Kimber Intercepts 7 Metres of 18.3 g/t Gold and 374.3 g/t Silver in New Structure Discovered at Monterde
26.01.2012 | Marketwire
New Cocos Structure Lies Northeast of Other Carmen Structures, Enlarges Area of Exploration PotentialVANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/26/12 -- Kimber Resources Inc. (TSX: KBR) (NYSE Amex: KBX) is pleased to announce ongoing drill results from an additional 14 drill holes at its Monterde gold/silver project in Mexico, including eight holes drilled at Carmen and six holes drilled at Veta Minitas. Of particular interest is drill hole MTC-142A, which intersected a new structure containing 7 metres of 18.3 g/t gold and 374.3 g/t silver. This wide and high-grade gold-silver intersection is located northeast of other known structures in the Carmen deposit and is believed to be a parallel or semi-parallel structure to the current structures that make up the Carmen deposit. The new structure has been named 'Cocos' and is geologically different from the other structures at Carmen being characterized by bright white quartz and quartz breccia, not the silicification seen in other gold-silver mineralized structures at Carmen. In addition, from the review of Cocos core samples, the base metal sulphides occur as thin veinlets and are finer grained than the sulphides encountered in the Carmen structure in hole MTRD-476 (which intersected 4.9 metres of 78.4 g/t gold and 127.9 g/t silver, as announced May 31, 2011). Also significant is hole MTRD-512 which intersected 8.6 g/t gold and 326.2 g/t silver over 5m in the footwall of the Cob structure.
'The discovery of a new structure containing high-grade gold-silver mineralization further supports our view that Monterde has excellent potential to host additional high-grade structures, both near Carmen and in other areas of Monterde,' reported Gordon Cummings, President and CEO of Kimber. 'Kimber's recent successes in identifying additional high grade mineralization at deeper levels at Carmen, along with the discovery of the new high-grade gold-silver Cocos structure, strongly support Kimber's strategy to drill for growth at Monterde.'
Cocos is not known to outcrop at surface, suggesting the possibility of additional concealed structures to host high-grade gold-silver. The discovery of Cocos also extends the area for exploration at Carmen to the northeast of all previously known structures in this area.
Carmen Results
Highlights of recent assay results from the Carmen deposit area are tabulated below, while complete results for all drill holes are tabulated at the end of this news release:
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Gold
Intercept Equivalent
Drill From To (i) Gold Silver (ii)
Hole Section (m) (m) (m) (g/t) (g/t) (g/t)
----------------------------------------------------------------------------
MTC-142A 34 363.0 370.0 7.0 18.3 374.3 24.6
----------------------------------------------------------------------------
including 34 364.7 365.8 1.1 39.6 767.0 52.4
----------------------------------------------------------------------------
including 34 367.0 368.5 1.5 32.5 873.0 47.1
----------------------------------------------------------------------------
MTRD-512 37 324.3 329.3 5.0 8.6 326.2 14.1
----------------------------------------------------------------------------
MTC-147 33 475.7 477.5 1.8 9.9 416.0 16.8
----------------------------------------------------------------------------
MTC-148 27 476.7 486.2 9.5 5.2 2.7 5.3
----------------------------------------------------------------------------
(i) True widths are expected to range between 65% and 85% of the intervals
reported on the table above.
(ii) Gold equivalent grade assumes equivalence of 60 grams of silver to one
gram of gold.
High-grade gold-silver mineralization at Carmen, including the Cob, Hilos and Cocos structures, remains open along strike and at depth, below the existing mineral resource estimate. Additional drill targets have been identified based on these results that are designed to further delineate this mineralization and to trace it to depth. Drilling is continuing.
Drill Hole details at Carmen
MTC-142A
The newly identified Cocos structure was intercepted in drill hole MTC-142A. The hole was collared on section 34 and designed to test the Carmen structure at the 1750 metre elevation level where mineralization remains open.
At the 2065 metre elevation level the hole cut a zone of intense quartz veining and quartz breccia mineralized by veins of chalcopyrite, galena and sphalerite associated with pyrite. This particular style of mineralization had not been observed in any of the Carmen structures before and returned 7.0 metres grading 18.3 g/t gold and 374.3 g/t silver. The zone was encountered approximately 70 metres up-hole from the Cob structure in an area of little previous drilling indicating the possible discovery of a new mineralized zone in the hanging wall to Cob. Additional drilling is planned to further test this new structure.
Hole MTC-142A also intercepted numerous narrow mineralized zones, including Cob and Hilos with grades of up to 6.3 g/t gold with widths ranging from 0.8-2.0 metres. A hanging wall splay of Carmen returned 1.6 metres grading 4.5 g/t gold with low silver. The Carmen structure returned anomalous gold values only.
MTRD-512
Drill hole MTRD-512 was collared on section 37 and designed to intersect the Carmen structure at the 1660 metre elevation level. The hole returned 5.0 metres grading 8.6 g/t gold and 326.2 g/t silver from a footwall structure to Cob. The Carmen structure returned 9.5 metres grading 0.8 g/t gold and anomalous silver.
MTC-148
Drill hole MTC-148 was collared on section 27 and designed to intersect the Carmen structure at the 1730 metre elevation level. The hole returned 9.5 metres grading 5.2 g/t gold from the Carmen structure and continues to extend mineralization at depth. A footwall structure to Carmen returned 4.2 metres grading 4.0 g/t gold.
MTC-147
Drill hole MTC-147 was collared on section 33 and designed to test the Carmen structure at the 1860 metre elevation level. The hole returned 14.1 metres grading 1.7 g/t gold and 35.2 g/t silver from the Cob structure and 1.8 metres grading 9.9 g/t gold and 416 g/t silver from a Hilos structure splay. The Carmen structure returned 8.0 metres grading 0.8 g/t gold with low silver.
MTC-139A
Drill hole MTC-139A was collared on section 29 and was designed to test the Carmen structure at the 1850 metre elevation level. The hole intersected a number of mineralized zones in the hanging wall to the Cob structure. A highlight from the these structures was 3.6 metres grading 2.6 g/t gold and 96.1 g/t silver. The Cob structure returned 1.6 metres grading 3.8 g/t gold with anomalous silver. The mineralization in these zones consists of hematite and goethite hosted in strongly to patchy silicified felsic pyroclastic flows. The hole intersected the Carmen structure at the 1825 metre elevation level and returned 3.7 metres of 2.6 g/t gold and anomalous silver. Mineralization consists of mixed sulphide and oxides occurring in veins and patches associated with intense silicification.
MTC-146
Drill hole MTC-146 was collared on section 25 and designed to test the Carmen structure at the 1890 metre elevation level. The hole intersected several mineralized zones in the hanging wall to Carmen including 3.1 metres grading 3.8 g/t gold and 2.0 metres grading 7.9 g/t gold.
MTC-141B
Drill hole MTC-141-B was collared on section 33 and was designed to test the Carmen structure at the 1715 metre elevation level. The hole intersected the Cob structure and returned several mineralized zones, including 3.9 metres grading 3.2 g/t gold and 40.9 g/t silver. The Carmen structure returned only anomalous gold and silver values associated with weak silicification. A hanging wall structure 14 metres above Carmen returned 1.6 metres of anomalous gold and 159 g/t silver with strongly anomalous tungsten, an association not previously observed at Carmen.
MTC-143
Drill hole MTC-143 was collared on section 30 and designed to test the Carmen structure at the 1730 metre elevation level. The hole returned 0.9 metres grading 1.8 g/t gold and low silver.
Veta Minitas
A total of 6 diamond drill holes were completed on the Las Minitas deposit during the current disclosure period. Las Minitas is a satellite deposit to the Carmen deposit and occurs 250 metres to the west. Mineralized structures at Veta Minitas are characterized by closely spaced, narrow vertical faults hosted in felsic pyroclastic tuffs and breccias. Mineralization occurs as hematite and goethite with minor limonite associated with zones of variable silicification. Results for the current period are provided in the table at the end of this release.
Illustrations
Plan View of Carmen Showing Drill Hole Locations: http://media3.marketwire.com/docs/kbr-0126-map1.pdf.
Vertical Section 34 Showing Hole MTC-124A and Cocos Structure: http://media3.marketwire.com/docs/kbr-0126-map2.pdf.
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 Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supports further development and more advanced economic studies at the Monterde deposits. The subsequent discovery of high grade gold-silver mineralization below the mineral resources used in the preliminary economic assessment adds a potentially significant new dimension to the opportunities at Monterde.
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 economic 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 economic 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 herein. 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 in this news release and on its website, such as 'measured', 'indicated', and 'inferred', 'mineral 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:
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Inter- Gold
cept Equiva-
Drill From To (i) Gold Silver lent
Hole Section (m) (m) (m) (g/t) (g/t) (g/t) Structure
----------------------------------------------------------------------------
MTC-139A 29 133.9 135.7 1.8 0.1 54.0 1.0 Unknown
----------------------------------------------------------------------------
and 139.3 142.6 3.3 0.0 50.3 0.9 Unknown
----------------------------------------------------------------------------
and 168.4 169.9 1.5 0.3 46.6 1.1 Unknown
----------------------------------------------------------------------------
and 316.2 320.3 4.1 0.6 42.3 1.3 Unknown
----------------------------------------------------------------------------
and 325.2 326.5 1.3 2.6 82.3 4.0 Unknown
----------------------------------------------------------------------------
and 331.9 339.1 7.2 1.5 56.9 2.5 Unknown
----------------------------------------------------------------------------
including 335.5 339.1 3.6 2.6 96.1 4.2 Unknown
----------------------------------------------------------------------------
and 434.6 436.2 1.6 3.8 3.6 3.8 Cob
----------------------------------------------------------------------------
and 543.9 546.3 2.4 1.2 0.8 1.2 Carmen HW Splay
----------------------------------------------------------------------------
and 568.6 572.3 3.7 2.6 5.5 2.7 Carmen
----------------------------------------------------------------------------
including 568.5 569.7 1.2 6.3 14.9 6.5 Carmen
----------------------------------------------------------------------------
MTC-141B 33 244.6 251.6 7.0 1.1 45.9 1.9 Cob
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including 250.7 251.6 0.9 7.6 66.0 8.7 Cob
----------------------------------------------------------------------------
and 254.2 266.6 12.4 1.2 42.4 1.9 Cob
----------------------------------------------------------------------------
including 259.4 263.3 3.9 3.2 40.9 3.9 Cob
----------------------------------------------------------------------------
and 269.3 273.9 4.6 0.3 41.7 1.0 Cob FW Splay
----------------------------------------------------------------------------
and 299.9 307.5 7.6 0.7 15.7 0.9 Cob FW Splay
----------------------------------------------------------------------------
and 329.0 331.0 2.0 5.0 22.7 5.4 Cob FW Splay
----------------------------------------------------------------------------
and 421.7 422.9 1.2 0.9 4.4 1.0 Hilos HW Splay
----------------------------------------------------------------------------
and 440.4 441.9 1.5 1.1 3.5 1.2 Hilos
----------------------------------------------------------------------------
and 616.5 618.3 1.8 0.0 159.0 2.7 Carmen
----------------------------------------------------------------------------
MTC-142A 34 328.5 331.5 3.0 2.8 49.0 3.6 Cocos HW Splay
----------------------------------------------------------------------------
and 363.0 370.0 7.0 18.3 374.3 24.6 Cocos
----------------------------------------------------------------------------
including 364.7 365.8 1.1 39.6 767.0 52.4 Cocos
----------------------------------------------------------------------------
including 367.0 368.5 1.5 32.5 873.0 47.1 Cocos
----------------------------------------------------------------------------
and 445.0 447.0 2.0 0.5 24.7 0.9 Cob FW Splay
----------------------------------------------------------------------------
and 449.0 450.0 1.0 4.6 12.5 4.8 Cob FW Splay
----------------------------------------------------------------------------
and 530.5 531.5 1.0 3.0 1.2 3.0 Unknown
----------------------------------------------------------------------------
and 571.5 572.3 0.8 5.1 44.5 5.8 Hilos
----------------------------------------------------------------------------
and 577.7 579.0 1.3 6.3 1.3 6.3 Hilos
----------------------------------------------------------------------------
and 615.9 616.7 0.8 2.3 23.6 2.7 Hilos FW Splay
----------------------------------------------------------------------------
and 619.2 620.7 1.5 1.5 4.9 1.6 Hilos FW Splay
----------------------------------------------------------------------------
and 646.6 648.2 1.6 4.5 2.5 4.5 Carmen HW Splay
----------------------------------------------------------------------------
MTC-143 30 135.7 138.9 3.2 0.1 212.0 3.6 Unknown
----------------------------------------------------------------------------
including 135.7 137.3 1.6 0.1 347.0 5.9 Unknown
----------------------------------------------------------------------------
and 156.1 163.3 7.2 0.1 35.9 0.7 Unknown
----------------------------------------------------------------------------
and 462.3 463.5 1.2 0.4 109.0 2.2 Cob
----------------------------------------------------------------------------
and 675.6 676.5 0.9 1.8 1.0 1.8 Carmen HW Splay
----------------------------------------------------------------------------
MTC-146 25 63.3 65.0 1.7 0.1 37.7 0.8 Unknown
----------------------------------------------------------------------------
and 74.0 80.0 6.0 0.2 94.1 1.8 Unknown
----------------------------------------------------------------------------
including 75.5 78.5 3.0 0.3 144.5 2.8 Unknown
----------------------------------------------------------------------------
and 420.3 437.0 16.7 1.1 3.1 1.1 Carmen HW Splay
----------------------------------------------------------------------------
including 420.3 423.4 3.1 3.8 8.0 3.9 Carmen HW Splay
----------------------------------------------------------------------------
and 443.0 445.0 2.0 7.9 1.6 8.0 Carmen HW Splay
----------------------------------------------------------------------------
and 449.0 451.0 2.0 3.5 2.5 3.5 Carmen HW Splay
----------------------------------------------------------------------------
and 457.0 462.5 5.5 0.5 1.6 0.5 Carmen HW Splay
----------------------------------------------------------------------------
MTC-147 33 155.0 160.9 5.9 0.6 37.4 1.2 Unknown
----------------------------------------------------------------------------
including 158.7 159.8 1.1 1.7 171.0 4.6 Unknown
----------------------------------------------------------------------------
and 269.3 270.7 1.4 0.2 104.0 1.9 Unknown
----------------------------------------------------------------------------
and 301.0 307.7 6.7 0.1 50.2 0.9 Cob HW Splay
----------------------------------------------------------------------------
and 322.2 328.0 5.8 0.1 42.8 0.8 Cob HW Splay
----------------------------------------------------------------------------
and 354.0 361.3 7.3 0.7 46.4 1.5 Cob HW Splay
----------------------------------------------------------------------------
including 358.4 360.0 1.6 2.2 50.7 3.0 Cob HW Splay
----------------------------------------------------------------------------
and 365.2 379.3 14.1 1.7 35.2 2.3 Cob
----------------------------------------------------------------------------
including 367.8 368.8 1.0 12.9 52.5 13.7 Cob
----------------------------------------------------------------------------
and 417.8 418.9 1.1 3.6 8.7 3.7 Cob FW Splay
----------------------------------------------------------------------------
and 425.2 426.8 1.6 3.3 11.5 3.5 Cob FW Splay
----------------------------------------------------------------------------
and 475.7 477.5 1.8 9.9 416.0 16.8 Hilos HW Splay
----------------------------------------------------------------------------
and 602.0 610.0 8.0 0.8 3.5 0.9 Carmen
----------------------------------------------------------------------------
including 602.0 603.2 1.2 3.8 13.1 4.0 Carmen
----------------------------------------------------------------------------
and 719.0 720.0 1.0 13.1 12.4 13.3 Carmen FW Splay
----------------------------------------------------------------------------
MTC-148 27 476.7 486.2 9.5 5.2 2.7 5.3 Carmen
----------------------------------------------------------------------------
including 484.4 486.2 1.8 21.1 9.8 21.3 Carmen
----------------------------------------------------------------------------
and 562.3 566.5 4.2 4.0 1.5 4.0 Carmen FW Splay
----------------------------------------------------------------------------
including 565.0 566.5 1.5 9.6 1.3 9.7 Carmen FW Splay
----------------------------------------------------------------------------
MTRD-512 37 265.7 282.4 16.7 0.6 101.1 2.3 Cob HW Splay
----------------------------------------------------------------------------
including 274.9 279.4 4.5 1.7 162.5 4.4 Cob HW Splay
----------------------------------------------------------------------------
and 297.9 311.0 13.1 0.6 18.9 1.0 Cob
----------------------------------------------------------------------------
and 324.3 329.3 5.0 8.6 326.2 14.1 Cob FW Splay
----------------------------------------------------------------------------
including 327.7 329.3 1.6 26.0 998.0 42.6 Cob FW Splay
----------------------------------------------------------------------------
and 431.1 431.8 0.7 1.0 2.6 1.1 Unknown
----------------------------------------------------------------------------
and 878.0 887.5 9.5 0.8 0.6 0.8 Carmen FW Splay
----------------------------------------------------------------------------
(i) True widths are expected to range between 65% and 85% of the intervals
reported on the table above.
(ii) Gold equivalent grade assumes equivalence of 60 grams of silver to one
gram of gold.
Complete table of Veta Minitas drill results:
----------------------------------------------------------------------------
Gold
Intercept Equivalent
Drill From To (i) Gold Silver (ii)
Hole Section (m) (m) (m) (g/t) (g/t) (g/t)
----------------------------------------------------------------------------
LMRD-57 33 24.0 26.0 2.0 0.4 101.0 2.0
----------------------------------------------------------------------------
and 42.0 50.0 8.0 1.0 43.8 1.7
----------------------------------------------------------------------------
including 42.0 44.0 2.0 2.5 60.3 3.5
----------------------------------------------------------------------------
and 230.0 234.5 4.5 0.3 51.2 1.2
----------------------------------------------------------------------------
LMRD-58 35 183.6 187.5 3.9 0.1 41.0 0.8
----------------------------------------------------------------------------
and 199.5 209.3 9.8 0.4 67.9 1.5
----------------------------------------------------------------------------
including 202.8 204.8 2.0 1.3 142.0 3.7
----------------------------------------------------------------------------
and 258.9 261.6 2.7 1.6 85.6 3.0
----------------------------------------------------------------------------
including 260.2 261.6 1.4 2.9 115.0 4.9
----------------------------------------------------------------------------
and 354.7 361.5 6.8 0.4 123.3 2.4
----------------------------------------------------------------------------
including 356.5 358.0 1.5 1.1 298.0 6.1
----------------------------------------------------------------------------
and 392.5 394.0 1.5 3.4 3.4 3.5
----------------------------------------------------------------------------
and 407.0 408.3 1.3 0.4 77.8 1.7
----------------------------------------------------------------------------
LMRD-59 37 357.4 359.5 2.1 2.4 10.9 2.5
----------------------------------------------------------------------------
including 357.4 358.4 1.0 4.5 18.2 4.8
----------------------------------------------------------------------------
LMRD-60 38 348.7 350.0 1.3 1.4 13.9 1.6
----------------------------------------------------------------------------
and 353.3 359.1 5.8 1.8 7.6 1.9
----------------------------------------------------------------------------
including 353.3 354.4 1.1 4.3 6.2 4.4
----------------------------------------------------------------------------
LMRD-61 142.0 156.0 14.0 0.4 77.7 1.7
----------------------------------------------------------------------------
including 148.0 150.0 2.0 1.1 107.0 3.0
----------------------------------------------------------------------------
including 152.0 154.0 2.0 1.4 125.0 3.5
----------------------------------------------------------------------------
and 188.0 196.0 8.0 2.7 113.4 4.6
----------------------------------------------------------------------------
including 190.0 194.0 4.0 4.9 175.0 7.7
----------------------------------------------------------------------------
and 256.0 261.9 5.9 2.7 47.1 3.4
----------------------------------------------------------------------------
and 301.2 304.2 3.0 1.6 29.6 2.1
----------------------------------------------------------------------------
and 322.3 325.5 3.2 2.1 72.9 3.3
----------------------------------------------------------------------------
and 328.6 329.7 1.1 0.5 69.4 1.6
----------------------------------------------------------------------------
and 339.3 340.8 1.5 2.1 48.9 3.0
----------------------------------------------------------------------------
LMRD-74 37 319.7 321.3 1.6 1.2 18.1 1.5
----------------------------------------------------------------------------
and 381.4 382.8 1.4 1.8 9.1 2.0
----------------------------------------------------------------------------
(i) True widths are expected to range between 65% and 85% of the intervals
reported on the table above.
(ii) Gold equivalent grade assumes equivalence of 60 grams of silver to one
gram of gold.
Contacts:
Kimber Resources Inc.
Renee Brickner
Vice President, Investor Relations
(604) 669-2251 or North America Toll Free: 1-866-824-1100
Kimber Resources Inc.
Gordon Cummings, CA
President and CEO
(604) 669-2251 or North America Toll Free: 1-866-824-1100
(604) 669-8577 (FAX)
news@kimberresources.com
www.kimberresources.com