VANCOUVER, Jan. 17 /CNW/ - Kimber Resources Inc. (AMEX:KBX, TSX:KBR)
January Drill Program
Following the Christmas break, drilling on the Monterde property
recommenced January 9th. There are currently two reverse circulations rigs on
site, each operating two shifts per day. The drills are currently stationed on
the Carmen deposit, where infill drilling is being directed to upgrade
resources. Step out holes are being drilled to increase density where drilling
is sparse and to probe for limits to the deposit.
The Company expects to move drills back into the Carotare deposit and
El Orito Norte as soon as possible. Delays in drilling these targets have been
due to access problems. Some blasting will be required to build drill roads on
both these targets. Permits are in place and the necessary equipment is being
arranged.
Carmen Deposit Drilling
Further drill results on the Carmen deposit are shown in the table below.
The MTC holes (core drilling on the Carmen deposit) were drilled for
metallurgical and geology purposes.
The MTR holes (reverse circulation) listed below include both infill and
step out. Some of the latter demonstrate good widths and extend the
mineralisation to the south beyond the limits of the former underground mine.
The deposit remains open in this direction as well as to the east and
southeast.
El Orito Norte Drilling
The first two holes (EOR 06 & 07) of what will be a substantial drill
program on the El Orito Norte did not intersect significant grades.
(EOR 01-05, drilled on El Orito Sur in 2003 and 2004 directed the geology team
to recognition of El Orito Norte in 2005.) Unlike the Carotare target where we
were fortunate in being able to identify a significantly mineralized structure
on the basis of old pits and shallow shafts, identification of the key
structures on El Orito Norte may take longer. This target, located between the
Carmen deposit and the Carotare deposit has the largest surface area of the
three and has similar surface expression.
<<
Gold
Drill Hole From To Interval Gold Silver Equivalent
---------- ---- -- -------- ---- ------ ----------
(m) (m) (m) (g/t) (g/t) (g/t)(x)
EOR- 06 No significant intercepts
EOR- 07 Scattered anomalous
MTC- 20 14 26 12 0.444 196 2.75
14 18 4 0.971 473 6.53
114 128 14 0.605 74 1.48
174 178 4 0.893 63 1.63
MTC- 21 64 70 6 0.713 95 1.83
142 152 10 2.125 171 4.14
164 174 10 1.998 75 2.88
MTC- 22 6.35 16 9.65 0.438 60 1.15
86 92 6 1.934 69 2.75
116 124 8 1.253 58 1.93
222 226 4 13.095 456 18.46
254 266 12 0.569 38 1.02
258 264 6 0.473 68 1.27
272 276 4 1.117 106 2.36
MTC- 23 76 90 14 0.834 120 2.25
100 106 6 0.405 89 1.45
138 154 16 0.865 49 1.44
148 152 4 2.310 96 3.44
192 196 4 0.837 65 1.60
256 264 8 1.544 23 1.81
MTR-286 174 178 4 1.377 19 1.60
MTR-287 Scattered anomalous
MTR-288 150 154 4 0.057 39 0.51
208 212 4 1.211 20 1.44
MTR-289 6 20 14 0.106 46 0.65
MTR-290 98 130 32 0.150 50 0.73
MTR-291 24 38 14 0.127 50 0.72
MTR-292 104 112 8 0.758 49 1.33
230 238 8 1.723 125 3.19
MTR-293 32 36 4 0.126 53 0.75
MTR-294 22 32 10 0.390 78 1.31
MTR-295 2 20 18 0.266 87 1.28
138 152 14 1.250 37 1.68
MTR-296 110 114 4 0.611 321 4.39
168 186 18 0.862 51 1.46
MTR-297 88 96 8 0.072 47 0.62
106 116 10 0.383 55 1.03
186 194 8 0.586 37 1.02
258 272 14 1.211 35 1.63
(x) Gold equivalent grade assumes equivalence of 85 grams of silver to
one gram of gold.
True widths are expected to range between 65% and 85% of the intervals
reported in the table above.
Pre-feasibility Study
The drill data up to August 18, 2005 including drill sections, bench
plans, and mineralization boundaries ("solid models" for both gold and silver)
have been delivered to the independent engineering company engaged to carry
out block models and the pre-feasibility study. The pre-feasibility study,
which is expected by the end of April, will be an important milestone in the
advance of the Monterde project towards production.
Resource Estimate
The next resource estimate to be reported on the Carmen deposit will be
the block model referred to above. It will be based on the same database as
Estimate "L" which included drilling on Carmen to August 18, 2005 and will
allow comparison between polygonal and block model methods. Work has begun on
a resource estimate which will incorporate more recent drilling. (By
December 31, 2005 a further 76 holes had been drilled.)
Mineral Exploration Roundup Conference
Kimber will be exhibiting at the Mineral Exploration Roundup Conference
in Vancouver January 23-24. We invite all those interested in the Kimber story
to stop by our booth, B88, to meet members of the Kimber team.
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. A pre-feasibility study is
expected on the Carmen deposit in April 2006. 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.
Cautionary Statement
Mr. Alan Hitchborn, B.Sc., Vice President Development, manages the field
program of drilling and trenching on the Monterde project. Mr. J.B. Richards,
P.Eng., Vice President Engineering, and designated Qualified Person (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 0.4 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 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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