Proactiveinvestors recommends
Additional Information
Market: TSX, AMEX
Sector: General Mining - Gold
EPIC: XRC
Latest Price: C$2.05  (-1.21% Descending)
52-week High: C$5.40
52-week Low: C$1.72
Market Cap: C$180.86M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Exeter Resource Corporation
www.exeterresource.com

Exeter, a Canadian exploration company, controls 100% of the world class Caspiche gold-copper discovery in Chile. The Company has a treasury of $74 million and no debt.

Full Exeter Resource Corporation profile here
Is XRC a Buy, Sell or Hold?Get your FREE analysis of XRC
Pdf

Exeter Resource encounters new gold mineralisation at Caspiche, to release resource estimate in late Q1/early Q2

26th Jan 2010, 4:34 pm Exeter Resource encounters new gold mineralisation at Caspiche, to release resource estimate in late Q1/early Q2

Exeter Resource Corp (TSX: XRC, AMEX: XRA) said that drilling 500 metres west of the Caspiche gold-copper porphyry deposit in Chile has encountered a new area of continuous gold mineralization, reporting an intersection of 300 metres grading 0.5 g/t (grammes per tonne) of gold from drill hole CSD044.

Mineralization in this area, which is now called the MacNeill Zone, remains open to the north, south and west, and to depth, under unmineralized cover. Two step-out drill holes are currently testing the target north and south of hole CSD044.

The company announced partial results from 4 new drill holes designed to expand the known Caspiche inferred resource and confirmed that by infill drilling. The results included intersections of 788 metres at 0.74 g/t gold and 0.31% copper from hole CSD043, 739 metres at 0.5 g/t gold and 0.15% copper including 240 metres at 0.83 g/t gold from hole CSD047, which Exeter said was the most northerly section line of the known higher grade zone, extending the area west towards the McNeill zone.

Drill hole CSD041A, which Exeter said marked the southern limit to economic tenor mineralisation in the deposit, intersected 628 metres at 0.27 g/t gold and 0.17% copper, while hole CSD048, an infill hole to upgrade the known inferred resource in the higher grade zone, intersected 844 metres at 0.59 g/t gold and 0.24% copper including 356 metres at 0.84 g/t gold and 0.25% copper.

“The impact of the new MacNeill zone on the mineral resource and project economics is yet to be determined. It could prove to be important, as it is located close to the boundary of the AMEC Whittle open pit used to define the current NI43-101 inferred resource,” said Project Manager at Exeter Justin Tolman.

Exeter said that the MacNeill zone appeared to be similar geologically to nearby "heap leachable" Maricunga gold projects and intended to perform first pass metallurgical testwork on CSD044 and the mineralized section of CSD042 to test if this mineralization could contribute to the leachable component of the project.

An interim resource estimate for Caspiche is expected in late Q1 to early Q2. A new NI43-101 mineral resource estimate for the full drilling season remains scheduled for September 2010.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.