KIMBER COMMENCES DRILLING AT MONTERDE
Over
30,000 metres of drilling to target expansion and
upgrade of Mineral Resources
Vancouver, British
Columbia - Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to
announce that a 30,000-metre drilling program has commenced at its Monterde project in the prolific Sierra Madre gold-silver
belt of northern Mexico. The drill program is designed to expand and upgrade
mineral resources at the Carmen and Veta Minitas deposits, as well as to drill test new exploration
targets.
"I am very
pleased that the first phase of the new drill program at Monterde
is underway," said Gordon Cummings, President and CEO of Kimber Resources. "The drilling now in progress at
Carmen should improve our confidence in the continuity and lateral extent of
mineralization in the upper part of the Carmen deposit. Our objective with this
first phase of the drill program is to expand and upgrade mineral resources
within the proposed open pit area of the Carmen Deposit in order to increase
measured and indicated tonnes prior to the completion
of a pre-feasibility study later in 2011."
A second reverse
circulation drill rig is expected to arrive within the next few weeks. Drilling
over the first half of 2011 is planned to intersect the main Carmen structure
at depth and along strike, the Cob structure (which is part of the Carmen
deposit), and the Veta Minitas
deposit, as well as drill testing three new structures to the north of Carmen
and Veta Minitas. These
three new targets include La Verde, where surface sampling previously released
returned up to 4 metres of 250 g/t silver.
Exploration is ongoing and the drill program and geological model will be
evaluated and revised as assay results are received. The 30,000 metre drill program will involve a combination of core and
reverse circulation drilling. If exploration drill results are successful the
drill program could be expanded.
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 represents 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 deposit 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 PA, 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 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.
registered 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.