Pre-Feasibility Study: 40% IRR, Updated Resource and Gold Production in 2019
It has been an exciting start to 2018 for Kerr Mines [TSX:KER] [OTC:KERMF], we recently released the very positive results of our pre-feasibility-study (PFS), a key milestone objective for the Company. As an emerging American gold producer, we have now commenced the process of transitioning Kerr Mines into gold production and cash flow.
"The results of this PFS display the strong near-term production opportunity for the Copperstone Gold Mine and robust returns for our investors. This is just the beginning," says Martin Kostuik, President.
We are pleased today to provide you with a glimpse of our highly advanced gold project in the attached site visit video, and encourage you to subscribe to our Kerr Mines Newsletter.
"The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study time frame, of profitable gold production. In fact, there are 100,000 gold ounces of M&I mineral resources that were not included in the P&P mineral resources, part of which are immediately accessible for drilling and potential inclusion." Kostuik continued.
"Furthermore, we shall continue our efforts to enhance shareholder value by pursuing other value-adding activities such as conducting an intense 2018 exploration program which is designed to increase mine life," concluded Kostuik.
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Copperstone Gold MIne PFS Highlights (all values US$ unless otherwise noted):
Base case $1,250/oz gold;
Kerr Mines Investor Info:
TSX:KER
OTC:KERMF
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