KIMBER INTERCEPTS 8 METRES OF 1.6 G/T
GOLD AND 224 G/T SILVER AT CARMEN GOLD-SILVER DEPOSIT, MONTERDE
Vancouver, British
Columbia - Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to announce results from a
further ten holes from its reverse circulation drilling program at the Carmen
deposit at its Monterde Project in Mexico. The ten
holes were drilled along the northern end of the main Carmen structure and
along the main splay, within the limits of the existing resource of the Carmen
deposit. No visible sulphides were noted in any of
the drill holes. The holes were designed to intersect the Carmen structure and
its main splay vertically between previously reported drill hole
intercepts and surface trenches; these holes achieved their objective in each
case.
�We are pleased
with the recent gold-silver assay results from our drilling in the upper
portions of the Carmen structure and its main splay,� said Gordon Cummings,
President and CEO of Kimber Resources. �These ten
drill holes were completed as part of our work program to upgrade and expand
mineral resources in the upper portions of the Carmen deposit..
Each of the holes was successful with good widths and good grades,� he said.
Highlights of assay
results from the ten reverse circulation holes drilled at the Carmen deposit
are tabulated below, while complete results are attached:
Drill
hole
|
From
(m)
|
To
(m)
|
Intercept*(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
MTR-454
|
2
|
36
|
34
|
0.54
|
118.4
|
including
|
24
|
32
|
8
|
1.61
|
224.3
|
MTR-455
|
46
|
56
|
10
|
0.68
|
266.8
|
including
|
48
|
54
|
6
|
1.08
|
409.3
|
and
|
64
|
72
|
8
|
0.14
|
82.0
|
MTR-458
|
8
|
24
|
16
|
0.23
|
79.7
|
and
|
36
|
76
|
40
|
0.78
|
99.4
|
including
|
40
|
42
|
2
|
2.01
|
240.0
|
including
|
52
|
64
|
12
|
1.47
|
151.6
|
MTR-460
|
20
|
28
|
8
|
0.49
|
87.9
|
including
|
24
|
26
|
2
|
1.67
|
211.0
|
and
|
38
|
94
|
56
|
0.44
|
89.7
|
including
|
54
|
60
|
6
|
1.26
|
192.3
|
and
|
86
|
90
|
4
|
1.36
|
127.5
|
* True
widths are expected to range between 65% and 85% of the intervals reported on
the table above.
All drill holes are
located on the northern half of the Carmen structure and main splay structure
and are located on sections 39 to 49. The purpose of the drilling was to
upgrade the resources within the outline of the planned open pit. The drill
holes intersected the Carmen structure on average 25 metres
below surface and were designed to increase confidence in the continuity of
mineralization between previous drilling and surface trenching. Four holes were
targeted on the Main Splay to better define resources on that portion of the
proposed open pit.
The holes
intersected a mixture of felsic, crystal-lithic tuffs and tuff breccia.
Mineralization is associated with strong, pervasive silicification
with minor phyllic alteration. Silicified zones
average 6 metres in width but silver mineralization
often extends for tens of metres outside of the
strongly silicified zones, particularly into the hanging wall.
Trench results
Trench
|
Section
|
From
(m)
|
To
(m)
|
Width
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
Structure
|
Trench TS47C
|
47
|
0
|
19.0
|
19.0
|
0.55
|
87.2
|
Carmen + Splay
|
including
|
|
5.3
|
6.3
|
1.0
|
3.35
|
140.0
|
Carmen
|
and
|
|
17.9
|
19.0
|
1.1
|
2.39
|
119.0
|
Splay
|
The trench TS47C
results are encouraging as they extend the surface mineralization 25 metres to the north of trenching for Carmen reported in
November 2010.
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.