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Market: TSX, AMEX
Sector: Gold Mining
Epic: XRC
News: Latest news
Web Site: Exeter Resource Corporation
Other Articles: 25-05-201004-05-201007-04-2010

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After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Exeter Resource Corporation

Exeter Resource Corporation

Exeter Resource Corporation is one of the most active exploration and mine development companies in South America. The Company has $41 million in cash, no debt and its principal asset : the Caspiche gold-copper porphyry discovery.

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Tuesday, October 27, 2009

Exeter Resources Steps up to TSX

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Exeter Resource Corporation (NYSE-AMEX:XRA, TSX:XRC-T, Frankfurt: EXB) has moved up to a full listing in Toronto as it commenced trading on the Toronto Stock Exchange this morning. Exeter will no longer be listed on TSX Venture Exchange. The Company’s NYSE-Amex and Frankfurt listing remains unchanged.


The TSX, a subsidiary of the TMX Group Inc., is the largest stock exchange in Canada, the third largest in North America and the eight largest in the world by market capitalization.


Exeter Resource Corporation is one of the most active exploration and mine development companies operating in South America. The Company has C$30 million in cash, no debt and two principal assets: the Caspiche gold-copper porphyry discovery and the Cerro Moro high-grade gold-silver deposit.


Exeter’s Executive Chairman Yale Simpson commented on the company’s latest development milestone:


 “The TSX listing is expected to provide a more appropriate trading platform, particularly for institutional investors ... Exeter’s market capitalization reflects the on-going success of our exploration efforts in Chile and Argentina. In particular our Caspiche gold-copper property ... is among the world’s largest gold-copper discoveries in recent years.”


In the statement Mr Simpson also credited the Exeter team’s progress and emphasised the key strategic partnerships with AngloGold Ashanti and Anglo American which directly progressed the exploration work and led to both the Cerro Moro and Caspiche discoveries respectively.


The Caspiche Project, represents the larger of the two major prospects in development by Exeter Resources. In September, Exeter produced a NI 43-101 compliant resource statement, which estimated in-situ inferred resources of 19.6 million ounces of gold, 137 million ounces of silver and 4.84 billion pounds of copper.


Most recently the company began a new 20,000 meter drilling program on the Company’s Caspiche gold-copper Project. The purpose of the program is to define further value in the National Instrument 43-101 compliant inferred mineral resource.


The current drilling programme has two objectives, firstly to define the outer limits of the deposit, beyond the drill holes completed to date. The second objective is to in-fill drill the higher grade central zone to bring it up to an “indicated resource” category. It is intended that the in-fill drilling will confirm the integrity of the coherent central zone that contains a large proportion of the inferred resources.


The company’s other major project, the Argentinean Cerro Morro project located in north-eastern Santa Cruz Province, approximately 70kms southwest of Puerto Deseado. At the Cerro Morro property Exeter has encountered a series of positive drilling results each of which has yield bonanza rated gold grading. The total infill drilling programme has completed165 diamond drill holes to date recovery for 15,000m of core samples for testing. Exploration work at the Cerro Morro property is on-going.

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