KIMBER REPORTS FIRST DRILL RESULTS FROM
CARMEN GOLD-SILVER DEPOSIT, MONTERDE
Vancouver, British
Columbia - Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to announce results from the
first four holes of its reverse circulation drilling program at the Carmen
deposit at its Monterde Project in Mexico. The
purpose of this first phase of the planned 30,000 metre
drill program of reverse circulation and diamond drilling is to expand and
upgrade mineral resources within the proposed open pit at Carmen. The four
infill holes were drilled on the south end of the proposed Carmen pit, within
the limits of the existing resource. The average intersection depth of the
holes averaged 25 metres below surface. No visible sulphides were noted in any of the drill holes. The holes
were designed to intersect the main Carmen structure vertically between
previously reported drill hole intercepts and surface
trenches; these holes achieved their objective in each case.
�We are pleased
that the gold-silver assay results from the first four reverse circulation
drill holes, drilled in the uppermost portions of the Carmen structure,
confirmed the continuity of the mineralization between trenches and drill
holes,� said Gordon Cummings, President and CEO of Kimber
Resources. �These first four holes drill holes are part of our work program to
upgrade and expand mineral resources at the top part of the main Carmen
structure. Each of the holes successfully intersected the main Carmen structure
over good widths with grades in the range of material previously determined to
be amenable to open pit mining,� he said.
Assay results from
the first four reverse circulation holes drilled along the Carmen structure are
tabulated below:
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
MTR-446
|
14
|
50
|
36
|
0.60
|
61.8
|
including
|
18
|
20
|
2
|
5.94
|
159.0
|
MTR-447
|
22
|
50
|
28
|
0.27
|
72.0
|
and
|
64
|
76
|
12
|
0.34
|
50.0
|
MTR-448
|
20
|
32
|
12
|
0.95
|
200.0
|
including
|
22
|
24
|
2
|
4.54
|
534.0
|
MTR-449
|
6
|
12
|
6
|
0.33
|
128.0
|
And
|
28
|
46
|
18
|
0.42
|
74.6
|
including
|
36
|
38
|
2
|
1.86
|
286.0
|
True widths are
expected to range between 65% and 85% of the intervals reported on the table
above.
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 Preliminary
Assessment for Monterde in 2010 represented a
significant step forward for Kimber and is expected
to lead to further development and more advanced economic studies at the Monterde deposits including the completion of a
pre-feasibility study during 2011.
FOR FURTHER
INFORMATION PLEASE CONTACT:
Matthew Hamilton
Manager of Investor Relations
or
Gordon Cummings CA
President and CEO
North America Toll
Free: 1-866-824-1100
Tel: (604) 669-2251
Fax: (604) 669-8577
Website: http://www.kimberresources.com
Email: news@kimberresources.com
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 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� 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, 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.
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 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. Mr. Petrus (Marius) Mare, Vice-President
Exploration, is the designated Qualified Person (Q.P.) for the Monterde project being responsible for quality control and
has verified the data being disclosed. He has determined that the laboratory
reports matched the surface and adit sample logs and
that the quality control assays fall within reasonable limits. QA/QC procedures
incorporate blanks inserted at the core shack (Monterde
project) and standards inserted after sample preparation (Monterde
Project). 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.