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05/31/17 1:32 AM
06/09/17 5:55 PM
Kerr Mines, Inc. (OTCQB: KERMF) Gains 15.92% After Uplisting to the OTCQB Exchange
June 7, 2017
Emerging Growth News Commodities
Kerr Mines, Inc. (OTCQB: KERMF) is engaged as a gold exploration, development, and extraction company. Shares of the gold miner are rallying 15.92%, through afternoon trading on Wednesday, June 7, 2017. Over the past month, Kerr Mines, Inc. has seen average daily volume of 57,852 shares. However, volume of 87,464 shares or dollar volume of $13,434, has already exchanged hands on Wednesday.
Cuando Theresa May convocó a estas elecciones declaró: "Cada voto para los conservadores me hará más fuerte cuando negocie para Reino Unido con primeros ministros, presidentes y cancilleres de la Unión Europea".
Hoy, la primera ministra británica no es más fuerte ni tiene el "claro mandato" que buscaba.
Su partido ni siquiera tiene una mayoría en el Parlamento.
Elecciones en Reino Unido: el Partido Conservador de Theresa May no consigue la mayoría absoluta para formar gobierno sin necesidad de coaliciones Tras las elecciones generales del jueves, en las que ningún partido ganó los 326 escaños necesarios, la primera ministra se vio forzada a formar un gobierno de minoría con el Partido Unionista Democrático (DUP) de Irlanda del Norte.
Qué es el DUP, el partido que formó gobierno en Reino Unido, y las dudas que genera
Y el país se ha visto sumido en la incertidumbre.
06/13/17 7:09 AM
06/20/17 9:17 PM
06/25/17 8:01 AM
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Peter Damouni
2.
Reason for the notification
a)
Position/status:
Non-Executive Director
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Georgian Mining Corporation
b)
LEI:
2138002IOR7OCZZPB279
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Share options over ordinary shares of no par value
VGG9688A1003
b)
Nature of the transaction:
Grant of options over ordinary shares
c)
Price(s) and volume(s):
Price(s) 18.25 pence
Volume(s) 1,000,000
d)
Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) 18.25 pence
Volume(s) 1,000,000
e)
Date of the transaction:
2017-06-23
18:30 hrs UTC
f)
Place of the transaction:
Outside a trading venue
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AIM Rule 26
The following information is disclosed in accordance with Rule 26 of the AIM Rules.
Last updated: 05.10.2016
Business Description
Click here to view a description of Georgian Mining Corporation’s business.
Directors Names and Biographies
Click here to view the names and biographies of Georgian Mining Corporation’s directors.
Board members’ responsibilities
Click here to view a description of the responsibilities of the members of the board of directors and details of any committees of the board of directors and their responsibilities.
Country of Incorporation and Main Country of Operation
Georgian Mining Corporation is incorporated and registered in the British Virgin Islands with the company number 1570939. Its main country of operation is Georgia. As the Company is not incorporated in the UK, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company.
Georgian Mining Corporation is not listed on any other exchanges or trading platforms.
Constitutional and Admission Documents
Click here to view Georgian Mining Corporation’s constitutional and admission documents and any circulars sent to shareholders within the past 12 months.
Company Reports
Click here to view the Company’s Annual Reports and Half Yearly Report..
Share Price Information
Significant Shareholders
The Company is listed on AIM. The Company does not hold any ordinary shares in the Treasury.
Issued and fully paid
Number: 114,574,491
Major Shareholders
As of 30 May 2017 the Company is aware of the following who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are set out below.
Shareholder Number of ordinary shares %of issued capital
TB Amati UK 6,712,491 5.86
Fahad Al-Tamimi 6,149,075 5.37
Mr Leo N. S. Berezan 6,148,100 5.37
Edale Capital LLP 4,968,750
06/29/17 5:03 PM
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per 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. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which includes a production history of over 500,000 ounces of gold. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
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.
SOURCE Kerr Mines Inc.
07/08/17 8:28 PM
KERR MINES TRIES PRODUCTION STYLE IN ARIZONA
Kerr Mines has successfully rehabilitated the Copperstone project in Arizona. Now the company is aiming to start production by 2019.
Sometimes you do not have to reinvent the wheel to get to your destination. There are many projects worldwide that have had to adjust their production in weaker gold price phases. And there are at least as many mines that have failed due to management errors. Often it sounds simple, but with one or two changes to the operation, you have a fully functional mine and produces cash flows. However, many projects have simply gone too far into production without having really understood the geology and texture of the rocks.
On average, it takes eight to ten years from the first well to the first casting of a gold bar. But you do not always have to start at zero. Many projects can be purchased or revived. At Kerr Mines, production could begin in early 2019, in less than 1.5 years.
Location, location, location
Based in the Canadian Toronto, the company is owned by the Copperstone project in the US state of Arizona. The prestigious Fraser Institute leads Arizona to number seven of the world's best places to operate or explore a mine. So it does not get any better.
Benefit from the mistakes of predecessors
In June 2014, Kerr Mines took over the then almost insolvent producer American Bonanza Gold and thus the Copperstone Mine. American Bonanza was forced to drive down the mine in October 2013 before commercial production was reached.
Kerr's predecessor built the mine in 2011 and started to operate the mill in November 2011. But from the beginning it did not go well. According to the last feasability study, construction costs should be $ 17.7 million.
At the end of December 2011 the costs were already at a rich US $ 27.4 million.
Kerr Mines saves millions
The additional costs are primarily due to two factors. A mere $ 6.6 million had to be raised to replace the contracted service provider who was to operate the mine. So you were forced to buy your own mining fleet and then wait. Kerr now owns exactly this mining fleet.
From Kerr Mines' point of view, another point is pure gold. The former owner has already complied with the requirements of the regulatory authorities in every detail. Thus the tailings-Pond was adapted during the construction. Instead of as originally calculated 1.7 million US dollar, it cost then 5.1 million US dollar. Kerr can now also save on these costs.
Savior with proper timing
The mill on the Copperstone project itself is also brand new. The capacity was originally designed for an annual production of around 46,000 ounces of gold. During the picking phase, however, the desired utilization rate of at least 60% was not achieved over 30 days. The reasons for this have been manifold. Among other things, the squeeze of the service provider, who was to manage the mine, caused significant delays. In the end, American Bonanza simply ran out of funds to continue the mine. In the course of the merger, Kerr Mines jumped as a savior to the company in 2014.
However, the mill on Copperstone worked excellently and delivered earnings rates close to the target of 90%. In the course of the decommissioning of the mine, American Bonanza has also ensured that all equipment is stored in such a way that it can be reused directly. Kerr Mines also benefits from this.
The biggest advantage at all
A point that has so far gone a little bit: Kerr Mines is by taking possession of all permits for the operation of the mine in Arizona. Often, this factor costs most of the time and thus a lot of money. Kerr Mines already holds all the permits and is likely to have saved a double-digit million sum.
Translated from German to English..
07/14/17 2:10 PM
KERR MINES is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package. The focus for the Company is to maximize Copperstone’s potential by defining and expanding current resources and strengthening the mine’s economics leading to a production decision.
COPPERSTONE HIGHLIGHTS
- Fully permitted with extensive infrastructure in place
- Historically produced ~500,000 oz Au
- Contains 313,000 oz M&I resources* – open at depth
- 11,800ac land package
- Significant exploration upside
MANAGEMENT TEAM
Claudio Ciavarella | CEO,
Director
Martin Kostiuk | President,
Director
Brad Atkinson | Director, Exploration
Chris Hopkins | CFO
BOARD OF DIRECTORS
Fahad Al Tamimi | Chairman
Peter Damouni | Director
Ayman Arekat | Director
James McVicar | Director
TECHNICAL ADVISORS
Patrick Downey
Michael R. Smith
07/18/17 5:18 PM
Copperstone Mine Dewatering and Rehabilitation *Client: Kerr Mines
Location: United States
In 2016, and continuing into 2017, MES was engaged by Kerr Mines to assist with the re-opening of the Copperstone mine MES dewatered and Rehabilitated approximately 5,381 Lineal Feet (Rehab included rebolting, draining loose rock from mesh, cleanup fallen material, installation of steel sets, etc. Caught-up 4 areas of substantial fallout to prevent cave ins). MES shop reconditioned and furnished 4160 volt power center for surface dewatering pump and re-established underground electrical service to work areas. Other work included, removal of bushes/trees from tailings pond, establishment of a discharge water system from mine to tailings pond above pit, cleanup of surface/pit roads and lay downs, salvage of numerous fans, utilities, piping, ducting and electrical from old workings, Constructed sump, personnel platform and overhead pump handling beam. As part of the start up, MES eliminated many potential MSHA citations and hazards with preventive actions, signage, etc. and there were no MSHA or State of Arizona citations when the mine site was inspected.
07/22/17 7:49 AM
08/02/17 3:12 PM
From time to time, TimminsToday will examine the state of mining in Ontario's northeast where, for over a century, gold mining has been the backbone of the local economy.
With over 100 years of mining expertise, the knowledge and skills developed in Ontario's northeast may be as valuable as the gold itself as many companies that cut their teeth in mining in area are exporting their gold mining knowledge to other parts of North America and the world.
Among the great mining names in northeastern Ontario is the Kerr-Addison Mine in Virginiatown, a small community in the Larder Lake-Cadillac gold mining camp, but after more than 100 years of mining in the area Kerr Mines is going in another direction.
In 2014, Kerr shareholders voted to take the mining expertise, that the company developed at the McGarry Gold Mine, and head south to Arizona, where the company purchased the Copperstone mining property in the western part of Arizona, along the Walker Lane Belt near Southern California. That area contains a total known gold endowment of over 40 million ounces of gold.
“McGarry Mine was the flagship resource of Armistice Resources, which changed its name to Kerr Mines in 2014,” said Claudio Ciavarella, president of Kerr Mines.
Kerr Mines is a North American gold development and exploration company based in Toronto.
Kerr’s Ontario properties include The McGarry Mine in McGarry Township near Virginiatown, Ont.; and the Bear Lake property, also in McGarry Township, which consists of 15 patented claims and two mining licences of occupation over 237 hectares of land (585 acres) in McGarry Township just west of the McGarry Mine.
“Kerr acquired the Copperstone mine in Arizona, in 2014, and the same team that was running the McGarry mine evaluated and acquired Copperstone,” said Ciavarella.
“We were contacted by the owners of Copperstone as they were having very similar problems as we were having at McGarry because of the mining downturn,” Ciavarella said.
“Kerr sent our engineers, geologists and mining managers to evaluate the Copperstone site, which like McGarry was an underground mine,” stated Ciavarella. “And through our evaluation we were able to determine Copperstone had a tremendous upside.”
Kerr Mines is now set to develop Copperstone and it is doing so with the skills and knowledge that it developed in Northeastern Ontario.
“Not only did Copperstone have the underground mine asset, but it also had a lot of exploration potential beyond that,” he said. “Copperstone is fully permitted, and has all the infrastructure built – underground access, a mill on site, tailings facility, electrical power, roads, assay labs and work facilities.”
The next steps for Kerr Mines at the Copperstone site is to undertake a definition drill program to further delineate the amount of gold potential at the site and develop a mine plan and economic feasibility study and from there decide on proceeding with gold extraction.
Kerr expects to complete its pre-feasibility study by the end of fiscal year 2017 or the first quarter of 2018.
Copperstone has historically produced about 500,000 ounces of gold. Copperstone contains existing mining infrastructure, that helps reduce investment requirements and speeds up the timeline for production.
As for the future of the McGarry mine site, all options are open according to Ciavarella.
“The development of McGarry Mine always had the challenges of the equity markets, when the markets are good you can go out and do some work on the property, but when the markets are down as they have been since about 2013 then things slowdown,” Ciavarella explained.
“It’s a good site, it is in the Larder Lake-Cadillac break mining district, which is an historic area of gold production,” said Ciavarella. “Last time we were on that project was in 2013, but as the market took a down turn and that is really where it stayed.”
As Kerr Mines refocused their operating priorities, the sold off properties in the Larder Lake area including the original Kerr-Addison mine to Golden Candle
“But we kept our interest in McGarry,” he said. “We are looking at how to bring McGarry, back to life by joint venturing with another company and that is what our next step is- we may move forward on working the mine or we may decide to monetize it.”
The McGarry mine property consists of 31 patented mining claims, three unpatented claims and mining licenses of occupation totaling 1,112 acres, with surface rights on most claims totalling (975.56 acres).
A third property, the Dufay property located just across the border from McGarry Township in Quebec covers an area of 2, 137.55 hectares.
08/08/17 7:37 AM
KERR MINES AWARDS KEY CONTRACTS FOR THE 2017 EXPLORATION PROGRAM AND PRE-FEASIBILITY STUDY
TORONTO, Aug. 8, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTC: KERMF, FRA: 7AZ1) is pleased to announce that it has completed the tender process and has awarded the three key contracts to support the execution of the 2017 Copperstone Mine exploration program and pre-feasibility study.
Hard Rock Consulting ("HRC") of Colorado, has been appointed to conduct the Copperstone Mine pre-feasibility study, which is estimated to be completed by Q1 2018. The pre-feasibility study will be the basis for the decision to proceed towards production of the Copperstone Mine.
In addition, Godbe Drilling LLC ("Godbe") of Arizona, has been awarded the drilling contract, which includes both the surface and underground drilling programs.
DMC Mining Services Corporation ("DMC") of Utah, has been awarded the contract for underground development. The inclusion of the underground development allows the 2017 Copperstone Mine exploration program to access high-priority targets previously unavailable.
HRC is recognized for delivering expertise and providing value added service directly from the highly experienced principals to a variety of mining clients ranging from due diligence to full feasibility studies. This allows HRC to take a hands-on role in providing a cost-effective and prudent move forward strategy. Both Godbe and DMC have extensive experience in their core businesses and share a proven ability to achieve safe performance and deliver excellent results under a variety of conditions. These appointments establish a key milestone in the Company's development strategy by employing strong expertise in engineering, drilling and mine development, in order to advance the Copperstone Mine project towards a production decision.
A competitive bidding, evaluation and selection process was carried out by senior management, which led to these awards. "We are very pleased to have completed the process of selection of the engineering, drilling and mine development contractors, enabling Kerr to execute the 2017 Copperstone exploration program and pre-feasibility study. Detailed planning of the program is well underway and contractors are preparing to mobilize," said Martin Kostuik, President, Kerr Mines.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within 12,000 acre a land package which includes a production history of over 500,000 ounces of gold. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
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.
SOURCE Kerr Mines Inc.
08/17/17 11:18 AM
08/22/17 3:42 PM
Kerr Mines Leads TSX on Mine Development in Arizona
Baystreet Staff - Tuesday, August 22, 2017
There's an exception to every rule and while many mineral explorers and miners have been beaten down in the last couple years, such is not the case for Kerr Mines Inc. (TSX:KER), with the stock rising over 1,000% since a January 2016 low of 2 cents. Shares even hit a multi-year high at 26.5 cents in June before consolidating back to a low of 19 cents yesterday.
Shares are rebounding on Tuesday from that low, positioning Kerr as a top performing TSX-listed stock on news that the Toronto-based company initiated the first phase of the underground drill access mine at its Copperstone Mine project along the Walker Lane in Arizona. In this phase, Kerr plans to complete about 1,200 feet of new exploration drift, a general mining term for a passageway following a vein of ore. Once completed, the drift will give Kerr the opportunity to better define and likely add to the resources as it prepares a pre-feasibility study.
Access to the new drift will utilize existing mine workings between the so-called Footwall and Copperstone zones and extend mine access to the southeast, along the Copperstone Zone's strike. Kerr is looking to prove the upside exploration potential for its 12,000-acre project that has historic production of 500,000 ounces of gold.
The strategic placement of the access serves multiple purposes, including to build upon promising drill results in the Footwall Zone, increase confidence in the Copperstone Zone along strike while increasing its down dip extension and providing access for potential mining in the future.
08/24/17 10:35 AM
08/28/17 9:09 PM
North Korea fires missile over Japan drawing fury
North Korea has fired a missile that flew over northern Japan before crashing into the sea.
No effort was made by the Japanese to shoot down the missile, which was launched early in the morning local time, triggering safety warnings.
Japanese Prime Minister Shinzo Abe called the missile an "unprecedented" threat.
There has a been a wave of North Korean missile tests recently but firing projectiles over Japan is rare.
On Friday and Saturday North Korea fired three short-range missiles into the sea off its eastern coast.
As this latest missile flew towards Japan warning alarms went off across northern Japan, but public broadcaster NHK said there was no sign of any damage.
Mr Abe called the launch an "outrageous act" and an "unprecedented, serious and grave threat [that] greatly damages regional peace and security".
He said his government was doing its utmost to protect people's lives.
09/07/17 12:57 AM
09/11/17 8:10 AM
KERR MINES COMMENCES UNDERGROUND DRILLING AT COPPERSTONE MINE
TORONTO, Sept. 11, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTC: KERMF, FRA: 7AZ1) is pleased to announce that it has commenced with the underground exploration and development drilling campaign for the 2017 Copperstone Mine pre-feasibility study and exploration program. Approximately 4,600 meters (15,000 feet) of drilling is allocated to the first phase with the goals of increasing the confidence levels and ounces of the existing resource in the Copperstone Zone, and further defining the parallel Footwall Zone.
The Copperstone Zone produced over 500,000 ounces of gold between 1987 and 1993 when the pit reached economic limits at the time and when gold prices averaged under $400/troy ounce. The down-dip extension of the Copperstone Zone, located primarily east of and below the bottom of the open pit, has a mineral resource of 313,000 ounces at 0.302 ounce per ton (measured + indicated), estimated in 2010*. The first phase of the underground drilling program will test targets along approximately 520 meters (1,700 feet) of this resource which has a total strike length of 1,250 meters (4,100 feet).
First phase targets in the Copperstone Zone total 4,600 meters (15,000 feet) of drilling and are designed to enhance the existing resource and add more ounces. The exploration drilling strategy includes testing the down dip extensions of the resource and untested areas within the resource, along strike. Many untested areas will be made accessible by the new 365 meter (1,200 feet) exploration drift. The new underground drift will be accessed from existing underground workings and will extend the overall extents of mine access by approximately 365 meters (1,200 feet) to the South East, along the strike of the Copperstone Zone. This access is placed in between the Copperstone Zone and the parallel Footwall Zone, giving simultaneous exploration drilling access to both zones. The drift is also strategically placed to provide access to the Copperstone Zone for potential future mining purposes.
"The underground portion of the 2017 Copperstone exploration program allows for fast access to drilling targets in the Copperstone Zone. We are very excited to commence the first phase of this program. This underground program, combined with the previously announced surface program, is the cornerstone for the forthcoming pre-feasibility study and is a key component to the strategy of advancing the Copperstone Mine project towards a production decision, " said Martin Kostuik, President Kerr Mines.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Michael R. Smith, Registered Geologist., a "Qualified Person" as defined by NI 43-101 for this project.
[color=red][/color]
*Mineral Resource Tabulation – Model capped at 5.0 oz Au/t with a 0.15 oz Au/t cutoff grade, 1,038,000 tons (measured + indicated) - NI 43-101 Technical Feasibility Report, Copperstone Project, February 2, 2010. Limited mining of this resource occurred in the period between Q4 2012 and Q3 2013 and will be tabulated when a new resource is estimated in early 2018.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 3,600 hectare (12,000 acre) land package that includes a production history of over 500,000 ounces of gold. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
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.
SOURCE Kerr Mines Inc.
10/17/17 6:45 PM
Kerr Mines Inc. is being featured on CBC's-Documentary-Channel Nov 27— Dec. 10, 2017 Monday through Friday, throughout the day and evenings.
11/27/17 6:37 PM
“...Copperstone, and may be closer to the 10,000,000 oz size of the Mesquite mine, which is another detachment fault deposit in California....”
01/17/18 8:59 PM
Cashed-up junior Kerr Mines (CN:KER) says it has expanded the mineralised extent of the Footwall Zone at its Copperstone gold-copper project in Arizona ahead of an imminent production decision for the previously-mined project.
02/16/18 8:08 PM
02/26/18 6:56 PM
02/27/18 1:32 AM
02/28/18 5:49 PM
Low Risk
• Past producer (over 500k Oz)
• Existing high grade gold resource (300k Oz)
• Safe, mining-friendly jurisdiction – Arizona, USA
• Production and environmental permits in place
• Significant capital infrastructure in place and ready to be utilized
Near term Upside
• Pre Feasibility Study on track in Q1 2018, production decision thereafter
• Accelerated timeframe and low CAPEX
• Expansion of Copperstone and Footwall Zones
• Potential to monetize copper by-product
• 11,800 acres land package, significant exploration potential to grow resources exponentially Expertise and Experience
• Experienced management team – delivering on strategy
Supportive Shareholder Base
• Insiders hold 30% of the company
• C$14 million raised in 2017
