Drilling Report
Uruguay Mineral Exploration Inc
Uruguay Mineral Exploration Inc. Announces Results for Arenal Deeps
Drill Including 16.1 Meters at 10.3 g/t Au and 40.2m at 3.43g/t
Uruguay Mineral Exploration Inc (“UME” or the “Company”) (TSX
VENTURE:UME) (LSE:UGY) is pleased to report results from the first six
infill and extension drill holes for the recently reported Arenal Deeps
resource. These six holes are part of a larger 25m x 25m infill and
extension program to better define this resource for possible
underground exploitation. Three of the six holes, ALDD103, ALDD105 and
ALDD107 intercepted better than predicted grades and widths: 16.1 meters
at 10.3 g/t from 341.8m, 15.15m at 2.62 g/t from 269.35m and 40.2m at
3.43g/t from 321.8m respectively.
Holes ALDD104 and 106 confirmed the predicted grade and thickness from
the resource model and ALDD102 re-defined the limit to mineralization on
this section.
Intercepts include:
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HOLE ID
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Intercept (1g/t)1g/t)
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FROM
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ALDD103
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16.1m @ 10.3g/t
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341.80
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Includes
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9.85m @ 15.49g/t
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344.25
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ALDD103
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9.7m @ 2.54g/t
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362.30
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Includes
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6m @ 3.58g/t
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362.30
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ALDD103
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2.25m @ 4.68g/t
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433.45
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ALDD104
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3.1m @ 2.57g/t
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241.90
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ALDD104
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4.95m @ 2.31g/t
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246.90
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ALDD104
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3m @ 2.82g/t
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322.10
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ALDD105
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15.15m @ 2.62g/t
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269.35
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Includes
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5.55m @ 4.7g/t
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269.35
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ALDD106
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5.09m @ 2.74g/t
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250.16
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ALDD107
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40.2m @ 3.43g/t
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321.80
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Includes
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6.25m @ 5.67g/t
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321.80
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And
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5.45m @ 3.59g/t
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333.95
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And
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11.35m @ 4.27g/t
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341.45
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And
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5.5m @ 4.57g/t
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356.50
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ALDD107
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10.95m @ 1.77g/t
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367.70
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Includes
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4.1m @ 2.94g/t
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369.90
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Drill hole intercepts are composites using a 1.0 g/t cutoff and may
include up to 2 continuous meters below the 1 g/t cut off. (Drill
hole thickness reported, approximate true thickness)
Resource definition drilling continues with two diamond core drills
currently dedicated to the estimated 18,000 meter program. It is
anticipated that infill and extension drilling campaign of Arenal Deeps
should be completed by January 2010.
Geo-mechanical data and samples are being collected during the current
program as part of a comprehensive geotechnical study to define rock
quality for underground operations.
The underground pre-feasibility study by Golder Associates S.A. is now
expected to be released by mid July 2009.
David Fowler quote “The first six holes of our Arenal infill program
have exceeded expectations and have demonstrated the continuity of
higher grade mineralization. It is anticipated that these holes will
improve the geological resource currently being used for the underground
pre-feasibility study. ”
ENDS
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Editors’ note: Uruguay Mineral Exploration Inc. is a gold producer and
exploration company focused on identifying and developing mineral
opportunities in Latin America. UME is a fully integrated mining
company, possessing the skills necessary to explore and develop its
discoveries. The Company operates the only producing gold mine in
Uruguay (San Gregorio), and is also the leading mineral exploration
company in Uruguay having assembled an exploration portfolio based on
gold, base metals and diamond prospects.
Uruguay Mineral Exploration Inc. is quoted in Canada (TSXV) and London
(AIM) and Matrix Corporate Capital LLP is its Nominated Adviser and
Broker.
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For further information, please contact:
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Uruguay Mineral Exploration Inc
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Tony Shearer, Chairman: +44 20 7602-1570; tonyshearer@btinternet.com
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David Fowler, CEO: 598 2 6016354; urumin@ume.com.uy
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Matrix Corporate Capital LLP
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Louis Castro, +44 (0) 203 206 7209
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Tim Graham, +44 (0) 203 206 7206
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Investor Relations in North America
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Susan Borinelli, Breakstone Group: +1 646-330-5907; sborinelli@breakstone-group.com
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