Archive for the ‘Exeter Resource Corp. XRA’ Category

Dutton Associates Featured Company: Exeter Resource Corp. (XRA)

Friday, September 12th, 2008

Exeter Resource Corporation (AMEX: XRA) is a Canadian-based mineral exploration company focused on the discovery and development of gold and silver properties in South America. The company is primarily interested in the discovery, evaluation and subsequent mining of gold and silver deposits, mainly in Argentina and Chile. Exeter Resource owns no producing properties and consequently has no operating income or cash flow from the properties they hold.

Exeter’s core property is the 100-percent owned Cerro Moro Gold-Silver Project, located in Santa Cruz Province, Argentina. Drilling has continued using three drill rigs. The company’s first high-grade discovery on the property was the Escondida vein, followed by the Loma Escondida vein, and later the Escondida vein extensions. Within the property, Exeter has generated high-grade to “bonanza grade” drilling results from an extensive epithermal vein system, located 80 miles east of the Cerro Vanguardia gold mine. The company has identified an additional 20 vein targets that are currently being drill tested in their discovery drilling program.

The Caspiche Project, in which the company has an option to own 100% from Anglo American Chile Limitada, is located 8 miles south of Kinross Gold’s Refugio mine, a 6 million-plus ounce gold reserve, and 6 miles north of the very large Cerro Casale gold-copper deposit, a 24 million ounce gold reserve. Exeter’s Caspiche discovery is classified as a “gold-copper porphyry,” a type of deposit common to many of the world’s largest open pit gold-copper mining operations. A number of drill holes indicated the mineralized volume of the Capische property is very substantial by industry standards.

Exeter continues to drill other gold-silver targets throughout the regions of Patagonian Argentina and Chile. The company has gained a strong presence in the region through separate strategic alliances with Cerro Vanguardia, an AngloGold Ashanti subsidiary, and Rio Tinto Mining and Exploration Chile.

Let us hear your thoughts: Exeter Resource Corp. Message Board

Exeter (AMEX: XRA) Shares Jump 14 Percent

Thursday, June 14th, 2007

Exeter Resource Corp. (AMEX: XRA) shares jumped 50 cents, or 14 percent, to $4.09 in today’s afternoon trading, still rocking from yesterday’s news regarding diamond drilling on its Casphiche gold porphyry target in Chile.The company announced it has committed to a minimum 5,000 meters of new reverse circulation and diamond drilling, following up on a drill hole that intersected 304 meters of mineralization gold. The company said in a press release that drilling contracts are in the final stages for the commencement of the new program.

“We expect the properties to be a 10 million ounce plus deposit,” Angus Roxburgh, investor relations for Exeter, told Market News First.

The company declined further comment regarding stock movement or properties at this time.

Exeter operates in South America, in the discovery, evaluation, and mining of gold-silver deposits, primarily focusing on operations in Argentina and Chile.

Exeter announced news earlier this week regarding political developments in Argentina. The company reported a 90-day suspension on the issuance of new environmental permitting related to open pit mining. The governor of Mendoza Province, Argentina, issued the suspension, pending a review of proposed regulations.

The company said the decree is expected to have no impact on its Don Sixto Gold Project.

“We welcome clear environmental regulations in the Province, and a suspension of new environmental approvals is a sensible option that gives the government time to consider the current system in the lead-up to federal, provincial and local elections in October,” said Exeter Chairman Yale Simpson. “The timing of the political process should not disrupt the development of our Don Sixto Project, where we will be focused on data analysis and engineering studies in support of a feasibility study for the next 12 months. We expect the new government to have regulations in place in time for the submission of our Environmental Impact Report, next year.”

In the press release, Simpson added that Exeter’s current exploration has shifted to its Cerro Moro gold and silver project in the Santa Cruz Province as it advances its Caspiche Project in Chile.

“We are truly now a multi-project company, with the exploration expertise and projects inventory to continue to generate new discoveries,” concluded Simpson.