Kerr Mines Closes First Tranche of Non-Brokered Private Placement
TORONTO, ONTARIO -- (Marketwired) -- 03/04/15 -- Kerr Mines Inc. (TSX: KER) (the "Company") announces that it has completed the first tranche of a private placement (the "Offering") of units (the "Units") for gross proceeds of up to $3.86 million. The Company has issued an aggregate of 12,500,000 Units at a price of $0.20 per Unit for total proceeds of $2.5 million. Each Unit is comprised of one common share (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"). Each Warrant is exercisable at a price of $0.30 per Common Share for a period of two years from the date of issuance. The Company paid finders' fees equal to 5% of the gross proceeds of the Offering. The Company intends to close the second tranche of the Offering as soon as possible. Proceeds of the Offering will be used for general working capital purposes and to satisfy payables.
The securities issued pursuant to the first tranche of the Offering are subject to a four month hold period, expiring on July 5, 2015. Completion of the Offering is subject to final acceptance of the Toronto Stock Exchange (the "TSX").
Toronto, Ontario ? April 21, 2015 - Kerr Mines Inc. (?Kerr? or the ?Company?) (TSX: KER) is pleased to report that drilling in and around the Copperstone gold deposit located in Western Arizona is set to commence. Initial drilling will primarily target the Lower Plate Zone located parallel to the main Copperstone zones that were previously mined by open pit and underground methods.
A number of widely spaced, high grade gold intersections were obtained within the Lower Plate by previous operators such as 0.29 oz/ton over 35 feet, including 0.65 oz/ton over 15 feet in drill hole #DCU-08. The Lower Plate Zone is located approximately 300 to 500 feet to the footwall of the Copperstone main zones and runs parallel to the open pit and current underground development. The goal of this phase of drilling will be to follow up on previous intersections and to extend the zone along strike and dip towards current underground access allowing for potential future development in conjunction with the main Copperstone zones.
?This drill program is significant as any success on the Lower Plate creates additional flexibility in the future development of Copperstone. Thoughtful planning and definition of the A through D Copperstone zones with the addition of the Lower Plate will be our near-term focus. The near-surface location and high grades of the Copperstone and Lower Plate zones bode well for future development?, commented Greg Gibson, CEO.
The Company has not yet completed the work necessary to verify the past exploration results and since some of these results are historical in nature and some results predate National Instrument 43-101 (?NI 43-101?) standards, these results should not be relied upon. In addition, a qualified person has not completed sufficient work to verify these historical results and the Company is not treating these results as current. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Dale Ginn, P.Geo., a ?Qualified Person? as defined by NI 43-101 for this project.
: AZ da sind die wolh mit dabei in 4 trader gefunden
Kerr Mines : AZ Mining Expands Hermosa NW With High Grade Zn, Pb, Ag Drill Results
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09/29/2015 | 06:53pm US/Eastern
VANCOUVER, Sept. 29, 2015 /PRNewswire/ - AZ Mining Inc. (TSX: AZ) ("AZ Mining" or the "Company") is pleased to announce the results of two additional drill holes on its Hermosa NW discovery. HDS-335 and HDS-336 were completed to explore the northwest extension of the currently recognized mineralization. HDS-335 is an angle hole (-85 degrees 230 degrees azimuth) drilled from the HDS-334 site location. HDS-336 is a vertical drill hole that stepped out to the north/northwest from HDS-333 approximately 260 feet (see attached map).
HDS-335 was successful in testing the full section of mineralized stratigraphy currently recognized at Hermosa NW. HDS-336 was successful in testing the upper mineralized stratigraphic horizons but encountered a pyritic intrusive dike in the lower portions of the hole which removed the lower carbonate horizons.
The more significant mineralized intercepts from the recent drilling are as follows (all intervals reported are down-the-hole drill intervals and not represented as true thickness of the mineralized zones): Hole From (feet) To (feet) Interval (feet) Ag opt Pb% Zn% Cu% ---- ---------- -------- -------------- ------ --- --- ---
A full listing of the mineralized intervals from this drilling and the complete list of all drill intercepts is available on the Company's website www.azmininginc.com.
"These drill results confirm the continued expansion of high grade zinc, lead and silver over significant thicknesses characteristic of this exciting new discovery" commented Richard Warke, AZ Mining's Chairman and CEO. "We look forward to future drill results as we continue to test key extensions of the already sizable mineralized zone, which remains open to the north, west and southwest."
The Company's plans for Hermosa NW include continuing step out drilling to expand the resource, completing metallurgical tests of the coarse sulfide mineralization to determine precise recoveries for design and evaluation purposes and completing a resource evaluation in preparation for a Preliminary Economic Evaluation anticipated in Q2 2016.
Qualified Person The results of AZ Mining's drilling results have been reviewed, verified and compiled by Donald Taylor, MSc., PG, President and Chief Operating Officer for AZ Mining, a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a Registered Professional Geologist through the SME (registered member #4029597). Mr. Taylor is also a Licensed Professional Geologist in several US states.
Assays and Quality Assurance/Quality Control To ensure reliable sample results, the Company has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes.
Sample preparation (crushing and pulverizing) is performed at ALS Minerals Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona. ALS Minerals Laboratories prepares a pulp of all samples and sends the pulps to their analytical laboratory in Vancouver, B.C. Canada for analysis. ALS analyzes the pulp sample by ICP following a 4-acid digestion (ME-ICP61 for 33 elements) including Cu (copper), Pb (lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are rerun using four acid digestion with an ICP - AES finish (Cu-OG62; Pb-OG62; and Zn-OG62) with the elements reported in percentage (%). Silver values are determined by ICP ((ME-ICP61) with all samples with silver values greater than 100 ppm repeated using four acid digestion with an ICP-AES finish (Ag-OG62) calibrated for higher levels of silver contained. Any values over 1,500 ppm Ag triggers a fire assay with gravimetric finish analysis. Gold values are determined by a 30 gm fire assay with an ICP-AES finish (Au-ICP21).
About AZ Mining AZ Mining is a Canadian mineral exploration company focused on the development of its 80% owned Hermosa property located in Santa Cruz County, Arizona. The Hermosa property currently has two distinct projects: Hermosa North West, a zinc-lead-silver carbonate replacement zone sulfide mineral exploration project; and Hermosa Central, a silver-manganese manto oxide development project. North West has a resource calculated in accordance with NI 43-101 and is being drilled to test the limits of that resource. The Company released the results of the first five holes of the current drill program on North West in May, 2015 that showed high grade zinc, lead and silver intercepts over significant thicknesses. Central's December 2013 prefeasibility study indicates it is expected to be one of the largest primary silver producers as well as the only electrolytic manganese metal producer in the USA at industry low cash costs. The pre-feasibility study estimates annual production of 5.7 million ounces of silver and 110 million pounds of electrolytic manganese metal (EMM) at average cash costs of $4.41 per silver ounce and $0.74 per EMM pound over an 18 year mine life.
Cautionary Note Regarding Forward-Looking Information Certain information contained in this press release constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements including statements with respect to the Company's intentions for its Hermosa property in Arizona, USA including, without limitation, drilling on Hermosa North West and expected future mineral production and operating costs on Hermosa Central. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by AZ Mining, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in AZ Mining's management's discussion and analysis for the year ended December 31, 2014 ("MD&A"). AZ Mining cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of zinc, lead, silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risks and Uncertainties" in the MD&A.
Although AZ Mining has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and AZ Mining disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.
Click here to view the AZ Mining Inc. Hermosa NW Project Drill Map.
Kerr Mines Inc.'s drilling has intersected the Lower Plate zone, which runs parallel to the main Copperstone mine located in western Arizona. Three of the holes completed in this phase cut gold-bearing mineralization as projected, highlighted by hole KER-15-02, which encountered 0.41 ounce per ton (13.9 grams per tonne) gold over six feet (1.83 metres). The drill holes were collared from two set-up locations within the Copperstone open pit. Drill results are summarized in the attached table.
Core Drill hole Length From To length (ii) Au Au (feet) (feet) (feet) (feet) (oz/ton) (g/t)
(i) KER-15-04 was drilled from a different set-up and was terminated prior to reaching the target zone. (ii) True widths are estimated at 60 per cent to 80 per cent of reported intersections. The drilling campaign, which consisted of four diamond drill holes with a total core length of 3,040 feet, has confirmed and extended mineralization in the parallel Lower Plate zone, as well as adding an additional potential zone at the latite-phyllite contact. Both zones are open along dip and require additional exploration. The goals of this phase of drilling were to follow up on previous intersections and to extend the zone along strike and dip toward current underground access, allowing for potential future development in conjunction with the main Copperstone zones.
The Lower Plate zone is located approximately 300 feet to 500 feet to the footwall of the Copperstone main zones and runs parallel to the open pit and current underground development. All drill holes intersected a quartz latite porphyry hangingwall interval, followed by a strongly hematite-stained mineralized zone with copper oxide (chrysocolla) and some fault gouge present, and terminating in a foliated phyllite or tuff in the footwall.
Sections and plans related to this press release will be available on the company's website. The technical aspects of this press release have been reviewed and approved by Dale Ginn, PGeo, and Nathan Tribble, PGeo, qualified persons as defined by National Instrument 43-101, for this project.
Quality assurance/quality control procedures
Kerr has implemented a quality control program to ensure best practice in the sampling and analysis of the drill core. Assays have been completed using a standard 30-gram fire assay at American Assay Laboratories. For samples that return a value greater than 10 grams per tonne gold, the sample is fire assayed with a gravimetric finish. HQ-size and NQ-size drill core is saw cut, and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. Standards are inserted at every 12 samples to ensure quality control throughout the program. The drill core is shipped in security-sealed bags for preparation and analysis at American Assay Laboratories at its facilities in Sparks, Nev. American Assay Laboratories is accredited and registered ISO/IEC 17025:2005.
Kerr Mines Inc. bestehenden gesicherten Schuldschein zahlbar an NEMI Northern Energy & Mining Inc. in Höhe von insgesamt $ 2.138.329, einschließlich Zinsen und Gebühren, wurde von einem bestehenden Aktionär von Kerr Mines für einen Gesamterlös von 1.875.000 $ gekauft.
"Dies ist ein wichtiger erster Schritt in Kerr hat sich zum Ziel, in Verbindung mit den bestehenden Investoren, auf die Sanierung seiner Coppergoldmine in Arizona zu konzentrieren", erklärte Greg Gibson, Präsident und Chief Executive Officer von Kerr Mines. "Advancing Copper plant in Richtung Produktion als Goldmärkte Anzeichen einer Erholung zeigen ein wichtiges Ziel des Unternehmens bleibt."