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EXETER REPORTS RESOURCE ESTIMATE OF 19.6 MILLION OUNCES GOLD AND 4.8 BILLION POUNDS COPPER FOR CASPICHE PROJECT IN CHILE
EXETER REPORTS RESOURCE ESTIMATE OF 19.6 MILLION OUNCES GOLD AND 4.8 BILLION POUNDS COPPER FOR CA...
About this update from Kinross Gold Corporation
[{"type":"text","content":"\nEXETER REPORTS RESOURCE ESTIMATE OF 19.6 MILLION OUNCES GOLD AND 4.8 BILLION POUNDS COPPER FOR CASPICHE PROJECT IN CHILE\n\n\n Sep. 14, 2009 (TheNewswire.ca) -- Vancouver, B.C., September 14, 2009 - Exeter Resource Corporation (AMEX:XRA) (TSXV:XRC) (NYSE-AMEX:XRA, TSX-V:XRC, Frankfurt:EXB - \"Exeter\" or the \"Company\") is pleased to provide an updated National Instrument 43-101 compliant inferred mineral resource estimate for its Caspiche Project of 1,117 Mt (million metric tons) at a grade of 0.55 g/t gold (grams per metric ton) and 3.81 g/t silver including 1,017 Mt at a grade of 0.22% copper. This equates to in-situ inferred resources of 19.6 million ounces of gold, 137 million ounces of silver and 4.84 billion pounds of copper (a total of 33.7 million gold equivalent ounces*). The resource estimate uses all data available to the end of the 2008/2009 drilling campaign in May.TABLE 1 Caspiche Inferred Mineral Resource Estimate September 2009.\nMaterial AMECGold Equivalent Cut-off** Million metric tons Gold(g/t) Gold(million ounces) Silver(g/t) Silver(million ounces) Copper(%) Copper(billion pounds) EXETERGold Equivalent(g/t)* EXETER Gold Equivalent(million ounces)* \nOxide 0.2 100 0.50 1.6 2.49 8 0.5 1.7 \nSulphide 0.3 1,017 0.55 18.0 3.94 129 0.22 4.84 0.98 32.0 \nTotals 1,117 0.55 19.6 3.81 137 0.94 33.7 \nTABLE 2 Caspiche Inferred Mineral Resource Estimate September 2009- HIGHER CUT-OFF FOR SULPHIDE MATERIAL.\nMaterial AMECGold Equivalent Cut-off** Million metric tons Gold(g/t) Gold(million ounces) Silver(g/t) Silver(million ounces) Copper(%) Copper(billion pounds) EXETER Gold Equivalent(g/t)* EXETER Gold Equivalent(million ounces)* \nSulphide 0.9 499 0.78 12.5 4.16 67 0.3 3.30 1.35 21.8 \nExeter's Chairman, Yale Simpson, stated \"This updated resource estimate places Caspiche firmly among the world's largest gold-copper discoveries in recent years and clearly supports our decision to aggressively drill the property, despite the global economic decline.\"We expect that the very substantial copper and silver credits will be extremely important, and will markedly impact the potential viability of Caspiche. Specifically, using metal prices of US$2.00/pound copper, US$800/ounce gold and US$12/ounce silver, the 4.84 billion pounds of copper and 137 million ounces of silver are equivalent to 12.1 and 2.0 million ounces of gol...