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Gold/Mining/Energy : EXETER RESOURCE CORPORATION (XRC:TSX-V) (EXRCF-OTC) -- Ignore unavailable to you. Want to Upgrade?

To: Joey Two-Cents who wrote (4)	10/15/2005 8:13:29 AM
From: Joey Two-Cents	Read Replies (1) \| Respond to of 14

More excellent news from Exeter Resource XRC . What started as a one vein open pit concept has been expanded to 3 veins opened fro expansion. With these latest drill relases I feel they will be proving up a million ounce resource soon. Seems like the market is asleep to this little gem of a gold company. Exeter Discovers Third Vein System at La Cabeza-Cuello East Friday October 14, 10:00 am ET VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 14, 2005--Exeter Resource Corporation (TSX VENTURE:XRC - News; FWB:EXB) is pleased to confirm the discovery of a third high-grade gold vein system at its La Cabeza gold project - the Cuello East veins. The discovery is located 150 metres east of the main Cuello vein, and 250 metres east of the recently-announced Cuello West discovery (see news release dated September 22, 2005). Preliminary assay results from drilling into the Cuello East veins include intercepts of 3 metres at a grade of 9.0 gram per tonne ("g/t") gold and 9 metres at a grade of 4.2 g/t gold. The new drilling targeted significant surface sampling results announced August 24, 2005. These included sawn surface channel sample traverses of 14 metres at a grade of 2.4 g/t gold and 6 metres at a grade of 30.3 g/t gold. Detailed Results Diamond drill hole LCD-62, intersected 5 metres at a grade of 3.3 g/t gold, from a downhole depth of 22 metres (intercept includes 2 metres at a grade of 5.4 g/t gold from 23 metres), followed by a 9 metre intercept at a grade of 4.2 g/t gold from a downhole depth of 35 metres (intercept includes 0.9 metre at a grade of 23.3 g/t gold and 610 g/t silver from 36.2 metres, and 1.3 metres at a grade of 6.5 g/t gold and 80 g/t silver from 39 metres). Diamond drill hole LCD-24, sited on the same section line as LCD-24 tested the vein at depth. The drill hole intersected 3.85 metres at a grade of 2.4 g/t gold, from a depth downhole of 148.5 metres, followed by a 1 metre intercept at a grade of 5.4 g/t gold, at a depth downhole of 156 metres, followed by a 6.45 metre intercept at a grade of 4.7 g/t gold from a depth downhole of 162 metres (intercept includes 3 metres at a grade of 9.0 g/t gold from 163 metres). Reverse circulation drill hole LCP-155 located approximately 30 metres north of drill holes LCD-24 and LCD-62, intersected 6 metres at a grade of 1.6 g/t gold and 84 g/t silver from a downhole depth of 45 metres. These results are the first three drill holes effectively to test the Cuello East veins. Initial Analysis Mr. Bryce Roxburgh, President and Chief Executive Officer, said: "The Cuello zone is the largest of the four gold mineralized zones on the La Cabeza project. Our conceptual open pit for the Cuello zone developed a single vein only. The discovery of gold mineralization at Cuello West, and now at Cuello East, significantly enhances the resource potential of Cuello. Significantly, all three vein systems at Cuello are open for expansion. Looking ahead, the Cuello West and East discoveries will, with confirmatory drilling, result in the "laying back" of the western and eastern walls of the conceptual open pit. Accordingly, there is significant potential for enhancing the mining economics of both the Cuello zone and the entire La Cabeza project." Additional reverse circulation percussion and diamond drilling is presently being planned as follow-up to the above results. This drilling will be in addition to the 14,000 metre (46,000 feet), three-rig drilling program currently underway. Results for additional exploration drilling will be announced as the program proceeds. All exeter news stories finance.yahoo.com