Vancouver —
The Monterde property covers numerous mineralized structures, Carmen being the most advanced. Between 1937 and 1943, an underground mine at Carmen produced about 60,000 tonnes averaging 19 grams gold and 310 grams silver per tonne. The cutoff grade was 15 grams gold.
Kimber aims to develop at least 1 million gold-equivalent ounces that can be mined using open-pit techniques. Work to date has outlined a measured resource of 11.2 million tonnes averaging 0.92 gram gold and 75 grams silver, plus an inferred resource of 6.3 million tonnes of 1 gram gold and 74 grams silver. This includes a higher-grade block, estimated at 5.1 million tonnes of 1.75 grams gold and 91 grams silver, in the measured and indicated category.
Recent drilling has focused on the core deposit, North Carmen, the Cocos structure, and the Cob and Los Hilos structures. Most of the results are not yet included in the resource estimates.
Three new holes drilled at Cocos returned intervals similar to those found at Carmen. Results include: 30 metres grading 1.2 grams gold and 32 grams silver; 14 metres of 0.17 gram gold and 72 grams silver; and 8 metres of 2.3 grams gold and 26 grams silver.
Four holes tested the Cob structure and then the Los Hilos structure at depth. Selected intervals from these holes include:
– 6 metres of 1.5 grams gold and 199 grams silver;
– 18 metres of 1.06 grams gold and 42 grams silver;
– 6 metres of 3.7 grams gold and 23 grams silver;
– 20 metres of 1.6 grams gold 16 grams silver;
– 10 metres of 2.4 grams gold and 208 grams silver; and
– and 12 metres of 0.92 gram gold and 104 grams silver.
Three of four holes drilled at North Carmen revealed the limit of economic mineralization toward the north, though the structure is believed to continue to the west-northwest. One hole returned a 28-metre interval of 0.6 gram gold and 89 grams silver.
Several new holes were drilled in the core Carmen deposit to help determine geological features, and to provide material for metallurgical testing. Results from wider intervals include:
– 56 metres of 1.15 grams gold and 20 grams silver;
– 50 metres of 0.9 gram gold and 129 grams silver;
– 40 metres of 1.2 grams gold and 75 grams silver;
– 24 metres of 0.5 gram gold and 82 grams silver; and
– and 10 metres of 2.2 grams gold and 69 grams silver.
Drilling is continuing. One reverse-circulation rig is testing the Cocos structure and various other structures near the Carmen deposit, while another is testing the less-advanced Carotare exploration target.
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