Cuervo Resources (CNSX:FE,FWB:CRR) announced continued intersection of massive magnetite in results from the latest hole drilled on the Bob 1 zone of its Cerro Ccopane Iron Project in south central Peru. The newly reported hole showed 127.1 meters grading 54.1% Fe. Other showings include: sulphur (S) 2.67%; phosphorous (P) 0.006%; manganese (M) 0.12%; and copper (Cu) 0.13%.
As quoted in the press release:
These results are similar to those of 8 previously reported holes and extend the evident length of strike in the central area of the Bob 1 zone by approximately 200 meters to approximately 1,000 meters. Hole BDH12-09 was abandoned due to poor ground conditions. The current Phase 1 drill program, which is nearing completion, is testing the 1 billion tonne potential of the Bob 1 zone indicated by a 3 kilometers belt of magnetite outcropping and strong geophysical signatures.