Kimber Resources Inc. (TSX: T.KBR, Stock Forum) announced results from its underground rehabilitation and sampling program within the historic Carmen Level 1, underground workings of the Carmen deposit at the Monterde gold-silver project in Chihuahua, Mexico.
The underground work program initiated at the Carmen deposit was aimed at providing more than 650 metres of underground access to high-grade gold-silver mineralized structures.
According to the Kimber Resources press release, levels rehabilitated currently include Hilos Mine levels 0 and 1 and Carmen Mine levels 1 and 3
Level 1 is the middle and most extensive of three levels developed on the Carmen deposit. Assay results from Level 1 at Carmen show significant strike lengths of high grade gold and silver mineralization remaining on the vein structure that were not removed by mining in the 1930's and 1940's.
Highlights of the sampling include 2.5 metres grading 5.12 grams per tonne gold and 246.5 grams per tonne silver and 1.1 metres grading 14.92 grams per tonne gold and 503.2 grams per tonne silver.
Kimber owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the Monterde property, where three gold-silver mineral resources have already been defined.
On Tuesday morning, Kimber was trading at $0.27 a share. The company has a market cap of $22.4 million, based on 83 million shares outstanding. The 52-week high and low was $1.17 and $0.25 respectively.