerging Markets Capital.
“We’re all waiting for that scenario to really unfold,” Monroy told Kitco News on the sidelines of the Mines and Money New York conference. “We’re in it already. The trick is that it could still be years before there is a break in the system. You already saw it with palladium this year where actual physical constraints made prices shoot up. Silver is looking like it could have something similar.” ... »
https://www.kitco.com/news/2019-05-03/Gold-Prices-Are-Not-Yet-Reflecting-Reality-Fund-Manager.html
https://newyork.minesandmoney.com/
https://www.kitco.com/news/video/show/Mines--Money-New-York/2389/2019-05-03/Peak-Gold-Were-In-It-Already-Says-Expert#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMines--Money-New-York
https://www.kitco.com/news/2019-05-03/Gold-Prices-Up-A-Bit-Despite-Strong-U-S-Jobs-Data.html
https://kerrmines.com/
“... A Canadian company reported the latest from its expansion underground program at its flagship Arizona project.
”...Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA)announced in a news releasethat additional drill results from its resource expansion program at its Copperstone gold mine "continued to establish continuity between previously drilled mineralized intercepts in the existing Inferred category while extending mineralization along strike and dip."
Stepout holes showed higher grades and greater thickness than were expected. Highlight assays came from holes 18-21-06 and 18-21-04:
Hole 18-21-06 intersected 16.8 meters (16.8m) at 40 grams per ton (40 g/t) gold, including 3m of 98.3 g/t gold, with a total mining width of 17.9m.
Hole 18-21-04 demonstrated 10.7m at 17.5 g/t gold, including 6.1m of 29.5 g/t gold, with a 12m total mining width.
"We continue to be extremely pleased with the drilling results to date, which further expand our current resource while extending mine life at the Copperstone mine," CEO Giulio Bonifacio said in the release. ...”
https://www.streetwisereports.com/article/2019/05/02/new-drill-results-expand-gold-resource-extend-life-of-arizona-mine.html
https://www.kitco.com/news/2019-05-03/Gold-Prices-Up-A-Bit-Despite-Strong-U-S-Jobs-Data.html
https://www.kitco.com/news/2019-05-03/Gold-Prices-Down-Following-Another-Surge-In-U-S-Employment-Unemployment-At-50-Year-Low.html
New Drill Results Expand Gold Resource, Extend Life of Arizona Mine
Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) announced in a news release that additional drill results from its resource expansion program at its Copperstone gold mine "continued to establish continuity between previously drilled mineralized intercepts in the existing Inferred category while extending mineralization along strike and dip."
Stepout holes showed higher grades and greater thickness than were expected. Highlight assays came from holes 18-21-06 and 18-21-04:
Hole 18-21-06 intersected 16.8 meters (16.8m) at 40 grams per ton (40 g/t) gold, including 3m of 98.3 g/t gold, with a total mining width of 17.9m.
Hole 18-21-04 demonstrated 10.7m at 17.5 g/t gold, including 6.1m of 29.5 g/t gold, with a 12m total mining width.
"We continue to be extremely pleased with the drilling results to date, which further expand our current resource while extending mine life at the Copperstone mine," CEO Giulio Bonifacio said in the release.
https://www.streetwisereports.com/article/2019/05/02/new-drill-results-expand-gold-resource-extend-life-of-arizona-mine.html
https://www.bbc.co.uk/news/world-asia-india-48121606
https://www.bbc.com/news/world-us-canada-48138433
https://www.cnn.com/politics/live-news/barr-skips-house-hearing-mueller-report/index.html
KERR MINES DRILLS 16.8 METERS OF 40 g/t GOLD
TORONTO, May 01, 2019 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, (“Kerr” or the “Company”) is pleased to announce further drilling results from its resource expansion program at the Copperstone Mine located in Arizona, USA. Additional drilling results are pending and will be released as they become available.
2019 Resource Expansion Highlights:
Drill hole 18-21-06, an exploration step-out hole returned an interval of 16.8 meters at 40.0 g/t gold, including 3 meters of 98.3 g/t gold further indicating the zone is significantly of higher grade and thickness than initially anticipated with a total effective mining width of 17.9 meters;
Drill hole 18-21-04, an exploration step-out hole returned an interval of 10.7 meters at 17.5 g/t gold, including 6.1 meters of 29.5 g/t gold with a total effective mining width of 12 meters;
Continued to establish continuity between previously drilled mineralized intercepts in the existing Inferred category while extending mineralization along strike and dip;
Drilling is being accomplished entirely from existing underground access and will affect an area of 500 meters of strike length and 200 meters of elevation, representing approximately 33 per cent of the current resource strike length. The program was designed to increase confidence in the mineral reserve, particularly the portion scheduled for the first three years of production in the recently-completed Pre-Feasibility Study;
The objective of the underground resource expansion program is to increase mine life by adding new Inferred resources and converting new and existing Inferred resources into Measured and Indicated resources. Updating the mine plan with the new resources will be the final step towards extending mine life once all drilling results have been received; and,
Resource Expansion underground drilling program of up to 10,000 meters is currently focused on the D and C zones of the Copperstone mine.
Giulio T. Bonifacio, Chief Executive Officer stated: “We continue to be extremely pleased with the drilling results to date which further expand our current resource while extending mine life at the Copperstone mine. Our exploration step out holes returned significant values and are indicating higher grade and thickness than initially anticipated. We are looking forward to receiving further drill results and currently planning for follow up drilling for step-out holes 18-21-06 and 18-21-04.”
Hole ID From To Interval Length Gold* True Thickness** Effective Mining Width***
meter meter meter gram/tonne meter meter
18-05E-01 12.2 19.8 7.6 3.27 7.4 13.0
includes 15.2 19.8 4.6 4.15 4.5 7.8
18-05-06 38.1 41.1 3.0 7.20 2.2 3.8
18-05E-07 19.8 24.4 4.6 9.48 4.5 7.9
includes 19.8 22.9 3.0 14.03 3.0 5.3
18-08-01 12.2 15.2 3.0 4.27 2.4 4.2
18-01A-04 38.1 41.1 3.0 8.04 1.9 3.4
includes 39.6 41.1 1.5 15.20 1.0 1.7
18-21-04 64.0 74.7 10.7 17.49 5.1 12.0
includes 67.1 73.2 6.1 29.45 2.9 6.9
18-21-06 57.9 74.7 16.8 40.00 7.6 17.9
includes 64.0 67.1 3.0 98.26 1.4 3.2
and 70.1 73.2 3.0 33.19 1.4 3.3
* Grades herein are reported as uncapped values.
** Estimated distance between the foot wall and hanging wall of the mineralized zone measured perpendicularly to the edges.
*** Effective Mining Width is defined as the distance between the foot wall and hanging wall of the mineralized zone measured horizontally and matches the planned mining method. The mining method used to calculate reserves will extract ore by drift mining along strike in a defined ore stope. The Effective Mining Width is the width that miners will be working within.
18-05E-01: Azimuth 244, inclination -65, total length 39.6 meters. This intercept is in an existing Measured and Indicated resource zone and intercepted thicker-than-expected mineralization on the edge of an existing designed mining stope. It is expected to lead to an expansion of reserves in the immediate area.
18-05-06: Azimuth 215, inclination -15, total length 65.5 meters. This intercept is in an existing Indicated resource zone and confirmed the expected grade but at greater thickness than is currently-modeled. The intercept is approximately 15.2 meters up-dip of designed stopes in the same resource zone and is expected to lead to an expansion of resources in the immediate area.
18-05E-07: Azimuth 244, inclination -45, total length 30.6 meters. This drill hole intercepted mineralization outside of an existing Inferred zone and has the potential to support a new modeled domain. This is supported by a nearby, historic drill hole. Historic hole CS-373 returned 3.0 meters @ 4.21 g/t , 8.0 meters away in the up-dip direction. This potential new domain outlined by these intercepts appears to be open along strike for 30 meters or more and warrants further step-out and definition drilling.
18-08-01: Azimuth 360, inclination -90, total length 30.5 meters. This hole intercepted existing Indicated resource in a currently defined resource zone and in a gap between designed mining stope panels. It is anticipated that this intercept will allow for continuity between the panels.
18-01A-04: Azimuth 247, inclination +72, total length 97.5 meters. This intercept is 30 meters beyond the edge of the existing Inferred resources and is expected to extend the existing resource domain up-dip. This intercept demonstrates the potential to further extend this domain to the west of existing modeled resources.
18-21-04: Azimuth 006, inclination -32, total length 94.5 meters. This hole returned a robust exploration step-out of an Inferred resource zone. Together with drill hole 18-21-06, this potentially extends Inferred mineralization down-dip approximately 76 meters from the edge of the previously-modeled resource zone. This resource zone is potentially open for expansion another 61 meters down-dip. Additional follow-up drilling is currently planned.
18-21-06: Azimuth 350, inclination -27, total length 82.3 meters. Similar to adjacent drill hole 18-21-04 described above (15 meters away) , this hole returned a robust exploration step-out of an Inferred resource zone and may serve to the extend the Inferred mineralized zone 76 meters down-dip from the previously-modeled edge of Inferred resource. This hole intercepted an area of high-grade replacement mineralization in metasedimentary rocks which is thicker and higher in grade than in adjacent holes, showing potential for the discovery of additional high-grade replacement bodies in this area. Additional follow-up drilling is currently planned.
The Copperstone zone is the underground extension of the same orebody that was historically mined as an open pit. The pit mined nearly 150 vertical meters of the Copperstone zone and produced in excess of 500,000 gold ounces historically. The Copperstone orebody currently has a horizontal strike length of over 1,500 meters and extends 110 meters beneath the historical open pit. Within this area there are Measured and Indicated resources of 276,100 gold ounces and Inferred resources of 145,700 gold ounces.
Future drilling programs, with the objective of further mine life extension, will target areas beyond the current 2019 Phase II affected area of 500 meters of strike length. The ultimate goal would be the addition of resources along all sections encompassing the entire current resource strike length of over 1,500 meters.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Michael R. Smith, SME Registered Member (Geology), who is a “Qualified Person” as defined by NI 43-101 for this project.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 50 Square kilometers (12,259 acre) land package.
For further information please visit the Kerr Mines website (www.kerrmines.com)
KERR MINES INC.
Giulio T. Bonifacio, Chief Executive Officer & Director
Quality Assurance and Quality Control Statement
Procedures have been implemented to assure Quality Assurance Quality Control (QAQC) of drill hole assaying being done at ALS Global, which is ISO Accredited. All intervals of drill holes are being assayed and samples are securely stored for shipment to ALS, with chain of custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 30th sample in sequence and results are graphed to assure acceptable results, resulting in high confidence of the drill hole assay results. When laboratory assays are received, the QAQC results are immediately evaluated and graphed to analyze dependability of the drill hole assays. As the Copperstone Project advances, additional QAQC measures will be implemented including selected duplicate check assaying on pulps and coarse rejects at a second accredited assay laboratory. All results will be analyzed for consistency.
For further information contact:
Giulio Bonifacio
Chief Executive Officer & Director
gtbonifacio@kerrmines.com
604-318-6760
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Concerning that the updated Copperstone RESOURCES will not be released until Q4 or as late as October or November 2019
Several months late...!
“... 2019 RESOURCE EXPANSION PROGRAM
Conversion, Accretion, In-Fill drilling
”...
• A more effective and targeted underground drilling program of up to 15,000 meters
• Conversion to Measured and Indicated resources
• Accretion to grow resource pipeline to add Inferred resources for later conversion with additional underground access
https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-May-2019.pdf
https://kerrmines.com/corporate/
https://goldprice.org/news/growth-in-home-prices-remains-slow-in-february-gold-price-rises
https://www.pbs.org/wgbh/frontline/film/trumps-trade-war/
Once we are provided with the “Updated Resource / Reserve” regarding the GOLD, Copper & other viable metals in Q3 ... https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-March-2019.pdf page 6
I will quickly make a decision as to whether this is a zero or hero$ stock....
At 57 Guilio T. Bonifacio would not invest half a million dollars in Kerr Mines shares unless he thought these shares were going to POP $o.... As our CEO he has access to Copperstone’s latest drill results and he would have no qualms in resigning if Copperstone is a BUST imho
The wait has become beyond FRUSTRATING for KERR shareholders...
https://kerrmines.com/
https://www.sprottmoney.com/
https://www.investing.com/news/commodities-news/gold-prices-gain-on-weak-china-pmi-data-1850176
I met Guilio and spoke to him at 2019 PDAC and I have every confidence in him and our Kerr Mines Team to extract well over 1 million oz high grade AU over the next ten+ years from the high grade Copperstone Project $o ...
https://www.cnn.com/2019/04/29/politics/rod-rosenstein/index.html
“...Mr. Bonifacio has over 30 years of experience in senior executive roles in the mining industry.
He is the Founder and former Director, President & CEO of Nevada Copper Corp. since its inception in 2005 until February 2018.
Among his many accomplishments Mr. Bonifacio has raised directly over $700 million through equity and project debt financings for projects of merit as well as being involved in corporate transactions aggregating in excess of a billion dollars.
Mr. Bonifacio has led and directed efforts at every stage of development from exploration, development, permitting and construction.
Giulio is a Chartered Professional Accountant with extensive experience and knowledge of operations, capital markets, project finance and mergers & acquisitions.
Mr. Bonifacio has held previous senior executive roles with Getty Resources Limited, TOTAL Energold Corp., an energy and gold producer and Vengold Inc., gold producer prior to founding Nevada Copper in 2005.
Mr. Bonifacio is the President & CEO of CopperBank Resouces Corp.
https://globalenergymetals.com/about/strategic-advisors/
http://copperbankcorp.com/corporate/management/
Giulio Bonifacio becomes Kerr Mines’ new CEO
Kerr Mines (KER.TO) has appointed Giulio Bonifacio (ex-Nevada Copper (NCU.TO)) as its new CEO, while Claudio Ciavarella will move to an executive vice chairman position. It will be interesting to see what Bonifacio’s first steps will be now he’s heading Kerr Mines whose Copperstone project hosts just over 400,000 ounces of gold while it also has a mill on site which keeps the expected capex low at just US$23M.
Kerr also closed a C$469,000 placement of which the majority was taken up by Bonifacio as he acquired 3 million shares and 3 million warrants in a C$0.14 unit financing. The warrants are valid for two years and have an exercise price of C$0.21.
Kerr is planning to complete an underground drill program totalling almost 16,000 meters as it would like to increase the resources to almost 600,000 ounces of gold, of which 320,000 ounces would be categorized as reserves. Should Kerr Mines be successful, the mine life would increase to 8 years while the after-tax NPV5% would increase from US$27M to US$80M using a gold price of $1250/oz.
https://www.caesarsreport.com/blog/nextsource-materials-received-environmental-nod-next-stop-project-financing/
https://www.kitco.com/news/2019-04-25/Gold-Eyes-First-Weekly-Gain-Since-March-As-Growth-Concerns-Linger.html
https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-March-2019.pdf
Directors buying at Kerr Mines KER
“...Giulio Bonifacio, a Senior Officer and Director, acquired 3,000,000 Common Shares at a price of $0.14 and 3,000,000 Common Share Purchase Warrants exercisable at $0.21 until April 15, 2021 on a direct ownership basis through a private transaction on April 15th, 2019. This represents a $420,000 investment into the company's shares and an account share holdings change of greater than 100%.
Under the same terms, Peter Damouni, a Director, acquired 350,000 Common Shares and 350,000 Common Share Purchase Warrants on a direct ownership basis through a private transaction on April 15th, 2019. This represents a $49,000 investment into the company's shares and an account share holdings change of 81.7%.
Kerr Mines is in the Gold Sub Industry Group under the Basic Materials Sector.
Kerr Mines Inc is a Canada-based gold development and exploration company. The Company is engaged in exploration, evaluation and development of gold and mineral resource properties in North America. Its segments include Canada and United States. The Company focuses on gold production in its Copperstone property in the United States. The Copperstone Gold Mine is located in western Arizona, in the United States, within the Walker Lane mineral belt where it intersects gold provinces in Southern California and Western Arizona. These provinces host a total known gold endowment of over 40 million ounces of gold.
https://m.canadianinsider.com/private-eye/2019-04-17/directors-buying-kerr-mines-ker
https://www.sprottmoney.com/
https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-March-2019.pdf
“...
Mueller report: Subpoena issued for unredacted version...”
https://www.bbc.com/news/world-us-canada-47991337
32 grams per tonne of GOLD at the KERR SouthWEST Target
« ...* South West target
Has same geophysical signature as Copperstone Zone and intercepts of 8 g/t to 32 g/t ... »
https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-March-2019.pdf
http://sprott.com/investment-strategies/physical-bullion-trusts/
https://www.sprottmoney.com/sprott-wafer-1-10g-gold.html
https://www.kitco.com/news/2019-04-17/Gold-To-Peak-At-1-400-On-Risk-Aversion-By-Year-End-Capital-Economics.html
Kerr Mines Inc. just filed 7 reports. View the full report... focused mainly on Giulio Bonifacio & Peter Damouni https://ceo.ca/ker
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/60725-kerr-mines-appoints-bonifacio-as-ceo-and-announces-closing-of-private-placement.html
https://www.cnn.com/world/live-news/notre-dame-fire/index.html
”...
Giulio T. Bonifacio
Director
Mr. Bonifacio has over 30 years in senior executive positions in the mining industry. Mr. Bonifacio is the founder and was the CEO of Nevada Copper since its inception in 2005 until 2018. He has also been instrumental in providing over $700 million of capital to projects of merit while having led the efforts at every stage of development from exploration, production, permitting and construction. He is a CPA with extensive experience in the capital markets, securities matters, project finance and M&A. He held senior roles with Getty Resources, TOTAL and Vengold.
https://kerrmines.com/corporate/
“... Kerr Mines Appoints Bonifacio as CEO and Announces Closing of Private Placement
TORONTO, April 15, Apr 15, 2019 (GLOBE NEWSWIRE via COMTEX) -- TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) ("Kerr" or the "Company") is very pleased to announce that Mr. Giulio T. Bonifacio has assumed the position of Chief Executive Officer in addition to his current role as Director. As part of this transition, Mr. Claudio Ciavarella will assume the role of Executive Vice Chairman and will work closely with Mr. Bonifacio to advance the Company's Copperstone Mine project to production.
Mr. Bonifacio was the Founder, President and Director of Nevada Copper since its inception in 2005 until his retirement in 2018. Over this 13-year period, he led and directed efforts at every stage of Nevada Copper's development which included resource expansion, feasibility studies, successful permitting of both the underground and open pit deposits and the initial construction phase at the Pumpkin Hollow project located in Nevada. Pumpkin Hollow is currently targeted to commence production in Q4 2019.
Over his 30 years of experience in senior executive roles in the mining industry, Mr. Bonifacio has raised directly over US$500 million in capital through equity and project debt financings for projects of merit as well as being involved in corporate transactions aggregating in excess of US$1 billion. Mr. Bonifacio is a Chartered Professional Accountant with extensive experience and knowledge of operations, project finance, capital markets and mergers and acquisitions.
Giulio T. Bonifacio, Chief Executive Officer stated: "I look forward to working with the Board and Management to advance Copperstone to commercial production in the near term. Copperstone is well advanced with permits, 14,000 feet of underground development, an existing 600 ton/day mill and infrastructure, all of which will lead to very manageable capital requirements while also allowing for a shortened construction period. I am also very excited about the multi-million ounce exploration potential of the project which has not been fully tested and explored."
Fahad al Tamimi, Chairman stated "I would like to welcome the appointment of Mr. Bonifacio as our Chief Executive Officer. Giulio has the knowledge, experience and belief in this project to lead us forward and take the next important steps to achieving our strategic objectives."
"I would like to thank Mr. Ciavarella for his dedication to advancing the Company over the past two years, the Company has taken great strides during this time. We look forward to Claudio's continued involvement as a Board member and major shareholder of the Company."...”
IFrame
Private Placement
The Company has completed a non-brokered private placement offering of 3,350,000 units of the Company ("Units") at a price of CDN$0.14 per Unit for gross proceeds of CDN$469,000 ()Offering"). Mr. Bonifacio subscribed for 3,000,000 Units of the Offering and Peter Damouni, a director of the Company, subscribed for 350,000 Units of the Offering.
Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ()Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of CDN$0.21 per Common Share until April 15, 2021 provided that if, at any time the Common Shares trade on a stock exchange at a volume weighted average trading price of CDN$0.30, or greater, per Common Share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.
The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. The Company intends to use the net proceeds from the Offering for continued mineral exploration and development and for general working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The issuance and sale of Units under the Offering to Mr. Bonifacio and Mr. Damouni, as insiders of the Company, constituted related party transactions within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by each insider will not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce targets within a 50 square kilometer (12,260 acres) land package.
For further information contact:
Claudio Ciavarella
Executive Vice Chairman
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations of the commencement of production and the rate of production, if commenced and exploration potential. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
https://www.marketwatch.com/press-release/kerr-mines-appoints-bonifacio-as-ceo-and-announces-closing-of-private-placement-2019-04-15-61843057
https://kerrmines.com/kerr-mines-appoints-bonifacio-as-ceo-and-announces-closing-of-private-placement/
http://sprott.com/investment-strategies/sprott-resource-holdings/
https://www.nevadacopper.com/
“...Kerr Mines appoints Bonifacio as CEO and announces closing of private placement
Apr. 15, 2019 11:40 AM • SA Editor Pranav Ghumatkar
Kerr Mines (OTCQB:KERMF +0.5%) announced that Mr. Giulio T. Bonifacio has assumed the position of CEO in addition to his current role as Director.
The Company has also completed a non-brokered private placement offering of 3.35M units of the Company at a price of C$0.14/unit for gross proceeds of C$0.47M.
Mr. Bonifacio subscribed for 3M Units of the Offering and Peter Damouni, a director of the Company, subscribed for 0.35M units of the Offering.
The Company intends to use the net proceeds for continued mineral exploration and development and for general working capital purposes.
https://seekingalpha.com/news/3450715-kerr-mines-appoints-bonifacio-ceo-announces-closing-private-placement
http://www.sprott.com/
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/60725-kerr-mines-appoints-bonifacio-as-ceo-and-announces-closing-of-private-placement.html
“...TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is very pleased to announce that Mr. Giulio T. Bonifacio has assumed the position of Chief Executive Officer in addition to his current role as Director. As part of this transition, Mr. Claudio Ciavarella will assume the role of Executive Vice Chairman and will work closely with Mr. Bonifacio to advance the Company’s Copperstone Mine project to production.
Mr. Bonifacio was the Founder, President and Director of Nevada Copper since its inception in 2005 until his retirement in 2018. Over this 13-year period, he led and directed efforts at every stage of Nevada Copper’s development which included resource expansion, feasibility studies, successful permitting of both the underground and open pit deposits and the initial construction phase at the Pumpkin Hollow project located in Nevada. Pumpkin Hollow is currently targeted to commence production in Q4 2019.
Over his 30 years of experience in senior executive roles in the mining industry, Mr. Bonifacio has raised directly over US$500 million in capital through equity and project debt financings for projects of merit as well as being involved in corporate transactions aggregating in excess of US$1 billion. Mr. Bonifacio is a Chartered Professional Accountant with extensive experience and knowledge of operations, project finance, capital markets and mergers and acquisitions.
Giulio T. Bonifacio, Chief Executive Officer stated: “I look forward to working with the Board and Management to advance Copperstone to commercial production in the near term. Copperstone is well advanced with permits, 14,000 feet of underground development, an existing 600 ton/day mill and infrastructure, all of which will lead to very manageable capital requirements while also allowing for a shortened construction period. I am also very excited about the multi-million ounce exploration potential of the project which has not been fully tested and explored.”
Fahad al Tamimi, Chairman stated “I would like to welcome the appointment of Mr. Bonifacio as our Chief Executive Officer. Giulio has the knowledge, experience and belief in this project to lead us forward and take the next important steps to achieving our strategic objectives.”
“I would like to thank Mr. Ciavarella for his dedication to advancing the Company over the past two years, the Company has taken great strides during this time. We look forward to Claudio’s continued involvement as a Board member and major shareholder of the Company.”
Private Placement
The Company has completed a non-brokered private placement offering of 3,350,000 units of the Company (“Units”) at a price of CDN$0.14 per Unit for gross proceeds of CDN$469,000 (the “Offering”). Mr. Bonifacio subscribed for 3,000,000 Units of the Offering and Peter Damouni, a director of the Company, subscribed for 350,000 Units of the Offering.
Each Unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of CDN$0.21 per Common Share until April 15, 2021 provided that if, at any time the Common Shares trade on a stock exchange at a volume weighted average trading price of CDN$0.30, or greater, per Common Share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.
The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. The Company intends to use the net proceeds from the Offering for continued mineral exploration and development and for general working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The issuance and sale of Units under the Offering to Mr. Bonifacio and Mr. Damouni, as insiders of the Company, constituted related party transactions within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by each insider will not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce targets within a 50 square kilometer (12,260 acres) land package.
For further information contact:
Claudio Ciavarella
Executive Vice Chairman
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations of the commencement of production and the rate of production, if commenced and exploration potential. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
https://www.globenewswire.com/news-release/2019/04/15/1803833/0/en/Kerr-Mines-Appoints-Bonifacio-as-CEO-and-Announces-Closing-of-Private-Placement.html
KERR Mines Is Poised to Soar in late 2019 & 2020
More specifically, Kerr Mines’ shares are poised to SOAR in 2019 & 2020
https://www.streetwisereports.com/article/2019/04/06/initial-drill-results-show-mineralization-continuity-extension-at-arizona-project.html
https://www.mining-journal.com/resource-definition/news/1360452/copperstone-expansion-results-give-kerr-confidence
https://www.kitco.com/commentaries/2019-04-08/Flat-U-S-Equities-And-Dollar-Weakness-Are-Supportive-Of-Gold-Prices.html
http://sprott.com/investment-strategies/physical-bullion-trusts/gold/
https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-March-2019.pdf
”... Copperstone expansion results give Kerr confidence
Kerr Mines (TSX: KER) says initial results from a 10,000m underground resource expansion drilling programme are supporting its confidence to be able to extend the mine life at its Copperstone project in Arizona.
https://www.mining-journal.com/resource-definition/news/1360452/copperstone-expansion-results-give-kerr-confidence
http://www.sprott.com/
https://www.google.com/amp/s/amp.theguardian.com/world/2019/apr/08/barnier-eu-support-backstop-ireland-no-deal-brexit
“... Initial Drill Results Show Mineralization Continuity, Extension at Arizona Project
“...Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) announced in a news release the first drill results from its resource expansion program at Copperstone in Arizona.
"These results confirm our understanding of the Copperstone gold deposit and support our confidence in expanding the resources and further extending mine life at the Copperstone mine," President Martin Kostuik said in the release.
These maiden results from four holes come from a drill program covering 500 meters (500m) of strike length and 200m of elevation, for about 33% of the existing resource strike length.
Generally, the results "established continuity between previously drilled mineralized intercepts in the existing Inferred category while extending mineralization along strike and dip," the release noted.
Specifically, highlight drill hole 18-08A-02 intersected 12.2m at 11.7 grams per ton (11.7 g/t) gold (Au), including 3m of 38.3 g/t Au. This suggests the zone is of a higher grade and is thicker than expected, having a mining width of 17.7m.
Other assays included 6.1m at 5.8 g/t Au from hole 18-05A-01, 4.6m at 9.8 g/t Au from hole 18-05A-06 and 4.6m at 18.3 g/t Au from hole 18-08A-03.
Kerr will release more drill results as they become available.
https://www.streetwisereports.com/article/2019/04/06/initial-drill-results-show-mineralization-continuity-extension-at-arizona-project.html
https://www.kitco.com/news/2019-04-05/Gold-Prices-Pressured-By-Decent-U-S-Jobs-Report-Rally-in-Equities.html
https://www.thenewswire.com/archives?id=1k49FDnYp
https://www.bbc.com/news/uk-politics-47842572
Name Symbol Market Market Name
KERR MINES INC. 7AZ1:FF FF Frankfurt
KERR MINES INC. 7AZ1:TG TG Tradegate
Kerr Mines Inc KERMF OTCQB OTCQB - U.S. Registered
Kerr Mines Inc - Ordinary Shares 0V2X:LN LSEI London Stock Exchange International
Kerr Mines Inc. KER:APH ALPHA Alpha
Kerr Mines Inc. KER:AQL AQL Aequitas - Lit
Kerr Mines Inc. KER:AQN AQN Aequitas - Neo
Kerr Mines Inc. KER:CC TSXC CDN Consolidated
Kerr Mines Inc. KER:PUR PURE Canadian Securities Exchange (PURE)
Kerr Mines Inc. KER:CX2 CX2 Nasdaq CX2
Kerr Mines Inc. KER:CHI CHIX Nasdaq CXC
Kerr Mines Inc. KER:ICX ICX. Instinet Canada Cross
Kerr Mines Inc. KER:LQN LQN Liquidnet Canada
Kerr Mines Inc. KER:LYX LYNX Lynx
Kerr Mines Inc. KER:OMG OMEGA Omega
Kerr Mines Inc. KER:TCM TCM TriAct Canada
Kerr Mines Inc. KER:CA TSX Toronto Stock Exchange
https://www.quotemedia.com/portal/quote?qm_symbol=KER
Well you would not bother listing Kerr Mines on all of these exchanges unless... $$$ imho
https://kerrmines.com/
http://www.sprott.com/
http://www.sprott.com/precious-metals-watch/
http://sprott.com/investment-strategies/physical-bullion-trusts/
On a separate note, “...The best Brexit is still no Brexit
Prime Minister Theresa May's new strategy isn't much better than her old one..”
“...U.K. Prime Minister Theresa May this week stopped trying to get her fellow Tories to back her plan for quitting the European Union, and asked the opposition Labour Party to come to her aid. Could this be that most elusive of Brexit developments: progress?
Not exactly. For many reasons – politics, self-interest, the fundamentally incoherent task at hand – May and Labour leader Jeremy Corbyn are unlikely to hash out a workable agreement about how Britain should exit the EU. If they fail, May says she’ll let Parliament settle the matter by voting on various options, through a yet-to-be-determined process.
It’s hard to imagine a breakthrough there, as well. Lawmakers have spent recent days rejecting just about every theoretical variant of Brexit. May’s plan has been voted down three times since January. Even the least-unpopular alternatives – such as adding a permanent customs union to the political declaration attached to May’s withdrawal agreement – would require a steady cross-party alliance, which on current trends looks implausible.
And the underlying problems haven’t gone away. Although the public voted for Brexit in the abstract, all specific versions of it find little support. That’s because they all would, to varying degrees, reduce growth, harm businesses, diminish Britain’s standing in the world and quite possibly impinge on its sovereignty by binding it to EU rules it will no longer have a say over. As ever in this misadventure, the choices are between bad and worse.
Even so, what should happen now isn’t in doubt: The government should seek a long extension of the Article 50 process that underpins Brexit, and plan for a second referendum – with Remain as an option on the ballot, alongside whatever deal May or her successor manages to devise. Britain’s citizens deserve a chance to decide whether the Brexit on offer bears any resemblance to what they thought they were voting for in 2016, and should be given the opportunity to think again.
Granted, further delay and indecision will be costly. The chaos of the past few years in British politics has already done great harm. Investment has declined for four straight quarters. Confidence is plummeting. Manufacturers have been stockpiling at a record rate, incurring needless expense and limiting future growth. By several estimates, Brexit has already reduced GDP by at least 2 percent. Meanwhile, other public business has all but come to a halt....”
https://www.pressherald.com/2019/04/06/another-view-the-best-brexit-is-still-no-brexit/
Kerr Mines Drills 12.2 Meters of 11.7 g/t Gold at Copperstone
https://www.nasdaq.com/press-release/kerr-mines--drills-122-meters-of-117-gt-gold-at-copperstone-20190404-00195
The drill results are amazing for a first batch so load up the back of your pick-up truck with these KERR shares before the Golden KERR train leaves the Copperstone station in the heart of Arizona ...
http://www.sprott.com/
https://www.nytimes.com/2019/04/04/world/europe/brexit-extension.html
https://www.theguardian.com/politics/blog/live/2019/apr/05/brexit-latest-news-developments-live-theresa-may-writes-to-eu-requesting-another-article-50-extension-but-only-until-30-june-live-news
Brexit: UK asks EU for further extension until 30 June
https://www.bbc.com/news/uk-politics-47825841
“...Kerr Mines Drills 12.2 Meters of 11.7 g/t Gold at Copperstone
TORONTO, April 04, 2019 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is pleased to announce initial drilling results from its resource expansion program at the Copperstone Mine located in Arizona, USA. Additional drilling results are pending and will be released as they become available.
2019 Resource Expansion Highlights:
Drill hole 18-08A-02 returned an interval of 12.2 meters at 11.7 g/t Au, including 3 meters of 38.3 g/t Au, indicating the zone is higher grade and thicker than initially anticipated with an effective mining width of 17.7 meters;
Additional intervals include 6.1 meters @ 5.8 g/t Au (18-05A-01); 4.6 meters @ 9.8 g/t Au (18-05A-06) and 4.6 meters @ 18.3 g/t Au (18-08A-03);
Established continuity between previously drilled mineralized intercepts in the existing Inferred category while extending mineralization along strike and dip;
Drilling is being accomplished entirely from existing underground access and will affect an area of 500 meters of strike length and 200 meters of elevation, representing approximately 33 per cent of the current resource strike length. The program was designed to increase confidence in the mineral reserve, particularly the portion scheduled for the first three years of production in the recently-completed Pre-Feasibility Study (PFS).
The objective of the underground resource expansion program is to increase mine life by adding new Inferred resources and converting new and existing Inferred resources into Measured and Indicated resources. Updating the mine plan with the new resources will be the final step towards extending mine life once all drilling results have been received; and,
Resource Expansion underground drilling program of up to 10,000 meters is currently focused on the D and C areas of the Copperstone zone.
“We are extremely pleased with the initial drilling results and performance of the program in its early stages and look forward to communicating results as they become available. These results confirm our understanding of the Copperstone gold deposit and support our confidence in expanding the resources and further extending mine life at the Copperstone Mine,” stated Martin Kostuik, President.
Hole ID From To Interval
Length Gold* True
Thickness** Effective Mining
Width***
meter meter meter gram/tonne meter meter
18-05A-01 16.8 24.4 7.6 5.15 4.6 8.2
includes 16.8 22.9 6.1 5.77 3.7 6.1
includes 16.8 18.3 1.5 12.85 0.9 1.5
18-05A-06 36.6 44.2 7.6 7.71 4.9 8.2
includes 39.6 44.2 4.6 9.84 2.7 4.9
18-08A-02 12.2 24.4 12.2 11.70 10.1 17.7
includes 18.3 24.4 6.1 20.67 5.2 8.8
includes 21.3 24.4 3.0 38.25 2.4 4.6
18-08A-03 10.7 27.4 16.8 8.25 16.2 28.3
includes 22.9 27.4 4.6 18.25 4.6 7.6
* Grades herein are reported as uncapped values.
** Estimated distance between the foot wall and hanging wall of the mineralized zone measured perpendicularly to the edges.
*** Effective Mining Width is defined as the distance between the foot wall and hanging wall of the mineralized zone measured horizontally and matches the planned mining method. The mining method used to calculate reserves will extract ore by drift mining along strike in a defined ore stope. The Effective Mining Width is the width that miners will be working within.
18-05A-01: Azimuth 245, inclination 0, total length 64 meters. This hole demonstrates opportunity to convert Inferred resource in the resource domain to Measured or Indicated resource. The intercepted thickness of the resource domain is wider than had been anticipated by the existing model, having a true thickness of approximately 6 meters. This intercept is 16 meters up-dip from the edge of the nearest engineered mining stope and may allow the stopes to be extended up-dip.
18-05A-06: Azimuth 235, inclination 0, total length 70 meters. This hole demonstrates opportunity to convert Inferred resource in the resource domain to Measured or Indicated resource. The intercept length approximates true thickness and is approximately what had been previously modelled, while the grade of this intercept exceeds what had been predicted in the existing model. Similar to hole 18-05A-01, this intercept is approximately 16 meters up-dip from the upper edge of engineered mining stopes in the resource domain and may allow the stopes to be extended up-dip.
18-08A-02: Azimuth 245, inclination -20, total length 40 meters. This hole demonstrates opportunity to convert Inferred resource in the resource domain to Measured or Indicated resource. The intercept length approximates the true thickness of the domain and shows it to be twice the anticipated thickness at this location and also of higher grade than anticipated. This intercept is 40 meters up-dip from the upper edge of engineered mining stopes of the resource domain and may allow the stopes to be extended up-dip.
18-08A-03: Azimuth 245, inclination -40, total length 43 meters. This hole demonstrates opportunity to convert Inferred resource in the resource domain to Measured or Indicated resource. The intercept approximates the true thickness of the zone and is of approximately the expected thickness and is of higher than anticipated gold grade. This intercept demonstrates opportunity to convert domain resources 30 meters up-dip from the upper edge of engineered mining stopes and may allow the stopes to be extended up-dip.
The Copperstone zone is the underground extension of the same orebody that was historically mined as an open pit. The pit mined nearly 150 vertical meters of the Copperstone zone and produced in excess of 500,000 gold ounces historically. The Copperstone orebody currently has a horizontal strike length of over 1,500 meters and extends 110 meters beneath the historical open pit. Within this area there are Measured and Indicated resources of 276,100 gold ounces and Inferred resources of 145,700 gold ounces.
Future drilling programs, with the objective of further mine life extension, will target areas beyond the current 2019 Phase II affected area of 500 meters of strike length. The ultimate goal would be the addition of resources along all sections encompassing the entire current resource strike length of over 1,500 meters.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Michael R. Smith, SME Registered Member (Geology), who is a “Qualified Person” as defined by NI 43-101 for this project.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 50 Square kilometers (12,259 acre) land package.
Quality Assurance and Quality Control Statement
Procedures have been implemented to assure Quality Assurance Quality Control (QAQC) of drill hole assaying being done at ALS Global, which is ISO Accredited. All intervals of drill holes are being assayed and samples are securely stored for shipment to ALS, with chain of custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 30th sample in sequence and results are graphed to assure acceptable results, resulting in high confidence of the drill hole assay results. When laboratory assays are received, the QAQC results are immediately evaluated and graphed to analyze dependability of the drill hole assays. As the Copperstone Project advances, additional QAQC measures will be implemented including selected duplicate check assaying on pulps and coarse rejects at a second accredited assay laboratory. All results will be analyzed for consistency.
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained
herein.
https://www.globenewswire.com/news-release/2019/04/04/1796897/0/en/Kerr-Mines-Drills-12-2-Meters-of-11-7-g-t-Gold-at-Copperstone.html
Major Drilling gets Kerr resource expansion underground drilling contract at Copperstone gold mine
Kerr Mines Inc has announced that the Phase II Resource Expansion Program will begin mid- January 2019 at the Copperstone Mine located in Arizona, USA. In addition, Kerr is progressing with environmental and operating permit modifications and continuing with advanced metallurgical testwork. Major Drilling Group International has been awarded the contract and is preparing to commence with drilling.
https://www.majordrilling.com/
A 15,000 m underground resource expansion program will culminate in Q3 2019 with an updated Resource Statement and Reserve Study intended to increase the 38,000 gold ounce per annum mine life by 3-4 years to a total of 8 years. Phase II Resource Expansion Program consists of exploration drilling with the purpose of adding new resources and in-fill drilling for the purposes of converting existing resources to higher classification and potential inclusion into reserves. Existing operating permit modifications are well underway and are expected to be received by end of Q1 2019. All remaining permits required for mine operations and gold production are in place and do not require modification. Metallurgical testing to provide information for detailed gold processing plant design is expected to be complete during Q1 2019. Additional metallurgical testwork to provide the information needed for the potential monetisation of copper as a by-product revenue stream.
The 15,000 m resource expansion program will be stationed from the 4 km of existing underground access and focused primarily on the C & D Zones of the Copperstone Zone. The objective of the resource expansion program is to increase reserves and increase mine life by 3-4 years to a total of 8 years. As such, the focus will be on targeting areas of Measured and Indicated that are not already included in Proven and Probable reserves as well as converting Inferred tons to Measured and Indicated classification. In addition, the program will target areas along strike and down dip with the intent of growing the existing Inferred ore tonnes and ounces of gold. Any newly identified Inferred will then be available for conversion into higher classifications with future drilling. The program will be executed by Major, a multinational provider of drilling services with a strong record of safety and performance.
Certain existing permits require minor modification in order to facilitate changes in key attributes of the project as it progresses to gold production. Among the changes are higher throughput of 600 ore tonnes per day and the use of a whole ore leaching process for recovery of the gold ore. State of Arizona environmental permits governing air and water and the Federal operating permit are slated to be received by the end of Q1 2019. The approval of these changes indicate a benefit to the mine economics because of the increased throughput and the higher recoveries allowed by leaching as discovered in the 2018 43-101 engineering study, 600 ore tonnes per day and 95% average gold recoveries with no concentrate charges.
The primary purpose is to validate prior results of average 95% recovery of gold and to refine reagent consumption and leach times. The results of these tests will be for final detailed plant design. The secondary purpose is to perform testing to evaluate the economic viability of incorporating a Sulphidisation-Acidification-Recycle-Thickening (SART) circuit to the planned mineral processing plant. A SART circuit can reduce operating costs by reducing reagent consumption and add revenue from the recovery of copper from the gold ore.
“We are looking forward to this underground drilling program and subsequent update of Resources and Reserves. The company will release drill results once adequate drilling has been completed” said Martin Kostuik, President. “Other catalysts for the Copperstone Mine such as the receipt of the permit modifications and the conclusion of our detailed metallurgical testing are significant milestones for the first part of this year.”
https://im-mining.com/2019/01/08/major-drilling-gets-kerr-resource-expansion-underground-drilling-contract-copperstone-gold-mine/
Waiting for the results from Major Drilling is .... Glad I visited their booth at PDAC 2019
https://www.majordrilling.com/media/ I am thinking late in Q3 ?
Present Resource Expansion Dilling is to be completed at Copperstone in Arizona at the end of June... Kerr needs to rapidly provide these drill results and they need to be positive... and double the mine life to at least eight+ years and the measured and indicated of high grade gold needs to double imho for this stock to actually POP...
If the gold price POPS I am hoping that Kerr will try to move up some of its time-lines which would not be easy... ?
The wait for these Copperstone drill results is becoming quite frustrating but will the wait be worth it?
Personally, I think $$$ or Sprott would DUMP Kerr Mines imho
https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-January-2019.pdf
https://www.sprottmoney.com/
http://www.sprott.com/digital-precious-metals/
http://www.sprott.com/
“Featured Interview: CEO Claudio Ciavarella of Kerr Mines Inc. (OTCQB: KERMF)...”
http://www.sprott.com/investment-strategies/digital-gold/
https://upticknewswire.com/featured-interview-ceo-claudio-ciavarella-of-kerr-mines-inc-otcqb-kermf/
CEO Claudio Ciavarella of Kerr Mines Inc., (OTCQB: KERMF)(TSX: KER) returns to the show to give an update on being a high-grade gold mine in Western Arizona, expanding the mine life, and plans to enter into production by 2020.
https://www.sprottmoney.com/
https://kerrmines.com/
http://m.digitaljournal.com/pr/4203026
“...UK Gold Price Jumps 2.3% as May's Brexit Deal Set for Final Defeat
https://www.bullionvault.com/gold-news/gold-price-031220192
Pleased that I made the effort to watch Claudio Ciavarella speak regarding the Copperstone Mine at PDAC earlier today and what struck me during the excellent presentation was not so much the Copperstone MINE as the multimillion au oz potential via the massive footwall parallel zone that is about 15 football fields in length, the southwest highgrade zone and the multiple Blue PEARL golden zones that very much each resemble yet another golden Copperstone Mine...
It was kind of Martin Kostuik, Claudio etc. to take a moment with me and realistically chat about the golden potential at Copperstone in Arizona...
#ciao #bravo #arizona #goldmine #highgrade #usa #canada
“...Kerr Mines “... Kerr Mines announced in a news release it achieved gold recoveries of 97% during metallurgical testing at its Copperstone mine in Arizona. This compares to the 95% achieved in its 2018 prefeasibility study results.
Testing also resulted in lower reagent consumption, of 1.5–2 gram per ton milled versus 2 grams per ton milled. The new recovery level and reduced reagent consumption should "significantly" increase the mine's profitability and shareholder returns, the release noted.
Also achieved through recent metallurgical testing is lowering of the milling cost to $2 per ton from $2.50 per ton.
Overall, the results "confirm and further enhance the economics of the Copperstone mine, as previously published in 2018," said President Martin Kostuik in the release. "Stronger gold recoveries and lower consumption costs will further increase profitability and returns for our stakeholders. As we continue to work towards mine life extension, these results will add considerable value to the Copperstone Mine."
Kerr will continue working to further derisk and advance the mine toward production, the company stated.
Also of note, the company will participate in the upcoming annual meeting of the Prospectors and Developers Association of Canada.
https://www.streetwisereports.com/article/2019/02/28/gold-companys-metallurgical-test-results-suggest-increased-mine-profitability.html
« ...Kerr Mines Metallurgical Test Work
2019-02-26 06:29:49 AM ET (GlobeNewswire)
Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) ("Kerr" or the "Company") is pleased to announce results of advanced metallurgical testing for the Copperstone Mine located in Arizona, USA. In addition, the Company will be participating in the 2019 Prospectors and Developers Association of Canada ("PDAC") annual conference.
Advanced Metallurgical Testing:
-- Achieved 97% gold recovery and lower reagent consumption;
-- Improved recoveries and lower reagent consumption are expected to significantly increase profitability life of mine;
-- Milling cost reduction of US$2.00 to US$2.50 per ton compared to the previously published 2018 Preliminary Feasibility Study;
-- Enables detailed design of the gold ore leach and dore production circuits;
-- Compliments previously announced receipt of the state air permit modification which authorizes construction of the new gold ore leach and dore production circuits (see press release February 5, 2019).
Parameter 2018 PFS Results February 2019 Results Gold recovery to dore 95% 97% Gold Leach Cyanide Consumption 2.0 kg/tonne milled 1.5 to 2.0 kg/tonne milled Reagent Consumption for Destruction of Residual Cyanide in Tailings 0.56 US$/tonne milled 0.77 to 0.99 US$/tonne milled Carbon Consumption 0.5 kg/tonne milled 0.05 to 0.1 kg/tonne milled
"These metallurgical testing results confirm and further enhance the economics of the Copperstone Mine, as previously published in 2018," said Martin Kostuik, President. "Stronger gold recoveries and lower consumption costs will further increase profitability and returns for our stakeholders. As we continue to work towards mine life extension, these results will add considerable value to the Copperstone Mine. Having achieved this important milestone, we will strive to further de-risk and advance the Copperstone Mine towards production. "
Sulfidization-Acidification-Recycle-Thickening ("SART") Test Work:
-- Test work complete and results pending;
-- Purpose is to evaluate the economic viability of incorporating a SART circuit to the planned new gold ore leach processing plant.
-- The SART circuit can further reduce operating costs by reducing reagent consumption and can add revenue through the recovery of copper from the gold ore.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Jeffery Choquette, P.E. of Hard Rock Consulting, LLC., MMSA QP member, who is a "Qualified Person" as defined by NI 43-101 for this project.
*Kerr Mines National Instrument 43-101 Technical Report dated April 11, 2018: Preliminary Feasibility Study for the Copperstone Project, La Paz County, Arizona, USA
PDF Version of 43-101 technical report available: http://kerrmines.com/wp-content/uploads/KerrCopperstone_PFS_43-101.pdf
YouTube: Copperstone Gold Mine KER:TSX 3 min. Investor Tour Video
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305 ... »
Read more at https://stockhouse.com/companies/bullboard/t.ker/kerr-mines-inc?postid=29412853#wFD7zFJoGHu8wuP8.99
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/58694-kerr-mines-achieves-97-gold-recovery-from-metallurgical-test-work.html
“...(Kitco News) - Gold prices are solidly up and hit a 10-month high in early U.S. trading Tuesday. Technical buying and ideas of easier monetary policies being put in place by the world’s major central banks are boosting the precious metals markets. The gold and silver bulls are especially impressed by the ability of prices to rally in the face of a strong U.S. dollar index. There are no early chart clues gold’s push higher will end anytime soon. April gold futures were last up $12.70 an ounce at $1,334.90. March Comex silver was last up $0.087 at $15.83 an ounce.
The Federal Reserve’s FOMC minutes are due out Wednesday afternoon and will be closely scrutinized by traders and investors. The recent change in Fed policy stance to one of more accommodative monetary conditions has been a significantly bullish underlying factor for the metals markets.
Asian and European stock markets were mixed to lower overnight. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins, following a three-day U.S. holiday weekend. Traders and investors are not as upbeat this week as last, even though there are no major fresh news developments in the markets.
The ongoing U.S.-China trade talks taking place this week in Washington, D.C. will be closely monitored by the world marketplace. Ideas are mixed on a final deal being reached by the U.S.-imposed early-March deadline.
The U.K. Brexit saga continues to play out, with no deal in place as the late-March deadline approaches for that country to leave the European Union.
Gold development
DATE
Monday, March 4, 2019
LOCATION
Room 801A
Chair: Mark Mihaljevic, RBC Capital Markets
Add to Calendar
3:45 PM - 4:00 PM
Kerr Mines Inc.
Speaker(s):
Claudio Ciavarella
https://www.pdac.ca/convention/programming/corporate-presentation-forum-for-investors/sessions/corporate-presentation-forum-for-investors/gold-development
“...An updated resource and reserve estimate should be completed before the end of the year.
In addition to the drill program, Kerr Mines will be validating the 95% recoveries it achieved during its engineering study in late-2017 and early-2018.
“The metallurgical work that was previously done was based on a flotation circuit and got 85% recoveries, while we determined with minor modifications we could increase recoveries to 95% — a major increase,” Ciavarella says.
The company recently received an air permit from the State of Arizona that gives it permission to build the whole ore leach and SART gold processing systems.
The air permit allows the company to modify processing from flotation to whole ore leach. “It’s tank leaching, where you’re leaching the gold out of the rock primarily through the use of consumables and reagents,” he explains. “The leaching process that we want to use is actually what was used by the original miner — Cypress Minerals back in the 1980s and early 1990s.”
In addition, Kerr is evaluating whether it should incorporate a SART circuit to the planned gold processing plant. The Sulfidization-Acidification-Recycle-Thickening circuits can trim operating costs by reducing the consumption of reagents and can add revenue from the recovery of copper from gold ore....”
https://www.northernminer.com/news/kerr-mines-focuses-on-mine-life-extension-at-copperstone-in-arizona/1003803919/
»...
Firm Commences Gold Resource Expansion Program and Receives Permit
« ...Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) announced in a news release it initiated its 2019 phase 2 resource expansion program at its Copperstone mine in Arizona.
With the maximum 15,000 meter (15,000m) underground program, Kerr aims to add another three to four years to the mine life, taking it to eight, at a rate of 38,000–40,000 ounces of gold per year.
Drilling will focus specifically on the C and D zones of the Copperstone zone, which was historically mined as an open pit. It will impact an area encompassing 500 meters of strike length and 200m of elevation, which amounts to one-third of the current resource's strike length.
In other news, Kerr obtained an essential change to its environmental permit regarding air. It allows the company to build the planned additions to the existing plant for the gold processing systems of whole ore leach and sulfidization, acidification, recycling and thickening. Modifications to the federal operating permit and state water permit are in progress.
Kerr Mines is currently working to complete advanced metallurgical testing in Q1/19.... »
https://www.streetwisereports.com/article/2019/02/06/firm-commences-gold-resource-expansion-program-and-receives-permit.html
“...Kerr Mines Commences Resource Expansion Program and Receives Air Permit
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/57835-kerr-mines-commences-resource-expansion-program-and-receives-air-permit.html
« ...Kerr Mines strengthens Board with the appointment of Giulio T. Bonifacio
« ...TORONTO, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is very pleased to welcome back to the Copperstone Project Giulio T. Bonifacio as a new member to the Board of Directors.
Mr. Bonifacio was the Co-Founder and Director of American Bonanza Gold Corp. from 2002 – 2012 during the initial development and advancement of the Copperstone Project into a high grade underground mining opportunity.
Mr. Bonifacio was the Founder, President and Director of Nevada Copper since its inception in 2005 until his retirement in February 2018. Over the 13-year period, he led and directed efforts at every stage of the Company’s efforts which included resource expansion, feasibility studies and the successful permitting of both the underground and open pit deposits at the Company’s Pumpkin Hollow project located in Nevada. Additionally, Mr. Bonifacio led efforts toward the completion of production-sized headframe, hoist and 1,900-foot-deep, 24-foot diameter concreted lined production sized shaft, all of which will lead to a shortened construction period at Pumpkin Hollow. Mr. Bonifacio was also integral to Nevada Copper attaining a significant refinancing package in December 2017, which now currently positions the Pumpkin Hollow project to progress into commercial production by early 2020.
Over his 30 years of experience in senior executive roles in the mining industry, Bonifacio has raised directly over $700 million in capital through equity and project debt financings for projects of merit as well as being involved in corporate transactions aggregating in excess of US$1 billion.
Mr. Bonifacio is a Chartered Professional Accountant with extensive experience and knowledge of operations, capital markets, project finance, mergers and acquisitions. Mr. Bonifacio has held previous senior executive roles with Getty Resources Limited, TOTAL Energold Corp., an energy and gold producer and Vengold Inc., gold producer prior to founding American Bonanza and Nevada Copper.
“I am very pleased to welcome Giulio to our Board, his knowledge and experience will add tremendous value to our team as we progress through this very important transition to production. Giulio has a great passion for the Copperstone Project and recognizes the potential ahead of us which has attracted him to join our team” stated Claudio Ciavarella, CEO.
Giulio T. Bonifacio, stated:
“I look forward to working with Claudio and the Board to advance Copperstone to commercial production and commend the entire team for the advancement of the project to date. From the initial formation of American Bonanza I have always been of the view that Copperstone has enormous potential by way of its existing infrastructure, permits, grade and manageable capex requirements. Additionally, the multi-million ounce exploration potential of the project cannot be overlooked.”
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
PDF Version of 43-101 technical report available:
http://kerrmines.com/wp-content/uploads/KerrCopperstone_PFS_43-101.pdf
YouTube: Copperstone Gold Mine KER:TSX 3 min. Investor Tour Video
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
https://globenewswire.com/news-release/2019/01/31/1708198/0/en/Kerr-Mines-strengthens-Board-with-the-appointment-of-Giulio-T-Bonifacio.html
Well if your going out of business you do not hire a new incredibly talented local Director !
Well, I am impressed !
“...Western United States, and in Arizona in particular, the mining industry is a vibrant and valuable part of the economy and has been for more than a century.
There is an incredible inventory of economic mineral deposits in the rust-colored lands. When combined with pro-mining communities and government, Arizona ranks in the top 10 mining jurisdictions globally. This makes the state a highly attractive location for mining companies to invest.
Claudio Ciavarella knows this all too well. He’s a professional accountant by trade, as well as a private business owner. As a long-time investor in the precious metals space, he has a deep understanding of the mining landscape.
For the past 12 years, Ciavarella has been an investor in Kerr Mines and its Copperstone Project, a high-grade, fully permitted gold deposit. Today, he is the second largest shareholder of the company, and its CEO.
“There are many aspects that make Kerr Mines unique from other junior mining companies,” he shared. “As a private business owner, I know how critical every dollar is to the success of a company.”
A Company in Friendly Hands
In early 2016 the company was facing financial difficulties. At the time, the sector was also suffering and many companies were facing bankruptcy or being sold below book value.
https://thebossmagazine.com/mining-industry-kerr-mines-2/
Deeply undervalued...imho
“...
Gold’s Next Move Up Is Coming As Brexit Weighs On Markets — INTL FCStone
“...Kitco News) - Gold prices will have a better year in 2019, according to INTL FCStone, which projects much higher price levels once the $1,300 level is breached.
“Gold [will] do better this year than it did in 2018. During 2019, we see gold trading roughly between $1,200-$1,400,” INTL FCStone’s Edward Meir said in the Monthly Market Overview report published on Tuesday. “Especially if prices manage to bust through psychologically important $1,300 resistance and make a stab at testing the 2018 highs.”
https://www.kitco.com/news/2019-01-15/Gold-s-Next-Move-Up-Is-Coming-As-Brexit-Weighs-On-Markets-INTL-FCStone.html
https://www.streetwisereports.com/article/2019/01/08/with-sprott-financing-in-hand-company-announces-arizona-gold-mine-resource-expansion-plan.html
https://kerrmines.com
Hmmm?
« ...Goldman predicts gold prices to climb to highest since 2013
« ....Goldman Sachs Group Inc. is leading a pack of bullish voices cheering for gold.
The New-York based bank’s analysts led by Jeffrey Currie raised their price forecast for gold, predicting that over the next 12 months, the precious metal will climb to US$1,425 an ounce -- a level not seen in more than five years. Bullion has benefited as rising geopolitical tensions fuel central bank purchases while fears of a recession helped boost demand from investors seeking “defensive assets,” they said.
Even exchange-traded funds are piling into bullion, taking their holdings to the highest since May. On the Comex in New York, prices have climbed 10 per cent from a low in August. Speculative interest in the gold signals investors are not only closing bearish bets but are also adding to their bullish position, Suki Cooper, a New York-based analyst at Standard Chartered, said in a note.... »
Gold is also getting a boost from mounting speculation the Federal Reserve may pause in raising borrowing costs, boosting the appeal of non-interest-bearing metal.
“We expect the safe haven bid, and to a lesser extent, gold’s inflation hedge properties, to remain key drivers of the metal’s price in 2019, complemented by a resurgence of physical demand,’’ Cantor Fitzgerald analysts led by Mike Kozak said in a report. Gold and silver are ‘‘looking good in 2019,’’ underlining a potentially positive indicators that ‘‘should drive a bullish case” for both metals “and as a result, the related equities as well.’’
https://kerrmines.com
https://www.bnnbloomberg.ca/goldman-predicts-gold-prices-to-climb-to-highest-since-2013-1.1196523
Read more at http://www.stockhouse.com/companies/bullboard/t.ker/kerr-mines-inc?postid=29215082#hwVlACzbajStGpKM.99
Kerr Mines is on Hot Stocks ...
https://stockdigest.info/2019/01/10/stock-in-the-spotlight-kerr-mines-inc-tsxker/
REALLY?
“...Kerr Mines Inc has announced that the Phase II Resource Expansion Program will begin mid- January 2019 at the Copperstone Mine located in Arizona, USA. In addition, Kerr is progressing with environmental and operating permit modifications and continuing with advanced metallurgical testwork. Major Drilling Group International has been awarded the contract and is preparing to commence with drilling.
A 15,000 m underground resource expansion program will culminate in Q3 2019 with an updated Resource Statement and Reserve Study intended to increase the 38,000 gold ounce per annum mine life by 3-4 years to a total of 8 years. Phase II Resource Expansion Program consists of exploration drilling with the purpose of adding new resources and in-fill drilling for the purposes of converting existing resources to higher classification and potential inclusion into reserves. Existing operating permit modifications are well underway and are expected to be received by end of Q1 2019. All remaining permits required for mine operations and gold production are in place and do not require modification. Metallurgical testing to provide information for detailed gold processing plant design is expected to be complete during Q1 2019. Additional metallurgical testwork to provide the information needed for the potential monetisation of copper as a by-product revenue stream.
The 15,000 m resource expansion program will be stationed from the 4 km of existing underground access and focused primarily on the C & D Zones of the Copperstone Zone. The objective of the resource expansion program is to increase reserves and increase mine life by 3-4 years to a total of 8 years. As such, the focus will be on targeting areas of Measured and Indicated that are not already included in Proven and Probable reserves as well as converting Inferred tons to Measured and Indicated classification. In addition, the program will target areas along strike and down dip with the intent of growing the existing Inferred ore tonnes and ounces of gold. Any newly identified Inferred will then be available for conversion into higher classifications with future drilling. The program will be executed by Major, a multinational provider of drilling services with a strong record of safety and performance.
Certain existing permits require minor modification in order to facilitate changes in key attributes of the project as it progresses to gold production. Among the changes are higher throughput of 600 ore tonnes per day and the use of a whole ore leaching process for recovery of the gold ore. State of Arizona environmental permits governing air and water and the Federal operating permit are slated to be received by the end of Q1 2019. The approval of these changes indicate a benefit to the mine economics because of the increased throughput and the higher recoveries allowed by leaching as discovered in the 2018 43-101 engineering study, 600 ore tonnes per day and 95% average gold recoveries with no concentrate charges.
The primary purpose is to validate prior results of average 95% recovery of gold and to refine reagent consumption and leach times. The results of these tests will be for final detailed plant design. The secondary purpose is to perform testing to evaluate the economic viability of incorporating a Sulphidisation-Acidification-Recycle-Thickening (SART) circuit to the planned mineral processing plant. A SART circuit can reduce operating costs by reducing reagent consumption and add revenue from the recovery of copper from the gold ore.
“We are looking forward to this underground drilling program and subsequent update of Resources and Reserves. The company will release drill results once adequate drilling has been completed” said Martin Kostuik, President. “Other catalysts for the Copperstone Mine such as the receipt of the permit modifications and the conclusion of our detailed metallurgical testing are significant milestones for the first part of this year.”
https://im-mining.com/2019/01/08/major-drilling-gets-kerr-resource-expansion-underground-drilling-contract-copperstone-gold-mine/
“... Kerr Mines Announces $2.5 Million Private Placement
”...TORONTO, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) announces that it intends to complete a private placement offering of approximately 17,857,143 units of the Company at a price of $0.14 for gross proceeds of $2.5 million (the "Offering"). The Company will use the net proceeds from the Offering along with the funding from the financing facility provided by Sprott Resource Lending, see Press Release November 6, 2018, to fund the resource expansion, engineering and development at the Copperstone Mine.
“This financing, along with the funds provided by Sprott Resource Lending, allows us to continue the execution of our strategy of resource expansion and progressing the Copperstone Mine into production,” stated Claudio Ciavarella Kerr’s Chief Executive Officer. “As a show of confidence, the Board of Kerr Mines intends to participate in this financing.”
The Offering is scheduled to close on or about November 23, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange ("TSX"). Each Unit shall consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). All securities issued pursuant to the Offering shall be subject to a hold period of four months from the date of closing. Each Warrant shall entitle the holder thereof to purchase one Common Share at a price of CDN$0.21 per Common Share for a period of twenty-four (24) months from the Closing Date provided that if, at any time the Common Shares trade on a stock exchange at a volume weighted average trading price of CDN$0.30, or greater, per Common Share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizonademonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
PDF Version of 43-101 technical report available:
http://kerrmines.com/wp-content/uploads/KerrCopperstone_PFS_43-101.pdf
YouTube: Copperstone Gold Mine KER:TSX 3 min. Investor Tour Video
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
https://globenewswire.com/news-release/2018/11/09/1648824/0/en/Kerr-Mines-Announces-2-5-Million-Private-Placement.html
“With Sprott Financing in Hand, Company Announces Arizona Gold Mine Resource Expansion Plan
“...With major financing from Sprott Private Resource Lending and a private placement, a mining company arranges to further develop its high-grade gold project in Arizona.
Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) just announced that its phase 2 resource expansion plan designed to extend mine life at its flagship Copperstone Mine in Arizona will begin in mid-January. The company also noted that it is "progressing with environmental and operating permit modifications and continuing with advanced metallurgical testing."
CEO Claudio Ciavarella stated that Copperstone is a "relatively simple and straightforward project, which includes 420,000 ounces of gold with 175,000 ounces in reserve."
Currently, there's a 4.5-year mine life, but the company expects to extend this to 8–10 years in the near term through the drilling program. According to Kerr Mines, the 15,000-meter underground resource expansion program will "culminate in Q3 2019 with an updated Resource Statement and Reserve Study intended to increase the 38,000 gold ounce per annum mine life by 3–4 years to total of 8 years."
The exploration drilling is to add "new resources and in-fill drilling for the purposes of converting existing resources to higher classification and potential inclusion into reserves," the company stated.
The majority of the drilling will be done in the C and D zones of the Copperstone Zone. The company anticipates publishing an updated resource statement in the third quarter of 2019.
In addition, the company will be completing minor modifications to existing permits that are on hand to take advantage of upsides uncovered in the NI 43-101 engineering study that was published in the second quarter of 2018. The company noted that it expects to receive the modifications by the end of this quarter.
Furthermore, the company is in process of completing additional metallurgical testing to validate the 95% recovery rates as published in the NI 43-101 study.
As an additional aspect of the metallurgical testing, Kerr Mines noted that it is evaluating an opportunity to monetize copper by-product that is present in the orebody. If the economics prove to be positive, the company will then consider an additional investment of approximately US$3.5 million in a process known as sulfidization, acidification, recycling, and thickening (SART). If all pans out, management expects a year or two turnaround on the investment, expecting to add approximately US$2 million annually to the company's bottom line as a result of additional revenue and trimming of operation costs.
Financing
Kerr Mines announced in late November that it had arranged a $25-million senior secured project financing from SprottPrivate Resource Lending.
Management noted at the time that it intends to use the funds for the development and production of gold at the Copperstone Mine.
CEO Ciavarella expressed three main benefits, "First, it's very favorable financing in terms of the market. Second, the transaction is operationally structured in line with our own plans and how we want to move the Copperstone Mine project forward. Third, there's tremendous flexibility in terms of executing growth strategies over the next few years."
Instead of taking the $25 million in lump sum, the company stated the deal is split into two separate phases.
"The proposed financing has been structured to be completed and advanced in two main phases, with an initial phase of $4 million."
As a function of the first part, there's a $2-million note and a $2-million gold loan included in the Sprott financing. "The note will bear interest at a rate of 9% per annum payable semi-annually and matures on May 31, 2020," according to the agreement.
At any time (prior to the maturity), the company can convert the note into common shares at a conversion price of CA$0.16 per share. The company also has the option to redeem the note at any time by "paying the outstanding principal amount in cash, or with the agreement of the holder, in shares of the company, together with interest payable to maturity."
The gold loan, on the other hand, can be paid back in cash "based on a notional amount of 2,160 oz of gold priced at the greater of $1,200 and the spot price of gold one day prior to maturity. The Gold Loan will mature on May 31, 2020, provided that it will be consolidated into the Phase 2 financing if completed prior to maturity."
The company announced the closing of its $2 million note with Sprott Funding the end of November.
"We have taken another very important step forward in the execution of our strategy and development plans for the Copperstone Gold Mine. This financing will allow the company to commence a resource expansion program and complete key elements of progressing the Copperstone Mine back into production" stated Ciavarella.
$20-Million-Plus Facility
In late Q2/19, Kerr plans to launch phase 2, tackling the $21-million financing to advance the project to production. It will be an 8-month process ending in 2020. The loan for the facility is repayable 48 months after closing.
Ciavarella says that the phase 2 program will be focused on advancing the Copperstone Mine back to production. The use of the capital will be allocated to three primary areas: ordering mining equipment, the construction of plant modifications and additional mine development.
By Q4/19, the company plans to begin mining, and it anticipates gold production by Q1/20.
Other Catalysts
Aside from the Sprott Lending financing, the company also closed a private placementthe tail-end of November 2018.
According to a recent company release, Kerr Mines completed the offering consisting of 21,239,409 shares of the company at a price of CA$0.14, for total gross proceeds of CA$2,973,517.
Kerr shares currently sit at CA$0.14 and the company has a market capitalization of approximately CA$38 million.
https://www.streetwisereports.com/article/2019/01/08/with-sprott-financing-in-hand-company-announces-arizona-gold-mine-resource-expansion-plan.html
“...
Kerr Mines Announces Resource Expansion Program and Provides Near Term Objectives
“...
Major Drilling Group International Inc. (“Major”) has been awarded the contract and is preparing to commence with drilling.
15,000 meter underground resource expansion program will culminate in Q3 2019 with an updated Resource Statement and Reserve Study intended to increase the 38,000 gold ounce per annum mine life by 3-4 years to total of 8 years.
Phase II Resource Expansion Program consists of exploration drilling with the purpose of adding new resources and in-fill drilling for the purposes of converting existing resources to higher classification and potential inclusion into reserves.
Existing operating permit modifications are well underway and are expected to be received by end of Q1 2019.
All remaining permits required for mine operations and gold production are in place and do not require modification.
Metallurgical testing to provide information for detailed gold processing plant design is expected to be complete during Q1 2019.
Additional metallurgical testwork to provide the information needed for the potential monetization of Copper as a by-product revenue stream.
The Phase II Resource Expansion Program
The 15000 meter resource expansion program will be stationed from the 4 kilometers of existing underground access and focused primarily on the C & D Zones of the Copperstone Zone. The objective of the resource expansion program is to increase reserves and increase mine life by 3-4 years to a total of 8 years. As such, the focus will be on targeting areas of Measured and Indicated that are not already included in Proven and Probable reserves as well as converting Inferred tons to Measured and Indicated classification. In addition, the program will target areas along strike and down dip with the intent of growing the existing Inferred ore tons and ounces of gold. Any newly identified Inferred will then be available for conversion into higher classifications with future drilling. The program will be executed by Major, a multinational provider of drilling services with a strong record of safety and performance.
Permit Modifications
Certain existing permits require minor modification in order to facilitate changes in key attributes of the project as it progresses to gold production. Among the changes are higher throughput of 600 ore tons per day and the use of a whole ore leaching process for recovery of the gold ore. State of Arizona environmental permits governing air and water and the Federal operating permit are slated to be received by the end of Q1 2019. The approval of these changes indicate a benefit to the mine economics because of the increased throughput and the higher recoveries allowed by leaching as discovered in the 2018 43-101 engineering study (see press release April 10, 2018), 600 ore tons per day and 95% average gold recoveries with no concentrate charges.
Metallurgical Testing
The primary purpose is to validate prior results of average 95% recovery of gold and to refine reagent consumption and leach times. The results of these tests will be for final detailed plant design. The secondary purpose is to perform testing to evaluate the economic viability of incorporating a Sulfidization-Acidification-Recycle-Thickening (“SART”) circuit to the planned mineral processing plant. A SART circuit can reduce operating costs by reducing reagent consumption and add revenue from the recovery of Copper from the gold ore.
“We are looking forward to this underground drilling program and subsequent update of Resources and Reserves. The Company will release drill results once adequate drilling has been completed” said Martin Kostuik, President. “Other catalysts for the Copperstone Mine such as the receipt of the permit modifications and the conclusion of our detailed metallurgical testing are significant milestones for the first part of this year”.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold projectlocated along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
PDF Version of 43-101 technical report available: Click Here
YouTube: Copperstone Gold Mine KER:TSX 3 min. Investor Tour Video
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
...”
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/56672-kerr-mines-announces-resource-expansion-program-and-provides-near-term-objectives.html
Gold development PDAC
DATE Monday, March 4, 2019
LOCATION
Room 801A
3:45 PM - 4:00 PM
Kerr Mines Inc. https://www.pdac.ca/convention/programming/corporate-presentation-forum-for-investors/sessions/corporate-presentation-forum-for-investors/gold-development
https://cambridgehouse.com/vancouver-resource-investment-conference?gclid=EAIaIQobChMI0cars5fZ3wIVEyhpCh0FXgMsEAAYASAAEgKGHvD_BwE
Well, I am pleased that at least PDAC posted this regarding KERR MINES...
Followers
|
4
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
596
|
Created
|
07/28/14
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |