SOUTHERN URUGUAY PROJECTS

NUEVA HELVECIA

print page

Project Description: This gold project covers an area of 1,726 hectares and is located in the central portion of the La Florida Belt. UME is earning a 100% interest in the Nueva Helvecia property through an agreement with Delcosur S.A., a private Uruguayan company.

Geology: The project geology comprises foliated meta-andesites, pelites, gabbros and felsic rhyolites. Quartz feldspar porphyry dykes occur in a structurally complex setting, along a west-northwest striking lithological contact. Gold mineralization is associated with arsenopyrite, pyrite and pyrrhotite in quartz veins and veinlets, and as disseminations in the volcanic host rock.

Exploration Results: Drilling has encountered mineralization along a northwest trending structure, and within altered quartz-feldspar dykes. The structure has a minimum strike length of one kilometre. A summary of the historical and current results to date is presented below.

Planned Activities: Detailed structural field mapping and sampling will be carried out to define a strike extension to the current structure. A second drill program is planned for calendar year 2008.

NUEVA HELVECIA Exploration Activities & Results Summary (as of March 31, 2008)
CALENDAR YEAR	ACTIVITY	RESULTS
HISTORICAL RESULTS
1997	Drilling 900m (19 RC)	Intercepts ≥ 0.5g/t Au over ≥ 1.0m RCCR-1 2m @ 1.10g/t Au from 23m RCCR-2 2m @ 3.18g/t Au from 7m RCCR-3 13m @1.82g/t Au from 6m 1m @ 0.54g/t Au from 40m RCCR-4 12m @ 2.94g/t Au from 39m 17m @ 2.24g/t Au from 39m (above) RCCR-11a 8m @ 0.54g/t Au from 20m 4m @1.34g/t Au from 34m 2m @ 0.61g/t Au from 50m 1m @ 0.75g/t Au from 55m RCCR-13 5m @ 0.59g/t Au from 35m 1m @ 0.51g/t Au from 44m RCCR-14 2m @ 0.79g/t Au from 24m
2005	Surface & trench sampling	Soil Samples 34 soil samples between 50 - 808ppb Au. Rock Chip Samples 105 trench/rock chip samples between 200 - 9,090ppb Au.
CURRENT RESULTS
2007/2008	Mapping & sampling	Rock Chip Samples 7 rock chip samples between 180 - 48,000ppb Au
	Ground geophysics	IP Geophysical Survey (9 line-kilometres) Multiple high chargeability anomalies coincident with positive Au surface anomalies A coincident high resistivity / moderate chargeability trend which is coincident with mapped altered and mineralized host rocks, and structural lithological contacts.
	Drilling 1,826m (13 RC)	Intercepts ≥ 0.5g/t Au over ≥ 1.0m NH-07-002 1m @ 0.67g/t Au from 18m NH-07-003 4m @ 0.64g/t Au from 68m 1m @ 0.88g/t Au from 86m 1m @ 0.60g/t Au from 89m NH-07-005 1m @ 0.57g/t Au from 93m NH-07-006 4m @ 1.79g/t Au from 52m 16m @ 0.59g/t Au from 51m (above) NH-07-007 4m @ 2.45g/t Au from 122m NH-07-011 2m @ 0.60g/t Au from 19m NH-07-013 3m @ 1.20g/t Au from 47m
Drill hole intercepts, not true thickness.