Cuervo Reports Updated Mineral Resource Estimate on Cerro Ccopa

 
FSC / Press Release 
Cuervo Reports Updated Mineral Resource Estimate on Cerro Ccopane Iron Project
in Peru: 56 Million Tonnes Measured and Indicated; 576 Million Tonnes Inferred 
HIGHLIGHTS 
* Overall NI 43-101 compliant resource estimate includes 55.6 million tonne
measured and indicated resource at a grade of 46.7 % Fe, and 576.4 million tonne
inferred resource at a grade of 43.4% Fe. 
* Initial Bob 1 zone inferred resource estimate: 453.5 million tonnes at a grade
of 42.0% Fe over 2,200 meter strike length, open in all directions. 
* Further advanced exploration work recommended to refine resource estimates and
to assess multi-billion tonnes potential outlined by geophysical modeling of Bob
1 and Huillque Norte zones. 
February 26, 2013 - Toronto, Ont. 
Cuervo Resources Inc. (CNSX-FE; FWB-CRR; "Cuervo" or the "Company") is pleased
to announce the filing of an updated National Instrument 43-101 compliant report
on its wholly-owned Cerro Ccopane Iron Project in Peru. The report includes a
measured and indicated mineral resource estimate at Cerro Ccopane of 55.6
million tonnes grading 46.7% Fe and an inferred mineral resource of 576.4
million tonnes grading 42.8% Fe. 
The updated report, prepared by B.J. McKay Ltd of Cornwall, Ontario, follows the
recent completion of a $5.25 million exploration program centered on the Bob 1
zone of the Cerro Ccopane property. It notes eight distinct geological and/or
geophysical targets on the Cerro Ccopane property on which a total of
approximately 23,000 meters of diamond drilling have been completed to date on
three zones (Orcopura, Bob 1 and Huillque).  Minor amounts of drilling have been
completed on two other zones (Aurora N and S) and two other zones have not as
yet been drill tested. As recently reported, additional geophysical surveying
and refined modeling included in the recently completed exploration program
resulted in the identification of an additional anomaly nearby to Bob 1 and an
increased estimate of the geophysical indicated mineralization potential at or
nearby the Bob 1 zone from 1.1 billion to 2.4 billion tonnes. The limits of both
the Bob 1 zone and the newly identified anomaly remain open at depth, along
strike and over their widths. 
The new NI 43-101 report on the Cerro Ccopane property concludes with
recommendations for further advanced exploration work to refine current
resources estimates and to assess, in particular, the multi-billion tonne
potential indicated by geophysical survey modeling of the Bob 1 zone and the
nearby Huillque Norte zone. 
Table 1 below presents summary resource estimate results on the Cerro Ccopane
property. Table 2 presents a summary of target zones identified at Cerro Ccopane
with outlined geophysical potential and activity.  All targets are open on
strike. 
-***- 
Table 1
  Summary of Resource Estimates: Cerro Ccopane Property 
--------------------------------------------------------- 
Zone           Measured &          Inferred 
Indicated
--------------------------------------------------------- 
(million tonnes)   (million tonnes)
--------------------------------------------------------- 
Bob 1                               453.50
--------------------------------------------------------- 
Orcopura         55.50                 50.83
--------------------------------------------------------- 
Huillque                               55.99
--------------------------------------------------------- 
Aurora North                              9.08
--------------------------------------------------------- 
Aurora South                              6.97
--------------------------------------------------------- 
Totals          55.50                576.37
--------------------------------------------------------- 
Table 2 
Summary of Geophysical Potential & Drilling to Date 
--------------------------------------------------------- 
Zone          Geophysical      Drilling to Date 
Potential
--------------------------------------------------------- 
(million tonnes)       (metres)
--------------------------------------------------------- 
Bob 1           2,438                 4,400
--------------------------------------------------------- 
Orcopura            147                16,000
---------------------------------------------------------
 Huillque Norte       1,265          None to date
--------------------------------------------------------- 
Huillque            128                 3,000
---------------------------------------------------------
  Aurora North           18                 1,000
---------------------------------------------------------
  Aurora South           32                 1,100
--------------------------------------------------------- 
Totals           4,028                25,500
--------------------------------------------------------- 
-****- 
This potential quantity of mineralization, of undetermined grade, is conceptual
in nature, and there has been insufficient exploration to define a mineral
resource. It is uncertain if further exploration will result in the target being
delineated as a mineral resource 
The report referred to herein was prepared by Bryan McKay M.Sc. (A.) P. Geo. of
B.J. McKay Ltd. who is a qualified person as defined in NI 43-101 and is for
purposes of NI 43-101 independent of Cuervo Resources Inc. The complete text of
the report will soon be available on SEDAR. 
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. Mr. Spring is the Chief Operating
Officer of Cuervo and a Director of the Company. 
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. 
Cuervo Resources Inc.
247 Major Street,
Toronto, ON,
M5S 2L5   Canada
Tel. 416-203-3957
Fax 416-203-4197 
To view this press release as a PDF file, click onto the following link:
http://www.usetdas.com/pr/CuervoFeb262013.pdf 
Source:  Cuervo Resources Inc. (FE - CNSX) (CRR - FWB)
http://www.cuervoresources.com
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-0- Feb/26/2013 13:02 GMT