VANCOUVER, May 6 /CNW/ - Kimber Resources Inc. (NYSE AMEX: KBX, TSX:KBR)
is pleased to review recent progress made in respect of its 100% owned
Monterde gold-silver and Pericones silver projects in Mexico.
Monterde Gold-Silver Project
During 2009, Kimber has made considerable progress in refining the
geological models for the three gold-silver deposits at Monterde: Carmen, Veta
Minitas and Carotare, all as part of a complete geological review of the
deposits. Monterde is Kimber's principal project and encompasses more than
29,000 hectares in the prolific Sierra Madre gold-silver belt in Mexico, host
to more than a dozen mines and major gold-silver deposits. The geologic model
includes results from more than 786 drill holes completed to date, in
aggregate more than 170,500 metres of drilling.
During April 2009, Kimber commissioned Micon International of Toronto to
complete a new mineral resource estimate for the Monterde project,
encompassing all three of the Monterde gold-silver deposits, in a single
National Instrument 43-101 compliant technical report. This mineral resource
estimate will take into account the 2008 drilling on Carmen and Veta Minitas,
previous diamond and RC drill holes that were not included in the current
mineral resource estimates, the updated geological models and new models of
the interpreted gold and silver metallurgical recoveries. In addition to the
preparation of mineral resource estimates for the three Monterde deposits
using gold-silver cut-off grades appropriate for possible open pit scenarios,
the higher grade gold-silver mineralization at Carmen will also be modeled on
a gold-equivalent basis. This higher grade gold-silver mineral resource
estimate, more appropriate for underground operations, will also be included
in the technical report.
"The new mineral resource estimate and technical report for the Monterde
project will give us a better picture of the gold-silver mineralization and
geology of the Monterde gold-silver deposit and lay the foundation for future
economic studies," said Gordon Cummings, President & CEO of Kimber. "Kimber's
objective is to have this comprehensive update of the mineral resources at
Monterde and a technical report completed in September 2009."
In tandem with the mineral resource estimates and activities to advance
the existing gold-silver deposits at Monterde, exploration work also continues
with the objective of discovering additional gold-silver deposits at Monterde.
Over the last eight months, Kimber's experienced exploration team has
undertaken a significant mapping and sampling program within a 4km radius of
the Carmen deposit to improve our understanding of the geology of the area and
to identify prospective drill targets. Through this work, a new structure has
been identified to the north of the Carmen deposit with a northwest strike and
near vertical dip. This structure has been traced over 200 metres along strike
but remains open to the southeast where it is covered by overburden. This new
structure is characterized by zones of oxidation with patches of
silicification ranging from 50 cm to 3 metres in width. The first round of
sampling returned values ranging from 26 to 187 g/t silver with no gold. The
structure appears to contain elevated levels of barium, manganese and antimony
associated with the silver, a similar association to that at the Carmen
deposit. Further work is being carried out on this area to assess the
potential for the discovery of additional gold and/or silver mineral
Pericones Silver-Gold Project
The Pericones project is comprised of two contiguous concessions totaling
11,880 hectares located approximately 100 kilometres southwest of Mexico City.
The area has been the subject of mineral exploration since colonial times,
with numerous historic mines and workings on the Pericones property.
Infrastructure is excellent, with two paved roads transecting the concessions,
both with parallel hydro lines, as well as numerous, well maintained gravel
roads connecting local communities. Water is available year-round from streams
and rivers passing through the property.
Four main areas of interest have been identified at Pericones to date:
Plaza de Gallos, El Cirian, Aquacate and Tejamanil. The Plaza de Gallos target
was the primary focus of Kimber's most recent exploration work on the
Pericones property. An adit, approximately 110 metres long with two levels,
excavated in the 1980's, was mapped and sampled by Kimber personnel during the
2008/2009 exploration program. The Plaza de Gallos structure ranges from 1.3
to 3.0 metres in width and silver-gold mineralization occurs throughout the
entire length of the adit. High grade silver is associated with elevated
levels of copper, lead and zinc.
Highlights from the underground sampling at Plaza de Gallos include:
- 1,362 g/t silver and 0.31 g/t gold over 2.3m,
- 307 g/t silver and 0.24 g/t gold over 3.0m,
- 480 g/t silver over 2.9m, and
- 225 g/t silver and 0.60 g/t gold over 1.9m.
The surface trace of the mineralization has been mapped by Kimber
geologists over 900 metres of strike from the adit portal. Five samples
collected from the surface expression of the structure returned values of 171
g/t to 242 g/t silver in chip samples over widths of 1.5 metres. These samples
ranged from 190-160 metres vertically above the mine workings. Kimber is in
the process of finalizing land use agreements at Plaza de Gallos and is
applying for necessary permits. An initial 3,000 metre drill program is
planned at Plaza de Gallos later in 2009.
The El Cirian area is located approximately two kilometres southeast of
Plaza de Gallos. Highlights from the 2008/2009 exploration program are
- 307 g/t silver and 0.18 g/t gold over 3.0m,
- 212 g/t silver and 0.17 g/t gold over 3.0m, and
- 128 g/t silver and 0.48 g/t gold over 3.0m.
The El Aguacate area is located 3 kilometres southeast of El Cirian. A
total of 15 structures and 45 historic mine workings have been identified.
Highlights from the 2008/2009 exploration program are provided below:
- 1,290 g/t silver and 0.12 g/t gold over 1.5m,
- 596 g/t silver and 0.67 g/t gold over 1.5m,
- 345 g/t silver over 1.3m, and
- 324 g/t silver over 1.5m.
For a complete list of samples from the 2008/2009 program at Pericones
please go to the "Properties" tab at our website www.kimberresources.com.
There are still a number of areas at Pericones to review for exploration
potential and geological mapping and sampling is ongoing.
Kimber Resources has built an experienced exploration team and is
actively pursuing exploration opportunities in Mexico to create value for the
shareholders. Kimber is currently reviewing a number of prospective projects
in Mexico and will continue this process to identify projects with the most
attractive exploration potential that could complement the advanced Monterde
project and the early stage but highly prospective Pericones project.
Health and Safety
In accordance with a presidential decree and in support of the Mexican
Government's efforts to contain the H1N1 virus pandemic, Kimber ceased
operations at its Mexican operations from May 1 to May 5, 2009, with normal
operations resuming on May 6, 2009. No cases of the H1N1 virus have been
reported by Kimber's staff or operatives in Mexico.
Kimber owns mineral concessions covering in excess of 39,000 hectares in
the prospective Sierra Madre gold-silver belt, including the Company's
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 is currently undergoing detailed geologic modeling in order to
evaluate the potential for a combined open pit and underground mining
operation based on current mineral resources. In addition, the Company has a
100% interest in the mineral concessions of its Pericones property, an 11,890
hectare property targeted for silver, located approximately 100 kilometres
southwest of Mexico City.
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.
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 and Pericones project sites are carried out under the supervision of
Mr. Mare, who is the designated Qualified Person under National Instrument
43-101 for the Monterde and Pericones projects. Mr. Petrus (Marius) Mare,
Vice-President Exploration, is the designated Qualified Person (Q.P.) for the
Monterde and Pericones projects being responsible for quality control and has
verified the data being disclosed. He has determined that the laboratory
reports matched the surface and adit sample logs and that the quality control
assays fall within reasonable limits. QA/QC procedures incorporate blanks
inserted at the core shack (Monterde and Pericones projects) and standards
inserted after sample preparation (Monterde Project). 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.
registered companies from including in their filings with the SEC. U.S.
Investors are urged to consider closely the disclosure in our Form 20-F which
may be secured from us, or from the SEC's website at
For further information:
For further information: 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: email@example.com