Monday, December 5, 2011
Industry Watch: Exeter Resource Preparing Pre-Feasability Study for January
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Al Korelin chats with Rob Grey, VP Corporate Communications of Exeter Resource Corp. about the upcoming PFS at their Caspiche project in Chile. In addition, Mr. Grey is CP Investor Relations with Extorre Gold, who just added 1 million ounces to their Cerro Morro Project in Argentina.
Exeter Resource Corporation is a Canadian public company listed on the TSX and NYSE Amex exchanges. Our focus is the discovery, evaluation and development of gold deposits in the Maricunga district in Chile.
In September, 2010 the Company announced an updated NI43-101 compliant resource* on its giant gold-copper Caspiche porphyry project in the Maricunga district in northern Chile, which showed:
MEASURED AND INDICATED RESOURCES: 21.3 m. ounces of gold, 5.3 billion pounds of copper and 48.4 m. ounces of silver+
INFERRED RESOURCES: 5.1 m. ounces of gold, 1.4 billion pounds of copper and 14.5 m. ounces of silver
The new gold equivalent endowment of Caspiche using only gold and copper now stands at:
INDICATED RESOURCES: 35.9 million gold equivalent ounces +
INFERRED RESOURCES*: 9.1 million gold equivalent ounces.
The measured and indicated resource is 1316 Mt (million metric tons) at a grade of 0.50 g/t gold (grams per metric ton) and 1.14 g/t silver including 1217 Mt at a grade of 0.18% copper.
The additional inferred resource is 458 Mt at a grade of 0.35 g/t gold and 0.98 g/t silver, and includes 449 Mt at a grade of 0.15% copper.
Exeter's 100% owned Caspiche Project in Chile (with a 3% Net Smelter Royalty to Anglo American Chile Limitada) is a gold-copper porphyry system, a type of deposit common to many of the world's largest open pit gold-copper mines. It is located 15 kilometres (8 miles) south of Kinross Gold's Refugio mine (+6 million ounce gold resource), and 10 kilometres (6 miles) north of the very large Cerro Casale gold-copper deposit (24 million ounce gold resource), owned by Kinross Gold (25%)and Barrick Gold (75%).
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