Strike Resources’ investment in Cuervo Resources and the wholly owned Cerro Ccopane Iron Ore Project in southern Peru is paying off after Cuervo defined an additional Inferred Resource of 72 million tonnes at 52.6% at the project.

Inferred Resources now stand at 118 million tonnes at 50.4% iron, using a 30% cut-off.

The project also has 19.7 million tonnes at 48.26% iron and 35.9 million tonnes at 45.91% iron, using a 20% cut off, in the higher confidence Measured and Indicated categories respectively.

The new Inferred Resource is located at the Aurora and Huillque prospects, which lie about 3 kilometres to the southwest and north, respectively, of Cuervo’s previously reported resources at the Orcopura prospect.

Cuervo has now delineated four zones of magnetite mineralization Aurora, Orcopura, Huillque and Bob 1.

The Orcopura mineralization has been tested over a strike length of about 800 metres and remains open along strike and down dip in several areas.

To date exploration and diamond drilling has been undertaken at the Aurora, Orcopura and Huillque prospects.

The Aurora prospects are defined by a geophysical anomaly similar in size to the Orcopura Prospect.

The magnetite mineralisation at Aurora and Huillque prospects remains open along strike and down dip.

At both prospects there is good potential to extend the mineralization targeting the untested portions of the geophysical anomalies.

(Sourced from www.proactiveinvestors.com.au)