Cuervo Resources Inc report the commencement of a program ofdiamond drilling on the Bob 1 zone of its Cerro Ccopane ironproject in southern Peru. The first phase of the drilling programis expected to extend over a four month period through September2012, with a minimum of 4,500 meters of drilling to be carried oututilizing up to three drill rigs. Reports on initial drill resultsare anticipated in July of this year. The Bob 1 zone is considered highly prospective, geophysics suggestan iron ore resource potential in excess of 1 billion tonnes. Thispotential quantity of mineralization of undetermined grade isconceptual in nature, and there has been insufficient explorationto define a mineral resource. It is uncertain if furtherexploration will result in the target being delineated as a mineralresource. The Bob 1 zone hosts a broad band of magnetite outcroppingsextending over 3 kilometres, the largest yet identified on theCerro Ccopane property, and bears a geological similarity with thatof three other smaller zones. Initial drilling of those nearbyzones was completed in 2009 and an updated NI 43-101-compliantresource estimate report was released earlier this year. Thatestimate reported an additional 72 million tonnes averaging 52.6%Fe to complement the 55.6 million tonnes averaging 46.7% Fe and50.8 million tonnes averaging 43.7% Fe reported in 2009. Funding of the drilling program on the Bob 1 zone has been providedby Strike Resources Limited of Perth, Australia under the firststage of a CAD 15 million financing agreement entered into withCuervo in July 2011. Strike itself is an important explorer foriron ore in southern Peru through its interest in Apurimac FerrumSAC. The companies believe that a cooperative exploration effort betweenCuervo and Strike will be strategic to the development of the largescale iron ore resource potential of Peru. Mr Brian Berner CEO said "Bob 1 is one of two quite large, but asyet undrilled target zones on the Cerro Ccopane property. We lookforward to results from Bob 1 which show the consistency in gradeand metallurgical properties which previous drilling in smallerneighbouring zones has shown." Source - Cuervo Resources. We are high quality suppliers, our products such as iPhone 4 Silicone Cases Manufacturer , iPad Charging Adapter for oversee buyer. To know more, please visits Bling Bling iPhone 4 Cases.
Related Articles -
iPhone 4 Silicone Cases Manufacturer, iPad Charging Adapter,
|