Welcome to Cuervo Resources Inc.
Cuervo Resources Inc. (“Cuervo”), is a public Canadian exploration company that completed an initial public offering on May 30, 2007. The company has acquired and is drilling properties prospective for iron ore in Perú through its Peruvian subsidiary Minera Cuervo S.A.C. Cuervo Resources Inc. is listed on the Canadian National Stock Exchange (CNSX) under the symbol FE. The company also trades on the Frankfurt Exchange under the symbol CRR.
Cuervo was formed in early 2005 with the ambition of capitalizing on the then emerging strength of international iron ore markets, particularly those in the Pacific Rim. Perú was identified as a particularly attractive exploration target, principally because of its well established mining tradition and infrastructure, and its well regarded legal and banking systems. The Board of Directors provided strategic insight, drawing on their background and knowledge of iron ore markets and geology. Today, Cuervo holds an unencumbered 100% interest over 25,000 ha of iron prospective properties in Perú. These properties hold, in the opinion of management, good prospects for finding upwards of a billion tonnes of commercially exploitable iron mineralization.
The current exploration focus is on the 14,000 ha Cerro Ccopane property. To date, Cuervo has performed over 25,000 m of drilling and reported resource estimates of: 55.5 million tonnes “measured and indicated”, grading 46.7% Fe and 51 million tonnes “inferred”, grading 43.7% Fe from the Orcopura zone; 56 million tonnes “inferred”, grading 53.5% Fe from the Huillque zone; 16 million tonnes “inferred”, grading 49.3% Fe from the Aurora zones; and 453.5 million tonnes “inferred”, grading 42.0% Fe from the Bob1 zone. Importantly, three other target zones have been identified on the Cerro Ccopane property by surface showings and geophysics. In November 2007 the company initiated metallurgical testing of core samples to determine the amenability of the material to magnetic separation of contaminants and by-products. That testing has indicated that most contaminates (sulphur and copper) can be removed, yielding an upgraded iron concentrate, grading 66% to 69%. A preliminary transportation study was also commissioned which supported the feasibility of moving iron from Cerro Ccopane to the Pacific tidewater port at Matarani. That report has been succeeded by a more comprehensive study completed in 2009.