TORONTO, Dec. 5, 2017 /CNW/ - Kerr Mines Inc.
(TSX: KER, OTC: KERMF, FRA: 7AZ1) ("Kerr" or the "Company") is
pleased to announce further results of its Phase I drilling
program. KER-17U-12 interval of 32.0 feet @ 16.0 g/t Au has been
extended by 28.5 feet @ 39.1 g/t Au for a final total interval
length of 60.5 feet @ 27.0 g/t Au (see press release dated
November 2, 2017). Phase I of the
program continues to confirm significant gold mineralization and
increases the confidence in expanding the resource at the Company's
Copperstone project in Arizona.
Highlights
- New intervals drilled from underground through the Coppertone
Zone include:
-
- 28.5 feet @ 39.1 g/t Au (KER-17U-12)
- 10.5 feet @ 8.8 g/t Au (KER-17U-13)
- 28.8 feet @ 38.6 g/t Au (KER-17U-14)
- 14.5 feet @10.9 g/t Au (KER-17U-16)
- 12 feet @ 6.7 g/t Au (KER-17S-01)
- Results continue to extend down-dip and up-dip gold grade and
extend mineralized areas along strike in the Copperstone Zone
- Drill hole spacing designed to upgrade resources from inferred
to measured and indicated
Martin Kostuik, President,
stated, "these continuing achievements support the confidence we
have in developing this resource to its fullest potential.
Attributes of high grade and continuity are regularly displayed in
the drilling results"
The Copperstone Zone detachment fault system historically
produced over 500,000 ounces of gold from an open
pit. Continuing below the open pit, the down-dip extension of
the Copperstone Zone has an undiluted mineral resource of 313,000
oz Au at 10.35 g/t Au (0.302 ounce per ton)-(311,000 measured +
2000indicated), estimated in 2010* which is being further enhanced
by the Phase 1 drilling program. The Phase I 15,000 feet
underground program is currently using three drills to test along
strike and up/down-dip in the D and C portions of the Copperstone
Zone. The program is confirming mineralized detachment fault
breccia continuity from existing underground workings at depths
from 100 to 400 feet below the open pit bottom.
KER-17U-12 was drilled in the northwestern portion of the
Copperstone Zone, starting from below and drilling towards the
northeast into the Copperstone Zone. This hole was designed to
confirm previous results and had total updated results of 71 feet @
23.1 g/t Au. Important silicic and hematitic alterations
including magnetite replacement were encountered. These strong
results will potentially increase the size and grade of the
historic mineralized zone.
KER-17U-13 was drilled from below and towards the
Copperstone Zone. KER-17U-13 is a confirmation hole
ending 140 feet to the south of KER-17U-12. The results of this
hole confirm historical results and also improve continuity in a
sparsely explored area with the best intercept of 10.5 feet @ 8.8
g/t Au and 0.41% copper (Cu). The beginning of the mineralized
portion of this hole is only 45 feet from existing workings.
KER-17U-14 was drilled from below towards the
northeast and tests the down dip extension of the Copperstone
Zone. KER-17U14 is designed to upgrade resources
and demonstrate continuity. It also increases the dimensions
of the mineralized lens in this area with high grade intercepts in
two locations. This hole is 70 feet from each of KER-17U-12
and KER-17U-13 and displays an over-all interval of 88 feet @ 13.9
g/t Au. Limestone, skarn, sandstone and siltstone were
encountered-with limestone becoming important to the understanding
of mineral deposition. This interval has intercepts as high as
28.8 feet @ 38.6 g/t Au.
KER-17U-16 was drilled from below the Copperstone Zone
but upward towards the northwest to test and confirm the up dip
potential of the Copperstone
Zone. KER-17U-16 tests the up dip potential of the
Copperstone Zone by confirming historic results and extending the
mineralized lens along dip. The overall interval of 105 feet @
4 g/t Au included several high grade intercepts ranging from 7.7
g/t Au to 10.9 g/t Au and as high as 0.99% Cu to help define this
zone. Important units of limestone and alteration including
silica and hematite were encountered. The overall average
grade of Cu for this 105 foot interval is 0.29%.
KER-17S-01 was drilled from the surface and
vertically down into the Copperstone A Zone. KER-17S-01 tests the
down dip potential of the Copperstone A Zone. An overall
interval of 17 feet @ 4.8 g/t Au included a high grade interval of
7.6 feet @ 10.5 g/t Au. Important silicic and hematitic
alteration was encountered in the Copperstone breccia. The
results in KER-17S-01 are approximately 200 feet down dip and east
of historic drill results and extend the known Copperstone A Zone
mineralization by approximately 85 feet down dip while also serving
to extend mineralization along strike.
Table 1. Selected Drill Results
|
|
|
|
|
|
|
Hole
ID
|
Zone
|
From
|
To
|
Interval*
|
Interval*
|
Gold
|
|
|
ft
|
ft
|
ft
|
m
|
g/tonne
|
KER-17U-12
|
D
|
153.0
|
224.0
|
71.0
|
21.6
|
23.1
|
includes
|
|
153.0
|
213.5
|
60.5
|
18.4
|
27.0
|
also
|
|
163.0
|
210.8
|
47.8
|
14.6
|
33.8
|
also
|
|
178.0
|
191.0
|
13.0
|
4.0
|
89.9
|
also
|
|
185.0
|
213.5
|
28.5
|
8.7
|
39.1
|
KER-17U-13
|
D
|
46.5
|
57.0
|
10.5
|
3.2
|
8.8
|
KER-17U-14
|
|
155.0
|
243.0
|
88.0
|
26.8
|
13.9
|
includes
|
|
178.0
|
206.8
|
28.8
|
8.8
|
38.6
|
also
|
|
217.0
|
226.0
|
9.0
|
2.7
|
5.6
|
KER-17U-16
|
D
|
48.0
|
153.0
|
105.0
|
32.0
|
4.0
|
includes
|
|
48.0
|
58.0
|
10.0
|
3.2
|
7.7
|
also
|
|
104.9
|
113.0
|
8.1
|
2.5
|
10.6
|
also
|
|
138.5
|
153.0
|
14.5
|
4.4
|
10.9
|
KER-17S-01
|
A
|
381.0
|
393.0
|
12.0
|
3.7
|
6.7
|
* not true
width
|
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., who is
a "Qualified Person" as defined by NI 43-101 for this
project.
The Company is pleased to announce that Carmelo Marrelli (CPA) has been appointed Chief
Financial Officer and Andrew Newbury Corporate Secretary. The
Company has accepted the resignation of Christopher Hopkins from these roles.
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 a detachment fault mineral
belt in mining-friendly Arizona.
The project demonstrates significant upside exploration potential
within a 4,775 hectare (11,800 acres) 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.
Quality Assurance and Quality Control
Statement
Procedures have been implemented to assure Quality
Assurance Quality Control (QAQC) of drill hole assaying being done
at American Assay Laboratories (American), which is ISO
Accredited. All portions of drill holes are being assayed and
samples are securely stored for shipment to American, with chain of
custody documentation through delivery. Mineralized commercial
reference standards and coarse blank standards are inserted every
20th sample in sequence and results are graphed to
assure acceptable results, resulting in high confidence of the
drill hole assay results. When laboratory assays are
received, the QAQC results are immediately evaluated and graphed to
analyze dependability of the drill hole assays. As the
Copperstone Project advances, additional QAQC measures will be
implemented including 1) selected duplicate assaying being done at
a second accredited assay laboratory, 2) duplicate assaying of
selected intervals of core (quarter splits) and reverse circulation
drilling samples, and 3) metallic screen assays of selected
remaining laboratory rejects. All results will be analyzed for
consistency.
*Mineral Resource Tabulation – Model capped at 5.0 oz Au/t with
a 0.15 oz Au/t cutoff grade, 1,038,000 tons (1,029,000
measured + 9,000 indicated) - NI 43-101 Technical Feasibility
Report, Copperstone Project, February
11, 2010. Limited mining of this resource occurred in
the period between Q4 2012 and Q3 2013 and updated tons will be
tabulated when a new resource is estimated in early 2018.
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.