RE: Cerro Moro - drill results?? BONANZA GRADE DRIHERE WE ARE: BONANZA GRADE DRILL RESULTS
Thank you, XRC.
A further 85 diamond drill holes have been drilled with assay results not yet available.
Exeter Continues to Intersect Bonanza Grades at Cerro Moro
2010-02-03 09:00 ET - News Release
VANCOUVER, Feb. 3 /CNW/ - Exeter Resource Corporation (NYSE-Amex:XRA, TSX:XRC, Frankfurt: EXB - "Exeter" or the "Company") is pleased to report further high grade to bonanza grade results from in-fill drilling at Cerro Moro, Santa Cruz Province, Argentina. Of 48 diamond drill holes assayed, 28 holes returned significant results, including 12 with very high grades. Most notable was MD644 with 5.38 metres (17.7 feet) at 149.9 grams per tonne (4.35 oz/ton) gold equivalent*.
Cerro Moro is the prime asset for a proposed spin-out announced January 19, 2010 pursuant to which each Exeter shareholder would receive one new share for each Exeter share held.
Selected high grade results at a 1 g/t gold equivalent* cut-off grade (abbreviations used are metres ("m") and grams per tonne ("g/t")):
<<
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Gold Gold
Equiva- Equiva-
From To Width Gold Silver lents* lents*
Drill Hole (m) (m) (m) (g/t) (g/t) (g/t) (oz/ton)
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Escondida Far West Sector
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MD644 69.62 75.00 5.38 64.4 5,131 149.9 4.35
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including 71.02 71.32 0.30 120.5 18,517 429.1 12.44
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and 72.19 72.50 0.31 319.6 15,962 585.6 16.98
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and 73.32 73.65 0.33 246.1 29,123 731.5 21.21
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MD646 113.94 120.00 6.06 56.4 2,496 98.0 2.84
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including 115.12 117.09 1.97 162.2 6,192 265.4 7.70
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including 115.52 116.10 0.58 423.8 9,958 589.8 17.10
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MD647 148.00 148.40 0.40 10.6 1,076 28.5 0.83
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and 163.00 166.38 3.38 7.5 526 16.2 0.47
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including 163.00 163.65 0.65 14.9 966 31.0 0.90
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and 164.70 165.71 1.01 10.5 800 23.8 0.69
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MD650 71.35 72.10 0.75 36.6 1,379 59.6 1.73
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including 71.80 72.10 0.30 90.3 3,396 146.9 4.26
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MD656 106.00 106.90 0.90 8.3 22 8.7 0.25
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and 126.00 133.00 7.00 12.1 967 28.2 0.82
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including 128.30 129.15 0.85 57.7 2,580 100.7 2.92
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MD661 166.16 169.19 3.03 5.4 384 11.9 0.35
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including 166.16 167.38 1.22 11.3 679 22.7 0.66
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MD662 110.24 111.78 1.54 25.6 1,517 50.9 1.48
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including 110.24 111.32 1.08 36.1 2,104 71.2 2.06
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MD670 160.29 162.13 1.84 5.2 232 9.0 0.26
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including 160.93 161.45 0.52 9.7 541 18.7 0.54
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MD672 145.22 146.90 1.68 9.5 584 19.2 0.56
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including 145.58 146.00 0.42 33.7 2,103 68.8 2.00
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MD676 176.70 180.57 3.87 28.7 315 34.0 0.99
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including 177.75 178.25 0.50 188.2 558 197.5 5.73
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and 181.25 183.00 1.75 2.9 382.2 9.3 0.27
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including 181.85 182.15 0.30 9.6 1,295 31.2 0.90
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MD678 131.11 139.00 7.89 16.4 628 26.8 0.78
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including 134.35 135.40 1.05 67.8 445 75.2 2.18
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and 137.22 137.65 0.43 40.9 5,316 129.5 3.76
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MD685 48.70 51.75 3.05 2.2 295 7.2 0.21
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including 50.05 50.70 0.65 5.4 587 15.2 0.44
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MD691 241.10 243.00 1.90 2.7 76 3.9 0.11
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including 242.30 242.60 0.30 8.8 84 10.2 0.30
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MD698 161.85 164.28 2.43 60.2 3,407 117.0 3.39
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including 162.52 163.44 0.92 140.7 7,534 266.3 7.72
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MD702 183.90 185.85 1.95 4.1 756 16.7 0.48
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including 184.20 184.90 0.70 10.9 2,002 44.3 1.28
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MD704 130.60 136.25 5.65 13.9 1,046 31.4 0.91
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including 132.93 133.25 0.32 21.7 1,733 50.6 1.47
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and 135.30 135.70 0.40 112.5 6,602 222.5 6.45
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MD708 74.00 82.00 8.00 30.3 1,574 56.5 1.64
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including 79.53 82.00 2.47 96.4 4,977 179.4 5.20
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and 79.85 80.50 0.65 195.5 11,840 392.8 11.39
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MD711 117.00 118.00 1.00 4.48 146 6.91 0.20
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and 125.95 128.37 2.42 12.1 336 17.7 0.51
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and 127.36 127.70 0.34 49.7 1,119 68.4 1.98
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MD714 199.00 200.20 1.20 6.9 351 12.8 0.37
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including 199.00 199.32 0.32 10.6 801 24.0 0.70
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MD717 98.00 105.00 7.00 12.2 1,137 31.2 0.90
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including 99.85 103.35 3.50 19.1 1,963 51.8 1.50
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including 102.86 103.35 0.49 88.0 10,019 255.0 7.40
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MD727 182.45 184.20 1.75 11.9 1,471 36.4 1.06
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including 182.45 182.75 0.30 47.1 6,340 152.8 4.43
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MD777 229.26 230.45 1.19 3.6 238 7.6 0.22
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including 229.26 229.83 0.57 7.1 431 14.3 0.41
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and 232.52 233.82 1.30 141.1 4,357 213.8 6.20
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including 232.52 233.37 0.85 211.4 5,999 311.4 9.03
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Escondida West Sector
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MD699 117.85 118.20 1.00 184.4 1,414 208.0 6.03
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Including 118.20 118.52 0.32 523.7 1,591 550.2 15.96
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MD700 124.00 125.45 1.45 11.4 435 18.7 0.54
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including 124.80 125.10 0.30 41.4 1,142 60.4 1.75
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MD709 181.00 182.00 1.00 13.6 1,184 33.3 0.97
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including 181.33 181.69 0.36 21.5 2,118 56.8 1.65
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Escondida Far East Sector
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MD684 148.98 149.60 0.62 16.8 765 29.6 0.86
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MD688 172.60 175.35 2.75 10.2 179 13.1 0.38
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including 175.05 175.35 0.30 51.8 872 66.3 1.92
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MD692 240.00 242.77 2.77 8.4 6 8.5 0.38
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including 240.00 241.00 1.00 21.5 14 21.7 0.63
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and 245.05 247.20 2.15 2.0 3 2.1 0.06
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and 249.00 252.00 3.00 3.2 5 3.3 0.10
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including 249.00 250.25 1.25 5.3 6 5.4 0.16
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* Gold equivalent grade is calculated by dividing the silver assay
result by 60, adding it to the gold value and assuming 100% metallurgical
recovery.
>>
Exeter's Exploration Manager Matt Williams stated, "The new results demonstrate the continuity of high grade mineralization in the Far West sector of the Escondida Vein. A further 85 diamond drill holes have been drilled with assay results not yet available.
"Within two weeks the Company will have completed the infill drilling considered sufficient to bring a substantial component of the Escondida mineralization into the Indicated Resource category. We have engaged Cube Consulting (Cube) from Perth, Australia to complete the new NI43-101 compliant resource estimate, with a scheduled completion date in April 2010. That estimate is expected to be followed by a planned Q3-2010 preliminary assessment study.
"When the in-fill drilling is finished we will focus exploration on new targets, particularly those situated close to known ore grade mineralisation. Initially we will test the transition area between the Far West zone and the Fomicruz joint venture lands to the west. We will retain 3 drill rigs to test such new targets."
The location of the 28 drill holes reported in the table above is shown on the following plan and longitudinal section. Of the 20 diamond drill holes that returned less significant results, 16 holes returned narrow and/or low grade intersections and 4 holes were poorly mineralized.
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