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Kerr Mines drills 6.1 m of 15.02 g/t Au at Copperstone

2019-06-05 06:38 ET - News Release

Mr. Giulio Bonifacio reports


Kerr Mines Inc. has released further drilling results from its resource expansion program at the Copperstone mine located in Arizona. Additional drilling results from this current phase of drilling at Copperstone are pending and will be released as they become available.

2019 resource expansion highlights:

  • Drill hole 18-21A-05, an exploration stepout hole, returned an interval of 6.1 metres at 15.02 grams per tonne gold, including three metres of 22.4 g/t gold further indicating the zone is significantly of higher grade and thickness than initially anticipated with a total effective mining width of 13.1 metres.
  • Drill hole 18-04-01, a conversion hole, returned an interval of 6.1 metres at 15.91 g/t gold, including 4.6 metres of 21.02 g/t gold with a total effective mining width of 3.2 metres.
  • Continued to establish continuity between previously drilled mineralized intercepts in the existing inferred category while extending mineralization along strike and dip.

Drilling is being accomplished entirely from existing underground access and will affect an area of 500 metres of strike length and 200 metres of elevation, representing approximately 30 per cent of the current resource strike length. The program was designed to increase confidence in the mineral resources and reserves, particularly the portion scheduled for the first three years of production in the recently completed prefeasibility study.

The objective of the underground resource expansion program of up to 10,000 metres of drilling, of which the company has currently completed 5,000 metres which are currently focused on the D and C zones to increase mine life by adding additional inferred resources and converting new and existing inferred resources into measured and indicated resources. Updating the mine plan with the new resources will be the final step toward extending mine life once all drilling results have been received.

Giulio T. Bonifacio, chief executive officer, stated: "We continue to be very encouraged with the positive drill results to date. Building off the success of the previously announced results from holes 18-21-04 (16.8 metres of 40.0 g/t gold) and 18-21-06 (10.7 metres of 17.5 g/t gold) our current reported drilling results as shown in 'Drill Stations Close View Looking West' further confirm that results are upgrading and expanding our currently defined resources beyond the various mineralized domains with both high grades and further continuity."

Hole ID              From      To   Interval length         Gold*  True thickness**     Effective mining width***
                  (metre) (metre)           (metre) (grams/tonne)           (metre)                       (metre)

18-04-01             19.8    25.9               6.1         15.91               1.3                           3.2
includes             19.8    24.4               4.6         21.02               1.0                           2.4
18-20-02             18.3    21.3               3.0          8.51               0.6                           1.8
includes             19.8    21.3               1.5          11.6               0.3                           0.9
18-21-11             38.1    44.2               6.1          4.26               0.7                           1.6
includes             41.1    44.2               3.0          6.15               0.3                           0.8
18-20-11             24.4    27.4               3.0         12.82               0.7                           2.1
includes             24.4    25.9               1.5          17.1               0.4                           1.0
18-21A-05            13.7    19.8               6.1         15.02               5.5                          13.1
includes             13.7    16.8               3.0          22.4               2.8                           6.6
18-36-03             33.5    41.1               7.6           5.5               6.5                          15.3
includes             33.5    36.6               3.0         10.65               2.6                           6.1

* Grades herein are reported as uncapped values.
** Estimated distance between the footwall and hangingwall of the mineralized 
zone measured perpendicularly to the edges.
*** Effective mining width is defined as the estimated distance between the 
footwall and hangingwall of the mineralized zone measured horizontally and 
matches the planned mining method. The mining method used to calculate reserves 
will extract ore by drift mining along strike in a defined ore stope. The 
effective mining width is the width that miners will be working within. 

18-04-01: azimuth 230, inclination minus 6, total length 39.6 metres

This drill hole intercepted inferred mineralization at a better-than-expected gold grade and provided continuity between other intercepts of this domain 13.7 metres downdip and 21.3 metres updip. This intercept is near designed stopes and are expected to allow for the expansion of resources in this area.

18-20-02: azimuth 218, inclination minus 32, total length 53.4 metres

This drill hole intercepted grades above deposit average within existing inferred mineralization. This intercept demonstrated continuity of mineralization 10.7 metres along strike and 13.7 metres updip within this domain and could allow for conversion from inferred to a higher classification of resources.

18-21-11: azimuth 297, inclination minus 13, total length 80.8 metres

This drill hole should serve to convert existing inferred mineralization into a higher classification and demonstrated continuity of the targeted domain 29.3 metres updip and 15 metres on strike from other successful conversion drill holes completed in this program.

18-20-11: azimuth 208, inclination minus 32, total length 88.4 metres

This drill hole provided an infill intercept in measured mineralization in an existing mineralized domain. This intercept is approximately 7.6 metres away from the conversion intercept provided by drill hole 18-20-02 and is higher grade than was expected for this domain.

18-21A-05: azimuth 332, inclination minus 89, total length 51.8 metres

This stepout hole provided an infill intercept in currently defined mineralization in one domain on the way to testing a deeper exploration target. This intercept is of higher grade than anticipated by the current model (6.1 m at 15.02 g/t gold) and could lead to an increase of contained ounces in future resource modeling. The deeper exploration target was sucessfully intercepted (1.5 m at 3.33 g/t gold) and is significant because of the resulting potential to extend this deeper inferred mineralized zone to the north. Further stepout drilling along strike is warranted.

18-36-03: azimuth 186, inclination plus 48, total length 42.7 metres

This intercept is in existing inferred mineralization with gold grades significantly higher than was found in the closest existing drill holes. Further stepout drilling into the area southwest of this intercept is warranted.

The Copperstone zone is the underground extension of the same orebody that was historically mined as an open pit. The pit mined nearly 150 vertical metres of the Copperstone zone and produced in excess of 500,000 gold ounces historically. The Copperstone orebody currently has a horizontal strike length of over 1,500 metres and extends 110 metres beneath the historical open pit. Within this area there are measured and indicated resources of 276,100 gold ounces and inferred resources of 145,700 gold ounces.

Future drilling programs, with the objective of further mine life extension, will target areas beyond the current 2019 phase 2 affected area of 500 metres of strike length. The ultimate goal would be the addition of resources along all sections encompassing the entire current resource strike length of over 1,500 metres.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Michael R. Smith, SME-registered member (geology), who is a qualified person as defined by NI 43-101 for this project.

About Kerr Mines Inc.

Kerr Mines is an emerging American gold producer currently advancing the 100-per-cent-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 multimillion-ounce targets within a 50-square-kilometre (12,260 acres) land package.

Quality assurance and quality control statement

Procedures have been implemented to assure quality assurance/quality control (QA/QC) of drill hole assaying being done at ALS Global, which is ISO accredited. All intervals of drill holes are being assayed and samples are securely stored for shipment to ALS, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 30th 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 QA/QC results are immediately evaluated and graphed to analyze dependability of the drill hole assays. As the Copperstone project advances, additional QA/QC measures will be implemented including selected duplicate check assaying on pulps and coarse rejects at a second accredited assay laboratory. All results will be analyzed for consistency.

We seek Safe Harbor.

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