KIMBER INTERCEPTS 10 METRES OF 2.2 G/T
GOLD AND 98 G/T SILVER AT CARMEN DEPOSIT AND 6 METRES OF 85 G/T SILVER At NEW
LA VERDE TARGET
Vancouver, British
Columbia - Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to
announce results from a further 12 holes from its reverse circulation drilling
program at its Monterde Project in Mexico. Six
holes were drilled at the southern end of the main Carmen and Cob structures
and six holes were drilled on three new targets within two kilometres
of the main Carmen deposit: La Verde, Veta Norte and Estructura 0409. A map of the three new areas drilled
relative to Carmen can be viewed using the following link:
http://www.kimberresources.com/properties-new-targets
�We are making good
progress on our drill program at Monterde,� said
Gordon Cummings, President and CEO of Kimber
Resources. �The most southerly of the three holes drilled at the new La Verde
target intercepted 6 metres of 85 g/t silver
approximately 60 metres below surface. Further
holes are being planned at La Verde, which is seen as a prospective silver
target with the possibility of gold deeper in the system,� he said.
�In-fill drill results at Carmen are in line with expectations and core
drilling is now underway to target deeper portions of the main Carmen structure
to test for high grade gold-silver mineralization that could be mined
underground.�
Highlights of assay
results from the recent reverse circulation holes drilled at the Monterde are tabulated below, while complete results are
attached:
Drill
hole
|
From
(m)
|
To
(m)
|
Intercept*(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
La Verde
|
|
|
|
|
|
MTR-464
|
86
|
92
|
6
|
trace
|
85.3
|
|
|
|
|
|
|
Carmen
|
|
|
|
|
|
MTR-467
|
60
|
66
|
6
|
0.45
|
107.3
|
including
|
62
|
64
|
2
|
1.20
|
150.0
|
MTR-470
|
38
|
48
|
10
|
2.18
|
98.0
|
including
|
42
|
44
|
2
|
7.98
|
233
|
* True
widths are expected to range between 65% and 85% of the intervals reported on
the table above.
Review
of initial drilling at the new target areas to the north of Carmen
La
Verde
A three hole program was completed on the La Verde
structure to test the silver mineralization identified in surface sampling in
2010. All three drill holes began and ended in felsic,
crystal-lithic tuff, similar to that encountered at
depth on the Carmen structure two kilometres to the
southwest. All three drill holes appear to have encountered the projection of
the silicified La Verde structure at the planned depth. Alteration consisted of
veinlets of quartz associated with oxidized pyrite
and manganese oxides. A six metre interval averaging
85.3 g/t of silver was returned from drill hole MTR-464. Good potential exists
both to the north and south of MTR-464 as well as down dip.
Estructura 0409
After reviewing the drill data from the drilling of
the 0409 structure it is apparent that the drill hole did not reach the target
because of steepening of the hole. Further drilling is being planned in
this area to successfully intercept the targeted structure.
Veta Norte
Two holes were drilled at Veta Norte and low levels
of silver mineralization were identified in samples with no significant
results.
Review
of drilling at the Carmen Deposit
The two reverse
circulation holes (MTR-467 and MTR-470) drilled on sections 25 and 27, at the
southern end of the current mineral resource model, intercepted 6 metres of 0.45 g/t gold and 107 g/t silver and 10 metres of 2.18 g/t gold and 98 g/t silver,
respectively. Results were in line with prior expectations. The holes
drilled at the most southerly end of Carmen beyond the current mineral resource
limits did not intercept strong mineralization.
Complete
table of Monterde drill results
To accompany Kimber News
Release Dated April 19, 2011
Drill
hole
|
Section
|
From
(m)
|
To
(m)
|
Intercept*(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
La Verde
|
|
|
|
|
|
|
MTR-464
|
|
86
|
92
|
6
|
trace
|
85.3
|
MTR 461
|
|
NSR
|
|
|
|
|
MTR 463
|
|
NSR
|
|
|
|
|
|
|
|
|
|
|
|
Veta Norte
|
|
|
|
|
|
|
MTR 465
|
|
NSR
|
|
|
|
|
MTR 466
|
|
NSR
|
|
|
|
|
|
|
|
|
|
|
|
Estructura 0409
|
|
|
|
|
|
|
MTR 468
|
|
NSR*
|
|
|
|
|
|
|
|
|
|
|
|
Carmen
|
|
|
|
|
|
|
MTR-459
|
21
|
NSR
|
|
|
|
|
MTR-462
|
22
|
NSR
|
|
|
|
|
MTR-467
|
25
|
60
|
66
|
6
|
0.45
|
107.3
|
including
|
25
|
62
|
64
|
2
|
1.20
|
150.0
|
MTR-469
|
23
|
NSR
|
|
|
|
|
MTR-470
|
27
|
38
|
48
|
10
|
2.18
|
98.0
|
including
|
27
|
42
|
44
|
2
|
7.98
|
233
|
MTR-471
|
23
|
NSR
|
|
|
|
|
NSR = No significant results
*Targeted
structure not intersected due to steepening of the hole.
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 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.