FOR IMMEDIATE RELEASE
Cuervo Reports Consistent Results from 20 Additional Drill Holes in the Aurora Zones
June 10, 2009 – Toronto, ON
Cuervo Resources Inc. (CNSX-FE; FWB-CRR; “Cuervo” or the “Company”) is pleased to release the final assay results from a program of diamond drilling on the Aurora and Aurora “B” zones at its Cerro Ccopane iron ore project in southern Perú.
The results from the Aurora zones continue to demonstrate grades of magnetite mineralization that are consistent with those previously reported on from the Orcopura and Huillque zones. The Orcopura zone has reported an NI 43-101-compliant Mineral Resource Estimate of 55.5 Mt “measured and indicated” grading 46.75% Fe in addition to 50.8 Mt “inferred” grading 43.68% Fe. The latest results being reported include intersections of 51.05% Fe over 78.50 m in ADH – 06 and 55.60% Fe over 24.30 m in ADH – 08 in the Aurora zone. Intersections in the Aurora “B” zone were found to be somewhat shallower but nevertheless include up to 52.90% Fe over 13.50 m in ADH – 13.
The Aurora zones are the smallest of the known targets on the property. Geophysical modeling of gravity survey data has indicated that there could be a total of 50 million tonnes of mineralization in the two Aurora zones. All the geophysical targets (magnetic and gravity anomalies) that have been drill tested to date (i.e. Orcopura, Huillque, Aurora and Aurora “B”) have been found to contain massive magnetite mineralization; this gives the Company high confidence in the exploration potential for the other large anomalies that have now been identified. The results of the geophysical modeling have shown that the Cerro Ccopane property has the potential to host a total of over 2½ billion tonnes of mineralization. Details of the geophysical results are available on the Company website.
TECHNICAL RESULTS
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.
The reported Iron (Fe) analyses were determined by titration methods, sulphur (S) was carried out with a LECO furnace. All other reported analyses, which include phosphorus (P), manganese (Mn) and copper (Cu), were by performed ICP-AES after a multi-acid (“total”) digestion. Laboratory check analyses were performed on approximately 10% of the samples submitted while field duplicate samples are submitted on a rate of approximately 5% of the total samples sent to the laboratory. The Company is satisfied with the reproducibility of analyses for the elements reported. The following table presents a list of the significant intersections that were sampled during the recent work program. Drill holes ADH – 01 through ADH – 05 have previously been reported but are included here in abridged form for completeness of the presentation of results:
Location maps and further information for all drill holes can be found at http://www.cuervoresources.com.
Most intersections of iron mineralization (magnetite +/- hematite) continue to report relatively high sulphur and copper values. The Company has carried out two programs of preliminary low-intensity magnetic separation (Davis Tube) testing on selected samples from the early stages of the exploration program. These Davis Tube results indicate that most of the contained sulphur-bearing minerals as well as the copper can be removed with limited processing while producing a very high-grade iron ore concentrate. Silica values were also found to be within acceptable limits by analyses carried out as part of this testing. Results of recent mineral-processing tests have been included as part of the updated Resource Estimate on the Orcopura zone.
Exploration work and content of this release has been carried out under the supervision of Mr. John M. Siriunas, P.Eng., the designated qualified person for Cuervo under the definition of NI43-101. The Company has 31,113,750 shares outstanding (41,120,750 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.