Kimber: Resources at Monterde exceed 1.1Moz gold equivalent

Kimber Resources' (TSX: KBR) Monterde gold-silver property in northern Mexico's Chihuahua state now contains 1.1Moz of gold equivalent in all categories including inferred, the Vancouver-based company said in its monthly newsletter. The company expects this figure to increase as it extends drilling beyond the original limits of the property's Carmen deposit but said it is too difficult to estimate the potential for additional resources. The Monterde property is now becoming a prospective target for intermediate mining companies, although Kimber will not decide whether to go into production on its own or to merge with a more senior company until a feasibility study is completed. Meanwhile, the company is searching for growth opportunities in and outside Mexico and is aware of properties in Mexico that could be of "great interest." "Our policy is to examine only those which appear to have a good chance of a million ounces. If one of these meets our criteria, we will do our best to acquire it," the newsletter said. Independent work on a block model resource estimate and pre-feasibility study will continue at Monterde during December and January, while drilling at the property will run until December 17 and start again in mid-January, Kimber said.