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Uruguay Minerals Exploration Inc: Operations Update
Uruguay Minerals Exploration Inc: Operations Update.
About this update from Orosur Mining Inc.
[{"type":"text","content":"\n\n\n\n-- Production for 2006 Financial Year exceeds target\n\n\n-- Petrographic work at Lascano confirms hydrothermal alteration\n\n\nLONDON, June 13 /CNW/ - Production\n\n\nUruguay Minerals Exploration Inc (TSX VENTURE:UME)(LSE:UGY)("UME")\nconfirms that it has produced 96,420 ounces of gold for the financial year to\nMay 31, 2007, exceeding its target of 95,000 ounces. Ore processed for the\nyear was 1,312,999 tonnes at a grade of 2.45 g/t and the recovery averaged\n93.3%.\n\n\nThe diversion of the Arroyo Corrales is progressing as expected with the\ndiversion canal expected to be completed before the end of this month and,\ndependent on rainfall events, to be operational by the end of July 2007.\n\n\nUpdate on Lascano Exploration Programme\n\n\nAt Lascano, petrographic studies and geochemical analysis of diamond\ndrill cores have demonstrated potassic alteration and anomalous mineralization\nwithin the significant geophysical anomaly. This is an important development\nin that no mineralization is evident in the surface exposure.\n\n\nThree stratigraphic drill holes have been completed to date and drilling\nof a fourth hole is in progress and nearing completion. Petrographic studies\nand geochemical analyses have been completed for the first two holes. Potassic\nalteration has been confirmed in both these holes but is much stronger in hole\nLASDDH-02 which contains associated sulphides.\n\n\nIn LASDDH-02, which was drilled in the centre of one of the geophysical\nanomalies, rocks are predominately mafic in composition and consist of quartz\nmonzonite to gabbro intruded into a pile of amygdaloidal basaltic lava flows.\nAlteration of these units varies with the most intense alteration occurring\nbetween 200 and 375 metres. (Mineralization and alteration occur in all rock\ntypes with similar intensities.) The alteration can be defined by moderate to\nstrong potassic alteration with associated quartz-chalcedony veins and\nreplacement silicification. Mineralization associated with this alteration is\ncharacterized by moderate to abundant magnetite and hematite veinlets and\nreplacements (iron oxide metasomatism) along with trace to 2% sulfides.\nSulfide mineralization is characterized by pyrite and or chalcopyrite. Visible\ngold mineralization has been identified in one sample hosted in chalcedony\nveins. The intercept ...