TORONTO, Oct. 19, 2016 /CNW/ - Kerr Mines Inc. ("Kerr" or
the "Company") (TSX:KER) is pleased to announce it has begun
dewatering and rehabilitation activities at its flagship
Copperstone Mine located in Arizona. The rehabilitation
activities are consistent with Kerr's strategy to re-start
production at Copperstone.
"We are firmly focused on restarting operations at Copperstone,"
said Chris Hopkins, Interim CEO of
Kerr Mines. "Completing the
de-watering activities will represent a major catalyst in our
efforts to unlock Copperstone's potential value. The Company
has also begun developing an exploration and underground
development program."
The Copperstone Mine produced nearly 500,000 ounces of gold
through open pit mining. Existing infrastructure which remains from
this time, or which has been subsequently installed by the
Company's predecessor and wholly owned subsidiary, American Bonanza
Gold Corp., is considerable and serves to reduce the current
capital requirements for the mine. Existing infrastructure includes
a power line and substation, and three water wells, all sufficient
for the proposed operations at Copperstone. Additional
infrastructure on site includes offices, maintenance shops and a
laboratory building (permitted tailings facility, processing
facility and mill).
About Kerr
Kerr is a North American gold exploration
and development company based in Toronto,
Canada. Kerr's core focus is to commence operations at the
Copperstone Mine in Arizona. The
mine is permitted with mining infrastructure and processing
infrastructure in place.
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.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
SOURCE Kerr Mines Inc.