TORONTO, Aug. 8, 2017 /PRNewswire/ - Kerr Mines Inc.
("Kerr" or the "Company") (TSX: KER, OTC: KERMF, FRA: 7AZ1) is
pleased to announce that it has completed the tender process and
has awarded the three key contracts to support the execution of the
2017 Copperstone Mine exploration program and pre-feasibility
study.
Hard Rock Consulting ("HRC") of Colorado, has been appointed to conduct the
Copperstone Mine pre-feasibility study, which is estimated to be
completed by Q1 2018. The pre-feasibility study will be the basis
for the decision to proceed towards production of the Copperstone
Mine.
In addition, Godbe Drilling LLC ("Godbe") of Arizona, has been awarded the drilling
contract, which includes both the surface and underground drilling
programs.
DMC Mining Services Corporation ("DMC") of Utah, has been
awarded the contract for underground development. The inclusion of
the underground development allows the 2017 Copperstone Mine
exploration program to access high-priority targets previously
unavailable.
HRC is recognized for delivering expertise and providing value
added service directly from the highly experienced principals to a
variety of mining clients ranging from due diligence to full
feasibility studies. This allows HRC to take a hands-on role in
providing a cost-effective and prudent move forward
strategy. Both Godbe and DMC have extensive experience in their
core businesses and share a proven ability to achieve safe
performance and deliver excellent results under a variety of
conditions. These appointments establish a key milestone in the
Company's development strategy by employing strong expertise in
engineering, drilling and mine development, in order to advance the
Copperstone Mine project towards a production decision.
A competitive bidding, evaluation and selection process was
carried out by senior management, which led to these awards. "We
are very pleased to have completed the process of selection of the
engineering, drilling and mine development contractors, enabling
Kerr to execute the 2017 Copperstone exploration program and
pre-feasibility study. Detailed planning of the program is
well underway and contractors are preparing to mobilize," said
Martin Kostuik, President,
Kerr Mines.
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.