News: Exeter’s oxide PFS says Caspiche has 1.4 million oz Au

News bei Exeter Resource Corp.: 1,4 Mio.  Unzen Gold alleine in der Oxid-Zone!

Exeter’s oxide PFS says Caspiche has 1.4 million oz Au

Exeter Resource Corp (C:XRC)
Shares Issued 86,321,253
Last Close 3/14/2011 $5.08

Tuesday March 15 2011 – News Release

Mr. Bryce Roxburgh reports

EXETER REPORTS PROGRESS ON THE CASPICHE STAND-ALONE OXIDE PRE-FEASIBILITY STUDY

Exeter Resource Corp. has made progress on a stand-alone oxide-ore prefeasibility study (PFS) that is expected to be completed in the second quarter of 2011. The oxide-ore PFS will be followed by the full project PFS in Q3-2011. The later PFS will include mining and leaching of the oxide material but on a far shorter timeline.

Highlights of the metallurgical program completed to date are as follows:

• The oxide project contains 1.4 million ounces gold and 5.9 million ounces silver(i) with a 0.3:1 waste to ore ratio.

• The stand-alone oxide PFS will model a 35,000 metric tons/day valley- fill heap leach operation to recover approximately 1.0 million ounces of gold and 1.5 million ounces of silver over 8 years. Projected gold production will be about 150,000 ounces/year in the early years, decreasing to 120,000 ounces/year in later years.

• A large scale column leaching program on oxide ore samples, involving 29 separate column tests provided data supporting heap leaching gold recoveries of 70% to 75%, based on a 50mm (2 inch) crush size. Silver recoveries averaged 25%.

• A 40 metric ton pilot plant sample recently collected from various mineralized sites within the oxide deposit indicated 70% of the mined material may not need crushing as the material breaks naturally to -50mm.

• The column reagent consumptions averaged 1.5 kg/tonne sodium cyanide and 3 kg/tonne lime. Typically, heap leach operations consume approximately 40 to 65% of the cyanide consumed in column tests.

• The PFS will provide capital and operating cost estimates for the complete development of the oxide project. It is due to issue in Q2- 2011.

Exeter’s Chairman, Yale Simpson stated „our heap leaching simulations are providing very good recoveries for the oxide deposit that forms a gold-only blanket of mineralization overlying the main Caspiche gold-copper resource. As the oxide deposit must be removed to access the lower sulphide ores, we are encouraged that the potential exists for an economically viable stand-alone project, independent of the much larger oxide-sulphide project.

„Should the outcome of the oxide PFS study be positive, it will provide the option of moving immediately into detailed feasibility studies and mine permitting. This option could provide a far shorter timeline to production than the full oxide-sulphide project“.

Oxide Ore Treatment

The Caspiche deposit includes 100 million metric tons of shallow oxide ore containing 1.4 million ounces of gold with virtually no contained copper, allowing a simple treatment by cyanide leaching to be considered. Exeter is performing a PFS on a stand-alone valley-fill style heap leach operation processing 35,000 metric tons/day of ore at a waste to ore ratio of 0.3:1. Almost all the waste from this shallow open pit will be spread and compacted to line the heap leach valley-fill site prior to putting down an impermeable plastic liner.

Testwork at McClelland Laboratories of Sparks, Nevada, confirms that the ore type is very responsive to conventional heap leaching, with indicated column leach gold recoveries of 70% to 75% for ore crushed to 80% passing 50mm. The leach kinetics were rapid with 80% of the soluble gold generally leached within 30 days.

In all, McClelland received 5.5 metric tons of large diameter PQ core from 7 metallurgical drill holes which tested the extent and depth of the oxide zone. 11 composites made from this material were tested at 12.5mm (needing agglomeration), 25mm and 50mm, depending on the composite weight available.

The finer crush sizes provided more rapid kinetics, but because the overall gold recovery was not significantly greater than the 50mm crush, the latter was chosen as the optimum case. The coarser crush size has the advantage of not requiring agglomeration, a simpler crushing configuration, lower capital costs and lower energy requirements. The ore, at a 50 mm crush, can be placed directly on a plastic membrane without the need for a protective layer.

Cyanide consumption in the 50mm tests averaged 1.5 to 2.5 kg/tonne over the 100 to 130 day test period, however the planned leach cycle for pad construction will be 30 or possibly 40 days, and operational consumptions are expected to be well under 1.0 kg/tonne. Lime consumption averaged 3 to 4 kg/tonne.

Last month Exeter also tested a bulk sample from the oxide blanket to help in crushing plant design. Approximately 40 metric tons were excavated and sized at a Santiago laboratory. The results showed a natural breakage of the rock to 70% finer than 50mm. This breakage characteristic has the potential to significantly reduce the quantity of material requiring crushing.

Jacobs Engineering (formerly Aker Solutions) has determined that the water requirement for a 35,000 metric tons/day heap leach operation will be less than 100 litres/second. That requirement can be met by the recently optioned 300 litres/second of consumable water rights recently reported by the Company.

Jerry Perkins, Exeter’s VP Development and Operations and a „qualified person“ within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.

We seek Safe Harbor.

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Unsere Einschätzung:

Eine super News mit schlechtem Timing. Auf Grund des stark fallenden Gesamtmarktes auf Grund der Ereignisse in Japan (bei übrigens relativ stabilem Gold- und Silberpreis) dürfe die Aktie von heut nicht von dieser News profitieren. Aus unserer Sicht könnten gewiefte Anleger versuchen auf dem stark ermäßtigten Niveau Ihre Position aufzustocken.

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

Michael Adams

Michael Adams ist seit mehr als 30 Jahren erfolgreich am Aktienmarkt tätig – sein Schwerpunkt liegt dabei auf Investments in Unternehmen mit geringer Marktkapitalisierung (Small- und Microcaps) aus den Bereichen Rohstoffe, Technologie und Healthcare. Er ist Chefredakteur und Herausgeber von Stock-Telegraph.com, Schirmherr von Aktienjagd.com sowie Betreiber des Börseninformationsportals CEO-Roaster.com. Mehrmals im Jahr ist er auf der Suche nach neuen Anlagetrends vor Ort in Kanada und den USA unterwegs und spricht dabei direkt mit den „Machern“ und Vorständen zukunftsträchtiger Unternehmen. Dieses exklusive Hintergrundwissen teilt er über seine Börsenpublikationen mit einem spekulativ orientierten und performance-hungrigen Anlegerpublikum.