FOR IMMEDIATE RELEASE
Cuervo Reports Consistent Drill Results from Huillque Zone
February 3, 2009 – Toronto, ON
Cuervo Resources Inc. (CNSX-FE; FWB-CRR; “Cuervo” or the “Company”) is pleased to release the assay results from the final six (6) planned drill holes from the Huillque zone on its Cerro Ccopane iron ore project in southern Perú; this brings the number of drill holes reported on from Huillque to a total of 21.
The current results include intersections of 55.54% Fe over 35.60 m in HDH – 21 and 49.92% Fe over 110.60 m in HDH – 17. Only the extreme southern portion of a large magnetic and gravity anomaly and surface mineralization which define the Huillque zone has been tested by diamond drilling to this date.
The Huillque zone is the second of five current targets on the property to be tested by drilling. The results from Huillque have been consistent with those from the Orcopura zone. The Orcopura zone has reported an NI 43-101-compliant “inferred” Mineral Resource Estimate of 60.5 Mt grading 51.5% Fe. This initial estimate, completed in July 2008, was based on the results from 73 drill holes over a strike length of 700 m. An updated report in preparation by Micon International Inc. is expected to be completed in Q1 of 2009. The updated report will take into account all 121 drill holes in the vicinity of the Orcopura zone (over a strike length of 900 m), as well as including the results of new mineral-processing studies.
Cuervo also began diamond drilling on a third zone of known mineralization (Aurora) in December 2008. The Company anticipates that comparable results to those from Orcopura and Huillque will be encountered by the drilling at Aurora.
TECHNICAL RESULTS
Previous results from the drilling programs on the Orcopura and Huillque zones were announced in press releases between October 22nd, 2007 and January 6th, 2009 and included reported intersections of up to 57.31% Fe over 131.25 m (ODH – 01), 41.29% Fe over 356.50 m (ODH – 33) and 51.70% Fe over 361.30 m (ODH – 70).
All drill holes were logged and sampled at the property campsite on the property under the direction of Minera Cuervo’s senior geologist, ing. Abraham Castillo Ll. A nominal sampling interval of 1.5 m is currently being used within sections of typical iron mineralization. Analyses were performed by SGS Minerals Services at their laboratory facilities in Lima (Callao), Perú.
John M. Siriunas, P.Eng., the designated qualified person for Cuervo under the definition of NI43-101. The Company has 30,179,750 shares outstanding (41,856,000 fully diluted).
For further information, please contact Mr. Siriunas, a director and President of Cuervo, at 416-203-3957 x701 or Mr. Tom Berner, Investor Relations, at 416-203-3957 x202. Additional information about Cuervo can be found at the Company’s website at http://www.cuervoresources.com.
The Canadian National Stock Exchange (CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.