Copperstone Mine Expansion Program Drilling Results

 

TORONTO - Kerr Mines Inc. reported further drilling results from its resource expansion program at the Copperstone Mine located in Arizona. Drilling is being accomplished entirely from existing underground access and will affect an area of 500 meters of strike length and 200 meters 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 Pre-Feasibility Study.

The objective of the underground resource expansion program of up to 10,000 meters of drilling, of which we have currently completed 5,000 meters which is 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 towards extending mine life once all drilling results have been received. 

Giulio T. Bonifacio, Chief Executive Officer said, “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 meters of 40.0 g/t gold) and 18-21-06(10.7 meters 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.”

Future drilling programs, with the objective of further mine life extension, will target areas beyond the current 2019 Phase II affected area of 500 meters 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 meters.