ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

CUA

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:CUA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

CuOro Intersects 12 Metres of 4.28% Copper

05/06/2012 8:00am

Marketwired Canada


CuOro Resources Corp. (TSX VENTURE:CUA)(FRANKFURT:6BC) "CuOro" or the "Company"
is pleased to announce additional drill results from its 100% owned Colombian
Santa Elena Copper-Gold Project. The company currently has 3 drill rigs on the
property continuing its Phase One 25,000 metre drill program. To date a total of
88 drill holes have now been completed with approximately 17,720 meters drilled
(see Figure 1). 


Highlights:



--  Hole SEDDH-83 intersected 12.0 meters of 4.28% copper at a down-hole
    depth of 28 meters in a newly discovered massive sulphide body 
--  Hole SEDDH-79 intersected 10.0 meters of 3.21% copper at a down-hole
    depth of 42 meters 
--  SEDDH-81 intersected 9.0 meters of 1.51% copper 
--  Hole SEDDH-062 intercepted semi-massive sulphide mineralization at a
    down hole depth of 37.0 meters with an interval of 5.0 metres at 1.12%
    Cu 
--  Hole SEDDH-058 intercepted three distinct mineralized zones between
    depths of 29.6 meters to 114.5 meters down-hole with intervals of 6.6
    metres @ 0.81% Cu, 8.0 meters @ 0.52% Cu, and 6.0 meters @ 0.40% Cu 

TABLE 1: DRILLING ASSAY RESULTS                                             
----------------------------------------------------------------------------
Drill          From       To   Length    Cu      UTM       UTM              
Hole            (m)      (m)      (m)     %     East     North  Azimuth  Dip
----------------------------------------------------------------------------
SE-DDH-56      61.5     67.5      6.0  0.39 476478.9  754660.1      150  -60
----------------------------------------------------------------------------
SE-DDH-58      29.6     36.2      6.6  0.81 476478.2  754660.5      150  -85
and            70.2     78.2      8.0  0.52                                 
and           108.5    114.5      6.0  0.40                                 
----------------------------------------------------------------------------
SE-DDH-61      10.8     12.3      1.5  1.33 476345.6  754547.3      110  -45
----------------------------------------------------------------------------
SE-DDH-62      37.0     47.0     10.0  0.86 476479.0  754661.5      150  -45
including      37.0     42.0      5.0  1.12                                 
and            85.0     90.0      5.0  0.39                                 
----------------------------------------------------------------------------
SE-DDH-65      19.8     30.8     11.0  0.38 476475.8  754661.8      290  -80
----------------------------------------------------------------------------
SE-DDH-69     112.0    130.5     18.5  0.58 476863.0  755280.7      180  -55
----------------------------------------------------------------------------
SE-DDH-79      42.0     52.0     10.0  3.21 476469.6  754708.6      175  -55
----------------------------------------------------------------------------
SE-DDH-80     128.5    139.0     10.5  0.29 476832.9  755266.6      180  -50
----------------------------------------------------------------------------
SE-DDH-81      72.5     81.5      9.0  1.51 476457.4  754592.7      125  -45
----------------------------------------------------------------------------
SE-DDH-81A     78.0     83.0      5.0  1.27 476502.3  754561.3      125  -45
----------------------------------------------------------------------------
SE-DDH-83      28.0     40.0     12.0  4.28 476467.4  754708.5      235  -45
----------------------------------------------------------------------------
                                                                            



All other drill holes not listed in the table above did not return any
significant economic values. All widths represent down-hole core lengths and the
true widths are unknown at this stage. Average grades are calculated by the
average weighted length of each individual intercept over the entire length of
the intercept. 


To view, Figure 1: Map of all CuOro Drill Holes to Date, please visit the
following link:


http://media3.marketwire.com/docs/796137A.jpg

To view, Figure 2: Map of Significant CuOro Drill Holes with Assays, please
visit the following link:


http://media3.marketwire.com/docs/796137B.jpg

CuOro Resources President & CEO, Robert Sedgemore stated "We continue to advance
our exploration at the Santa Elena with both geophysical surveys and drilling.
The down-hole Pulse EM surveys have provided significant information that has
allowed us to better target our drilling. These new drill results are very
encouraging, and demonstrate significant mineralization throughout our
property." 


Drill holes SEDDH-79 and SEDDH-83 tested an off-hole geophysical anomaly that
was modeled from various drill holes. The off-hole conductor is located
approximately 125 meters west of the TEM-2 outcrop. Initial modeling showed a
100 meter long conductive body parallel and near surface striking east-west.
Both holes targeted the central portion of the conductor and intercepted massive
sulphide mineralization less than 40 meters from surface. This massive sulphide
body is currently being drilled to delineate the size and extent of the body. 


Drill holes SEDDH-69 and SEDDH-80 tested an off-hole geophysical anomaly that
was situated in the TEM-1 area located halfway between the TEM-1 massive
sulphide outcrops and the exploration tunnel. Both holes intersected
semi-massive sulphide mineralization where the off-hole conductor was modeled.


Drill hole SEDDH-058 encountered three distinct zones of mineralization in the
TEM-4 area. Each mineralized zone consisted of disseminated and stringer type
mineralization. 


The drilling to date south and west of the TEM-2 area, towards the San Julian
Creek, has shown very encouraging results with intercepts of 40 to 50 meters of
disseminated sulphides in some areas consisting of phyrrotite, pyrite, and
chalcopyrite. These intercepts indicate that the drilling program is narrowing
the gap to the location of the main massive sulphide ore body(s). 


Exploration Update

The company currently has Crone Geophysics and Exploration Ltd. on site
conducting down-hole pulse EM surveys. Down hole measurements are being made at
5 metre intervals to identify any possible conductive off-hole targets. The
company has received results from numerous drill holes that have been surveyed.
In general, results from the survey have been very good to excellent. Many of
the down-hole EM results display a strong correlation with mineralization - that
being outcropping massive sulphides and known mineralization at depth. The
presence of geophysical anomalies spatially associated with known mineralization
is extremely encouraging. Likewise, several of the conductors that have been
modeled are new exploration targets. 


The company prioritized the geophysical anomalies based on their size and
strength, and concentrated on conductors - modeled from several different holes
- that overlapped. The company is currently drill testing these targets.


QA/QC

Sampling of the diamond drilling, and sample preparation, were performed by
CuOro personnel and were carried out under strict protocols. Samples were taken
every 1m and split in half to yield seven to ten kilogram samples. Drill sample
recovery was generally in excess of 90%. CuOro has a rigorous QA/QC program to
control the chain-of-custody of samples and the insertion of blanks, duplicates,
and certified reference standards in each batch of samples. Samples were sent to
SGS in Medellin where they were dried, crushed, pulverized. After preparation of
the samples they were sent to SGS in Lima and assayed. All gold assays were
obtained by standard 50g fire assaying with AA finish. All copper, silver, and
zinc assays reported in the press release were obtained by four-acid dissolution
followed by ICP measurement. 


The above information has been prepared under the supervision of Michel Rowland,
P.Geo., who is designated as a "Qualified Person", and who has reviewed the
information and has verified the authenticity and validity of the data. 


CuOro Shareholder Consent for Transaction with Pacific Road Resources Fund II

Additionally, the company would like to remind all shareholders of the recent
transactions accounted on May 28th with Pacific Road Resources Fund II. The
Board of Directors of CuOro unanimously recommends that CuOro shareholders
consent to the transactions with Pacific Road and urge all shareholders to
approve the proposed transaction agreement, as fully described on SEDAR at
www.sedar.com, including Pacific Road potentially becoming a "control person" of
CuOro under TSXV rules.


In connection with the Agreement, CuOro hereby requests that you execute the
attached Consent addressed to CuOro and the TSXV. If you have any questions
concerning the Consent, please contact Dave Doherty at CuOro
(ddoherty@cuororesources.com) or one of our lawyers at Cassels Brock: Andrea
Fitzgerald (afitzgerald@casselsbrock.com) or Jake Bullen
(jbullen@casselsbrock.com).


Please execute and return via PDF to ddoherty@cuororesources.com or fax to
1.866.728.1687 the Consent as soon as possible.


Please click here to download the Shareholder Consent form

About CuOro Resources Corp.

CuOro's growth strategy has been to identify mineral properties that have
significant potential to develop large scale resources in well-established and
mining friendly districts such as Colombia. Management looks to leverage its
exploration and development expertise to bring additional resources and value to
shareholders and to reduce development risk and expense through its focus on
community relations, corporate and social responsibility. With approximately $12
million in the treasury, the Company will continue to look for additional
opportunities that can bring value to the Company and its shareholders through
its approach to business. The company is committed to upholding the highest
environmental and social standards while focusing on delivering the financial
growth its shareholders expect.


For further information regarding CuOro, see CuOro's disclosure documents on
SEDAR at www.sedar.com.


On Behalf of the Board of Directors of CuOro,

Robert Sedgemore, President & CEO

Forward Looking Statement

Statements contained in this news release that are not historical facts
constitute "forward-looking statements" or "forward-looking information" within
the meaning of applicable securities laws and are based on expectations,
estimates and projections as of the date of this release. Forward-looking
statements include, without limitation, possible events, statements with respect
to possible events, the future price of gold and silver, the realization of
mineral resource estimates and success of exploration activities. The words "is
expected" or "estimates" or variations of such words and phrases or statements
that certain actions, events or results "may" or "could" occur and similar
expressions identify forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company as of the date of such statements, are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. The estimates and assumptions of the Company
contained in this release which may prove to be incorrect, include, but are not
limited to, (1) the discovery and expansion of mineral resources on the
Company's Property being consistent with the Company's current expectations; (2)
the implementation of Colombia's mining law and related regulations and policies
being consistent with the Company's current expectations; (3) certain price
assumptions for gold and silver. Known and unknown factors could cause actual
results to differ materially from those projected in the forward-looking
statements. Such factors include, but are not limited to: fluctuations in the
spot and forward price of gold or certain other commodities; changes in national
and local government legislation, taxation, controls, regulations and political
or economic developments in Canada, Colombia or other countries in which the
Company does business or may carry on business in the future; business
opportunities that may be presented to, or pursued by, the Company; operating or
technical difficulties in connection with mining activities; the speculative
nature of gold exploration and development, including the risks of obtaining
necessary licenses and permits; diminishing quantities or grades of reserves;
and contests over title to properties, particularly title to undeveloped
properties.


In addition, there are risks and hazards associated with the business of gold
exploration, development and mining, including environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins, flooding and
gold bullion losses (and the risk of inadequate insurance, or the inability to
obtain insurance, to cover these risks). Many of these uncertainties and
contingencies can affect the Company's actual results and could cause actual
results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, the Company. There can be
no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Forward-looking statements are provided for the purpose of
providing information about management's expectations and plans relating to the
future. All of the forward-looking statements made in this release are qualified
by these cautionary statements and those made in our other filings with the
securities regulators in Canada. These factors are not intended to represent a
complete list of the factors that could affect the Company. Although the Company
believes that the expectations in the forward-looking statements are reasonable,
actual results may vary, and future results, levels of activity, performance or
achievements cannot be guaranteed.


1 Year Chart

1 Year  Chart

1 Month Chart

1 Month  Chart