🕐22.09.09 - 15:08 Uhr
Exeter Reports on 40 New Drill Holes at Cerro Moro
You can view online version http://exeterresource.cmail4.com/t/y/e/kklltd/yukhjujui/ or unsubscribe
http://exeterresource.cmail4.com/t/y/u/kklltd/yukhjujui/ from our list.
To view the video version of the following press release: Click
Here
To assist delivery of this message, please put
[] in your address book
Exeter Reports on 40 New Drill Holes at Cerro Moro
Vancouver, B.
C., September 22, 2009 – Exeter Resource
Corporation (AMEX:XRA, TSX-V:XRC, Frankfurt: EXB – "Exeter" or
the "Company") is pleased to report on progress from its in-fill
drilling program on the high grade Escondida Vein at Cerro Moro
in Santa Cruz Province, Argentina.
Results have been received from an additional 40 diamond drill
holes from the Escondida West, Central, East and Fomicruz
sectors.
Of 23 drill holes returning significant results, 9
returned bonanza gold and silver grades (all from the West,
Central and East sectors), as displayed in the following table.
Selected bonanza drilling results using a 1 gram per tonne ("g/t"
) gold equivalent* cut-off grade:
Drill Hole From
(m) To
(m) Width
(m) Gold
(g/t) Silver
(g/t) Gold Equivalents*
(g/t) Gold Equivalents*
(oz/ton) MD506 54.00 56.36 2.36 129.8 3,889 185.4 5.38
Including 54.74 55.04 0.30 749.7 16,318 982.8 28.50 MD532 44
.83 47.12 2.29 210.1 417 216.1 6.27 Including 45.90 46.50 0.60
709.8 1,129 725.9 21.05 MD535 41.95 43.25 1.30 46.9 915 60.0 1
.74 Including 41.95 42.40 0.45 94.8 1,282 113.1 3.28 MD548 22
.32 23.35 1.03 61.3 1,406 81.4 2.36 Including 22.32 22.62 0.30
134.6 3,367 182.7 5.30 MD553 38.08 40.22 2.14 80.7 1,943 108.5
3.15 Including 38.08 38.74 0.66 243.7 5,929 328.4 9.52 MD563
36.86 42.00 5.14 6.2 680 16.0 0.46 Including 39.19 39.57 0.38
50.4 6,310 140.5 4.07 MD568 10.35 13.72 3.37 45.2 320 49.8 1
.44 Including 13.08 13.72 0.64 222.9 511 230.2 6.68 MD569# 6
.00 10.75 4.75 33.5 855 45.7 1.33 Including 7.84 9.51 1.67 92.7
2,284 125.3 3.63 MD580 62.65 64.87 2.22 38.9 1,106 54.7 1.59
Including 64.35 64.87 0.52 133.0 4,151 192.3 5.58
* Gold equivalent grade is calculated by dividing the silver
assay result by 70, adding it to the gold value and assuming 100
% metallurgical recovery.
# Drill hole MD569 also intersected mineralization greater than 1
.0 g/t gold equivalent from surface to 3.00 metres ("m") however
the recoveries were significantly less than reporting
requirements.
View full table with all 23 significant holes.
Of the 17 diamond drill holes with less significant results, 7
holes returned narrow and/or low grade intersections and 10
holes were poorly mineralized.
The results from 6 holes at the
Escondida Central and West sectors are awaited.
The locations of the 40 drill holes reported are represented on
the following plans and long sections.
View sections and plans pdf.
An additional 44 in-fill diamond drill holes have been drilled at
the Escondida Far West sector.
Results for the holes will be
released following processing, sampling and assaying.
Drilling Progress on the Escondida Fomicruz Property
A reverse circulation percussion (RC) drill rig has completed an
initial exploratory test of the potential northwest extension of
the Escondida mineralized structure on the Escondida Fomicruz
joint venture property.
The rig firstly drilled through the
blanket of Tertiary marine sediments before testing the
underlying volcanic stratigraphy.
Ten drill sections that
included 11 RC holes and 2 diamond holes were drilled within a
strike length of 1,600 m (160 m intervals).
The position of the Escondida structure was determined for each
drill section, with assays now available for the first three
holes.
Drill hole MRC600, located 160 m northwest of the last
mineralized Escondida Far West sector hole designated MD405 (1
.62 m at a grade of 2.53 g/t gold and 100 g/t silver), returned 2
.0 m at a grade of 1.8 g/t gold and 1.2 g/t silver, from a down
hole depth of 141.0 m.
Importantly, MRC600 was terminated at 146
.0 m but was not sampled below 143 m due to poor sample
recoveries.
On the next drill section, 160 m northwest of MRC600, drill hole
MD587 was sited too far to the northeast to hit the Escondida
structure.
A follow-up hole, MD588, sited as a step back hole,
successfully intercepted the target but failed to return
significant mineralization.
Cerro Moro Project Manager, Fernando Chacon noted "Based on our
experience to the southeast, subtle anomalous pathfinder element
geochemistry in holes MD588 and MRC600 suggests these holes
intersected the Escondida structure immediately above the
precious metal precipitation zone of the epithermal system.
The
diamond drill is currently drilling 40 m spaced holes between
MD405 and MRC600, with a series of deeper holes planned."
Quality Control and Assurance
Drill widths presented above are drill intersection widths and
may not represent the true widths of mineralization.
Gold assay results presented above are preliminary and have been
calculated using a 1.0 g/t gold equivalent cut-off grade, with
no cutting of high grades.
All diamond drill core samples are
split on regular metre intervals or on geological contacts and
represent sawn half HQ-size core.
Samples were prepared at the
Acme Analytical Laboratories ("AcmeLabs") preparation facility
in Mendoza, Argentina and assayed by fire assay (50 gram charge)
at the AcmeLabs laboratory in Chile, both ISO-9001:2000
certified laboratories.
Check assaying of all samples assaying greater than 1.0 g/t gold
is completed by Acme Labs.
Samples returning greater than 10 g/t
gold and/or greater than 100 g/t silver are assayed using
gravimetric analyses.
Standard and blank samples are used
throughout the sample sequence as checks for the diamond
drilling reported in this release.
Standard, blank and duplicate
samples are used throughout the sample sequence as checks for
the RC percussion drilling.
Assaying by the screen fire assay method has been implemented in
conjunction with standard 50 gram fire assaying, for diamond
drill cores that contain visible gold.
The procedure for screen
fire assaying involves crushing and sieving of a nominal 1,000
gram sample to a particle size of 100 microns.
All material
which does not pass through the 100 micron sieve is then assayed
.
Two fire assays are undertaken on the undersize material as a
check on homogeneity.
The total gold content is then calculated.
Matthew Williams, Exeters Exploration Manager and a "qualified
person" within the definition of that term in National
Instrument 43-101, Standards of Disclosure for Mineral Projects,
has supervised the preparation of the technical information
contained in this news release.
About Exeter
Exeter Resource Corporation is a Canadian mineral exploration
company focused on the discovery and development of gold and
silver properties in South America.
The Company has C$30 million
in its treasury.
On the Caspiche Project in Chile, Exeter recently announced an
inferred mineral resource estimate of 1,117 Mt (million metric
tons) at a grade of 0.55 grams per metric ton gold and 3.81
grams per metric ton silver including 1,017 Mt at a grade of 0
.22% copper.
This equates to in-situ inferred resources of 19.6
million ounces of gold, 137 million ounces of silver and 4.84
billion pounds of copper (a total of 33.7 million gold
equivalent ounces**.
Drilling to expand and upgrade the resource
estimate is scheduled to commence in October 2009.
On the Cerro Moro Project in Argentina, Exeter recently announced
an initial inferred mineral resource estimate of 646,000 ounces
gold equivalent*** at a grade of 18 g/t gold equivalent***.
Exeter has drilled over 150 in-fill holes on the Escondida Vein
structure to upgrade inferred resources to indicated resources
for priority areas for a 2010 scoping study.
Drilling will
continue through 2009, as will engineering, environmental and
infrastructure studies.
No site work is planned on the Don Sixto gold-silver project in
Argentina over the next quarter.
The Company will continue to
work with provincial authorities and with representatives of
other mining companies, to effect amendment to the 2007
legislation that banned the use of cyanide in mining operations
in Mendoza Province.
**Gold ("Au") equivalence for copper ("Cu") and silver ("Ag") was
calculated by Exeter using assumed metal prices of US$800/ounce
("oz") for Au, US$12/oz for Ag and US$2/pound ("lb") for Cu.
The
formula to calculate Au equivalence for Cu was pounds of Cu
multiplied by 2 and divided by 800; Au equivalence for Ag was
calculated using the formula oz of Ag multiplied by 12 and
divided by 800, and in both cases assumes 100% recovery.
Reported grades and metric tons have been rounded (see news
release NR 9-19 dated September 14, 2009).
***Inferred mineral resource estimate of 1,098,000 tonnes
containing 371,000 ounces gold at a grade of 10.5 g/t and 19.2
million ounces silver at a grade of 545 g/t for 646,000 ounces
gold equivalent at a grade of 18 g/t gold equivalent.
Gold
equivalent is calculated by dividing the silver assay result by
70, adding it to the gold value and assuming 100% metallurgical
recovery (see news release NR 9-14 dated July 8, 2009).
You are invited to visit the Exeter web site at
view the video version of
this press release along with many others click here "Watch
Video News"
EXETER RESOURCE CORPORATION
Bryce Roxburgh
President and CEO
For further information, please contact:
B.
Roxburgh, President or
Rob Grey, VP Corporate Communications
Tel: 604.688.9592 Fax: 604.688.9532
Toll-free: 1.888.688.9592
Suite 1260, 999 West Hastings St.
Vancouver, BC Canada V6C2W2
[]
Safe Harbour Statement – This news release contains "forward
-looking information" and "forward-looking statements" (together,
the "forward-looking statements") within the meaning of
applicable securities laws and the United States Private
Securities Litigation Reform Act of 1995, including the Company
s belief as to the extent and timing of its drilling programs,
various studies including engineering, environmental and
infrastructure studies and exploration results, budgets for its
exploration programs, the potential tonnage, grades and content
of deposits, timing, establishment and extent of resources
estimates, potential for financing its activities, potential
production from and viability of its properties and expected
cash reserves.
These forward-looking statements are made as of
the date of this news release.
Users of forward-looking
statements are cautioned that actual results may vary from the
forward-looking statements contained herein.
While the Company
has based these forward-looking statements on its expectations
about future events as at the date that such statements were
prepared, the statements are not a guarantee of the Companys
future performance and are subject to risks, uncertainties,
assumptions and other factors which could cause actual results
to differ materially from future results expressed or implied by
such forward-looking statements.
Such factors and assumptions
include, amongst others, the effects of general economic
conditions, the price of gold, silver and copper, changing
foreign exchange rates and actions by government authorities,
uncertainties associated with legal proceedings and negotiations
and misjudgements in the course of preparing forward-looking
information.
In addition, there are also known and unknown risk
factors which could cause the Companys actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements.
Known risk factors include risks
associated with project development; the need for additional
financing; operational risks associated with mining and mineral
processing; fluctuations in metal prices; title matters;
uncertainties and risks related to carrying on business in
foreign countries; environmental liability claims and insurance;
reliance on key personnel; the potential for conflicts of
interest among certain officers, directors or promoters of the
Company with certain other projects; the absence of dividends;
currency fluctuations; competition; dilution; the volatility of
the Companys common share price and volume; tax consequences to
U.S.
investors; and other risks and uncertainties, including
those described in the Companys Annual Information Form for the
financial year ended December 31, 2008, dated March 27, 2009
filed with the Canadian Securities Administrators and available
at www.sedar.com .
Although the Company
has attempted to identify important factors that could cause
actual actions, events or results to differ materially from
those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended.
There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from
those anticipated in such statements.
Accordingly, readers
should not place undue reliance on forward-looking statements.
The Company is under no obligation to update or alter any
forward-looking statements except as required under applicable
securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE
Forward this email to a friend http://exeterresource.forwardtomyfriend.com/y/yukhjujui/3DBC13B7/kklltd/l