TORONTO – Kerr Mines Inc. (TSX: KER, OTCQB: KERMF), announced that it has completed a corporate name change to Arizona Gold Corp. which more appropriately reflects the Company’s focus with the restart of production at its 100 per cent owned Copperstone gold project located in Arizona.
Giulio T. Bonifacio, Chief Executive Officer stated: “The company believes the new name provides a fresh perspective as we now enter the next and most exciting value add phase at Copperstone. We recently concluded a project funding transaction that will allow Arizona Gold to move forward with detailed engineering and the restart of production. In addition, we are in the midst of our resource expansion drilling program with more than 6,000 meters (29 drill holes) completed with assay results pending. At the conclusion of the current drill program of up to 10,000 meters we will provide an updated mineral resource estimate in Q2-2021 that will include approximately 15,000 meters from both our 2019 and current drill programs. We fully expect that 2021 will prove an exciting year for all stakeholders with what will prove to be a most rewarding chapter for Copperstone and Arizona Gold Corp.”
The Company’s shares are expected to commence trading on the Toronto Stock Exchange under the new name, ticker symbol and new CUSIP and ISIN number, on or about December 29, 2020. A new website for the Company will be launched on December 29, 2020, with visitors to www.kerrmines.com after such date being automatically re-directed to www.arizona-gold.com. The company expects to begin trading under its new name on the OTCQB at or about the same time and under a new ticker symbol by early January 2021, until which time the company will continue to trade under the current OTCQB symbol (KERMF).
Kerr Mines is an emerging American gold producer advancing the restart of production at its 100-per-cent-owned, fully permitted, past-producing Copperstone mine project, located in mining-friendly Arizona. The Copperstone mine project demonstrates significant upside exploration potential that has yet to be drilled within a 50 square-kilometre (12,258 acres) land package that includes past production of over 500,000 ounces of gold by way of an open-pit operation.
The company says the current focus is on maximizing Copperstone’s potential by defining and expanding current resources and further optimizing the mine’s economics for purposes of the restart of gold production in 2021 as a result of the recent project funding transaction entered into with Star Royalties Ltd.
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