Shares of Kimber Resources (KBR-T, KBX-X) jumped 9.2% or 15¢ to $1.78 today following news of the latest two assay results from the Carmen deposit at its Monterde project in Mexico.
Drill hole 476 returned 4.9 metres of 78.4 grams gold per tonne and 127.9 grams silver, including 1.5 metres of 152.5 grams gold and 282 grams silver.
The intercept was hosted within a semi-massive to massive-sulphide breccia between 565.5 and 570.4 metres down hole. “This high grade gold-silver mineralization was intersected in the Carmen structure over 100 metres deeper than any prior drilling and the massive-sulphide breccia is indicative of a different and potentially significant style of mineralization,” Gordon Cummings, the company’s president and chief executive, said in a statement.
The high-grade sulphide zone in hole 476 is about 100 metres below and 100 metres southeast of the massive sulphide intersection revealed last week in hole 477. On May 26, the company reported assay results from eight drill holes including hole 477, which returned one of the best high-grade gold-silver drill intercepts the company has ever recorded at Monterde.
Hole 477 returned 5.2 metres of 51.9 grams gold and 1,076.7 grams silver from the Hilos structure within the Carmen deposit. The intercept contained visible gold and also included 1.3 metres of 188.5 grams gold and 3,770 grams silver.
“Two additional intercepts (0.9 metres of 44.5 grams gold and 38.2 grams silver and 1.2 metres of 28.2 grams gold and 26 grams silver) are interpreted to have come from the main Carmen structure, 40 metres below previous drilling, and are associated with strong sulphide veining,” Cummings noted. “These high-grade intercepts are very positive and indicate potential to expand high grade gold-silver mineral resources in Carmen Deep areas.”
The company is using reverse circulation drilling at the top of each hole and diamond drilling in the lower part of each hole to improve productivity and cut costs, it says.
Other assay results over the last week included 10 metres of 0.2 gram gold and 55.3 grams silver in hole 475; and in hole 483, 6 metres of 0.2 gram gold and 35.3 grams silver and 6 metres of 0.4 gram gold and 108.2 grams silver including 2 metres of 0.8 gram gold and 200 grams silver and 10 metres of 0.4 gram gold and 73.3 grams silver.
A prefeasibility study is expected before the end of the year.
The Monterde project is in northern Mexico’s Sierra Madre gold-silver belt, about 360 km from Chihuahua City. The three principal areas of Monterde are Carmen, Veta Minitas and Carotare.
Over the last 52 weeks the junior has traded in a range of 65¢ (July 27 2010) and a high of $2.07 (April 8 2011) and has 77 million shares outstanding.
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