Cuervo Reports Closing of Financing Accord with Strike Resources Limited

Cuervo Resources Inc. (CNQ:FE,ETR:CRR) reports it has closed an investment agreement with Strike Resources Limited (ASX:SRK).

The press release is quoted as saying,

Under the terms of the agreement Strike is providing financing of up to $CDN 15 million to Cuervo to fund advanced exploration work on the Company’s Cerro Ccopane iron ore exploration project in the Cusco area of southern Peru. The first tranche of the funding, which has now been received by the Company, totals $CDN 5,250,000. Strike itself is also an important explorer for iron ore in southern Peru through its interest in Apurimac Ferrum S.A. The companies believe that a cooperative exploration effort between Cuervo and Strike will be strategic to the development of the iron ore resource potential of Peru.

For the complete press release, click here.