Kimber Resources Inc. (TSX:KBR)
VANCOUVER, July 19 /CNW/ - Kimber is pleased to report the results of
further drilling on the Carotare exploration target and the Carmen deposit.
Carotare results (including 40 metres of 2.15 g/t gold equivalent) continue to
show potential for a second deposit on the Monterde property. Two holes on the
Carmen deposit provide good widths of open-pit grades.
Carotare
CTR-16 is one of a series of holes which are testing the down-dip
(deeper) portions of the mineralized structure at the discovery location. This
is an important hole because it indicates both an improvement with depth and
some very significant grade-widths, the best of which (40 metres of 2.15 g/t
gold equivalent) would be in the top 15% of holes on the Carmen deposit.
The other two holes (CTR 13 & 14), at a step out of about 200 metres from
the first cluster of drill holes, report modest grade-widths on a structure
that may differ from the structure drilled by the initial holes. Further
drilling will be directed at locating the extension of the first structure to
be drilled.
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Gold
----
Drill Hole From To Interval Gold Silver Equivalent
---------- ---- -- -------- ---- ------ ----------
(m) (m) (m) (g/t) (g/t) (g/t)(x)
CTR-13 Scattered anomalous to 0.8 g/t to 58 metres.
CTR-14 56 62 6 0.672 7 0.75
CTR-16 12 30 18 0.834 23 1.11
and 74 114 40 2.022 11 2.15
and 192 202 10 2.319 18 2.53
(x) Gold-equivalent grades assume equivalence of 85 grams of silver to
1.0 gram of gold.
Carmen Deposit
Aggregate widths of open pit (or better) grades in two of the three holes
reported below are 80 and 78 metres respectively. Both were in-fill holes
drilled near the centre of the Carmen deposit to increase the proportion of
Measured resources and to establish the direction or directions in which
mineralization is continuous. Most of the intersections in these two holes
belong to a large volume of mineralized rock to the east of the main Carmen
structure. Correlation with adjacent holes appears to be very satisfactory.
While an open pit operation remains the principal objective on the Carmen
deposit, some of the higher grade intersections are examples of the kind of
grade-widths which may be suitable for underground mining beneath the
anticipated open pit. Deeper holes will be required to test for such deposits.
Gold
------
Drill Hole From To Interval Gold Silver Equivalent
---------- ---- -- -------- ---- ------ ----------
(m) (m) (m) (g/t) (g/t) (g/t)(x)
MTR-247 Abandoned before target depth due to ground conditions.
MTR-249 44 80 36 0.115 51 0.72
and 92 118 26 1.134 72 1.98
inc 110 116 6 3.419 156 5.26
and 158 162 4 3.830 75 4.71
and 188 192 4 11.380 17 11.58
and 198 202 4 1.061 8 1.15
and 212 218 6 1.480 30 1.84
MTR-251 68 78 10 0.923 100 2.10
and 108 116 8 0.945 76 1.82
and 128 146 18 0.564 82 1.52
and 192 202 10 0.825 20 1.05
and 210 242 32 1.250 53 1.88
(x) Gold-equivalent grades assume equivalence of 85 grams of silver to
1.0 gram of gold.
Resource Estimates
Contrary to initial plans, an interim resource estimate will not be
issued this month. Changes in geologic understanding of the Carmen deposit
have called into question the basis on which work was being done. Completion
of a block-model resource estimate remains a priority. The next estimate will
incorporate the holes (mostly in-fill) drilled on the Carmen since September,
2004 as well as current understandings on controls to mineralization.
Current Activity
Drilling continues with one drill on the Carmen deposit and two (one
reverse circulation, one core drill) on the Carotare exploration target.
Application is being made for permits to drill the recently-announced El Orito
Norte exploration target.
Robert Longe, P.Eng.
President & CEO
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 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 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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