Last checked at 9 Sep 2009 07:00
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) | |||
| 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 (
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 IncTony Shearer, Chairman: +44 20 7602-1570; tonyshearer@btinternet.comDavid Fowler, CEO: 598 2 6016354; urumin@ume.com.uy
Matrix Corporate Capital LLPLouis Castro, +44 (0) 203 206 7209Tim Graham, +44 (0) 203 206 7206
Investor Relations in North AmericaSusan Borinelli, Breakstone Group: +1 646-330-5907; sborinelli@breakstone-group.com
Copyright Business Wire 2009