New Drill Holes Show Continued Massive Magnetite at Cuervo's Ce

 
FSC / Press Release 
New Drill Holes Show Continued Massive Magnetite at Cuervo's Cerro Ccopane Iron
Project in Peru 
HIGHLIGHTS 
* Hole 6 shows 111 meters grading 41.1% Fe.
* Hole 7 shows 92 meters grading 36.6% Fe
* Results similar to five previously reported holes on 3 kilometer magnetite
outcropping 
October 3, 2012 - Toronto, Ont. 
Cuervo Resources Inc. (CNSX-FE; FWB-CRR; "Cuervo" or the "Company") reports
continued massive magnetite in results of two additional holes drilled on the
Bob 1 zone of its Cerro Ccopane Iron Project in south central Peru. Laboratory
results of the newly reported holes, designated BDH12-06 and BDH12-07, showed
111meters grading 41.1% Fe and 92 meters grading 36.6% Fe, respectively. Hole
BDH12-06 was drilled at -60 degrees E from the same platform as BDH12-01 with
GPS coordinates of 8447200 N and 191596 E while Hole BDH12-07 was drilled
vertically, 195 m N and 178 m W from BDH12-01.  These latest results, from the
ongoing drilling program, are similar to those of five previously reported
holes. The drill program is testing the 1 billion tonne potential of the Bob 1
zone indicated by a 3 kilometers belt of  magnetite outcropping and strong
geophysical signatures. 
Tables 1 and 2 present analytical summaries from BHD12-06 and BDH12-07 
TECHNICAL RESULTS 
Drill holes BDH12-06 and BDH12-07 intersected intervals of massive magnetite
with intervals of an intermediate intrusive. Sulphide mineralization
(predominantly pyrite) is also locally present in all drill holes reported on
the Bob 1 zone. 
Table 1 
Intersection of Bob 1 Zone BDH-12-06
-***- 
Total   Length 
Length >Cutoff
 From   To  Cutoff                Fe   Sio2    S      P      Mn     Cu
 (m)  (m)    (%)    (m)     (m)   (%)   (%)   (%)    (%)    (%)    (%)
------------------------------------------------------------------------
71.30 181.90  -   110.60   107.10 41.1% 21.1%  2.79% 0.078% 0.172% 0.095%
-------------------------------------------------------------------------
71.30 181.90 10%  110.60   102.30 42.6% 19.9%  2.91% 0.080% 0.170% 0.099%
-------------------------------------------------------------------------
71.30 181.90 20%  110.60    89.55 46.6% 16.8%  3.05% 0.089% 0.167% 0.103%
------------------------------------------------------------------------- 
-****- 
Table 2 
Intersection of Bob 1 Zone BDH-12-07
-***- 
Length   Length 
Of     Above
  From    To Cutoff Interval Cutoff Fe   Sio2    S     P     Mn    Cu
  (m)    (m)   (%)     (m)     (m)  (%)   (%)   (%)   (%)    (%)   (%)
-------------------------------------------------------------------------
219.45 311.45   -    92.00   90.65 36.6% 24.5% 2.64% 0.070% 0.223% 0.091%
-------------------------------------------------------------------------
219.45 311.45  10%   92.00   52.45 45.7% 18.0% 3.04% 0.056% 0.161% 0.114%
-------------------------------------------------------------------------
219.45 311.45  20%   92.00   50.85 46.8% 17.2% 3.04% 0.056% 0.158% 0.114%
------------------------------------------------------------------------- 
-****- 
Massive magnetic mineralization has been mapped on surface along more than 3
kilometers at Bob 1 providing the explanation of the geophysical anomaly. The
sulphides when present in the Bob 1 drill cores exhibit similar grain sizes
within the magnetite mineralization that was previously outlined at the
Orcopura, Huillque and Aurora zones some 10 kilometers SSE. Additional
information showing the map location of the current Bob 1 drill holes and the
laboratory results can be found at the Company's website at:
http://www.cuervoresources.com/index.php/properties/cerro_ccopane_property/ 
A nominal sampling interval of 2.0m is currently being carried out within the
sections of typical iron mineralization. Analyses were performed by the
ALS/Minerals Laboratory in Lima Peru which is ISO 9001 certified. The iron (Fe)
analyses were determined by titration methods, the sulphur (S) were carried out
with a LECO furnace. All other analyses, which includes phosphorous (P),
manganese (Mn) and copper (Cu), were 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 were performed on
average of 1 in 17 samples sent to the laboratory. The Company is satisfied with
the reproducibility of the analyses for the elements reported. All drill cores
were logged and sampled at Cuervo's logging/cutting facility in Cusco. 
The current exploration work and content of this release has been carried out
under the supervision of Mr. Velasquez Spring, P.Eng., a qualified person for
Cuervo under the definition of NI 43-101. 
For further information, please contact Mr. Brian Berner, CEO and a Director of
the Company, at 416-203-3957 ext 201 or Mr. Tom Berner, Investor Relations, at
416-203-3957 ext 202. Additional information about Cuervo can be found at the
Company's website at www.cuervoresources.com. 
The Canadian National Stock Exchange (CNSX Markets Inc.) has neither approved
nor disapproved of the contents of this press release. 
The term "iron ore" used within this document means rocks or deposits containing
compounds from which iron can be extracted. This is not meant to imply that the
contained iron can necessarily be extracted at a profit. This document also
contains "forward-looking information" within the meaning of Canadian securities
legislation. This information and these statements, referred to herein as
"forward-looking statements" are made as of the date of this news release or as
of the date of the effective date of information described in this news release,
as applicable. Forward-looking statements relate to future events or future
performance and reflect current estimates, predictions, expectations or beliefs
regarding future events and include, without limitation, statements with respect
to: (i) the amount of mineral reserves and mineral resources; (ii) expected
grades of iron mineralization; (iii) the timing of the Company's exploration
programs and results therefrom; and (iv) the status of negotiations. Any
statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates", "envisages",
"assumes", "intends", "strategy", "goals", "objectives" or variations thereof or
stating that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and may be
forward-looking statements. 
All forward-looking statements are based on the Company's current beliefs as
well as various assumptions made by and information currently available to them.
These assumptions include, without limitation: (i) the presence of and
continuity of iron mineralization at modeled grades; (ii) the capacities of
various machinery and equipment; (iii) the availability of personnel, machinery
and equipment; (iv) the availability and timing of laboratory analysis and
reporting on drill core samples; (v) weather conditions; (vi) reasonable
contingency requirements; and (vii) receipt of community and regulatory
approvals on acceptable terms. 
By their very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that estimates,
forecasts, projections and other forward-looking statements will not be achieved
or that assumptions do not reflect future experience. We caution readers not to
place undue reliance on these forward-looking statements as a number of
important factors could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates assumptions
and intentions expressed in such forward-looking statements. These risk factors
may be generally stated as the risk that the assumptions and estimates expressed
above do not occur, but specifically include, without limitation, risks relating
to variations in the mineral content within the material identified as mineral
reserves and mineral resources from that predicted; variations in rates of
recovery and extraction; developments in world metals and minerals markets;
risks relating to fluctuations in the Canadian dollar relative to other
currencies; increases in the estimated capital and operating costs or
unanticipated costs; difficulties attracting the necessary work force; increases
in financing costs or adverse changes to the terms of available financing, if
any; tax rates or royalties being greater than assumed; changes in mineral
exploration plans due to changes in logistical, technical or other factors,
changes in project parameters as plans continue to be refined; risks relating to
receipt of regulatory and community approvals; political risks, adverse weather
conditions; risks associated with the extreme topography of the areas in which
mineral exploration is conducted; operational and infrastructure risks; and the
additional risks described in the Company's annual financial statements and
management's discussion and analysis for the year ended March 31, 2011. The
foregoing list of factors that may affect future results is not exhaustive. 
When relying on our forward-looking statements, investors and others should
carefully consider the foregoing factors and other uncertainties and potential
events. The Company does not undertake to update any forward-looking statement,
whether written or oral, that may be made from time to time by the Company or on
behalf of the Company, except as required by law. 
247 Major Street, Toronto, ON,
M5S 2L5   Canada
Tel. 416-203-3957
Fax 416-203-4197 
To view this press release as a web page, click onto the link below:
http://www.usetdas.com/pr/cuervo03102012.htm 
Source:  Cuervo Resources Inc. (FE - CNSX) (CRR - FWB)
http://www.cuervoresources.com
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-0- Oct/03/2012 12:01 GMT