Uruguay Mineral Exploration Inc. Announces Additional Results for
Arenal Deeps Resource Drilling Including 10.25m at 5.80 g/t Au and
19.45m at 7.59 g/t Au
Uruguay Mineral Exploration Inc
Uruguay Mineral Exploration Inc (“UME” or the “Company”) is
pleased to announce results from the ongoing Arenal Deeps resource
definition drilling program. Drill results continue to confirm and
extend the independent resource estimated in April 2009.
David Fowler, Chief Executive Officer commented: “The Arenal Deeps
definition drilling program continues to upgrade the main mineralized
lode with better than modeled grades and thicknesses. Significant
results from the additional seven holes reported include hole ALDD120
with 19.45 meters at 7.59 g/t Au and 10.25 meters at 5.8 g/t Au. We look
forward to drilling the final 11,500 meters by January 2010, followed by
an updated 43-101 resource estimate expected to be published in March
2010 which will enable the completion of a feasibility study in June
2010.”
Significant intersections included:
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Hole ID
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Au intercept (1g/t)1g/t) |
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From
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ALDD116
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7.55m @ 3.29g/t
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272.2
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ALDD118
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6.8m @ 6.49g/t
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216.5
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ALDD118
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1.5m @ 9.40g/t
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226.3
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ALDD118
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7.95m @ 1.93g/t
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240.0
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ALDD120
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19.45m @ 7.59g/t
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345.3
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ALDD120
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10.25m @ 5.80g/t
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370.4
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ALDD120
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7.2m @ 2.61g/t
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417.0
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ALDD120
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5.1m @ 2.35g/t
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442.4
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ALDD121
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9.1m @ 1.21g/t
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285.2
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ALDD121
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3.2m @ 1.96g/t
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302.9
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ALDD122
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2.5m @ 8.47g/t
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295.9
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Including
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0.85m @ 22.91g/t
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295.9
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ALRC377
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2m @ 5.31g/t
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84
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ALRC380
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2m @ 8.14g/t
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129
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Intercepts are drill widths (approximate true thickness) and may
include up to 2m of internal dilution by lower grade (<1g/t) material
Holes ALDD116, ALDD118 & ALDD120 were drilled within the central portion
of the main mineralized lode(s) and intersected better than previously
modeled thickness and grades.
Holes ALDD119 & ALDD121 tested the narrower edges of the deposit and
intersected thickness and grades anticipated by previous modeling.
Hole ALDD122 tested the down dip portion of the model and encountered a
thin but high-grade portion of the mineralized structure.
Reverse Circulation drilling has been employed along the up dip portion
of the mineralized body just below the final pit. This drill technique
will be used to help define the up dip portion of the mineralized
structures. Two diamond core rigs continue to drill the deeper portion
of the Arenal Deeps deposit.
Geo-mechanical and metallurgical data and samples are being collected
during the current program.
Approximately 13,500 drill meters have been completed to date and an
additional 11,500 meters are currently scheduled to be completed by
January 2010.
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. (CPG-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. Mr. den
Boer has a Bachelor of Science (Geological Sciences) Degree from the
University of British Columbia and is a registered member of APEGBC. He
has over 13 years of international experience in minerals 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.
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For further information, please contact:
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Uruguay Mineral Exploration Inc
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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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