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News: Exeter options property next to Caspiche

News bei Exeter Resource Corp.: Weiteres Projektgebiet neben dem Monsterdeposit Caspiche akquiriert!

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Exeter options property next to Caspiche

Exeter Resource Corp (C:XRC)
Shares Issued 86,321,253
Last Close 2/28/2011 $5.20

Tuesday March 01 2011 – News Release

Mr. Bryce Roxburgh reports

EXETER OPTIONS PROJECT ADJACENT TO CASPICHE GOLD-COPPER PORPHYRY, CHILE

Exeter Resource Corp. has entered into an option agreement with Xstrata Copper to acquire 100 per cent of the Sideral project adjacent to its Caspiche gold-copper porphyry property in the Maricunga gold district of Chile.

The Sideral property covers 1,190 hectares and is located immediately east of Exeter’s Caspiche tenure of 1,260 hectares. Previous exploration has highlighted anomalous gold-copper surface geochemistry coincident with geophysical (electrical) anomalies comparable to those that define the Caspiche porphyry. Additional electrical geophysical work and sampling has already begun on the property to further expand and define these anomalies. Preliminary drill testing is expected to commence in early March, 2011.

Justin Tolman, Exeter’s Caspiche project manager, stated: „Global exploration has repeatedly demonstrated that one of the best places to find a new porphyry system is near an existing one. This has been evidenced by recent discoveries close to a number of known porphyry deposits elsewhere in Chile.

„Exeter’s exploration team is very positive on the discovery potential of such a key under-explored block of Maricunga lands. We are particularly keen to apply our porphyry experience to a project located in such close proximity to Caspiche. If there is a discovery to be made, I am confident our team has the experience to make it.

„Drilling on existing geophysical targets at Sideral will commence in early March, immediately following completion of the Caspiche infill drilling program where we have two rigs employed. The aim of that program has been to lift higher-grade inferred mineralization into the measured and indicated categories. We plan to contract additional rigs for the discovery drilling program at both Sideral and Caspiche regional, with a minimum of 3,000 metres planned for each project before the season closes for winter in May.“

The agreement with Xstrata provides for Exeter to acquire 100 per cent of the Sideral property by meeting escalating annual drilling requirements, to a total of 15,000 metres, within four years. After the 15,000 m of drilling is completed, Xstrata has a once-only back-in right to acquire a 60-per-cent interest in the property, provided the discovery of a deposit of greater than 100 million tonnes at plus 0.5 per cent copper has been made. Should Xstrata elect to back in, it will be required to repay Exeter three times its expenditure on the property. In the event that Xstrata does not exercise its back-in right, its interest will revert to a 2-per-cent NSR. Exeter has the right to purchase 50 per cent of the NSR for $10-million, leaving Xstrata with a 1-per-cent NSR.

Justin Tolman, Exeter’s Capsiche project manager and a qualified person within the definition of that term in National Instrument 43-101, has supervised the preparation of the technical information contained in this news release.

We seek Safe Harbor.

Unsere Einschätzung:

Gut – besser – Exeter!

Das Management-Team um Bryce Roxburgh und Yale Simpson macht einfach alles richtig! Exeter bleibt weiterhin ein glasklarer Übernahmekandidat für einen der Majors und wir können nur alle Daumen drücken, dass ein Übernahmeangebot nicht allzu schnell vorgelegt wird damit sich der erzielte Übernahmepreis dann später auch für alle Exeter-Aktionäre wirklich richtig lohnt! Ein Ausnahmeunternehmen!

Beachten Sie unbedingt unseren Disclaimer sowie unseren Hinweis zum “Interessenkonflikt bei Exeter Resource Corp.“.

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