Kimber intercepts 2.3 metres of 22.7g/t gold below Carmen gold-silver deposit, Monterde Project
VANCOUVER, Aug. 31, 2011 /CNW/ --
VANCOUVER, Aug. 31, 2011 /CNW/ - Kimber Resources Inc. (NYSE Amex:KBX,
TSX:KBR) is pleased to announce the results of three drill holes in
Mexico, with encouraging results. The holes were drilled with the
objective of expanding and upgrading mineral resources potentially
amenable to underground extraction ('Carmen Deep' target). A wedge off
hole MTC-122 and hole MTRD 502 intersected the Carmen structure at
deeper levels than previously drilled providing further support that
there is good potential for high grade gold-silver mineralization in
the Carmen structure at considerably deeper levels than was previously
understood. Hole MTRD 502 intersected the Carmen structure over 30
metres directly below hole MTRD-476 which intersected 78.4g/t gold and
127.9g/t silver over 5.2m, (see news release dated May 31, 2011).
Highlights of assay results drilled at the Carmen deposit are tabulated
below, while complete results for all three complete holes and the
wedge off MTC-122 are attached:
_____________________________________________________________________
| | |From | To |Intercept |Gold |Silver | Gold |
| Drill hole |Section| (m) | (m) | (m)* |(g/t)| (g/t) |Equivalent |
| | | | | | | | (g/t)** |
|____________|_______|_____|_____|__________|_____|_______|___________|
|MTC-122 | 32|628.6|630.8| 2.2| 3.0| 6.6| 3.1|
|____________|_______|_____|_____|__________|_____|_______|___________|
|MTC-122D*** | 32|643.2|645.5| 2.3| 22.7| 32.6| 23.2|
|____________|_______|_____|_____|__________|_____|_______|___________|
|Including***| |644.1|645.5| 1.4| 38.1| 52.3| 39.0|
|____________|_______|_____|_____|__________|_____|_______|___________|
|MTRD-501 | 38|114.0|116.0| 2.0| 2.6| 127.0| 4.7|
|____________|_______|_____|_____|__________|_____|_______|___________|
|and | |166.0|168.0| 2.0| 2.3| 135.0| 4.6|
|____________|_______|_____|_____|__________|_____|_______|___________|
|and | |299.0|301.0| 2.0| 3.5| 236.0| 7.4|
|____________|_______|_____|_____|__________|_____|_______|___________|
|MTRD-502 | 30|584.0|587.0| 3.0| 8.8| 7.7| 8.9|
|____________|_______|_____|_____|__________|_____|_______|___________|
|including | 30|585.5|587.0| 1.5| 16.6| 8.7| 16.7|
|____________|_______|_____|_____|__________|_____|_______|___________|
* 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.
*** Wedge off hole MTC 122 at 553.9 metres depth down hole
'The intercepts of 2.3 metres of 22.7 g/t gold from hole MTC-122D and 3
metres of 8.8 g/t gold in hole MTRD 502 are significant as they give
further support for the extension of possible high grade gold-silver
mineralization on the main Carmen structure below the currently defined
mineral resources that comprise the Carmen deposit,' said Gordon
Cummings, President and CEO of Kimber Resources. 'Good progress has
been made with our resource drilling and metallurgical drilling over
the summer with minimal delays from the rainy season so far. Currently
Kimber has three core rigs and one reverse circulation rig on site with
drilling taking place on the Cob structure (part of the Carmen deposit)
and at the Veta Minitas deposit.'
Drill Hole Details
The MTRD holes were pre-collared with reverse circulation holes and
completed to depth with core drilling in order to allow the holes to
reach target depths more cost effectively and promptly. Hole MTC-122
and MTC-122D were drilled with core drilling alone
Drill hole MTC-122 was collared on section 32 to test the Carmen
structure at a depth of 450 metres below surface between previously
reported holes MTRD-476 & 477. The Carmen intersection in MTC-122 was
ground away during the drilling process and the key intercept lost. A
wedge off the main hole was used to re-cut the Carmen structure (hole
MTC-122D) a short distance away. The intersection showed semi-massive
sphalerite and galena accompanied by pyrite, similar to the
intersections in MTRD-476 and MTRD-477. The interval returned 2.3
metres of 22.7 g/t gold and 32.6 g/t silver and intercepted the main
Carmen structure over 200 metres below previously drilled
mineralization.
Drill hole MTRD-501 was collared on section 38 to test the Carmen zone
at a depth of 450 metres below surface and 100 metres along strike to
the north of high grade sulphide mineralization intersected in
MTRD-477. The hole intersected gold and silver mineralization in the
Cob and Hilos structures but did not return any significant precious
metal results from the Carmen structure. Anomalous lead and zinc values
were returned from the trace of the Carmen structure intersected on
section 39. Additional drilling is warranted to better define controls
on mineralization in this area.
Drill hole MTRD-502 was collared on section 30 to test the continuity of
mineralization over 30 metres below previously reported drill hole
MTRD-476. The hole cut the Cob structure and intersected the Carmen
structure 425 metres below surface and returned 3.0 metres of 8.8 g/t
gold and 7.7 g/t silver. The intersection was silicified and no base
metal mineralization was observed.
Illustrations
A plan view of the location of the drill holes completed in 2011, with
MTC-122, MTRD-501 and MTRD 502 highlighted, can be viewed via the
following link:
Plan View of Carmen 2011 drill holes
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 Updated Preliminary Assessment for Monterde in 2011
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.
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 implications of the results of
drill holes reported herein, the results of future exploration, the
economic potential of any such discoveries made, 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', 'potential for', 'potentially', 'suggests' 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, continuity of mineralization between drill holes,
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.
Quality Assurance/Quality 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 and approved 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 and is responsible
for quality control at Monterde 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.
Complete table of Carmen drill results
To accompany Kimber News Release Dated August 31, 2011
________________________________________________________________________________________________
| | |From | To |Interval| | Silver | Gold | |
| Hole |including| (m) | (m) | (m) |Gold g/t | g/t | Equivalent |Structure|
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122 | |302.0|322.4| 20.4| | | | hw splay|
| | | | | | 0.26| 51.1| 1.1| COB|
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122 |including|314.9|316.0| 1.1| | | | hw splay|
| | | | | | 1.76| 86.9| 3.2| COB|
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122 |and |380.7|385.7| 5.0| | | | COB|
| | | | | | 0.96| 26.6| 1.4| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122 |and |513.8|515.8| 2.0| | | | hilos 2|
| | | | | | 2.86| 39.9| 3.5| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122 |including|513.8|514.9| 1.1| | | | hilos 2|
| | | | | | 5.21| 72.6| 6.4| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122 |and |628.6|630.8| 2.2| | | | CARMEN|
| | | | | | 3.04| 6.6| 3.1| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122D***| |643.2|645.5| 2.3| | | | CARMEN|
| | | | | | 22.67| 32.6| 23.2| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTC-122D***|including|644.1|645.5| 1.4| | | | CARMEN|
| | | | | | 38.10| 52.3| 39.0| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-501 | |100.0|118.0| 18.0| | | | COB|
| | | | | | 0.79| 57.3| 1.7| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-501 |including|100.0|102.0| 2.0| | | | COB|
| | | | | | 2.15| 87.3| 3.6| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-501 |including|114.0|116.0| 2.0| | | | COB|
| | | | | | 2.62| 127.0| 4.7| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-501 |and |166.0|168.0| 2.0| | | | fw splay|
| | | | | | 2.32| 135.0| 4.6| COB|
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-501 |and |223.0|224.0| 1.0| | | | hw splay|
| | | | | | 2.97| 11.0| 3.2| hilos 2|
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-501 |and |299.0|301.0| 2.0| | | | hilos 2|
| | | | | | 3.46| 236.0| 7.4| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-502 | |354.0|357.0| 3.0| | | | hw splay|
| | | | | | 1.33| 26.6| 1.8| COB|
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-502 |and |430.5|435.0| 4.5| | | | COB|
| | | | | | 0.86| 4.2| 0.9| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-502 |and |584.0|587.0| 3.0| | | | CARMEN|
| | | | | | 8.80| 7.7| 8.9| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
|MTRD-502 |including|585.5|587.0| 1.5| | | | CARMEN|
| | | | | | 16.55| 8.7| 16.7| |
|___________|_________|_____|_____|________|_________|___________|_____________________|_________|
* 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.
*** Wedge off hole MTC 122 at 553.9 metres depth down hole
**** NSR = No significant result
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/31/c7674.html
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