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Market: TSX, AMEX
Sector: General Mining - Gold
EPIC: XRC
Latest Price: C$2.13  (3.90% Ascending)
52-week High: C$5.40
52-week Low: C$1.72
Market Cap: C$187.92M
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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.

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Exeter Resource completes infill drilling at Caspiche

19th Apr 2011, 8:31 pm by Deborah Sterescu

Exeter Resource Corp (AMEX:XRA) (TSE:XRC) announced Monday further drill results from the Caspiche gold-copper porphyry project in northern Chile, which should allow for the conversion of existing inferred resources to the higher indicated category in a new estimate.

Highlights from the infill drilling program include hole CSD074, which intersected 908 metres at 0.60 g.t gold and 0.22% copper; hole CSD075, which returned 572 metres at 0.78 g/t gold and 0.31% copper; hole CSD076, which intersected 1,146 metres at 0.38 g/t gold and 0.31% copper, including 378 metres at 0.55 g/t gold and 0.45% copper.

Meanwhile, hole CSD078 returned 376 metres at 1.25 g/t gold and 0.40% copper from a down hole depth of 250 metres.

“The results from this 6,600m drilling program demonstrate the continuous nature of the Caspiche mineralization and support the integrity of our geological model," said project manager Justin Tolman.

"AMEC International has now been retained to begin work on an updated resource estimate.

"The inclusion of the results from this additional drilling in the upcoming resource estimate update should allow us to consider economic extraction of higher grade portions of the deposit currently classified as inferred within our pre-feasibility study (PFS) currently in progress.”

Currently, the company is using two drill rigs to explore for additional porphyry mineralization in the immediate vicinity of the Caspiche resource. A pre-feasibility study to consider a stand-alone oxide gold deposit is expected in the second quarter.

Exeter recently exercised its option to purchase the Caspiche project from Anglo American. Caspiche is located in the Maricunga gold district, between Kinross Gold's Refugio mine and Barrick and Kinross' Cerro Casale gold deposit.

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