Claudio Ciavarella, Kerr Mines CEO on advances of Copperstone
I’ve been a long-term investor in the precious metals industry. And in particular Kerr Mines and currently I am the second largest shareholder of the company. Kerr Mines is a gold development and exploration company. Focused above all on creating shareholder value through the advancement of our flagship Copperstone asset.
Acquired during the mining downturn of 2014, Copperstone had produced over half a million ounces of gold. The project is at an advanced stage of development. And is located in safe mine friendly Arizona. What makes Kerr Mines unique is that in addition to being fully permitted. The project has tremendous exploration upside. And is complemented with an existing high-grade gold resource of over three hundred thousand ounces.
The company recently completed a successful financing and is now well-positioned to execute on our move forward strategy. We recently commenced with the first phase of our exploration program. That will entail both underground as well as surface drilling.
In total, we will be drilling approximately 10,000 meters during this first phase. One of the key milestones that we have is to publish a pre-feasibility study in Q1 of 2018. That will form the basis of our production decision. In addition, extensive infrastructure remains in place and ready for use. That will accelerate our time frame and transition us into production and cash flow.
The Copperstone Mine
Has produced nearly one-half million ounces of gold between 1987 and 1993 through open pit mining. Existing infrastructure which remains from this time, or which has been subsequently installed by the Company’s predecessor and wholly owned subsidiary, American Bonanza Gold Corp., is considerable and serves to reduce the current capital requirements for the mine.
Existing infrastructure includes a 69 KV power line and substation, and three water wells, all sufficient for the proposed operations at Copperstone. Additional infrastructure on site includes offices, maintenance shops and a laboratory building (permitted tailings facility, processing facility and mill).
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