Market Overview

Kerr Announces Additional High-Grade Gold Channel Sampling Results

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TORONTO, Nov. 27, 2019 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER, OTC:KERMF), ("Kerr" or the "Company"), is pleased to announce high-grade results from channel sampling along existing underground workings at its 100% owned Copperstone Mine gold project located in Arizona, USA.

Underground Channel Sampling

Following up on the recently completed first phase of successful drilling and for purposes of planning the next phase of drilling while also enhancing the current gold resource model, Kerr successfully concluded this phase of channel sampling in underground areas proximal to the currently defined resource.  Using the extensive underground access totalling over 4,300 meters of development drifts, Kerr has targeted several areas where the current resource is exposed in the workings.

In locations proximal to the existing gold resource and representing several locations where two different mineral domains are exposed, saw-channel samples returned high grade gold values. Units are grams gold per tonne ("g/t Au") and meters ("m").  

Highlights of average gold grade over total channel sample length are below:

  • 13.3 g/t Au over 2.5 m (650, 1-4)
  • 24.2 g/t Au over 2.6 m (650, 5-8)
  • 4.0 g/t Au over 2.5m (650, 9-13)
  • 7.7 g/t Au over 1.2 m (650, 14-16)
  • 10.0 g/t Au over 3.3 m (690, 22-27)
  • 3.6 g/t Au over 2.9 m (730 NE, 28-34)
  • 10.9 g/t Au over 1.8 m (730 NE, 35-38)

Martin Kostuik, President commented, "Sampling results display both higher than average grades and expected continuity.  Overall these results continue to support our confidence in the orebody and our ability to deliver strong cash flows when construction-related activities and underground mining commence next year.  We look forward to the continuation of positive news regarding project advancement in the coming months."

This phase of channel sampling targeted areas of underground development where resource domains exhibited exposure in the walls of the openings.  Most exposures in Table 1 below do not intersect the domain in a location where the full mineralized zone was fully exposed from Footwall ("FW") to Hangingwall ("HW").  However, the information provided by the channel sampling exhibits expected gold grade, rock type and alteration and provides further confidence in the resource estimate in general.  Figure 1 below is a view of the underground workings and demonstrates the portion of each North West striking domain which is immediately visible in the workings.  The figure does not depict the full extent, up or down dip, of the entire domains. 

Table 1: Underground Channel Sample Assays

              Model Estimated Grade
(g/t)**
Sample
ID
Au
(g/t)*
Interval
(m)
Area Modelled
Domain
Sample Material   min max median
1 1.0 0.62 650-9A-110 CUVND FW material     26.3  8.8 
2 10.3 0.71 650-9A-111 CUVND mineralized domain    
3 9.0 0.55 650-9A-112 CUVND mineralized domain   2.0
4 32.9 0.62 650-9A-113 CUVND mineralized domain    
average 13.3                
5 26.2 0.59 650-9A-60 CUVND mineralized domain     26.3  8.8 
6 29.5 0.77 650-9A-60 CUVND mineralized domain    
7 6.7 0.68 650-9A-60 CUVND mineralized domain   2.0
8 35.1 0.62 650-9A-60 CUVND mineralized domain    
average 24.2                
9 0.2 0.65 650-9A-10 CUVND FW material     26.3  8.8 
11 10.4 0.95 650-9A-10 CUVND mineralized domain    
12 0.0 0.43 650-9A-10 CUVND mineralized domain   2.0
13 0.2 0.49 650-9A-10 CUVND HW material    
average 4.0                
14 0.9 0.18 650-9A-10 CUVND FW material1     26.3  8.8 
15 10.9 0.80 650-9A-10 CUVND mineralized domain1    
              2.0
16 1.6 0.22 650-9A-10 CUVND mineralized domain1    
average 7.7                
22 5.1 0.69 690 Decline CUVND5 FW material     47.0 8.3 
23 9.6 0.69 690 Decline CUVND5 mineralized domain    
24 0.4 0.69 690 Decline CUVND5 mineralized domain    
25 0.0 0.54 690 Decline CUVND5 mineralized domain   1.6
26 0.0 0.69 690 Decline CUVND5 mineralized domain    
27 39.7 0.77 690 Decline CUVND5 mineralized domain2    
average 10.0                
28 25.5 0.22 730 NE CUVND mineralized domain     9.6 
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