Approximately 4,600 meters (15,000 feet) of drilling is allocated to the first phase with the goals of increasing the confidence levels and ounces of the existing resource in the Copperstone Zone, and further defining the parallel Footwall Zone.
The Copperstone Zone produced over 500,000 ounces of gold between 1987 and 1993 when the pit reached economic limits at the time and when gold prices averaged under $400/troy ounce. The down-dip extension of the Copperstone Zone, located primarily east of and below the bottom of the open pit, has a mineral resource of 313,000 ounces at 0.302 ounce per ton (measured + indicated), estimated in 2010. The first phase of the underground drilling program will test targets along approximately 520 meters (1,700 feet) of this resource which has a total strike length of 1,250 meters (4,100 feet).
First phase targets in the Copperstone Zone total 4,600 meters (15,000 feet) of drilling and are designed to enhance the existing resource and add more ounces. The exploration drilling strategy includes testing the down dip extensions of the resource and untested areas within the resource, along strike. Many untested areas will be made accessible by the new 365 meter (1,200 feet) exploration drift. The new underground drift will be accessed from existing underground workings and will extend the overall extents of mine access by approximately 365 meters (1,200 feet) to the South East, along the strike of the Copperstone Zone. This access is placed in between the Copperstone Zone and the parallel Footwall Zone, giving simultaneous exploration drilling access to both zones. The drift is also strategically placed to provide access to the Copperstone Zone for potential future mining purposes.
"The underground portion of the 2017 Copperstone exploration program allows for fast access to drilling targets in the Copperstone Zone. We are very excited to commence the first phase of this program. This underground program, combined with the previously announced surface program, is the cornerstone for the forthcoming pre-feasibility study and is a key component to the strategy of advancing the Copperstone Mine project towards a production decision, " saidMartin Kostuik, President Kerr Mines.
