Exeter reports on 25 new drill holes at Cerro Moro
13 Outubro 2009 - 10:00AM
PR Newswire (US)
VANCOUVER, Oct. 13 /PRNewswire-FirstCall/ -- Exeter Resource
Corporation (AMEX:XRA, TSX-V:XRC, Frankfurt: EXB - "Exeter" or the
"Company") is pleased to further report on progress from its
in-fill drilling program on the high grade Escondida gold-silver
vein at Cerro Moro in Santa Cruz Province, Argentina. Results have
been received from an additional 25 diamond drill holes from the
Escondida West, Central, and Far West sectors. Of 21 drill holes
returning significant results, 9 returned bonanza gold and silver
grades, including drill hole MD601 with 4.36 metres ("m") (14.3
feet) at 177.5 grams per tonne ("g/t") (5.15 oz/ton) gold
equivalent*. All bonanza grade holes are from the Far West and
Central sectors and are displayed in the following table. Selected
bonanza drilling results using a 1 g/t gold equivalent* cut-off
grade:
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Gold Gold Drill Hole From To Width Gold Silver Equivalents*
Equivalents* (m) (m) (m) (g/t) (g/t) (g/t) (oz/ton)
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MD582 23.00 24.00 1.00 8.3 61 9.3 0.27
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and 32.00 33.88 1.88 108.3 1,171 127.8 3.71
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including 32.50 33.10 0.60 333.8 3,306 388.9 11.28
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MD584 20.50 25.18 4.68 34.4 1,251 55.3 1.60
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including 23.88 24.88 1.00 156.5 5,255 244.1 7.08
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MD589 37.91 44.52 6.61 88.0 3,483 146.0 4.23
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including 40.10 42.13 2.03 239.7 7,805 369.8 10.72
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and 41.00 41.60 0.60 521.6 14,068 756.1 21.93
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MD592 163.00 170.40 7.40 5.9 380 12.2 0.35
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including 168.79 169.70 0.91 40.4 2,452 81.3 2.36
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MD596 124.88 128.00 3.12 43.1 2,948 92.3 2.68
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including 126.50 127.34 0.84 150.8 10,125 319.6 9.27
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including 96.25 97.12 0.87 54.5 3,300 109.5 3.18
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MD598 91.92 94.77 2.85 38.7 3,493 97.0 2.81
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including 91.92 92.38 0.46 81.7 9,537 240.7 6.98
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MD601 126.00 130.36 4.36 86.3 5,473 177.5 5.15
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including 128.00 128.48 0.48 158.5 4,586 234.9 6.81
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and 128.78 129.25 0.47 433.4 29,451 924.3 26.80
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MD605 128.62 129.50 0.88 6.3 92 7.8 0.23
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including 128.62 129.00 0.38 13.7 178 16.7 0.48
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and 156.12 159.00 2.88 27.1 1,077 45.1 1.31
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including 156.12 156.45 0.33 88.0 3,397 144.6 4.19
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and 156.85 157.20 0.35 87.0 3,052 137.9 4.00
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MD607 103.30 109.15 5.85 31.9 2,520 73.9 2.14
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including 107.53 107.83 0.30 107.2 7,637 234.5 6.80
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and 108.50 108.81 0.31 177.3 18,660 488.3 14.16
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* Gold equivalent grade is calculated by dividing the silver assay
result by 60, adding it to the gold value and assuming 100%
metallurgical recovery. Click Here for the Table Showing all 21
Significant Holes:
http://www.exeterresource.com/images/gallery/plans/Table_86.pdf The
remaining 4 diamond drill holes returned narrow and/or low grade
intersections. All 25 drill holes are represented on the following
long sections and plans. Click Here for the Diagrams Showing the
Sections and Plans:
http://www.exeterresource.com/images/gallery/plans/plans_87.pdf An
additional 27 infill diamond drill holes have been drilled at the
Escondida Far West sector. These holes bring the total Escondida
infill drilling program to 165 diamond drill holes for marginally
over 15,000 m of core (as at the end of September). Exeter
Chairman, Yale Simpson stated "The Far West zone defines the
western portion of the previously announced NI43-101 compliant
inferred resource on the Escondida vein. Diamond drilling is
currently in progress immediately to the west on the
Escondida-Fomicruz property. Exeter is earning an 80% interest in
the property in a joint venture with Fomento Minera de Santa Cruz
Sociedad del Estado the provincial mining company owned by the
government of Santa Cruz Province. "Since its news release dated
September 22, 2009, Exeter has completed 6 diamond drill holes at
Escondida-Fomicruz. Exeter decided to start systematic diamond
drilling on the property based on our interpretation that the
"boiling zone" within which gold-silver precipitates, would be
immediately below drill hole MRC600. Results will be announced
later in October." Progress on the Escondida-Fomicruz Property
Eight diamond and eleven reverse circulation drill holes have been
completed to date for 3,180 m. Should assay data confirm
preliminary geological interpretations, diamond drilling will
continue to "drill off" the new zone. 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
AcmeLabs. 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, Exeter's
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 g/t gold (grams per metric
ton) and 1,017 Mt at a grade of 0.22% copper. This equates to
in-situ inferred resources of 19.6 million ounces of gold and 4.84
billion pounds of copper. Drilling to expand and upgrade the
resource estimate is scheduled to commence in October 2009. (See
news release dated September 14, 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 165 infill holes on
the Escondida vein structure to upgrade the inferred resource to an
indicated resource category. This area will be given priority in
the scheduled 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. ** Inferred mineral resource
estimate of 1,098,000 metric tons 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
http://www.exeterresource.com/. To view the video version of this
press release along with many others click here "Watch Video News":
http://www.youtube.com/ExeterResourceCorp EXETER RESOURCE
CORPORATION Bryce Roxburgh President and CEO 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, infrastructure and other 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
Company's 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 Company's 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
Company's common share price and volume; tax consequences to U.S.
investors; and other risks and uncertainties, including those
described in the Company's Annual Information Form for the
financial year ended December 31, 2008, dated March 27, 2009 filed
with the Canadian Securities Administrators and available at
http://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 DATASOURCE:
Exeter Resource Corporation 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, V6C 2W2,
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