VANCOUVER, Aug. 27 /CNW/ - Kimber Resources Inc. (AMEX: KBX, TSX:KBR)
Kimber Resources confirms that it does not hold any asset-backed
commercial paper. It is the policy of the Company not to invest in asset
backed commercial paper or any investment with significant credit risk.
Kimber's total cash and cash equivalents of approximately C$5.5million
are held in cash and Bankers Acceptances with major Canadian Banks (maturities
of 90 days or less).
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 6300
hectare Pericones property, which is located about 100 kilometres southwest of
Mexico City in Estado de Mexico. All projects are 100% owned and free of
royalties. On the Monterde property, the Company has two principal objectives:
to advance the Carmen deposit to feasibility and to find and develop
additional mineral resources within the Monterde property. The Carmen deposit,
an underground mine in the 1930's and a typical low sulphidation epithermal
system, is oxidized and hosts the majority of the resources on Monterde: 1.356
million gold-equivalent ounces in Measured & Indicated and 0.263 million in
Inferred. Total resources on the Monterde property are 1.515 million
gold-equivalent ounces in Measured & Indicated and 0.422 million in Inferred.
An exploration program directed at additional resources has identified two
drill targets. Until the commencement of the exploration program, less than 5%
of the 28,000 hectare property had been explored by modern methods. The Setago
property covers an epithermal system some 24 kilometres west of Monterde. The
Pericones property contains wide-spread silver mineralization with promising
grades within old workings and elsewhere.
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.
For further information:
For further information: Robert Longe, P.Eng, 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: email@example.com