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
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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.

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.”

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