VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 28, 2004) -
Kimber Resources is pleased to report the latest resource estimate on the Carmen deposit, in its Monterde property in Chihuahua, Mexico. This new estimate adds substantially to the size and quality of the resource and provides the basis on which feasibility studies will begin.
Estimate "K", summarized in the table below, is a polygonal add-up by Kimber's geological and engineering staff using a database of the 170 drill holes drilled by the end of August, 2004. Changes since the last estimate, which was based on 90 holes, include:
- Gold ounces in Measured & Indicated categories increased by 80% - Gold ounces in Inferred category increased by 102% - Silver ounces in Measured & Indicated categories increased by 41% - Silver ounces in Inferred category increased by 99%
This resource estimate represents a milestone on the way to Kimber's goal of developing at least one million minable, gold-equivalent ounces on the Carmen deposit and taking it to production-ready status. The next resource estimate will be a block model to be carried out by Micon International, which has been engaged to undertake the feasibility studies. With full valuation of part of the Carmen deposit in sight, Kimber can now direct increased drilling to finding and developing additional resources on the Monterde property and elsewhere.
Resource Estimate "K", September 2004, Combined 0.5 g/t Au & 35 g/t Ag grade ranges ------------------------------------------------------------------------
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