SAN FRANCISCO, May 22, 2019 (GLOBE NEWSWIRE) -- Located in the fault- and gold-riddled desert lands between Phoenix and Death Valley, Kerr Mines Inc.'s (KER:TSX; KERMF:OTC; 7AZ1:FRA) Copperstone Mine is gearing up to recommence production in 2020, stated newly appointed CEO Giulio T. Bonifacio.
Company mentioned: Kerr Mines Inc.
Because it is blessed with existing infrastructure—a mill, water, power, labs, repair shop, warehouses, offices, tailings pond and extensive underground development—reinvigorating Copperstone is a low capex project.
Copperstone's historically productive high-grade gold deposit was profitably mined as an open pit in 1987 by Cyprus Minerals Corp. Within six remarkable years, Copperstone delivered more than 500,000 ounces gold from 5.6 million tons of ore grading at 0.089 ounces per ton (oz/t) gold (3.05 grams/tonne).
Copperstone's next owner, American Bonanza, further developed Copperstone with drilling, underground development at the base of the open pit, while also permitting the project. This was followed by the construction of a 600-ton-per-day flotation mill. The company extracted 16,900 ounces of riches from ore grading at 0.104 oz/t gold (3.57 grams/tonne) during 2012 before terminating operations in early 2013 as the gold market turned and Copperstone went temporarily fallow.
In late 2017, Kerr Mines completed a combined surface and underground drilling exploration program, adding 800 feet of additional underground access. Bonifacio stated the company plans to start mining and processing 600 tons of ore per day at Copperstone in 2020, pending advancing detailed engineering, minor permit modifications approval and finalizing terms of a current financing package with Sprott Resource Lending Corp.
Continue reading this article: Gold in the Desert: High-Grade Project Nearing Fruition in Arizona
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