Kimber updates Carmen resource

Vancouver-based Kimber Resources () has revised its resource estimate for the Carmen deposit on the past-producing Monterde property in Mexico’s Chihuahua state.

In addition to Carmen, a low-sulphidation, epithermal, oxide gold-silver deposit, Monterde hosts several less-advanced targets. Kimber expects to complete a feasibility study for Carmen by early next year.

The new resource estimate is based on the 90 holes drilled by the end of 2003. The combined high-grade and low-grade blocks at Carmen now contain measured and indicated resources totalling 7 million tonnes at 0.82 gram gold and 85 grams silver per tonne, or about 185,579 oz. gold and 19.2 million oz. silver. The deposit also hosts a further 3.4 million tonnes in the inferred category, at 0.99 gram gold and 69 grams silver, or about 108,435 oz. gold and 7.6 million oz. silver.

Of this total, the high-grade blocks contain a measured and indicated resource of 3.4 million tonnes grading 1.47 grams gold and 106 grams silver, or 163,190 oz. gold and 11.7 million oz. silver. A further 1.89 million tonnes grading 1.63 grams gold and 75 grams silver are in the inferred category.

Kimber notes that measured and indicated resources are up by 60% from previous preliminary estimates. Gold and silver grades are lower, however, partly as a result of the incorporation of new low-grade tonnage from the silver zones, and because some deep, gold-rich tonnage is now attributed to the nearby Dome structure, instead of the Carmen structure. Ongoing drilling of the Dome structure is expected to develop additional resources in this area. The structure is believed to extend for 550 metres, though only about 220 metres have been drilled to date.

Drilling is ongoing at the Carmen and Dome Fault structures. Two recent holes on the Dome Fault structure returned:

— 28 metres grading 0.67 gram gold and 97 grams silver, including 10 metres of 1.57 grams gold and 143 grams silver; and

— 74 metres of 0.27 gram gold and 112 grams silver, including 6 metres of 1.1 grams gold and 291 grams silver.

Seven recent holes tested the Carmen structure and returned the following assay results:

— 38 metres of 0.39 gram gold and 102 grams silver;

— 34 metres of 0.47 gram gold and 78 grams silver;

— 16 metres of 0.31 gram gold and 55 grams silver, and 28 metres of 0.52 gram gold and 141 grams silver;

— 22 metres of 0.45 gram gold and 98 grams silver;

— 82 metres of 0.24 gram gold and 103 grams silver;

— 28 metres of 0.22 gram gold and 58 grams silver, and 46 metres of 0.89 gram gold and 64 grams silver;

— 6 metres of 0.14 gram gold and 84 grams silver, and 54 metres of 0.67 gram gold and 76 grams silver.

These holes have not yet been incorporated into any resource calculations.

To bring the Carmen project to the feasibility stage, Kimber plans to drill about 15,000 metres this year. An open-pit operation is envisioned. More metallurgical work is planned, though preliminary work is described as “very encouraging” for both gold and silver.