KIMBER INTERCEPTS 5.2 METRES OF 51.9 g/t
GOLD and 1,076 g/t SILVER BELOW CARMEN GOLD-SILVER DEPOSIT, MONTERDE PROJECT
Hole
MTRD-477 hits multiple structures below previous drilling, improving potential
for underground extraction of Carmen Deep areas
Vancouver, British
Columbia - Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to
announce the results of a further 8 drill holes from its ongoing drill program
at the Carmen Deposit at its Monterde Project in
Mexico. Hole MTRD-477 was drilled with the
objective of expanding and upgrading mineral resources potentially amenable to
underground extraction (�Carmen Deep� target) and intersected multiple high
grade zones of gold-silver mineralization, as detailed below. Seven of the
drill holes (MTR-483 to 489) were drilled to increase the confidence level of
shallow mineral resources potentially amenable to open pit extraction (�Carmen
Pit� targets). These seven holes returned results in line with
expectations and will support increased confidence in mineral resources in the
Carmen Pit areas.
�We are extremely
pleased with these most recent results from drilling at the Carmen deposit,�
said Gordon Cummings, President and CEO of Kimber
Resources. �Hole MTRD-477 had a number of high grade gold-silver intercepts
involving multiple structures, including one of the best high-grade gold-silver
drill intercepts ever recorded at Monterde, returning
5.2 metres of 51.9 g/t gold and 1,076.7 g/t silver
from the Hilos structure within the Carmen
Deposit. This intercept, drilled with core, contained visible gold and
also includes 1.3 metres of 188.5 g/t gold and 3,770
g/t silver. Two additional intercepts (of 0.9 metres
of 44.5 g/t gold and 38.2 g/t silver and 1.2 metres
of 28.2 g/t gold and 26.0 g/t silver) are interpreted to have come from the
main Carmen structure, 40 metres below previous
drilling, and are associated with strong sulphide
veining,� he said. �These high grade intercepts are very positive and indicate
potential to expand high grade gold-silver mineral resources in Carmen Deep
areas.�
Highlights of assay
results from hole MTRD-477 drilled at the Carmen
deposit are tabulated below, while complete results for all eight holes are
attached:
Drill hole
|
Section
|
From
(m)
|
To
(m)
|
Intercept*
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
Gold equivalent**
(g/t)
|
MTRD-477
|
34
|
166.0
|
174.0
|
8.0
|
1.7
|
181.5
|
4.7
|
including
|
|
172.0
|
174.0
|
2.0
|
5.1
|
418.0
|
12.0
|
and
|
***
|
255.5
|
260.7
|
5.2
|
51.9
|
1,076.7
|
69.9
|
including
|
***
|
256.9
|
258.2
|
1.3
|
188.5
|
3,770.0
|
251.3
|
and
|
|
338.4
|
340.4
|
2.0
|
25.2
|
725.0
|
37.3
|
and
|
|
410.4
|
411.2
|
0.8
|
23.4
|
23.1
|
23.8
|
and
|
|
418.5
|
419.4
|
0.9
|
44.5
|
38.2
|
45.1
|
and
|
|
432.0
|
433.2
|
1.2
|
28.2
|
26.0
|
28.6
|
* 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.
*** Gold grade confirmed by
1kg screened fire assay.
Drill hole MTRD-477
was drilled on section 34 with the goal of testing the Carmen structure at a
vertical depth of 350 metres below surface, in an
area that had not been drill tested in the past. High grade silver
mineralization between 166 and 174 metres down hole
is associated with a hanging wall splay to the Cob structure. Alteration
consists of moderate limonite and hematite hosted by intermediate pyroclastic breccias. High grade gold and silver mineralization between
268.2 and 274.7 metres down hole is associated with a
zone of quartz veining with veinlets of galena and sphalerite and occasional amethyst and is interpreted to
correspond to the Hilos structure. Between 415.6 metres and 420.1 metres down
hole, a zone of strong sulphide veining was
intersected. Mineralization in this intercept consists of coarse grained sphalerite with galena, quartz, calcite and hematite veins.
This style of mineralization extends sporadically downhole
to 437.4 metres and is associated with high grade
gold mineralization. These sulphide veins are
interpreted to represent a new style of mineralization on the Carmen structure
and suggest potential for a high sulphidation
epithermal gold system.
In order to review
a plan view of the location of the drill collars of each hole and to view a vertical
section of hole MTRD-477 showing a selection of intercepts detailed in the
highlights summary above please click on the following link: http://www.kimberresources.com/properties-carmen
The drilling of the
Carmen Deep targets utilizes a combination of reverse circulation drilling at
the top of the hole and diamond drilling in the lower part of the hole to
improve productivity and reduce costs. Additional drilling is underway in the
Carmen Deep target area.
The seven shallow
holes represent the completion of the most recent program of Carmen Pit holes
and data from all the new holes in the Carmen Pit area will be used to assist
with updated mineral resource estimation and mine planning.
Complete table of
Carmen drill results
To accompany Kimber News
Release Dated May 26, 2011
Drill hole
|
Section
|
From
(m)
|
To
(m)
|
Intercept*(m)
|
Drill
type
|
Gold
(g/t)
|
Silver
(g/t)
|
Gold equivalent
(g/t)**
|
Structure
|
MTRD-477
|
34
|
166.0
|
174.0
|
8.0
|
RC
|
1.7
|
181.5
|
4.7
|
Cob
|
including
|
|
172.0
|
174.0
|
2.0
|
RC
|
5.1
|
418.0
|
12.0
|
Cob
|
and
|
***
|
255.5
|
260.7
|
5.2
|
Core
|
51.9
|
1,076.7
|
69.9
|
Hilos C2 HW
|
including
|
***
|
256.9
|
258.2
|
1.3
|
Core
|
188.5
|
3,770.0
|
251.3
|
Hilos C2 HW
|
and
|
|
268.2
|
274.7
|
6.6
|
Core
|
2.3
|
102.6
|
4.0
|
FW Splay Hilos C2
|
and
|
|
338.4
|
340.4
|
2.0
|
Core
|
25.2
|
725.0
|
37.3
|
Hilos FW splay
|
and
|
|
410.4
|
411.2
|
0.8
|
Core
|
23.4
|
23.1
|
23.8
|
Carmen HW splay
|
and
|
|
418.5
|
419.4
|
0.9
|
Core
|
44.5
|
38.2
|
45.1
|
Carmen HW splay
|
and
|
|
425.6
|
426.9
|
1.3
|
Core
|
3.8
|
10.7
|
4.0
|
Carmen HW splay
|
and
|
|
432.1
|
438.5
|
6.4
|
Core
|
5.6
|
6.2
|
5.7
|
Carmen
|
including
|
|
432.1
|
433.2
|
1.1
|
Core
|
28.2
|
26.0
|
28.6
|
Carmen
|
MTR-483
|
40.5
|
20.0
|
26.0
|
6.0
|
RC
|
0.2
|
35.3
|
0.8
|
Hilos Splay1
|
and
|
|
44.0
|
50.0
|
6.0
|
RC
|
0.4
|
108.2
|
2.2
|
Hilos C2-Splay1
|
including
|
|
48.0
|
50.0
|
2.0
|
RC
|
0.8
|
200.0
|
4.2
|
Hilos C2-Splay1
|
and
|
|
82.0
|
92.0
|
10.0
|
RC
|
0.4
|
73.3
|
1.7
|
Hilos C2
|
MTR-484
|
39.5
|
54.0
|
60.0
|
6.0
|
RC
|
0.3
|
44.8
|
1.0
|
Splay btw
Main&Hilos
|
and
|
|
74.0
|
86.0
|
12.0
|
RC
|
0.4
|
43.5
|
1.1
|
Splay btw
Main&Hilos
|
MTR 485
|
38.5
|
40.0
|
46.0
|
6.0
|
RC
|
0.1
|
48.6
|
0.9
|
Splay btw
Main&Hilos
|
MTR 486
|
37.5
|
8.0
|
14.0
|
6.0
|
RC
|
1.1
|
66.1
|
2.2
|
Hilos C2
|
including
|
|
8.0
|
10.0
|
2.0
|
RC
|
2.4
|
117.0
|
4.3
|
Hilos C2
|
and
|
|
20.0
|
22.0
|
2.0
|
RC
|
4.0
|
80.6
|
5.3
|
FW Splay Hilos
|
and
|
|
56.0
|
62.0
|
6.0
|
RC
|
0.3
|
37.5
|
0.9
|
Splay btw
Main&Hilos
|
and
|
|
70.0
|
76.0
|
6.0
|
RC
|
0.6
|
29.6
|
1.1
|
|
MTR 487
|
36.5
|
2.0
|
10.0
|
8.0
|
RC
|
0.3
|
45.1
|
1.1
|
Splay btw
Main&Hilos
|
and
|
|
18.0
|
24.0
|
6.0
|
RC
|
0.9
|
22.9
|
1.3
|
Splay btw
Main&Hilos
|
MTR 488
|
37.5
|
38.0
|
44.0
|
6.0
|
RC
|
0.2
|
41.4
|
0.8
|
HW Splay Hilos
|
MTR 489
|
36.5
|
10.0
|
22.0
|
12.0
|
RC
|
0.5
|
69.6
|
1.6
|
Cob
|
and
|
|
38.0
|
44.0
|
6.0
|
RC
|
0.2
|
49.1
|
1.0
|
FW Splay Cob
|
and
|
|
72.0
|
78.0
|
6.0
|
RC
|
0.2
|
58.0
|
1.2
|
FW Splay Cob
|
* 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.
*** Gold grade confirmed by
1kg screened fire assay.
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.