RE: reservesArmistice Resources to Acquire Former Kerr-Addison Mine Property
The Kerr mine, once Canada’s largest gold producer, produced more than 11 million ounces from 1938 to 1996
Gold-bearing zones within its extensive mineralized system were mined from surface to a depth of 4,500 feet, and over a strike length of about 3,200 feet.
The historical mineral resources in the Kerr Report were summarized as:
Proven + Probable Reserves 771,000 tons @ 0.110 oz Au / ton 84,500 oz Au
Possible Reserves 1,299,000 tons @ 0.124 oz Au / ton 161,800 oz Au
Additional Mineral Inventory 3,051,000 tons @ 0.150 oz Au / ton 457,600 oz Au
The authors of the Kerr Report state that the “parameters and formulas used for ore reserve calculations have been historically established and are: calculated on longitudinal sections using a tonnage factor of 12 cubic feet per ton; applying a minimum dilution of 15 percent at nil grade; applying a cut-off grade of 0.06 ounces gold per ton; and cutting high values to 0.72 ounces gold per ton in the carbonate ore and 3.00 ounces gold per ton in the flow ore.”
Cheers, Mark (McGarry Production soon, Kerr Assays soon)