Kimber updates exploration and development progress
06 Mayo 2009 - 8:15AM
PR Newswire (US)
VANCOUVER, May 6 /PRNewswire-FirstCall/ -- Kimber Resources Inc.
(NYSE AMEX:KBX, TSX:KBR) is pleased to review recent progress made
in respect of its 100% owned Monterde gold-silver and Pericones
silver projects in Mexico. Monterde Gold-Silver Project During
2009, Kimber has made considerable progress in refining the
geological models for the three gold-silver deposits at Monterde:
Carmen, Veta Minitas and Carotare, all as part of a complete
geological review of the deposits. Monterde is Kimber's principal
project and encompasses more than 29,000 hectares in the prolific
Sierra Madre gold-silver belt in Mexico, host to more than a dozen
mines and major gold-silver deposits. The geologic model includes
results from more than 786 drill holes completed to date, in
aggregate more than 170,500 metres of drilling. Technical Report
During April 2009, Kimber commissioned Micon International of
Toronto to complete a new mineral resource estimate for the
Monterde project, encompassing all three of the Monterde
gold-silver deposits, in a single National Instrument 43-101
compliant technical report. This mineral resource estimate will
take into account the 2008 drilling on Carmen and Veta Minitas,
previous diamond and RC drill holes that were not included in the
current mineral resource estimates, the updated geological models
and new models of the interpreted gold and silver metallurgical
recoveries. In addition to the preparation of mineral resource
estimates for the three Monterde deposits using gold-silver cut-off
grades appropriate for possible open pit scenarios, the higher
grade gold-silver mineralization at Carmen will also be modeled on
a gold-equivalent basis. This higher grade gold-silver mineral
resource estimate, more appropriate for underground operations,
will also be included in the technical report. "The new mineral
resource estimate and technical report for the Monterde project
will give us a better picture of the gold-silver mineralization and
geology of the Monterde gold-silver deposit and lay the foundation
for future economic studies," said Gordon Cummings, President &
CEO of Kimber. "Kimber's objective is to have this comprehensive
update of the mineral resources at Monterde and a technical report
completed in September 2009." Exploration Activities In tandem with
the mineral resource estimates and activities to advance the
existing gold-silver deposits at Monterde, exploration work also
continues with the objective of discovering additional gold-silver
deposits at Monterde. Over the last eight months, Kimber's
experienced exploration team has undertaken a significant mapping
and sampling program within a 4km radius of the Carmen deposit to
improve our understanding of the geology of the area and to
identify prospective drill targets. Through this work, a new
structure has been identified to the north of the Carmen deposit
with a northwest strike and near vertical dip. This structure has
been traced over 200 metres along strike but remains open to the
southeast where it is covered by overburden. This new structure is
characterized by zones of oxidation with patches of silicification
ranging from 50 cm to 3 metres in width. The first round of
sampling returned values ranging from 26 to 187 g/t silver with no
gold. The structure appears to contain elevated levels of barium,
manganese and antimony associated with the silver, a similar
association to that at the Carmen deposit. Further work is being
carried out on this area to assess the potential for the discovery
of additional gold and/or silver mineral resources. Pericones
Silver-Gold Project The Pericones project is comprised of two
contiguous concessions totaling 11,880 hectares located
approximately 100 kilometres southwest of Mexico City. The area has
been the subject of mineral exploration since colonial times, with
numerous historic mines and workings on the Pericones property.
Infrastructure is excellent, with two paved roads transecting the
concessions, both with parallel hydro lines, as well as numerous,
well maintained gravel roads connecting local communities. Water is
available year-round from streams and rivers passing through the
property. Four main areas of interest have been identified at
Pericones to date: Plaza de Gallos, El Cirian, Aquacate and
Tejamanil. The Plaza de Gallos target was the primary focus of
Kimber's most recent exploration work on the Pericones property. An
adit, approximately 110 metres long with two levels, excavated in
the 1980's, was mapped and sampled by Kimber personnel during the
2008/2009 exploration program. The Plaza de Gallos structure ranges
from 1.3 to 3.0 metres in width and silver-gold mineralization
occurs throughout the entire length of the adit. High grade silver
is associated with elevated levels of copper, lead and zinc.
Highlights from the underground sampling at Plaza de Gallos
include: - 1,362 g/t silver and 0.31 g/t gold over 2.3m, - 307 g/t
silver and 0.24 g/t gold over 3.0m, - 480 g/t silver over 2.9m, and
- 225 g/t silver and 0.60 g/t gold over 1.9m. The surface trace of
the mineralization has been mapped by Kimber geologists over 900
metres of strike from the adit portal. Five samples collected from
the surface expression of the structure returned values of 171 g/t
to 242 g/t silver in chip samples over widths of 1.5 metres. These
samples ranged from 190-160 metres vertically above the mine
workings. Kimber is in the process of finalizing land use
agreements at Plaza de Gallos and is applying for necessary
permits. An initial 3,000 metre drill program is planned at Plaza
de Gallos later in 2009. The El Cirian area is located
approximately two kilometres southeast of Plaza de Gallos.
Highlights from the 2008/2009 exploration program are provided
below: - 307 g/t silver and 0.18 g/t gold over 3.0m, - 212 g/t
silver and 0.17 g/t gold over 3.0m, and - 128 g/t silver and 0.48
g/t gold over 3.0m. The El Aguacate area is located 3 kilometres
southeast of El Cirian. A total of 15 structures and 45 historic
mine workings have been identified. Highlights from the 2008/2009
exploration program are provided below: - 1,290 g/t silver and 0.12
g/t gold over 1.5m, - 596 g/t silver and 0.67 g/t gold over 1.5m, -
345 g/t silver over 1.3m, and - 324 g/t silver over 1.5m. For a
complete list of samples from the 2008/2009 program at Pericones
please go to the "Properties" tab at our website
http://www.kimberresources.com/. There are still a number of areas
at Pericones to review for exploration potential and geological
mapping and sampling is ongoing. Other Opportunities Kimber
Resources has built an experienced exploration team and is actively
pursuing exploration opportunities in Mexico to create value for
the shareholders. Kimber is currently reviewing a number of
prospective projects in Mexico and will continue this process to
identify projects with the most attractive exploration potential
that could complement the advanced Monterde project and the early
stage but highly prospective Pericones project. Health and Safety
In accordance with a presidential decree and in support of the
Mexican Government's efforts to contain the H1N1 virus pandemic,
Kimber ceased operations at its Mexican operations from May 1 to
May 5, 2009, with normal operations resuming on May 6, 2009. No
cases of the H1N1 virus have been reported by Kimber's staff or
operatives in Mexico. About Kimber Kimber owns mineral concessions
covering in excess of 39,000 hectares in the prospective Sierra
Madre gold-silver belt, including the Company's 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 is currently undergoing detailed geologic
modeling in order to evaluate the potential for a combined open pit
and underground mining operation based on current mineral
resources. In addition, the Company has a 100% interest in the
mineral concessions of its Pericones property, an 11,890 hectare
property targeted for silver, located approximately 100 kilometres
southwest of Mexico City. Statements in this release may be viewed
as forward-looking statements. Such statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected. There are no assurances the Company can
fulfil such forward-looking statements and the Company undertakes
no obligation to update such statements. 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 and Pericones project sites are carried out under the
supervision of Mr. Mare, who is the designated Qualified Person
under National Instrument 43-101 for the Monterde and Pericones
projects. Mr. Petrus (Marius) Mare, Vice-President Exploration, is
the designated Qualified Person (Q.P.) for the Monterde and
Pericones projects 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 and Pericones projects) 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 in our Form 20-F which may be
secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml. DATASOURCE: Kimber Resources Inc.
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:
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