TORONTO, Aug. 21, 2017 /PRNewswire/ - 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 underground drill access mine development for the 2017
Copperstone Mine exploration/development program and
pre-feasibility study. Approximately 1,200 feet of new
exploration drift is planned to be completed in the first
phase. This drift will provide first-time underground drill
access to facilitate further definition of the parallel Footwall
Zone and to enhance the existing resource in the Copperstone
Zone.
The new underground drift will be accessed from existing
workings and will extend mine access drifting by approximately
1,200 feet to the Southeast, along the strike of the Copperstone
Zone. This access is placed between the Copperstone Zone and
the parallel Footwall Zone, giving exploration and development
drilling access to both zones. The drift is
strategically placed in the footwall of the Copperstone Zone, to
provide access for potential future mining.
The objective of the exploration drilling is to continue to
build from prior successful drilling results in the Footwall Zone
which has indicated similar attitude, rock type, alteration, width
and grade as is seen the Copperstone Zone. It is also designed to
increase the resource confidence level of the Copperstone Zone
along strike and increase its down dip extension.
"DMC Mining Services , our mine development contractor, has done
an excellent job of preparing for this work. All of their
equipment has arrived at the Copperstone Mine site and they will be
commencing mining by the end of the week. The access to drilling
that the drift will provide is an investment in the current 2017
Copperstone exploration and resource enhancement program, and is an
investment in the future development of this former producing mine.
The 2017 Copperstone exploration and development program is the
cornerstone of 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.
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.