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A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
New Cocos Structure Lies Northeast of Other Carmen Structures, Enlarges Area of Exploration Potential
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 26, 2012) – Kimber Resources Inc. (TSX:KBR)(NYSE Amex:KBX) is pleased to announce ongoing drill results from an additional 14 drill holes at its Monterde gold/silver project in Mexico, including eight holes drilled at Carmen and six holes drilled at Veta Minitas. Of particular interest is drill hole MTC-142A, which intersected a new structure containing 7 metres of 18.3 g/t gold and 374.3 g/t silver. This wide and high-grade gold-silver intersection is located northeast of other known structures in the Carmen deposit and is believed to be a parallel or semi-parallel structure to the current structures that make up the Carmen deposit. The new structure has been named “Cocos” and is geologically different from the other structures at Carmen being characterized by bright white quartz and quartz breccia, not the silicification seen in other gold-silver mineralized structures at Carmen. In addition, from the review of Cocos core samples, the base metal sulphides occur as thin veinlets and are finer grained than the sulphides encountered in the Carmen structure in hole MTRD-476 (which intersected 4.9 metres of 78.4 g/t gold and 127.9 g/t silver, as announced May 31, 2011). Also significant is hole MTRD-512 which intersected 8.6 g/t gold and 326.2 g/t silver over 5m in the footwall of the Cob structure.
“The discovery of a new structure containing high-grade gold-silver mineralization further supports our view that Monterde has excellent potential to host additional high-grade structures, both near Carmen and in other areas of Monterde,” reported Gordon Cummings, President and CEO of Kimber. “Kimber’s recent successes in identifying additional high grade mineralization at deeper levels at Carmen, along with the discovery of the new high-grade gold-silver Cocos structure, strongly support Kimber’s strategy to drill for growth at Monterde.”
Cocos is not known to outcrop at surface, suggesting the possibility of additional concealed structures to host high-grade gold-silver. The discovery of Cocos also extends the area for exploration at Carmen to the northeast of all previously known structures in this area.
