TORONTO, Aug. 15, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTC: KERMF, FRA: 7AZ1) is pleased to announce that it has initiated the first phase of the surface exploration drilling campaign for the 2017 Copperstone Mine exploration program and pre-feasibility study. Approximately 15,000 feet of drilling is allocated to the first phase with the goals of further defining the parallel Footwall Zone and increasing the existing resource in the Copperstone Zone.
The parallel Footwall Zone is located approximately 500 feet to the Southwest on the footwall side of the Copperstone Zone which was previously mined by open pit and underground methods. Previous successful drilling has indicated that further drilling is warranted to advance the definition the Footwall Zone.
The objective is to continue to build from prior successful drilling results in the Footwall Zone which has indicated similar inclination attitude, rock type, alteration, width and grade as is seen the Copperstone Zone. It is also designed to strengthen the Copperstone Zone along strike and increase its down dip extension.
"We are very pleased to have completed the planning of the program and are excited to begin executing it. The 2017 Copperstone exploration 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.
Sections, plans and diagrams related to this press release are available at the company's website, www.kerrmines.com.
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.
For further information: Claudio Ciavarella, Chief Executive Officer, [email protected], 647-229-0503