Cuervo Amends NI 43-101 Technical Report on Cerro Ccopane Iron Project: Resource Estimates Not Affec
09.09.2013 | FSCwire
As a result of a review by staff of the Ontario Securities Commission, we are issuing the following news release regarding our disclosure on the Cerro Ccopane property.Toronto, September 09, 2013 - Cuervo Resources Inc. (CNSX-FE; FWB-CRR; "Cuervo" or the "Company") reports the results of an Ontario Securities Commission ("OSC") staff review of the Company's NI 43-101 Technical Report filed February 26, 2013 with respect to the Cerro Ccopane Iron Project in south central Peru. The review was conducted as part of a targeted review of 50 selected Form 43-101F1 Technical Reports filed by Ontario mining issuers.
As a result of the OSC staff review Cuervo's Technical Report filed on February 26 with an effective date of February 25, 2013 was amended on August 28, 2013 to address the following: 1) provide all the current mineral resource estimates on the Cerro Ccopane property, 2) report exploration target information in compliance with section 2.3(2) of NI 43-101, 3) include existing mineral processing results, 4) disclose the assumptions for the cut-off grade for the Bob 1 deposit, and 5) use the updated Form 43-101F1 for the technical report.
The OSC review is now completed, and the segregated resource estimates contained in the February 25, 2013 NI 43-101 report on the Cerro Ccopane iron property have not been affected. Those estimates are: an indicated resource at the Orcopura zone of 55.6 Mt at a grade of 46.7% Fe using a cut-off grade of 20%; and a combined inferred resource of 576.4 Mt at a grade of 43.4% Fe using a weighted average cut-off grade of 13.4% Fe at the Orcopura, Huillque, Aurora and Bob 1 zones.
The amended Technical Report has been filed at www.sedar.com and is available through the company website which also has been revised to address exploration target disclosure at www.cuervoresources.com/index.php/properties/cerro_ccopane_property/.
The content of this release has been prepared 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.
The Canadian National Stock Exchange (CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.