Drilling Report
Uruguay Mineral Exploration Inc
September 9, 2009 SYMBOLS: UME (TSXV), UGY (AIM)
Uruguay Mineral Exploration Inc. announces additional results for
Arenal Deeps resource drilling including 18.9m at 4.08 g/t Au and 29m at
3.5 g/t Au
Uruguay Mineral Exploration Inc (“UME” or the “Company”), a
gold production and exploration company, is pleased to report results
from the ongoing Arenal Deeps resource definition drilling program.
Significant intersections included:
|
HOLE ID
|
|
FROM
|
|
Au intercept (1g/t)1g/t) |
|
|
ALDD112
|
|
243.20
|
|
13.9m @ 2.85g/t
|
|
|
ALDD112
|
|
265.60
|
|
18.9m @ 4.08g/t
|
|
|
ALDD112
|
|
294.30
|
|
5.3m @ 3.00g/t
|
|
|
ALDD112
|
|
314.55
|
|
10.9m @ 2.62g/t
|
|
|
ALDD113
|
|
336.65
|
|
29.0m @ 3.50g/t
|
|
|
ALDD114
|
|
316.30
|
|
2.2m @ 3.18g/t
|
|
|
ALDD114
|
|
342.50
|
|
1.8m @ 2.61g/t
|
|
|
ALDD115
|
|
294.75
|
|
3.7m @ 2.69g/t
|
|
|
ALDD117
|
|
239.90
|
|
6.6m @ 3.20g/t
|
|
Intercepts are drill widths (approximate true thickness) and may
include up to 2m of internal dilution by lower grade (<1g/t) material
The resource definition drilling program of the Arenal Deeps deposit
continues with two dedicated diamond core drills. Results continue to
confirm and extend resources as defined by the current resource model
(Golder Associates S.A., March 2009)
Holes ALDD112 & ALDD113 were drilled within the central portion of the
main mineralized lode(s) and intersected better than previously modeled
thickness and grades.
Holes ALDD114, ALDD115 & ALDD117 tested the narrower edges of the
deposit and intersected thickness and grades anticipated by previous
modeling.
Geo-mechanical and metallurgical data and samples are being collected
during the current program.
Approximately 10,000 drill meters have been completed to date and an
additional 15,000 meters are currently scheduled to be completed by
January 2010.
David Fowler, Chief Executive Officer commented: “UME is pleased that
the Arenal Deeps definition drilling is continuing to upgrade the main
mineralized load with better than modeled grades and thicknesses.”
Qualified Person's Statement
The information presented in this press release was prepared by Devin
den Boer, PGeo, exploration manager and has been reviewed and verified
for compliance with NI 43-101 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.
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
