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« ...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.
“...(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.
https://kerrmines.com
Speaker(s):
Claudio Ciavarella
https://www.pdac.ca/convention/programming/corporate-presentation-forum-for-investors/sessions/corporate-presentation-forum-for-investors/gold-development
https://www.rbccm.com/en/
https://www.rbccm.com/fr/
https://www.rbcroyalbank.com
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
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
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/
“...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
»...
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 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
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
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.
« ...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
“...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
“...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
An 11% drop in the Kerr Mines’ share price on a tiny trade or dump... Frustrating and very concerning, in my humble opinion... Particularly for the investors...
https://kerrmines.com/investors/
“...
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?
“...
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
« ...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 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.”
“...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
“... 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
NYBob probably, “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
PepsiMan FINALLY, “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
“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
“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
“...
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... https://kerrmines.com
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...