Kimber Resources Inc.
TSX : KBR
NYSE Amex : KBX

Kimber Resources Inc.

April 16, 2012 09:50 ET

Kimber Continues to Drill High-Grade Gold-Silver at Monterde Including 4.2 Metres Grading 6.2 g/t Gold and 47 g/t Silver

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2012) - Kimber Resources Inc. (TSX:KBR)(NYSE Amex:KBX) is pleased to announce further high-grade drill results from its gold-silver Monterde property in the prolific Sierra Madre belt of Mexico. MTC-151 intercepted 4.2 metres of 6.2 g/t gold and 47 g/t silver while MTC-157 intercepted 4.5 metres of 4.9 g/t gold and 124 g/t silver.

"We are pleased that drilling continues to intercept high-grade gold-silver mineralization in the structures at both Carmen and Veta Minitas, including 6.2 g/t gold plus 47 g/t silver over 4.2 metres," reported Gordon Cummings, President and CEO of Kimber. "Gold-silver mineralization was also intercepted by drill holes MTC-149 and MTC-150 in the locations where the new Cocos structure was predicted to occur." The discovery intercept at Cocos grading 18.3 g/t gold and 374.3 g/t silver over 7 metres was previously reported on January 26, 2012. "These high-grade gold-silver intersections continue to support the concept of high-grade mineralization outside the proposed open pit and confirm excellent potential to discover additional high-grade structures to the northeast of the Carmen deposit, an area with only limited drill information."

Results from a total of 15 drill holes are reported herein. In addition, two deep holes have recently been drilled to the northeast of the Carmen deposit, in an area previously untested, with results pending. Highlights of recent assay results are tabulated below, while complete results for all drill holes are tabulated at the end of this news release:

Carmen Drill highlights:

Drill
Hole
Section From
(m)
To
(m)
Intercept*
(m)
Gold
(g/t)
Silver
(g/t)
Gold
Equivalent**
(g/t)
MTC-149 28 226.6 228.1 1.5 1.6 46.6 2.4
and 271.7 273.3 1.6 0.6 129.0 2.8
MTC-150 34 347.0 348.9 1.9 0.6 70.4 1.8
MTC-151 43 465.2 469.4 4.2 6.2 47.6 7.0
including 466.0 468.1 2.1 11.7 56.2 12.7
MTC-157 37 121.2 141.1 19.9 1.5 71.0 2.6
including 130.0 134.5 4.5 4.9 124.2 6.9
and 212.5 214.5 2.0 3.7 48.7 4.5
and 310.6 312.6 2.0 6.6 91.5 8.1
* True widths are expected to range between 65% and 85% of the intervals reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one gram of gold.

High-grade gold-silver mineralization at Carmen, including the Cob, Hilos and Cocos structures, and at Veta Minitas, remains open along strike and at depth, below the existing mineral resource estimate.

Results from the 15 drill holes reported herein, include seven holes drilled at the Carmen deposit, six holes drilled at Veta Minitas and two holes that targeted Tapado, an area of mineralization west of Carotare and approximately two kilometres west of the Carmen deposit.

Veta Minitas Drill highlights:

Drill
Hole
Section From
(m)
To
(m)
Intercept*
(m)
Gold
(g/t)
Silver
(g/t)
Gold
Equivalent**
(g/t)
LMRD- 62 33 209.6 213.2 3.6 4.2 66.2 5.3
and 300.2 305.3 5.1 1.9 194.4 5.2
LMRD- 64 38 328.5 337.0 8.5 2.7 19.8 3.1
including 329.5 332.5 3.0 6.6 38.5 7.3
LMRD- 68 40 140.0 148.0 8.0 0.3 177.7 3.2
including 142.0 146.0 4.0 0.5 268.5 5.0
* True widths are expected to range between 65% and 85% of the intervals reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one gram of gold.

Tapado

Drilling at additional target areas outside of the current Mineral Resource Estimate areas returned results for two holes collared on the Tapado structure, which lies west of the Carotare deposit. Results for Hole TPC-01 and TPC-02 returned anomalous gold-silver values over modest widths, and are shown in the appendix. Further review of the geology at Tapado will take place over the coming months.

Management Change

Petrus (Marius) Mare has recently resigned from Kimber Resources. "Marius made a significant contribution to the Company over the last 4 1/2 years and his efforts are appreciated," said Mr. Cummings. James Currie P.Eng., the Chief Operating Officer for Kimber Resources, is now acting as the designated Qualified Person for the Monterde project under National Instrument 43-101. Kimber also has experienced, well qualified geologists based at Monterde.

To view the maps associated with this release, please visit the following link: http://media3.marketwire.com/docs/kbxmaps0416.pdf

About Kimber

Kimber owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the 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 has undergone detailed geologic modeling. The completion of the Updated Preliminary Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supports further development and more advanced economic studies at the Monterde deposits. The subsequent discovery of high grade gold-silver mineralization below the mineral resources used in the preliminary economic assessment adds a potentially significant new dimension to the opportunities at Monterde.

Forward looking statements

Statements in this release may be viewed as forward-looking statements, including statements regarding estimates of mineral resources at Monterde, the preliminary economic assessment of the Monterde project, the conversion of inferred mineral resources to measured and indicated mineral resources, the conversion of mineral resources to mineral reserves, life of mine estimates, the potential for gold and silver mineral resources in the Carmen and Veta Minitas deposits and other targets within the Monterde project, the implications of the results of drill holes reported herein, the results of future exploration, the economic potential of any such discoveries made, the further development, expected results and future economic assessments of the Monterde project. When used in this press release, the words "expect", "intend", "hopes", "should", "believe", "may", "will", "if", "anticipates", "potential for", "potentially", "suggests" and similar expressions are intended to identify forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, uncertainty of mineral reserve and resource estimates, continuity of mineralization between drill holes, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Kimber's operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to the use of inferred mineral resources in the preliminary economic assessment, and uncertainty of being able to raise capital on favourable terms or at all, as well as those risk factors discussed under the headings "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in Kimber's latest Annual Report on Form 20-F as recently filed on SEDAR and EDGAR. There are no assurances the Company can fulfil such forward-looking statements and the Company undertakes no obligation to update such statements, except as required by law. 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.

Quality Assurance/Quality 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 and approved by Mr. James A. Currie P.Eng., Chief Operating Officer of the Company. The exploration activities at the Monterde project site are now carried out under the supervision of James A. Currie P.Eng. (previously Mr. Petrus (Marius) Mare), who is the designated Qualified Person under National Instrument 43-101 for the Monterde project and is responsible for quality control at Monterde and has verified the data being disclosed herein. He has determined that the laboratory reports matched the drill sample logs and that the quality control assays fall within reasonable limits. QA/QC procedures incorporate blanks and duplicates inserted at the drill and standards inserted after sample preparation. Sample preparation was done by ALS Chemex at its Chihuahua laboratory. 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 in this news release and on its website, such as "measured," "indicated," and "inferred," "mineral resources," which the SEC guidelines strictly prohibit U.S. companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure under the heading "Cautionary Note to U.S. Investors Regarding Mineral Reserve and Resource Estimates" in our latest annual report on Form 20-F which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.

Complete table of Carmen drill results:

Drill
Hole
Section From
(m)
To
(m)
Intercept*
(m)
Gold
(g/t)
Silver
(g/t)
Gold
Equivalent
(g/t)
MTC-149: Location (788651, 3055685), Azimuth (225), Dip (-79)
MTC-149 28 226.6 228.1 1.5 1.6 46.6 2.4
and 271.7 273.3 1.6 0.6 129.0 2.8
MTC-150: Location (788613, 3055861), Azimuth (225), Dip (-58)
MTC-150 34 347.0 348.9 1.9 0.6 70.4 1.8
and 476.3 477.9 1.6 1.9 7.9 2.1
MTC-151: Location (788348, 3055918), Azimuth (225), Dip (-65)
MTC-151 43 94.6 102.0 7.4 0.3 65.0 1.4
and 262.2 263.5 1.3 4.5 56.0 5.5
and 459.4 461.8 2.4 0.7 21.3 1.0
and 465.2 469.4 4.2 6.2 47.6 7.0
including 466.0 468.1 2.1 11.7 56.2 12.7
and 477.7 480.9 3.2 1.6 1.4 1.6
MTC-152: Location (788613, 3055861), Azimuth (225), Dip (-71)
MTC-152 34 222.9 226.9 4.0 1.1 14.4 1.3
and 285.9 289.0 3.1 3.2 39.1 3.9
and 338.6 339.8 1.2 2.2 3.2 2.2
and 482.6 484.1 1.5 2.5 18.6 2.8
and 515.8 517.4 1.6 2.0 6.0 2.1
MTC-155: Location (788604, 3055817), Azimuth (225), Dip (-65)
MTC-155 33 268.1 274.5 6.4 0.2 69.3 1.3
and 291.2 294.6 3.4 0.1 88.9 1.6
and 311.2 313.8 2.6 0.7 123.7 2.8
including 311.2 312.4 1.2 1.4 174.0 4.3
and 351.3 357.4 6.1 0.9 45.6 1.6
including 354.3 355.8 1.5 2.5 53.0 3.3
MTC-157: Location (788395, 3055726), Azimuth (225), Dip (-60)
MTC-157 37 38.5 41.5 3.0 0.8 39.7 1.4
and 62.9 71.5 8.6 0.2 49.3 1.0
and 94.4 98.0 3.6 1.4 89.6 2.9
including 96.5 98.0 1.5 3.1 90.0 4.6
and 105.5 115.5 10.0 0.6 62.6 1.7
including 112.1 114.0 1.9 2.3 165.0 5.0
and 121.2 141.1 19.9 1.5 71.0 2.6
including 130.0 134.5 4.5 4.9 124.2 6.9
and 156.3 160.9 4.6 0.9 30.2 1.4
and 212.5 214.5 2.0 3.7 48.7 4.5
and 231.2 233.0 1.8 0.1 121.0 2.1
and 310.6 312.6 2.0 6.6 91.5 8.1
including 311.6 312.6 1.0 12.6 94.0 14.1
MTRD-531: Location (787934, 3055957), Azimuth (220), Dip (-70)
MTRD-531 56 361.4 364.3 2.9 0.1 101.4 1.8
including 362.4 363.3 0.9 0.3 217.0 3.9
and 515.4 518.8 3.4 1.0 1.9 1.0
* True widths are expected to range between 65% and 85% of the intervals reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one gram of gold.

Complete table of Minitas drill results:

Drill
Hole
Section From
(m)
To
(m)
Intercept*
(m)
Gold
(g/t)
Silver
(g/t)
Gold
Equivalent
(g/t)
LMRD-62: Location (788221, 3055433), Azimuth (225), Dip (-57)
LMRD- 62 33 58.0 62.0 4.0 0.0 91.8 1.6
and 209.6 213.2 3.6 4.2 66.2 5.3
and 300.2 305.3 5.1 1.9 194.4 5.2
including 303.8 305.3 1.5 0.1 651.0 10.9
And 386.7 390.4 3.7 1.8 21.2 2.1
and 406.8 412.6 5.8 0.6 33.8 1.2
and 488.7 489.4 0.7 4.3 130.0 6.4
LMRD-64: Location (788107, 3055494), Azimuth (225), Dip (-52)
LMRD- 64 38 322.5 326.5 4.0 0.8 10.1 1.0
and 328.5 337.0 8.5 2.7 19.8 3.1
including 329.5 332.5 3.0 6.6 38.5 7.3
and 347.3 353.6 6.4 2.1 14.0 2.3
and 418.0 420.1 2.1 0.0 67.4 1.1
LMRD-65: Location (788116, 3055463), Azimuth (225), Dip (-52)
LMRD- 65 37 155.5 160.4 4.9 0.0 108.3 1.8
and 277.5 283.5 6.0 1.9 61.3 2.9
including 277.5 279.0 1.5 4.4 89.3 5.9
and 310.5 313.3 2.8 1.3 8.3 1.5
LMRD-67: Location (788023, 3055487), Azimuth (225), Dip (-49)
LMRD- 67 40 116.0 120.0 4.0 0.0 72.0 1.2
and 248.5 250.0 1.5 3.8 46.6 4.5
and 256.0 259.5 3.5 0.1 42.7 0.8
and 283.5 286.5 3.0 2.2 42.4 2.9
LMRD-68: Location (788045, 3055503), Azimuth (225), Dip (-51)
LMRD- 68 40 140.0 148.0 8.0 0.3 177.7 3.2
including 142.0 146.0 4.0 0.5 268.5 5.0
and 265.0 270.0 5.0 0.6 9.5 0.8
and 284.0 290.0 6.0 0.5 9.5 0.7
LMRD-73: Location (788044, 3055572), Azimuth (225), Dip (-55)
LMRD- 73 42 4.0 14.0 10.0 0.2 48.9 1.0
* True widths are expected to range between 65% and 85% of the intervals reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one gram of gold.

Complete table of Tapado drill results:

Drill
Hole
Section From
(m)
To
(m)
Intercept*
(m)
Gold
(g/t)
Silver
(g/t)
Gold
Equivalent
(g/t)
TPC-01: Location (785608, 3055916), Azimuth (090), Dip (-63)
TPC- 01 A 128.5 131.3 2.8 0.6 43.4 1.3
and 137.9 141.2 3.3 1.0 10.7 1.2
TPC-02: Location (785620, 3055943), Azimuth (090), Dip (-60)
TPC- 02 B 137.9 140.5 2.6 0.1 72.1 1.3
and 199.6 201.6 2.0 1.2 40.1 1.9
* True widths are expected to range between 65% and 85% of the intervals reported on the table above.
**Gold equivalent grade assumes equivalence of 60 grams of silver to one gram of gold.

Contact Information

  • Kimber Resources Inc.
    Renee Brickner
    Vice President, Investor Relations
    North America Toll Free: 1-866-824-1100 or (604) 669-2251

    Kimber Resources Inc.
    Gordon Cummings, CA
    President and CEO
    North America Toll Free: 1-866-824-1100 or (604) 669-2251
    (604) 669-8577 (FAX)
    news@kimberresources.com
    www.kimberresources.com