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Exeter Resource Corporation
TSX VENTURE: XRC
AMEX: XRA
FRANKFURT: EXB
Jun 26, 2007 14:31 ET
Exeter Drilling Extends High-Grade Gold and Silver Mineralization at Cerro Moro
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2007) - Exeter Resource Corporation (TSX VENTURE:XRC)(AMEX:XRA)(FRANKFURT:EXB) ("Exeter" or the "Company") reports that high-grade gold and silver encountered in six new diamond drill holes have extended the known mineralization in the Escondida vein area, at its Cerro Moro project, Argentina.
Highlights of the new results include the following intervals from holes at significant distances from each other:
Hole MD095 - Escondida West Vein, interpreted to be a faulted offset, 300 metres ("m") to the northwest, of the main Escondida East vein structure:
- 2.10 metres at a grade of 65.7 grams per tonne ("g/t") gold and 2218 g/t silver, including 0.45 metres at a grade of 246.0 g/t gold and 5,450 g/t silver.
Hole MD087 - Escondida East Vein, 300 metres east of high-grade mineralization announced June 7, 2007:
- 2.01 m at a grade of 19.1 g/t gold and 409 g/t silver, including 1.04 m at a grade of 35.9 g/t gold and 747 g/t silver.
Hole MD092 - Loma Escondida Vein, 500 metres to the north of the Escondida East vein:
- 1.40 m at a grade of 51.2 g/t gold and 1,679 g/t silver, including 0.77 m at a grade of 90.9 g/t gold and 2,930 g/t silver.
Drilling is continuing on the Escondida vein structures with a second reverse circulation/diamond UDR-650 drill rig now on site.
Exeter's Exploration Manager, Matt Williams, commented: "Drilling at Cerro Moro is focused currently on the high-grade Escondida vein system, a target area more than one kilometre long and half a kilometre wide.
"The Escondida system remains open both laterally and at depth, and is part of the much larger Esperanza-Escondida-Carla trend, some five kilometres long by two kilometres wide. To identify targets for drilling in this much larger area, we have conducted detailed geological mapping, rock chip sampling and geophysical surveys (gradient array induced polarization-resistivity survey "IP" and detailed ground magnetics).
"That work has identified a number of targets with similar "signatures" to the Escondida vein system. These targets are largely under a shallow veneer of younger sediments. We will continue to define these targets in preparation for trenching and drill testing."
To view the map accompanying this press release please click on the following link: ccnmatthews.com
Detailed Drilling Results
Significant assay results from the new drilling, at a cut-off grade of 1.0 g/t gold equivalent(i), are given below:
Table 1: Significant Drill Results - Escondida Vein System - Cerro MoroProject
------------------------------------------------------------------------ Gold From To Width Gold Silver EquivalentDrill Hole (m) (m) (m) (g/t) (g/t) (g/t)(i)------------------------------------------------------------------------MD087 30.06 32.07 2.01 19.1 409 25.9------------------------------------------------------------------------ including 31.03 32.07 1.04 35.9 747 48.3------------------------------------------------------------------------MD092 18.90 20.30 1.40 51.2 1679 79.2------------------------------------------------------------------------ including 19.23 20.00 0.77 90.9 2,930 139.7------------------------------------------------------------------------MD093 15.92 16.39 0.47 2.6 66 3.7------------------------------------------------------------------------MD094 12.49 12.79 0.30 4.8 348 10.6------------------------------------------------------------------------MD095 40.10 42.00 1.90 1.6 82 3.0------------------------------------------------------------------------ and 43.85 45.95 2.10 65.7 2,218 102.7------------------------------------------------------------------------ including 43.85 44.30 0.45 246.0 5,450 151.6------------------------------------------------------------------------MD096 10.20 12.90 2.70 18.8 364 24.8------------------------------------------------------------------------ including 11.00 12.00 1.00 44.6 919 59.9------------------------------------------------------------------------
(i) Gold equivalent grade is calculated by dividing the silver grade by 60, adding the result to the gold grade for the interval, and assuming 100% metallurgical recovery. |
