Proactiveinvestors recommends
Additional Information
Market: TSX AMEX
Sector: Gold Mining
EPIC: XRC
Latest Price: 3.67  (4.56% Ascending)
52-week High: 5.64
52-week Low: 2.54
Market Cap: 319.86M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Exeter Resource Corporation
www.exeterresource.com

Exeter, a Canadian exploration company, controls 100% of the world class Caspiche gold-copper discovery in Chile. The Company has a treasury of $74 million and no debt.

Full Exeter Resource Corporation profile here
Pdf

Exeter’s Cerro Morro project continues to return excellent drill results

3rd Feb 2010, 3:14 pm
Exeter’s Cerro Morro project continues to return excellent drill results

Exeter Resource Corporation (“Exeter”) (NYSE AMEX: XRA, TSX: XRC, FSE: EXB) reported more high grade and bonanza grade gold intersects from in-fill drilling at the Cerro Moro project in Santa Cruz Province, Argentina.  Santa Cruz province is one of the most sought after locations for gold explorers and producers alike, with a string of discoveries made in recent years and several mid-tier and top-tier gold and silver companies active in the area.


Exeter for its part, has been diligently advancing Cerro Moro, and announced just a few weeks ago that it intends to spin the project  - and $25 million in cash – into a separate company.   Today’s drill results, which were aplenty, continued to highlight the potential of the project; the most impressive result emanated from drill hole MD644 which returned 5.38 meters at an average grade of 149.9 grams per tonne gold equivalent. Exeter calculates gold equivalent grades by dividing the silver assay result by 60, adding it to the gold value and assuming 100% metallurgical recovery.  Exeter released assay results from 28 holes in total today which were all drilled in the ‘Far West’ sector of the Escondida Vein. 12 of the 28 holes reported high grade gold.


 “Within two weeks the Company will have completed the infill drilling considered sufficient to bring a substantial component of the Escondida mineralization into the Indicated Resource category,” Exeter’s Exploration Manager Matt Williams stated. “When the in-fill drilling is finished we will focus exploration on new targets, particularly those situated close to known ore grade mineralisation. Initially we will test the transition area between the Far West zone and the Fomicruz joint venture lands to the west. We will retain 3 drill rigs to test such new targets.”

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.