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CuOro retrieves sample grades up to 5.14% copper at Santa Elena tunnel

Last updated: 08:40 30 Nov 2011 EST, First published: 09:40 30 Nov 2011 EST

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CuOro Resources (CVE:CUA) said Wednesday it completed a geological mapping and sampling program within the exploration tunnel of its wholly-owned Santa Elena project in Antioquia, Colombia.

The best results from the program came from eight samples collected over an 11.5 metre length, which returned average grades of 1.33% copper, 0.22% zinc, 0.07 grams per tonne (g/t) gold, and 6.7 g/t silver.

Individually, the best sample returned 5.14% copper, 0.23% zinc, 0.24 g/t gold, and 23.0 g/t silver over one metre.

CuOro said these results have demonstrated that mineralization extends for 300 metres along strike, and at a 104 metre depth below the outcrops, which are located 300 metres west of the tunnel.

Late last month, the company reported that an airborne magnetic and radiometric survey on the property found new anomalies, including a large magnetic feature from the southern most massive sulphide outcrops to the northern most edge of the Santa Elena property, which is over one kilometre in length and is on strike with the existing massive sulphide outcrops.

A large highly intense magnetic anomaly had been mapped on the southwest corner of the property several kilometers from the current area of exploration.

Currently, CuOro has two drill rigs operating on the 1,287-hectare property and is carrying out a 25,000 metre drill program. About 20 holes have been finished to date and roughly 4,000 metres of core has been also drilled.

The company said the mineralized zones of the outcrops and the mineralization within the tunnel are possibly part of the same ore zone. It is currently drilling the 300 metre space between the outcrops and the tunnel to test for continuity.

CuOro stock closed on Tuesday at $1.32.

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