Total Base Case Mineral Resource Estimate for Carmen, Veta Minitas and Carotare Deposits
(At a 3.0g/t Recoverable Gold Equivalent Cut-off)
| Classification |
Tonnes (000s) |
In Situ Gold Grade (g/t) |
In Situ Silver Grade (g/t) |
Contained In Situ Gold (oz) |
Contained In Situ Silver (oz) |
| Indicated-Carmen |
3,660 |
4.19 |
165.2 |
492,900 |
19,440,700 |
| Indicated- Veta Minitas |
34 |
4.80 |
303.2 |
5,200 |
331,500 |
| Indicated- Carotare |
95 |
4.10 |
64.1 |
12,500 |
195,800 |
| Total Indicated |
3,789 |
4.19 |
163.9 |
510,600 |
19,968,000 |
| Inferred- Carmen |
1,921 |
4.40 |
94.6 |
271,800 |
5,845,000 |
| Inferred- Veta Minitas |
689 |
4.69 |
182.8 |
103,900 |
4,050,000 |
| Inferred- Carotare |
85 |
3.59 |
57.7 |
9,800 |
157,600 |
| Total Inferred |
2,695 |
4.45 |
116.0 |
385,500 |
10,052,600 |
Note 1: Gold Equivalent or “AuEq” g/t is based on assumed metal prices of US$750/oz gold and US$12/oz silver and estimated gold and silver recoveries for each block, using the following formula: AuEq g/t = (Gold Grade * Gold Recovery %) + ((Silver Grade * Silver Recovery %) * 12 / 750)
Note 2: Columns with headings “Gold (g/t)”, “Silver (g/t)”, “Gold (ozs)” and “Silver (ozs)” all relate to contained metal and are before metallurgical recoveries are applied.
Note 3: See NI43-101 compliance slide at the end of presentation
The mineral resource estimates for Carmen, Veta Minitas and Carotare include a high grade mineral
resource considered to be potentially amenable to underground mining, and which is
surrounded by a lower grade mineral resource halo, some of which may be amenable to open
pit mining.
Base Case Total Mineral Resource Estimate (inclusive of High Grade) for the Carmen, Veta Minitas and Carotare Deposits
(At a 0.3g/t Recoverable Gold Equivalent Cut-off)
| Classification |
Tonnes (000s) |
In Situ Gold Grade (g/t) |
In Situ Silver Grade (g/t) |
Contained In Situ Gold (oz) |
Contained In Situ Silver (oz) |
| Indicated- Carmen |
19,500 |
1.12 |
59.0 |
699,700 |
36,978,700 |
| Indicated- Veta Minitas |
510 |
0.68 |
36.0 |
11,100 |
591,000 |
| Indicated- Carotare |
2,520 |
0.75 |
16.2 |
60,500 |
1,310,100 |
| Total Indicated |
22,530 |
1.06 |
53.7 |
771,300 |
38,879,800 |
| Inferred- Carmen |
10,800 |
1.09 |
32.0 |
381,600 |
11,155,400 |
| Inferred- Veta Minitas |
2,700 |
1.37 |
70.9 |
119,200 |
6,153,000 |
| Inferred- Carotare |
2,620 |
0.63 |
17.1 |
45,400 |
1,234,000 |
| Total Inferred |
16,120 |
1.05 |
35.8 |
545,200 |
18,542,400 |
Note 1: Gold Equivalent or “AuEq” g/t is based on assumed metal prices of US$750/oz gold and US$12/oz silver and estimated gold and silver recoveries for each block, using the following formula: AuEq g/t = (Gold Grade * Gold Recovery %) + ((Silver Grade * Silver Recovery %) * 12 / 750)
Note 2: Columns with headings “Gold (g/t)”, “Silver (g/t)”, “Gold (ozs)” and “Silver (ozs)” all relate to contained metal and are before metallurgical recoveries are applied.
Note 3: See NI43-101 compliance slide at the end of presentation
Metallurgical Studies
Based on 329 individual metallurgical recovery characterization tests conducted across the entire Carmen deposit, trends have been identified to relate the recovery to location within the deposit and grade for each of silver and gold. As a result of this extensive metallurgical test work, at a cut-off grade of 3 g/t recoverable gold equivalent, average modelled gold recoveries were estimated as 96% for indicated mineral resources and inferred mineral resources while the average modelled silver recovery was estimated as 72% for indicated mineral resources and 75% for inferred mineral resources. Based on the analysis of 17 individual metallurgical recovery characterization tests conducted across the Veta Minitas deposit, at a cut-off grade of 3 g/t recoverable gold equivalent, average modelled gold recoveries for Veta Minitas were 96% for indicated mineral resources and inferred mineral resources while the average modelled silver recovery was 37% for indicated mineral resources and for inferred mineral resources.
Qualified Persons
The mineral resource estimates were prepared by Mr. Gary Giroux, P.Eng., a senior associate of Micon and the results are effective at November 17, 2009. This mineral resource estimate was prepared using a three dimensional block model and ordinary kriging of 6 x 6 x 6 m blocks. The estimation of grades was constrained by models of the geological and mineralized zones created by Kimber geological staff under the supervision of Mr. Petrus (Marius) Maré, P.Geo, Vice-President Exploration, and the designated Qualified Person (QP) for the Monterde project. Models of the geology and mineralization of gold and silver at Carmen were reviewed and approved by Mr. B. Terrence Hennessey, P.Geo., of Micon. The wireframes of the high grade and low grade gold and silver mineralization were interpreted into various sub-domains to optimize the sample search orientation by Pierre Desautels, P.Geo., of PEG Mining Consultants Inc. The gold and silver metallurgical recovery models, for the Carmen and Veta Minitas deposits, used to calculate gold and silver recoveries by block and gold equivalent grade by block were prepared by Kimber staff and consultants, and reviewed and approved by Richard Gowans, P.Eng., President of Micon.
National Instrument 43-101 Compliance
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 by Mr. Petrus (Marius) Mare P.Geo., Vice-President Exploration of the Company. The exploration activities at the Monterde and Pericones project sites are carried out under the supervision of Mr. Mare, who is the designated Qualified Person under National Instrument 43-101 for the Monterde and Pericones projects. Mr. Petrus (Marius) Mare, Vice-President Exploration, is the designated Qualified Person (Q.P.) for the Monterde project, being responsible for quality assurance and quality control (“QA/QC”), and has verified the data being disclosed. He has determined that the laboratory reports matched the surface and adit sample logs and that the quality control assays fall within reasonable limits. QA/QC procedures incorporate blanks inserted at the core shack and standards inserted after sample preparation in respect of the Monterde Project samples. 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 on its website (and certain press releases), such as “measured,” “indicated,” and “inferred,” “resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20 F which may be secured from us, or from the SEC’s website at http://www.sec.gov/edgar.shtml.