Arenal Deeps Further Results
Uruguay Mineral Exploration Inc
SYMBOLS: UME (TSXV), UGY (AIM)
Uruguay Mineral Exploration Inc. Announces Further Results
for
Arenal Deeps Drilling Including 26.2 m at 13.76 g/t Au
Uruguay Mineral Exploration Inc ('UME' or the 'Company') a
South America focused gold production and exploration company is pleased
to report results from four additional drill holes completed in the
Arenal Deeps deposit.
David Fowler, CEO of UME, commented, “These additional drill results,
together with the first six infill drill holes released on July 8, 2009,
are not included in the results of the Prefeasibility Study released
today. They have at a minimum confirmed the resource model and in most
cases have intercepted better than expected grades and thicknesses such
as drill hole ALDD108 which intercepted 26.2 meters at 13.76 g/t from
300.65 meters. The drill holes are part of an ongoing definition drill
program, which is designed to upgrade the resource categories and
collect geo-technical information for the feasibility study.”
Intercepts include*:
|
HOLE ID
|
|
Intercept Au g/t (1g/t)1g/t)
|
|
FROM
|
|
ALDD108
|
|
26.20m @ 13.76g/t
|
|
300.65
|
|
includes
|
|
4.75m @ 29.87g/t
|
|
302.65
|
|
and
|
|
7.10m @ 20.37g/t
|
|
313.75
|
|
ALDD108
|
|
18.50m @ 3.62g/t
|
|
357.90
|
|
includes
|
|
5.10m @ 8.43g/t
|
|
362.30
|
|
ALDD109
|
|
3.20m @ 2.24g/t
|
|
295.55
|
|
ALDD109
|
|
23.65m @ 2.67g/t
|
|
308.90
|
|
ALDD109
|
|
1.40m @ 3.08g/t
|
|
368.55
|
|
ALDD110
|
|
14.00m @ 5.22g/t
|
|
289.70
|
|
ALDD110
|
|
3.10m @2.68g/t
|
|
324.65
|
|
ALDD111
|
|
20.55m @ 2.55g/t
|
|
315.95
|
*Drill hole thickness reported, approximate true thickness.
Intercepts from drill results announced on July 8, 2009 *:
|
HOLE ID
|
|
Intercept Au g/t (1g/t)1g/t)
|
|
FROM
|
|
ALDD103
|
|
16.1m @ 10.3g/t
|
|
341.80
|
|
Includes
|
|
9.85m @ 15.49g/t
|
|
344.25
|
|
ALDD103
|
|
9.7m @ 2.54g/t
|
|
362.30
|
|
Includes
|
|
6m @ 3.58g/t
|
|
362.30
|
|
ALDD103
|
|
2.25m @ 4.68g/t
|
|
433.45
|
|
ALDD104
|
|
3.1m @ 2.57g/t
|
|
241.90
|
|
ALDD104
|
|
4.95m @ 2.31g/t
|
|
246.90
|
|
ALDD104
|
|
3m @ 2.82g/t
|
|
322.10
|
|
ALDD105
|
|
15.15m @ 2.62g/t
|
|
269.35
|
|
Includes
|
|
5.55m @ 4.7g/t
|
|
269.35
|
|
ALDD106
|
|
5.09m @ 2.74g/t
|
|
250.16
|
|
ALDD107
|
|
40.2m @ 3.43g/t
|
|
321.80
|
|
Includes
|
|
6.25m @ 5.67g/t
|
|
321.80
|
|
And
|
|
5.45m @ 3.59g/t
|
|
333.95
|
|
And
|
|
11.35m @ 4.27g/t
|
|
341.45
|
|
And
|
|
5.5m @ 4.57g/t
|
|
356.50
|
|
ALDD107
|
|
10.95m @ 1.77g/t
|
|
367.70
|
|
Includes
|
|
4.1m @ 2.94g/t
|
|
369.90
|
* Drill hole thickness reported, approximate true thickness
Drill hole intercepts are composites using a minimum 1.0 g/t Au cutoff,
no capping grade, and may include up to 2 continuous samples below the 1
g/t cut off.
The above results compare to a measured and indicated resource grade of
2.2 g/t for the Arenal Deeps resource. These holes have at a minimum
confirmed the resource model and in most cases have intercepted better
than expected grades and thicknesses. Intercepts such as those in
ALDD108 will significantly increase grade and tonnes in this sector of
the resource.
A location map and cross sections of the holes ALDD103 through ALDD111
can be found on the company’s web page at the following link:
http://www.uruguayminerals.com/explorations/isla_cristalina_belt/san_gregorio/
These cross sections show the contrast of recent intercept widths and
grade as compared to the April 2009 resource model grades.
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.
Qualified Person’s Statement
The information presented in this press release has been reviewed and
verified by Mr George Schroer Vice President Exploration and a Certified
Professional Geologist. Mr Schroer is the Qualified Person for the
purposes of the AIM Guidance Note on Mining Companies dated March 2006.
Mr Schroer has a Masters of Science in Geology from Colorado State
University and is a member of SEG and AIPG. He has over 20 years of
international experience in exploration.
Forward Looking Statements
All statements, other than statements of historical fact, contained or
incorporated by reference in this news release, including any
information as to the future financial or operating performance of the
Company, constitute “forward-looking statements” within the meaning of
certain securities laws, including the “safe harbour” provisions of the
Securities Act (Ontario) and the United States Private Securities
Litigation Reform Act of 1995 and are based on expectations estimates
and projections as of the date of this news release. There can be no
assurance that such statements will prove to be accurate, such
statements are subject to significant risks and uncertainties, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements include,
without limitation success of exploration activities; permitting time
lines; the failure of plant; equipment or processes to operate as
anticipated; accidents; labour disputes; requirements for additional
capital title disputes or claims and limitations on insurance coverage.
The Company disclaims any intention or obligation to update or revise
any forward looking statements whether as a result of new information,
future events and such forward-looking statements, except to the extent
required by applicable law.
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.
For further information, please contact:
Uruguay Mineral Exploration Inc
Tony Shearer, Chairman: +44
20 7602-1570; Tony Shearer, Chairman: +44
20 7602-1570; tonyshearer@btinternet.com
David
Fowler, CEO: 598 2 6016354; David
Fowler, CEO: 598 2 6016354; urumin@ume.com.uy
Matrix Corporate Capital LLP
Louis Castro, +44 (0) 203 206
7209Louis Castro, +44 (0) 203 206
7209
Tim Graham, +44 (0) 203 206 7206Tim Graham, +44 (0) 203 206 7206
Investor Relations in North America
Susan Borinelli,
Breakstone Group: +1 646-330-5907; Susan Borinelli,
Breakstone Group: +1 646-330-5907; sborinelli@breakstone-group.com
