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Exeter Reports High Grade Resource Estimate for Cerro Moro
Exeter Reports High Grade Resource Estimate for Cerro Moro
About this update from Kinross Gold Corporation
[{"type":"text","content":"\nExeter Reports High Grade Resource Estimate for Cerro Moro\n\n\n Jul. 8, 2009 (TheNewswire.ca) -- Vancouver, B. C., July 8, 2009 - Exeter Resource Corporation (AMEX:XRA) (TSXV:XRC) (AMEX:XRA, TSX-V:XRC, Frankfurt: EXB - \"Exeter\" or the \"Company\") is pleased to provide the first National Instrument 43-101 (\"NI 43-101\") compliant mineral resource estimate for its Cerro Moro gold-silver property in Santa Cruz Province, Argentina. The inferred mineral resource estimate totals 646,000 ounces gold equivalent*, at a grade of 18 grams per tonne (\"g/t\") gold equivalent* (0.52 ounces per ton). The resource estimate is significantly impacted by the bonanza grades from the Escondida vein. Escondida contributes 518,000 ounces gold equivalent* at a grade of 34 g/t gold equivalent* (0.99 ounces per ton)(324,000 ounces of gold and 13.6 million ounces of silver).The total Cerro Moro mineral resource estimate of 646,000 ounces gold equivalent comprises 371,000 ounces gold and 19.2 million ounces silver at a grade of 10.5 g/t gold (0.30 ounces per ton (\"oz/ton\")) and 545 g/t silver (15.81 oz/ton). This calculation uses a geological cut-off grade of 2 g/t gold (0.06 oz/ton) for the Escondida vein and 150 g/t silver (4.35 oz/ton) for the Esperanza and Gabriela veins.The independent mineral resource estimate was prepared by Snowden Mining Industry Consultants Limited (\"Snowden\"), in accordance with CIM guidelines (CIM 2005) which have been adopted as part of NI 43-101. Emphasis was placed on the Escondida, Loma Escondida, Esperanza and Gabriela veins which were deemed to have sufficient drill spacing and data quality to estimate inferred mineral resources.Two mineral resource estimates were prepared for the Escondida zone (which included the Loma Escondida zone): (i) a high grade option using a nominal 4 g/t gold (0.12 oz/ton) cut-off in the definition of the mineralization shells, and (ii) a lower grade option using a nominal 2 g/t gold (0.06 oz/ton) cut-off grade. The silver rich Esperanza and Gabriela zones were modelled using a nominal 150 g/t silver (4.35 oz/ton) cut-off in the definition of the mineralization shells, which is broadly equivalent to the 2 g/t gold option for Escondida. Snowden stresses that the cut-off grades used in the definition of the domains are geological in nature and are not economic cut-off grades. Mineral ...