Kimber Resources Inc. (TSX:KBR)
VANCOUVER, Nov. 8 /CNW/ - Kimber is pleased to deliver a resource
estimate based on the first 28 holes drilled on the Carotare deposit. This is
a milestone for the Company as the estimate represents the first mineral
resource reported on Carotare since its discovery in April 2005. A resource
estimate on a deposit some two kilometres from the Carmen deposit is a major
step towards Kimber's goal of demonstrating a multi-million ounce resource at
Monterde.
The estimate was prepared under the supervision of External Qualified
Person, Mr. A.A. Burgoyne, P.Eng. of Burgoyne Geological Inc. As shown in the
table below, the Carotare estimate outlines a Measured & Indicated resource of
101,000 gold equivalent ounces and an Inferred resource of 139,000 gold
equivalent ounces.
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Carotare Deposit Estimate "A"
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Tonnes Gold Silver Gold Eq.(x) Gold, Silver, Gold Eq.(x)
(g/t) (g/t) (g/t) ounces ounces ounces
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Measured 1,680,000 0.81 29 1.16 44,000 1,580,000 62,600
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Indicated 1,020,000 0.83 29 1.17 26,900 945,000 38,400
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Measured &
Indicated 2,700,000 0.82 29 1.16 70,900 2,525,000 101,000
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Inferred 3,780,000 0.85 25 1.14 103,000 2,990,000 139,000
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(x) Gold-equivalent assumes equivalence of 85 units of silver to one unit
of gold.
The Carotare, which can now be described as a "mineral deposit" instead
of an "exploration target", is but one of three adjacent epithermal systems.
The Carotare, El Orito Norte, and Carmen form a belt of mineralization and
alteration over three kilometres long. The Carmen deposit occupies less than
one third of this altered zone. The type of mineralization on the Carotare
(epithermal, oxide), the structural control, gold grades, and widths are
similar to the Carmen deposit.
Alan Hitchborn, Vice President of Development comments that "Carotare has
a surface expression larger than Carmen and this resource estimate from the
first 28 holes represents only a fraction of the drilling that is planned.
Additionally, El Orito Norte located between Carmen and Carotare is even
larger with a very similar geologic system. Drilling there is expected to
commence this month. Combined, Carotare and El Orito have the potential to
greatly add to the total resources on the Monterde property."
This new estimate brings total resources on Monterde property to
1,120,000 gold-equivalent ounces in the Measured and Indicated categories with
499,000 in Inferred.
Robert Longe, P.Eng.
President & CEO
About Kimber
Kimber Resources Inc., which holds a 100% interest in the Monterde
property in the Sierra Madre of northern Mexico, is advancing the Carmen
gold-silver deposit towards feasibility, while drilling neighbouring
epithermal systems for additional resources. The Carmen deposit, an
underground mine in the 1930's, is a typical epithermal system: low
sulphidation, oxidized, and believed to be suitable for open pit mining. The
adjacent epithermal systems now being drilled, appear to be similar. For more
information on the company please visit SEDAR or our website at
www.kimberresources.com.
This estimate was prepared by Mr. Damir Cukor, P. Geo, Mr. Alan
Hitchborn, B.Sc,. and. Mr. J.B. Richards, P.Eng, internal QP, and was vetted
by Mr. Al. Burgoyne, P.Eng, M.Sc. in his capacity as independent QP. The drill
program which generated the data used was managed by Mr. Alan Hitchborn. Mr.
J.B. Richards, P.Eng., Vice President Engineering, and designated Q.P. for the
project is responsible for quality control and has verified the data
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 site
and standards inserted after sample preparation. Drilling is by reverse
circulation. A one eighth split of each two-metre section of the drill hole,
weighing approximately 6 kg is processed by ALS Chemex at its preparation
laboratory in Hermosillo, Mexico. Pulps are analysed by ALS Chemex at its
laboratory in North Vancouver, British Columbia, using 50 gram subsamples,
fire assay with an AA finish for gold and four-acid digestion and ICP finish
for silver from a 1.0 gram subsample. Highgrade gold or silver intervals are
re-assayed by fire assay with gravimetric finish.
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.
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