Kimber intercepts 4.5 metres of 26.6 g/t gold below the Carmen gold-silver mineral resource at the Monterde Project
Intersection provides further evidence of high grade zone below existing
mineral resources
VANCOUVER, Oct. 27, 2011 /PRNewswire/ – Kimber Resources Inc. (NYSE Amex:KBX,
TSX:KBR) is pleased to announce the results of ten further drill holes
from its Monterde Project, Mexico. Nine holes were drilled into the
Carmen Deposit, with the objective of expanding and upgrading mineral
resources potentially amenable to underground extraction (“Carmen Deep”
target), and one hole was drilled into Veta Minitas, with the objective
of expanding and upgrading existing high grade mineral resources.
“The intercept of 4.5 metres grading 26.6 g/t gold and 12.1 g/t silver
in hole MTRD-513 provides yet another excellent high grade gold-silver
intersection in the Carmen structure, at a considerably deeper level
than existing mineral resources, bolstering the potential for the
definition of a deeper, high grade mineral resource under the currently
defined Carmen deposit.” said Gordon Cummings, President and CEO of
Kimber Resources. “In addition, the Carmen, Cob and Hilos structures
were intercepted at depth at the south end of the Carmen deposit in
several holes, indicating potential for additional high grade
gold-silver mineralization along strike to the south at deeper levels
than previously drilled.”
Highlights of recent assay results from the Carmen deposit are tabulated
below, while complete results for all ten complete holes are attached:
_________________________________________________________________
| | | | | | | | Gold |
| | |From | To |Intercept*|Gold |Silver|equivalent|
|Drill Hole|Section| (m) | (m) | (m) |(g/t)|(g/t) | (g/t) |
|__________|_______|_____|_____|__________|_____|______|__________|
|MTC-126 | 26|431.2|431.7| 0.5| 6.0| 31.3| 6.5|
|__________|_______|_____|_____|__________|_____|______|__________|
|MTRD-513 | 33|152.0|158.0| 6.0| 3.5| 104.3| 5.2|
|__________|_______|_____|_____|__________|_____|______|__________|
|Including | |152.0|154.0| 2.0| 6.0| 166.0| 8.8|
|__________|_______|_____|_____|__________|_____|______|__________|
|and | |569.5|574.0| 4.5| 26.6| 12.1| 26.8|
|__________|_______|_____|_____|__________|_____|______|__________|
|MTRD-515 | 28|166.0|168.0| 2.0| 2.9| 90.6| 4.4|
|__________|_______|_____|_____|__________|_____|______|__________|
|and | |337.5|339.0| 1.5| 6.1| 127.0| 8.2|
|__________|_______|_____|_____|__________|_____|______|__________|
|and | |524.0|526.5| 2.5| 2.7| 8.8| 2.8|
|__________|_______|_____|_____|__________|_____|______|__________|
|MTRD-518 | 25|516.4|518.1| 1.7| 7.4| 3.2| 7.4|
|__________|_______|_____|_____|__________|_____|______|__________|
|MTRD-519 | 38|201.6|203.2| 1.6| 2.9| 16.5| 3.2|
|__________|_______|_____|_____|__________|_____|______|__________|
* True widths are expected to range between 65% and 85% of the intervals
reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one
gram of gold.
Drill Hole Details
Drill hole MTRD-513 was collared on section 33 and was designed to test
the area between previously released high grade holes MTRD-476 and
MTRD-477. The hole intersected strongly silicified intermediate tuff
with veinlets of pyrite, sphalerite and galena at the 1,885 metre
elevation between 569.5 metres and 574.0 metres down hole. The interval
returned 26.6 g/t gold and 12.1 g/t silver and anomalous base metals.
This hole has demonstrated the continuity of high grade mineralization
over a strike length of 125 metres between section 30 and 35 between
the 1820 metre and 1920 metre elevation levels.
Hole MTRD-515 was collared on section 28 and was designed to test the
high grade, sulphide-rich mineralization to the south of MTRD-476. The
hole intersected the Carmen structure at the 1,905 metre elevation
level. Alteration consisted of weak to locally moderate silicification
with no visible base metal-bearing minerals. The hole returned 2.5
metres grading 2.7 g/t gold and 8.8 g/t silver in the projection of the
Carmen structure. An interval from the hanging wall of the Hilos
structure returned 1.5 metres grading 6.1 g/t gold and 127.0 g/t
silver.
Drill hole MTC-124 was collared on section 29 and designed to test the
high grade zone at 1,750 metre elevation level. The intersection on
Carmen showed quartz, pyrite and epidote. No base metal sulphides were
observed and only anomalous values in gold were returned.
Drill hole MTC-126 was collared on section 26 and was designed to test
the Carmen structure at 1,875 metre elevation approximately 100 metres
south of MTRD-476. The hole intersected a 0.5 metre wide zone of
semi-massive sphalerite and galena that returned 6.0 g/t gold and 31.3
g/t silver. The hole also returned 2.9 metres of 2.6 g/t gold from the
Cob structure.
Kimber initiated a drilling program focused on the Cob structure in
September 2011 with the aim of exploring the depth and strike potential
of Cob as well as upgrading existing resources. No program of
exploration has ever been specifically targeted on this structure.
Historical drilling has returned significant results including drill
hole MTR-263 on section 40 that returned 66.5 g/t gold and 136.3 g/t
silver over a width of 6.0 metres. A total of 12 drill holes are
planned to test for extensions of the Cob structure, the first batch of
which are summarized below:
Drill hole MTC-134 was collared on section 39 to test the up-faulted
portion of the Cob structure deeper than previous drilling. The hole
returned 1.0 metres of 4.3 g/t gold and 5.7 g/t silver from a hanging
wall splay to Cob. Cob itself returned 3.2 metres of 0.6 g/t gold and
low silver values.
Drill Hole MTRD-506 was collared on section 38 and was designed to
extend known mineralization down dip. The hole returned 2.3 metres of
3.2 g/t gold and 34.4 g/t silver from a hanging wall splay and the Cob
structure returned 3.9 metres of 1.8 g/t gold and 41.2 g/t silver.
Drill hole MTRD-519 was collared on section 38 to drill test below
MTRD-506 and designed to intersect any up-faulted extension of the
Hilos structure. The hole returned 8.5 metres of 0.8 g/t gold and 66.9
g/t silver from a hanging wall splay to Cob. The Cob structure returned
8.7 metres of 0.8 g/t gold and 20.2 g/t silver.
Drill hole MTRD- 521 was collared on section 43 and was designed to test
the strike extent of Cob to the north. The only significant value was
2.7 metres of 1.6 g/t gold and 22.7 g/t silver from a structure between
Cob and Hilos.
Kimber began diamond drilling on the Veta Minitas deposit in September
of this year following reverse circulation drilling of pre-collars over
the summer. The objectives of the program at Veta Minitas are to (1)
upgrade existing mineral resources and (2) explore the strike and depth
potential of the structures. The first completed hole, LMRD-63 returned
5.5 metres of 1.0 g/t gold and 89.1 g/t silver. Diamond drilling at
Veta Minitas will progress over the remainder of this year with
potential for expansion into 2012.
Illustrations
A plan view of the location of the drill holes completed in 2011, with
the holes detailed in this release highlighted, can be viewed via the
following link:
Plan View of Carmen 2011 drill holes
In addition a vertical section showing hole MTRD-513 can also be viewed
via the following link:
Vertical Section Showing Drill Hole MTRD-513
About Kimber
Kimber owns mineral concessions covering in excess of 39,000 hectares in
the prospective Sierra Madre gold-silver belt, including the Monterde
property, where three gold-silver mineral resources have already been
defined. The most advanced of these, the Carmen deposit, has been
extensively drilled and has undergone detailed geologic modeling. The
completion of the Updated Preliminary Economic Assessment for Monterde
in 2011 represents a significant step forward for Kimber and is
expected to lead to further development and more advanced economic
studies at the Monterde deposits. The subsequent discovery of high
grade gold-silver mineralization below the mineral resources used in
the preliminary economic assessment adds a potentially significant new
dimension to the opportunities at Monterde.
Forward looking statements
Statements in this release may be viewed as forward-looking statements,
including statements regarding estimates of mineral resources at
Monterde, the preliminary assessment of the Monterde project, the
conversion of inferred mineral resources to measured and indicated
mineral resources, the conversion of mineral resources to mineral
reserves, life of mine estimates, the potential for gold and silver
mineral resources in the Carmen and Veta Minitas deposits and other
targets within the Monterde project, the implications of the results of
drill holes reported herein, the results of future exploration, the
economic potential of any such discoveries made, the further
development, expected results and future economic assessments of the
Monterde project. When used in this press release, the words “expect”,
“intend”, “hopes”, “should”, “believe”, may”, “will”, “if”,
“anticipates”, “potential for”, “potentially”, “suggests” and similar
expressions are intended to identify forward-looking statements. Such
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected. Such risks and
uncertainties include, among others, uncertainty of mineral reserve and
resource estimates, continuity of mineralization between drill holes,
risks relating to fluctuations in the price of gold, the inherently
hazardous nature of mining-related activities, potential effects on
Kimber’s operations of environmental regulations in the countries in
which it operates, risks due to legal proceedings, risks relating to
political and economic instability in certain countries in which it
operates, risks related to the use of inferred mineral resources in the
preliminary assessment, and uncertainty of being able to raise capital
on favourable terms or at all, as well as those risk factors discussed
under the headings “Cautionary Note Regarding Forward-Looking
Statements” and “Risk Factors” in Kimber’s latest Annual Report on Form
20-F as recently filed on SEDAR and EDGAR. There are no assurances the
Company can fulfil such forward-looking statements and the Company
undertakes no obligation to update such statements, except as required
by law. Such forward-looking statements are only predictions; actual
events or results may differ materially as a result of risks facing the
Company, some of which are beyond the Company’s control.
Quality Assurance/Quality Control
The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed and approved by Mr. Petrus (Marius) Mare
P.Geo., Vice-President Exploration of the Company. The exploration
activities at the Monterde project site are carried out under the
supervision of Mr. Mare, who is the designated Qualified Person under
National Instrument 43-101 for the Monterde project and is responsible
for quality control at Monterde and has verified the data being
disclosed. He has determined that the laboratory reports matched the
drill sample logs and that the quality control assays fall within
reasonable limits. QA/QC procedures incorporate blanks and duplicates
inserted at the drill and standards inserted after sample preparation.
Sample preparation was done by ALS Chemex at its Chihuahua laboratory.
Pulps are analyzed by ALS Chemex at its laboratory in North Vancouver,
British Columbia, using 50 gram sub-samples, using fire assay with an
AA finish for gold and four-acid digestion and ICP finish for silver
from a 0.4 gram subsample. High grade gold or silver intervals are
re-assayed by fire assay with gravimetric finish.
Cautionary Note to U.S. Investors – The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce. Kimber Resources uses
certain terms on its website (and certain press releases), such as
“measured,” “indicated,” and “inferred,” “resources,” which the SEC
guidelines strictly prohibit U.S. companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely the
disclosure under the heading “Cautionary Note to U.S. Investors
Regarding Mineral Reserve and Resource Estimates” in our latest annual
report on Form 20-F which may be secured from us, or from the SEC’s
website at http://www.sec.gov/edgar.shtml.
Complete table of Carmen drill results
To accompany Kimber News Release Dated October 27, 2011
___________________________________________________________________________
| | | | | | | | Gold | |
| Drill | |From | To |Intercept*|Gold |Silver|equivalent| |
| Hole |Section| (m) | (m) | (m) |(g/t)|(g/t) | (g/t) |Structure |
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|LMRD- 63 | 40 |188.0|190.0| 2.0| 1.0| 59.5| 1.9| ***VM|
| | | | | | | | |structures|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |225.0|231.0| 6.0| 0.7| 30.5| 1.2| ***VM|
| | | | | | | | |structures|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |235.0|237.0| 2.0| 0.5| 16.3| 0.8| ***VM|
| | | | | | | | |structures|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |396.9|402.4| 5.5| 1.0| 89.1| 2.5| ***VM|
| | | | | | | | |structures|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTC-124 | 29|465.1|466.4| 1.3| 1.2| 3.9| 1.2| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTC-126 | 26| 72.6| 74.3| 1.7| 1.4| 145.0| 3.8| Unknown|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |346.3|349.2| 2.9| 2.6| 4.0| 2.7| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |412.4|415.8| 3.4| 1.4| 5.2| 1.4| Carmen HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |431.2|431.7| 0.5| 6.0| 31.3| 6.5| Carmen |
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTC-134 | 39|193.0|194.2| 1.2| 5.1| 23.3| 5.5| Unknown|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |254.5|255.5| 1.0| 4.3| 5.7| 4.4| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |297.3|300.5| 3.2| 0.6| 2.9| 0.7| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTRD-506 | 38|246.5|248.8| 2.3| 3.2| 34.4| 3.7| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |273.8|275.4| 1.6| 2.3| 1.2| 2.4| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |312.4|316.3| 3.9| 1.8| 41.2| 2.4| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |320.5|321.7| 1.2| 1.2| 64.9| 2.2| Cob FW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |347.1|352.0| 4.9| 0.8| 11.0| 0.9| Cob FW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTRD-513 | 33|152.0|158.0| 6.0| 3.5| 104.3| 5.2| Unknown|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|including| |152.0|154.0| 2.0| 6.0| 166.0| 8.8| Unknown|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |319.9|320.9| 1.0| 2.6| 44.8| 3.4| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |357.3|358.7| 1.4| 3.6| 40.9| 4.2| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |362.3|364.3| 2.0| 3.4| 45.6| 4.1| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |569.5|574.0| 4.5| 26.6| 12.1| 26.8| Carmen|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |653.7|654.6| 0.9| 3.0| 3.7| 3.1| Carmen FW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTRD-515 | 28|166.0|173.5| 7.5| 1.0| 44.0| 1.7| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|including| |166.0|168.0| 2.0| 2.9| 90.6| 4.4| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |314.0|316.5| 2.5| 0.7| 14.2| 0.9| Hilos HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |337.5|339.0| 1.5| 6.1| 127.0| 8.2| Hilos HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |355.7|363.0| 7.3| 0.5| 5.0| 0.6| Hilos HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |367.5|370.5| 3.0| 0.6| 23.5| 1.0| Hilos HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |414.5|419.0| 4.5| 1.1| 4.2| 1.2| Hilos |
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |524.0|526.5| 2.5| 2.7| 8.8| 2.8| Carmen|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTRD-518 | 25|516.4|518.1| 1.7| 7.4| 3.2| 7.4| Carmen|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTRD-519 | 38|201.6|205.8| 4.2| 1.5| 7.4| 1.7| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|including| |201.6|203.2| 1.6| 2.9| 16.5| 3.2| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |222.5|231.0| 8.5| 0.8| 66.9| 1.7| Cob HW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |247.5|256.2| 8.7| 0.7| 20.2| 1.1| Cob|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |259.1|267.0| 7.9| 0.6| 17.7| 0.9| Cob FW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |286.5|291.5| 5.0| 0.8| 20.9| 1.1| Cob FW|
| | | | | | | | | Splay|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|and | |369.5|373.8| 4.3| 1.2| 1.9| 1.1| Unknown|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
|MTRD-521 | 43|282.0|284.7| 2.7| 1.6| 22.7| 2.0| Unknown|
|_________|_______|_____|_____|__________|_____|______|__________|__________|
* True widths are expected to range between 65% and 85% of the intervals
reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one
gram of gold.
*** VM structures = Veta Minitas structures
SOURCE Kimber Resources Inc.
