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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
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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
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Exeter Resource progresses testing for pre-feasibility studies at Caspiche gold-copper project in Chile

16th Dec 2010, 10:50 am

Exeter Resource (NYSE Amex:XRA, TSX:XRC, FSX: EXB) said Wednesday that it is progressing with the activities for two pre-feasibility studies being carried out at the Caspiche gold-copper project in the Maricunga district, Chile.

In November, the company announced it appointed Aker Solutions to carry out two separate studies for the property, the first of which would consider a stand-alone heap leach "oxide gold" project to mine the upper part of the deposit, scheduled to be released in the second quarter of next year.

The second study, to run concurrently with the first, would consider mining both the oxide and sulphide deposits, and would be released in the third quarter of 2011.

“Exeter has commissioned a broadly based series of sub-studies to provide Aker with a realistic information platform for the pre-feasibility studies," said vice president of development and operations, Jerry Perkins, in a statement today.

Thus far, Exeter said that with regards to heap leach test work,  McClelland Laboratories has completed a 29 column leaching program on selected materials sourced from the diamond drill cores. A metallurgical test program on drill core samples from the MacNeill zone started this week, it added.

In addition, in early December, a sulphide zone flotation pilot plant program began at SGS Lakefield Laboratories in Canada, where approximately 10 metric tons of sulphide material, broadly representative of the Caspiche Indicated Resource, was treated to provide design information for the pre-feasibility studies.

The company is also progressing with mining, infrastructure and water studies, with NCL Ingenieria having completed detailed pit designs for the oxide heap leach gold report.

Exeter said it as well applied for water exploration rights, as geophysical surveys over one of the company's regional exploration properties located outside of the Copiapo Basin indicated some potential for development of a high altitude water resource, which has the potential to reduce pumping costs.

With regards to exploration drilling, Exeter is currently in-fill drilling to upgrade some of the site's resources to the indicated category for inclusion in the pre-feasibility study.

The Caspiche project is situated between Kinross' Refugio mine and Barrick and Kinross' giant Cerro Casale gold deposit.

Exeter was up 1.5% on Wednesday, trading at $6.18 as of 11:35am EST.

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