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Kimber Resources returns high grade gold, silver from Monterde

mexico

Kimber Resources (AMEX:KBX) (TSE:KBR) reported Thursday further drill results from its Carmen deposit at its Monterde project in Mexico, with several high grade intercepts returned.

Of the nine holes announced today, five were drilled to upgrade the confidence of shallow mineral resources amenable to open pit extraction, while the remaining holes were drilled to expand and upgrade resources amenable to underground mining.

“We are very pleased with the recent gold-silver assay results from drilling at the Carmen deposit,” said president and CEO Gordon Cummings.

“The four holes drilled by a combination of reverse circulation and diamond drill targeted the Carmen Deep areas and successfully confirmed high grade gold-silver mineralization in multiple structures, with a number of high grade intercepts below the main prior drilling at the Carmen deposit.”

Highlights from the Carmen Deep targets included 4 metres at 3.2 g/t gold and 85.3 g/t silver, and 6.0 metres at 2.2 g/t gold and 47.7 g/t silver in hole MTRD-473, as well as 4.0 metres of 25.1 g/t gold and 13.6 g/t silver.

Meanwhile, notable intersections from the Carmen open pit targets included 32.0 metres at 1.4 g/t gold and 71.4 g/t silver in hole MTR-480, including 6.0 metres at 5.9 g/t gold and 112.9 g/t silver.

With two core rigs and one reverse circulation rig on site, the company expects to complete a substantial amount of drilling over the next eight weeks, with the hopes of signficantly expanding and upgrading the resource at Monterde. A pre-feasibility study for the property is expected this year.

Kimber owns mineral concessions covering in excess of 39,000 hectares in the Sierra Madre gold-silver belt of Mexico, including the Monterde property, where three gold-silver mineral resources have already been defined.

The company’s shares rose more than 4.8% on Thursday to close at $1.29.