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 Trading and Quotation System Inc. (CNQ) under the symbol IRON. 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 250 million tonnes of iron mineralization and perhaps significantly more.
The current exploration focus is on the 1,500 ha Orcopura zone of the 13,000 ha Cerro Ccopane property. To date, Cuervo has reported 80 holes averaging 52.99% iron content over 5,421.41 meters of samples on the Ocupura zone. Importantly, the Orcopura zone is one of five zones 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.
Cuervo currently has three drills working to delineate the Ocorpura zone which will then move on to the Huillque and Aurora zones as the year progresses. Additional metallurgical testing and transportation studies will be conducted in 2008 and, if warranted, property acquisitions will be made.