FOR IMMEDIATE RELEASE
Cuervo Reports Remaining Drill Results from Orcopura Zone at Cerro Ccopane Iron Project in Perú
January 6, 2009 – Toronto, ON
Cuervo Resources Inc. (CNSX-FE; FWB-CRR; “Cuervo” or the “Company”) releases the assay
results from the final five (5) planned drill holes from the Orcopura zone on its Cerro Ccopane
iron ore project in southern Perú; this brings the number of drill holes reported on to a total of
121. These latest results add to and complement the initial Mineral Resource Estimate on the
Orcopura zone (60.5 million tonnes “inferred”, grading 51.5% Fe) which was released in July,
2008. That estimate will be superseded by an updated study now expected to be completed in Q1
2009. Micon International Limited has been contracted for this second estimate.
The Company’s initial NI 43-101-compliant Mineral Resource Estimate on the Orcopura zone
included results from the first 73 drill holes over a strike length of 700 m. The current results,
which include intersections of 53.91% Fe over 148.50 m in ODH – 120 and 51.65% Fe over
146.80 m in ODH – 121, provide further confirmation of the consistent high values of iron
mineralization in the Orcopura zone over a strike length of at least 900 m. The Orcopura zone
was the first of five target zones identified to date on the wholly owned Cerro Ccopane property
to be drilled. Final results from the planned drilling on the Huillque zone of mineralization will
be released in the coming weeks. Cuervo began drilling on the third and fourth (Aurora and
Aurora “B”) zones of known mineralization in December 2008.
TECHNICAL RESULTS
Previous results from the drilling program were announced in fourteen press releases between
October 22nd, 2007 and October 22nd, 2008 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.
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 that did not intersect, or only intersected low grade iron mineralization, including
ODH – 116 and ODH – 119, are still providing valuable geological information regarding the
attitude of post-mineralization structures that appear to be important in controlling the orientation
of the zone of mineralization at Orcopura. 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 preliminary low-intensity
magnetic separation (Davis Tube) testing on selected samples from the early stages of the
exploration program. The preliminary 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. Cuervo plans an ongoing program
of metallurgical testing which will be recommended by Dr. Ekkehart Mertins, a member of the
Company’s advisory board as an expert in iron ore mineral processing.
In addition, the Company has commissioned Sandwell Engineering Inc. to prepare a detailed
transportation study for the Cerro Ccopane property area. This work will be overseen in part by
the Company’s advisory board specialist in transportation, Mr. Frank Hanson.
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 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.