Kerr Mines Achieves 97% Gold Recovery from Metallurgical Test Work
February 26 2019 - 6:30AM
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.pdfYouTube:
Copperstone Gold Mine KER:TSX 3 min. Investor Tour Video
For further information
contact:Claudio Ciavarella Chief Executive
Officercciavarella@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.