VANCOUVER, March 12 /CNW/ - Kimber Resources Inc. (AMEX:KBX, TSX:KBR)
Drill Results
Further drill results from Kimber's 100% owned Monterde project in Chihuahua, Mexico are included below. The results include assays from core holes at Carotare (CTC), El Orito Norte (EOC), Veta Minitas (LOC), and Carmen (MTC) as well as reverse circulation (RC) drilling from Carotare (CTR), El Orito Norte (EOR), and Veta Minitas (LMR).
The results include many core holes which were drilled to provide metallurgical samples and geologic data on mineralized zones at Carmen and Carotare. Drilling at Carotare also targeted the south structure at Carotare East as well as determining potential limits to the eastern end of the main structure. CTC - 11 at Carotare intersected four metres averaging 7.25 g/t AuEq, confirming the presence of mineralization at depth on the main Carotare zone. Drilling at Veta Minitas was designed to provide better definition of high grade structures at depth. This data will be incorporated into modeling of the deposit.
Highlights from these most recent holes are set out below, while complete results are attached.
Carotare CTR - 64 12 metres of 5.51 g/t AuEq
Veta Minitas LMC - 04 20 metres of 3.22 g/t AuEq
Carmen MTC - 90 28 metres of 4.48 g/t AuEq
MTC - 88 22 metres of 4.34 g/t AuEq
including 4 metres of 11.05 g/t AuEq
MTC - 86 22 metres of 3.91 g/t AuEq
including 6 metres of 11.13 g/t AuEq
MTC - 97 44 metres of 1.92 g/t AuEq
Gold equivalent grade assumes equivalence of 75 grams of silver to one gram of gold.
True widths on Carmen and Carotare are expected to range between 65% and 85% of the intervals reported on the table above. All samples are prepared and analyzed by ALS Chemex.
Appointment of New Director
The Company is pleased to report that Mr. Peter Nixon has been apppointed to the Board of Directors. Mr. Nixon brings over 30 years of experience in research and institutional equity sales, largely focused on the mining industry. In 1989, Mr. Nixon helped found Goepel Shields & Partners, a Toronto based independent investment firm and subsequently was appointed President of its U.S. subsidiary. Mr. Nixon is also a director of Miramar Mining Corporation, Dundee Precious Metals, Reunion Gold Corporation and Stornoway Diamond Corporation. The Board granted 50,000 options to Mr. Nixon with an exercise price equal to the TSX closing price on February 28th, 2007.
Monthly Newsletter
Beginning this month, the Company's monthly newsletter will be replaced by corporate updates included in news releases as required.
Quality Assurance
Mr. Antonio Aguilar, Project Manager, managed this program of drilling 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 being 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 Chihuahua, Mexico. Pulps are analysed by ALS Chemex at its laboratory in North Vancouver, British Columbia, using 50 gram sub-samples, using fire assay with an AA finish for gold and four-acid digestion and ICP finish for silver from a 0.4 gram subsample. High grade gold or silver intervals are re-assayed by fire assay with gravimetric finish.
About Kimber
Kimber Resources Inc. holds a 100% interest in the Monterde and Setago properties (located in the Sierra Madre of northern Mexico), as well as the 6,300 hectare Pericones property, which is located about 100 kilometres southwest of Mexico City in Estado de Mexico. All projects are free of royalties. On the Monterde property, the Company has two principal objectives: to advance the Carmen deposit to feasibility and to find and define additional mineral resources. The Carmen deposit, an underground mine in the 1930's, is a typical low sulphidation epithermal system, is oxidized and hosts the majority of the resources on Monterde. As at the data cutoff (February 15, 2006) for the most recent resource estimate total mineral resources from three deposits at Monterde are 23.6 million tonnes containing 648,000 oz of gold and 33 million oz of silver in Measured, 9.9 million tonnes containing 250,000 oz of gold and 8 million oz of silver in Indicated, and 7.1 million tonnes containing 180,000 oz of gold and 5 million oz of silver in the Inferred category. Approximately 120 holes have been drilled at Monterde since this estimate was released. A target generation program directed at identifying additional epithermal systems is underway on the property. Less than 5% of the 28,000 hectare property has been explored by modern methods. The recently announced Pericones property contains wide-spread silver mineralization. First pass sample results reported up to 420 g/t Ag from two-metre chip samples from both surface and underground.
Cautionary Statement
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.
Detailed Drill Results from Kimber's Monterde Property
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(To accompany news release dated March 12, 2007)
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Drill Hole From To Interval Gold Silver Au Eq
---------- ---- -- -------- ---- ------ -----
(m) (m) (m) (g/t) (g/t) (g/t)(1)
Carotare Core
CTC- 08 scattered low-grade values(3)
CTC- 09 scattered anomalous values(2)
CTC- 10 14 24 10 2.145 11 2.30
And 152 156 4 1.909 5 1.97
CTC- 11 54 62 8 0.757 43 1.32
And 74 78 4 0.910 57 1.67
And 98 106 8 0.571 18 0.81
And 220 242 22 1.670 2 1.70
And 248 252 4 2.482 358 7.25
CTC- 12 50 58 8 0.793 78 1.83
CTC- 13 98 114 16 0.948 56 1.70
And 158 162 4 2.929 5 3.00
CTC- 14 scattered low-grade values(3)
CTC- 15 scattered low-grade values(3)
CTC- 16 scattered low-grade values(3)
CTC- 17 76 86 10 1.478 16 1.69
Carotare RC
CTR- 59 scattered low-grade values(3)
CTR- 62 162 170 8 0.782 3 0.83
CTR- 63 74 88 14 0.890 15 1.09
CTR- 64 52 58 6 0.212 78 1.25
and 74 86 12 0.135 403 5.51
CTR- 65 scattered low-grade values(3)
CTR- 67 110 122 12 0.893 9 1.01
CTR- 68 116 144 28 2.001 3 2.04
El Orito Norte Core
EOC- 01 168 180 12 0.005 75 1.00
El Orito Norte RC
EOR- 14 scattered low-grade values(3)
Veta Minitas Core
LMC- 03 130 136 6 2.218 247 5.52
and 140 152 12 0.093 102 1.45
and 172 180 8 0.072 68 0.98
and 196 220 24 0.065 90 1.27
LMC- 04 96 102 6 0.279 66 1.15
and 114 126 12 0.371 72 1.33
and 164 184 20 1.145 156 3.22
Veta Minitas RC
LMR- 49 84 104 20 0.439 58 1.21
and 234 250 16 0.143 45 0.75
and 262 270 8 1.572 30 1.97
hole ended in mineralization
LMR- 51 scattered anomalous values(2)
LMR- 52 scattered low-grade values(3)
LMR- 54 scattered anomalous values(2)
LMR- 55 scattered low-grade values(3)
LMR- 56 scattered low-grade values(3)
Carmen Core
MTC- 43 120 134 14 0.789 57 1.55
and 242 246 4 8.784 70 9.71
MTC- 44 92 96 4 3.257 80 4.32
MTC- 47 66 82 16 0.509 52 1.20
and 92 118 26 0.272 76 1.29
incl 110 114 4 0.703 207 3.46
and 124 128 4 0.720 118 2.29
and 172 176 4 3.444 45 4.04
MTC- 59 6.1 14 7.9 0.051 58 0.82
and 84 96 12 0.668 60 1.46
MTC- 63 scattered low-grade values(3)
MTC- 72 scattered low-grade values(3)
MTC- 73 98 128 30 0.617 108 2.05
MTC- 76 36 50 14 0.379 50 1.04
and 68 80 12 0.056 54 0.78
and 94 100 6 2.591 56 3.33
and 142 146 4 1.563 43 2.14
and 228 232 4 1.318 57 2.08
and 292 302 10 4.659 99 5.98
MTC- 77 66 76 10 0.097 47 0.73
and 292 296 4 4.296 127 5.98
and 302 322 20 2.253 40 2.79
incl 306 310 4 4.280 140 6.14
and 334 338 4 1.311 50 1.98
MTC- 79 200 234 34 0.629 111 2.11
incl 202 208 6 1.958 176 4.31
and 246 258 12 0.857 44 1.44
and 304 312 8 0.790 18 1.03
MTC- 80 198 206 8 0.862 2 0.88
and 308 312 4 5.115 77 6.14
MTC- 81 124 158 34 0.362 68 1.27
incl 134 138 4 1.430 94 2.68
and 164 176 12 1.337 74 2.32
and 290 294 4 5.780 191 8.33
MTC- 82 196 208 12 0.181 76 1.20
and 214 234 20 1.093 64 1.94
and 244 254 10 0.114 48 0.76
and 276 292 16 0.617 13 0.79
MTC- 83 192 228 36 0.563 51 1.24
and 288 292 4 0.414 110 1.88
MTC- 85 158 162 4 9.414 76 10.42
and 196 206 10 0.748 31 1.16
and 226 230 4 1.358 38 1.86
MTC- 86 200 222 22 2.920 75 3.91
incl 214 220 6 9.303 137 11.13
and 230 240 10 0.179 76 1.19
MTC- 87 142 148 6 0.240 75 1.24
and 190 194 4 1.268 31 1.68
MTC- 88 14 36 22 0.635 278 4.34
incl 22 26 4 2.985 605 11.05
MTC- 89 92 112 20 0.651 73 1.62
and 102 108 6 1.914 110 3.38
and 172 184 12 2.236 48 2.88
MTC- 90 16 28 12 0.805 84 1.92
and 34 62 28 0.480 300 4.48
incl 40 44 4 1.256 79 2.30
incl 58 62 4 1.178 94 2.43
MTC- 91 scattered anomalous values(2)
hole ended in mineralization
MTC- 93 scattered low-grade values(3)
MTC- 94 22 28 6 1.411 68 2.32
and 38 42 4 0.728 83 1.83
and 194 198 4 1.520 5 1.58
and 210 220 10 1.607 20 1.88
MTC- 95 scattered anomalous values(2)
MTC- 96 218 226 8 2.922 4 2.97
MTC- 97 22 30 8 0.516 48 1.16
and 60 104 44 1.080 63 1.92
incl 88 94 6 7.210 162 9.37
MTC- 98 40 50 10 0.360 86 1.51
and 198 210 12 1.039 24 1.36
and 218 222 4 1.918 45 2.51
MTC- 99 150 156 6 1.886 83 2.99
and 166 176 10 1.269 90 2.46
incl 172 176 4 2.803 156 4.88
MTC-100 scattered low-grade values(3)
MTC-101 24 32 8 0.237 93 1.47
MTC-102 40 54 14 0.310 37 0.80
and 102 110 8 0.149 47 0.77
and 122 146 24 0.304 66 1.18
incl 124 128 4 1.323 70 2.25
MTC-103 36 64 28 0.133 46 0.74
(1) Gold equivalent grade assumes equivalence of 75 grams of silver to
one gram of gold
(2) "Scattered anomalous values" applies to grades which, while,
indicative of mineralization, are not likely to be economic.
(3) "Scattered low-grade values" applies to intercepts which could be
economic but which amount to less than 6.0 gram metres.