KIMBER INTERCEPTS 4.9 METRES OF 78.4 g/t GOLD AND 127.9 g/t SILVER BELOW CARMEN GOLD-SILVER DEPOSIT, MONTERDE PROJECT
VANCOUVER, May 31, 2011 /CNW/ --
Second high grade intercept, 100 metres below previous drilling and 100
metres south-east of the high grade intersection in previously reported
hole MTRD-477
VANCOUVER, May 31, 2011 /CNW/ - Kimber Resources Inc. (NYSE Amex:KBX,
TSX:KBR) is pleased to announce the results of two new drill holes from
its ongoing drill program at the Carmen deposit at its Monterde Project
in Mexico. These holes were drilled with the objective of expanding and
upgrading mineral resources potentially amenable to underground
extraction ('Carmen Deep' target). Drill hole MTRD-476 was collared on
section 30 and was designed to intersect the Carmen structure at a
vertical depth of 425m below surface, in an area never previously
tested by drilling. This hole intersected high grade mineralization
averaging 78.4 g/t gold and 127.9 g/t silver over 4.9 metres, including
1.5 metres of 152.5 g/t gold and 282 g/t silver. This important new
intercept is hosted within a semi-massive to massive-sulphide breccia
between 565.5 and 570.4 metres down hole and is interpreted to
correlate with the downward projection of the Carmen structure.
Assay results from holes MTRD-475 and 476 are tabulated below:
_____________________________________________________________________
| | |From | To |Intercept*|Gold |Silver| Gold |
| Drill hole |Section| (m) | (m) | (m) |(g/t)|(g/t) |equivalent**|
| | | | | | | | (g/t) |
|____________|_______|_____|_____|__________|_____|______|____________|
|MTRD-475 | 41| 38.0| 48.0| 10.0| 0.2| 55.3| 1.1|
|____________|_______|_____|_____|__________|_____|______|____________|
|and | |273.0|276.0| 3.0| 1.3| 1.4| 1.4|
|____________|_______|_____|_____|__________|_____|______|____________|
|MTRD-476 | 30|328.0|330.0| 2.0| 3.1| 91.4| 4.6|
|____________|_______|_____|_____|__________|_____|______|____________|
|and | |376.3|377.6| 1.3| 2.9| 1.1| 3.0|
|____________|_______|_____|_____|__________|_____|______|____________|
|and | |560.3|561.8| 1.5| 8.1| 3.4| 8.1|
|____________|_______|_____|_____|__________|_____|______|____________|
|and | |565.5|570.4| 4.9| 78.4| 127.9| 80.5|
|____________|_______|_____|_____|__________|_____|______|____________|
|including***| |565.5|566.6| 1.1| 11.1| 15.8| 11.4|
|____________|_______|_____|_____|__________|_____|______|____________|
|including***| |566.6|568.1| 1.5| 64.1| 49.4| 64.9|
|____________|_______|_____|_____|__________|_____|______|____________|
|including***| |568.1|569.6| 1.5|152.5| 282.0| 157.2|
|____________|_______|_____|_____|__________|_____|______|____________|
|including***| |569.6|570.4| 0.8| 63.2| 150.0| 65.7|
|____________|_______|_____|_____|__________|_____|______|____________|
* True widths are expected to range between 65% and 85% of the intervals
reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one
gram of gold.
*** Gold grade confirmed by 1kg screened fire assay.
'The latest intercept of 4.9 metres of 78.4 g/t gold and 127.9 g/t
silver from hole MTRD-476 is an outstanding result and potentially very
significant for the future of the Monterde project,' said Gordon
Cummings, President and CEO of Kimber Resources. 'This high grade
gold-silver mineralization was intersected in the Carmen structure over
100 metres deeper than any prior drilling and the massive-sulphide
breccia is indicative of a different and potentially significant style
of mineralization,' he said. 'The extremely high grade gold-silver
intercept of hole MTRD-476 and results of previously reported hole
MTRD-477 indicate potential for a significant expansion of high grade
gold-silver mineral resources in Carmen Deep areas, below the existing
mineral resources, in sulphide-rich veins. New drill holes are being
planned to test the extent of this high grade gold-silver
mineralization.' As previously reported on May 26, 2011, drill hole
MTRD-477 had multiple intercepts, including 5.2 metres of 51.9 g/t gold
plus 1,076.7 g/t silver, 2.0 metres of 25.2 g/t gold and 725 g/t
silver, 0.9 metres of 44.5 g/t gold and 38.2 g/t silver and 1.2 metres
of 28.2 g/t gold and 26.0 g/t silver.
Description of Mineralization
The mineralization intercepted between 565.5 and 570.4 metres down hole
in hole MTRD-476 consists of coarse-grained sphalerite and galena
associated with pyrite and silicification, with moderate hematite and
limonite. The high grade sulphide zone in hole MTRD-476 is located
approximately 100 metres below and 100 metres south-east of the
massive-sulphide intersection in hole MTRD-477. Brecciated veins of
massive-sulphide were observed in drill hole MTRD-477, however, the
massive-sulphide breccia in hole MTRD-476 is a new style of
mineralization for the Carmen deposit. Exploration is ongoing with
further drilling planned on sections 30 and 31 designed to test the
sulphide breccia along strike and down dip. The drill results from
holes MTRD-476 and MTRD-477 demonstrate the excellent potential for
high grade mineralization at depth at Carmen.
Sulphide-rich precious metals systems are an important source of gold
production and include a number of operating mines across the world,
including notable examples in Mexico and in Peru. In the Sierra Madre
epithermal precious metal belt of northwest Mexico, high grade
gold-silver mineralization has been encountered in several deposits and
mines at the transition between the Upper and Lower Volcanic series and
is commonly accompanied by increased base metal grades. This
transition from the Upper to the Lower Volcanic series at Monterde lies
below the existing Carmen underground workings, an area not previously
tested by drilling. The results reported above are consistent with
this pattern of vertical metal zoning and suggest potential for the
definition of a zone of high grade gold-silver mineralization below the
Carmen deposit, and initial exploration results to date clearly warrant
additional drilling to evaluate this potential.
Images
A plan view of the location of the drill collars of each hole, a
vertical section of hole MTRD-476 showing a selection of intercepts
detailed in the table above and a photograph of the drill core from
566.35 metres to 570.05 metres down hole of MTRD-476 are available via
the following links:
Plan View Map - http://files.newswire.ca/969/El_Carmen.gif
Vertical Section Showing Drill Hole MTRD-476 - http://files.newswire.ca/969/PR-MTRD-476.gif
Photograph of segments of Core from Drill Hole MTRD-476 - http://files.newswire.ca/969/mtrd-476-v2.bmp
Hole MTRD 475 intersected the Hilos structure at 273 metres to 276
metres down hole with 1.3 g/t gold and 1.4 g/t silver. The Carmen
structure was intersected between 401 metres and 406 metres down hole
with elevated levels of gold and silver but not with significant grade.
The drilling of the Carmen Deep targets utilizes a combination of
reverse circulation drilling at the top of the hole and diamond
drilling in the lower part of the hole to improve the quality of
geologic information. All drill holes are surveyed for down-hole
deviation. Additional drilling is underway in the Carmen Deep target
area.
About Kimber
Kimber owns mineral concessions covering in excess of 39,000 hectares in
the prospective Sierra Madre gold-silver belt, including the Monterde
property, where three gold-silver mineral resources have already been
defined. The most advanced of these, the Carmen deposit, has been
extensively drilled and has undergone detailed geologic modeling. The
completion of the Preliminary Assessment for Monterde in 2010
represented a significant step forward for Kimber and is expected to
lead to further development and more advanced economic studies at the
Monterde deposits including the completion of a pre-feasibility study
during 2011.
Forward looking statements
Statements in this release may be viewed as forward-looking statements,
including statements regarding estimates of mineral resources at
Monterde, the preliminary assessment of the Monterde project, the
conversion of inferred mineral resources to measured and indicated
mineral resources, the conversion of mineral resources to mineral
reserves, life of mine estimates, the potential for gold and silver
mineral resources in the Carmen and Veta Minitas deposits and other
targets within the Monterde project, the further development, expected
results and future economic assessments of the Monterde project. When
used in this press release, the words 'expect', 'intend', 'hopes',
'should', 'believe', 'may', 'will', 'if', 'anticipates', 'potential
for', 'potentially', 'suggests' and similar expressions are intended to
identify forward-looking statements. Such statements involve risks and
uncertainties that could cause actual results to differ materially from
those projected. Such risks and uncertainties include, among others,
uncertainty of mineral reserve and resource estimates, risks relating
to fluctuations in the price of gold, the inherently hazardous nature
of mining-related activities, potential effects on Kimber's operations
of environmental regulations in the countries in which it operates,
risks due to legal proceedings, risks relating to political and
economic instability in certain countries in which it operates, risks
related to the use of inferred mineral resources in the preliminary
assessment, and uncertainty of being able to raise capital on
favourable terms or at all, as well as those risk factors discussed
under the headings 'Cautionary Note Regarding Forward-Looking
Statements' and 'Risk Factors' in Kimber's latest Annual Report on Form
20-F as recently filed on SEDAR and EDGAR. There are no assurances the
Company can fulfil such forward-looking statements and the Company
undertakes no obligation to update such statements, except as required
by law. 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.
The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed by Mr. Petrus (Marius) Mare P.Geo.,
Vice-President Exploration of the Company. The exploration activities
at the Monterde project site are carried out under the supervision of
Mr. Mare, who is the designated Qualified Person under National
Instrument 43-101 for the Monterde project. Mr. Petrus (Marius) Mare,
Vice-President Exploration, is the designated Qualified Person (Q.P.)
for the Monterde project being 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 and standards
inserted after sample preparation. Sample preparation was done by ALS
Chemex at its Chihuahua laboratory. Pulps are analyzed 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.
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce. Kimber Resources uses
certain terms on its website (and certain press releases), such as
'measured,' 'indicated,' and 'inferred,' 'resources,' which the SEC
guidelines strictly prohibit U.S. companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely the
disclosure under the heading 'Cautionary Note to U.S. Investors
Regarding Mineral Reserve and Resource Estimates' in our latest annual
report on Form 20-F which may be secured from us, or from the SEC's
website at http://www.sec.gov/edgar.shtml.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2011/31/c9053.html
Matthew Hamilton
Manager of Investor Relations
or
Gordon Cummings, CA
President and CEO
North America Toll Free: 1-866-824-1100
Tel: (604) 669-2251
Fax: (604) 669-8577
Website: http://www.kimberresources.com
Email: news@kimberresources.com