VANCOUVER, June 28 /CNW/ - Kimber Resources Inc. (AMEX:KBX, TSX:KBR)
Kimber is pleased to announce the completion of an
independently-generated block model resource estimate on the Carmen deposit at
the Monterde Project in Chihuahua, Mexico. The estimate was calculated by
Micon International ("Micon") using the same database as was used for the
polygonal estimate released on April 20, 2006. These estimates incorporate all
holes drilled up to February 15th, 2006. Each of these estimates provides a
very satisfactory cross check on the other. This latest estimate will be used
by Micon to prepare the first pre-feasibility report which is expected in the
third quarter this year.
The following is a summary from the comparison of Estimate "M" and the
block model:
- Gold resources in the Measured and Indicated category increase by 14%
- Silver resources in the Measured and Indicated category decrease by
9%
- Total resources in the Measured and Indicated category on a gold
equivalent basis increase by 4%
- Gold grades in the Measured and Indicated categories decrease by 13%
and silver decrease by 31%, while tonnage in these categories
increases by 31%
The summary table below is as 0.3 g/t gold for comparison with the
polygonal Estimate K.
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Gold
Tonnes Gold Silver Gold Eq Gold Silver Eq (oz)
(millions) (g/t) (g/t) (g/t)(x) (oz) (oz) 75:1
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Measured 21.2 0.87 44 1.45 589,300 29,934,200 988,400
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Indicated 8.7 0.78 23 1.09 217,600 6,416,900 303,200
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Inferred 2.9 0.76 10 0.89 71,700 899,400 83,700
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(x) Gold equivalent assumes equivalence of 75 units of silver to one unit
of gold.
Comment
These results are in line with expectations. Generally a block model will
estimate a larger tonnage with a matching decrease in grade. There is
considerably more smoothing in the block model than in the polygonal estimate
because the kriging process averages assays in all neighbouring holes. Also
the 0.1 g/t shell which is geologically significant and constrains the gold
model is at a lower grade than the reported cut off (0.3 g/t). Therefore there
are more tonnes with a lower grade of gold in the block model than in the
polygonal estimate.
Typically the two methods will report similar quantities of contained
metal in the Measured & Indicated categories. In this case, Measured and
Indicated increased by 4%. It is only the Measured and Indicated that are of
importance for a pre-feasibility or feasibility study. Only Measured and
Indicated resources may be moved to reserves (either Proven or Probable).
Inferred resources cannot be upgraded to reserves. Kimber has concentrated on
moving as much of the resource to Measured and Indicated as possible.
The lower quantity of Inferred resources is expected as the block model
process requires four intercepts within the search area to calculate a block,
while in the polygonal method intercepts can be extrapolated for up to 150
metres along the principal direction. Kimber will continue with its objective
of adding resource ounces (in all categories) but will do so in a manner which
makes Measured & Indicated the priority.
Nature of the Estimate
The estimate was prepared by Gary Giroux, P.Eng. of Micon using ordinary
kriging of 6 x 6 x 6 metre blocks. The estimation of grades was constrained by
models of the mineralized zone created by Kimber staff using geological
information and grade distribution. The mappable boundary to gold distribution
is the 0.1 g/t contour. This was used to constrain gold distribution. A
separate boundary to silver mineralization was created at a grade of 35 g/t.
The proportion of each block within the mineralized zone was estimated as was
the grade of the waste so this should be considered a fully diluted estimate.
The influence of the highest grade samples was limited by capping of gold
and silver grades at 40.3g/t and 1,052 g/t respectively. Nine gold assays were
capped and 12 of silver.
The search ellipsoid for each metal was determined by Giroux using
variogram analysis of the assay data. The maximum ellipsoid radii for
measured, Indicated and Inferred are 37.5, 75, and 150 metres for gold and 25,
50 and 100 metres for silver. Assays were composited into 3.0 metre
composites. At least four composites are required to estimate the grade of a
block.
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 production. The Carmen deposit, an underground
mine in the 1930's, is a typical low sulphidation epithermal system, oxidized,
and believed to be suitable for open pit mining. Two adjacent epithermal
systems first identified in 2005, the Carotare deposit and El Orito Norte
exploration target appear to be similar to the Carmen. The initial resource
estimate on Carotare was reported in November 2005. The goal of the company is
to demonstrate at least three million resource ounces from the two deposits
and exploration target identified. For further information on the company
visit SEDAR or the company website at www.kimberresources.com.
This estimate was prepared by Mr. Gary Giroux, P.Eng of Micon
International based on models of gold and silver mineralization prepared by
Mr. Alan Hitchborn, B.Sc., of Kimber. The solids were broken into separate
geostatistical domains by Mr. Damir Cukor, P. Geo, of Kimber. 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. High-grade gold or silver intervals are
re-assayed by fire assay with gravimetric finish. Mr. Giroux has reviewed the
database and approved its use.
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 fulfill 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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