VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: ASD)(FRANKFURT: AMX)
is pleased to announce a summary of the results from its 2007
trenching program at the Pinaya gold-copper project in southern
Peru.
The objective of the trenching program was to extend, and
prepare for drilling, some of the emerging target zones on the
project, such as Montana de Cobre y Oro ("MCOZ"), Minas Jorge
("MJZ"), Don Pedro ("PEDRO"), and Viscachani ("VZ"). A newly
discovered zone, known as Los Vientos ("LVZ"), located
approximately 700 meters to the southeast of the Gold Oxide Skarn
Zone ("GOSZ"), was also tested for the first time.
Over the course of 2007, 56 trenches were excavated and sampled
for a total of approximately 11.25 kilometers of exposure. Within
those trenches 7,503 channel samples with an average width of 1.5
meters were collected and sent to SGS Laboratories in Lima, Peru
for analysis.
Assay highlights from the program include:
1. 4.1 g/t gold over 16.5 metres, including a higher grade
sample of 27.4 g/t gold over 2.1 meters in trench PTR-134 (Montana
de Cobre y Oro zone).
2. 6.4 g/t gold over 4.7 meters, including 9.7 g/t gold over 1.3
meters in trench PTR-88-EXT (Minas Jorge zone).
3. 2.0 g/t gold over 6.7 meters, including 10.7 g/t gold over
1.2 meters in trench PTR-152 (Los Vientos zone).
4. 2.0 g/t gold over 9.0 meters in trench PTR-112 (Los Vientos
zone).
5. 32.0 g/t silver over 21.0 meters in trench PTR-131 (Montana
de Cobre y Oro zone).
6. 0.21% copper over 60.5 meters in trench PTR-156 (Don Pedro
zone).
Maps showing the locations of the zones and trenches along with
the significant results have been uploaded to:
http://www.aceromartinexp.com/news/
Trenching at Pinaya has been effective at generating high
quality drill targets and leading to the discovery of subsurface
mineralization and deposits. Field experience has shown that due to
weathering and leaching of surface rock, gold values in excess of
100 parts per billion (i.e. 0.1 g/t Au) and copper values in excess
of 100 parts per million (i.e. 0.01% Cu) are considered excellent
anomalous geochemical values, and indicate the potential for
significant sub-surface mineralization.
A complete table of significant trenching results is included
below:
From To Interval Au Ag Cu
Trench (m) (m) (m) (ppb) (g/t) (ppm) Zone
-----------------------------------------------------------------------
PTR-88-EXT 7.6 12.3 4.7 6419.4 - 314.9 MJZ
21.1 30.5 9.4 291 - 297.3
PTR-115 55.9 57.4 1.5 2142 4 605.2 MJZ
PTR-104-EXT 0 9 9 1065.5 0.6 291.1 VZ
PTR-120 0 86 86 159.2 0.4 142.7 VZ
PTR-121 199.8 223.8 24 245.3 0.3 61.8 VZ
226.8 285.3 58.5 145.7 0.2 143.7
PTR-106-EXT 3 73.5 70.5 314.1 0.9 211 MCOZ
Incl. 16.5 24 7.5 1492.4 1.8 279.3
Incl. 48 67.5 19.5 436.3 0.6 82.7
PTR-130 34.5 70.5 36 78.9 19.7 500.3 MCOZ
PTR-131 30.6 51.6 21 192.4 32 134 MCOZ
PTR-133 157.2 199.8 42.6 290 3 295 MCOZ
259.9 266.6 6.7 1352.1 15 84
PTR-134 11.1 26.4 15.3 250.9 2.9 357.8 MCOZ
34.3 56 21.7 99.3 4.4 284.8
64.5 94.8 30.3 95.1 6.5 91.8
94.8 111.3 16.5 4134.7 4.3 102.4
Incl. 99.5 101.6 2.1 27400 2.3 57.4
PTR-135 64.5 109.4 44.9 503.3 0.6 240.3 MCOZ
125.9 162.3 36.4 200.5 0.8 172.9
PTR-136 97.3 119.8 22.5 789.2 6.1 250.4 MCOZ
PTR-138 40.2 43.2 3 203 1.1 387.4 MCOZ
64.1 68.3 4.2 301 0.7 142.8
PTR-140 67.5 99.5 32 294.4 5.8 222.7 MCOZ
PTR-143 51 62.5 11.5 406.4 1.3 349.3 MCOZ
PTR-148 74.5 120.5 46 333.7 0.6 56.4 MCOZ
PTR-149 25.5 36 10.5 256 17.9 62.8 MCOZ
PTR-112 25.5 60 34.5 717.2 1.1 203 LVZ
Incl. 40.5 49.5 9 2088.9 2.6 333.5
PTR-152 28.5 35.2 6.7 2047.3 2.9 152.1 LVZ
Incl. 32.5 33.7 1.2 10700 9 662.5
145.8 160.3 14.5 333.5 0.5 19.6
178.8 199.6 20.8 446.8 1.4 170.3
PTR-155 0 56.5 56.5 12.8 2.2 1508.8 PEDRO
PTR-156 1.5 62 60.5 15.9 1.3 2150 PEDRO
PTR-157 0 60.5 60.5 25.5 0.9 1340 PEDRO
PTR-158 0 20.5 20.5 80.8 1.3 170.3 PEDRO
-----------------------------------------------------------------------
Acero-Martin is pleased that significant trenching results were
returned from all five of the newly emerging target areas. Two of
these zones, Don Pedro and Los Vientos, have never been drill
tested. All five zones have been mapped in detail and exploratory
drill holes have been planned to test the targets in 2008.
About Acero-Martin Exploration Inc.
Acero Martin's 100%-owned Pinaya project hosts one of Peru's
newest and richest copper-gold porphyry/skarn deposits. The project
is located 110 km northeast of Arequipa and approximately 60
kilometers south of Xstrata's Tintaya copper-gold mine, and is
favoured with excellent nearby mining infrastructure.
In September of 2006, based on the first 70 holes drilled, an
initial independently calculated NI 43-101 resource estimated that
Pinaya hosts an Indicated Resource of 29.13 million tonnes grading
0.53 g/t gold and 0.42% copper and an Inferred Resource of 12.72
million tonnes grading 0.41 g/t gold and 0.41% copper. This equates
to approximately 498,000 troy ounces of gold and 269,000,000 pounds
of copper in the Indicated category, and 168,000 troy ounces of
gold and 115,000,000 pounds of copper in the Inferred.
As of February 2008, the Company has completed 148 diamond drill
holes. Drilling since the release of the initial resource continues
to work to expand the size of the deposit and test new zones of
mineralization. Alongside the drilling the company is currently
completing a preliminary economic assessment ("scoping study") to
determine the potential for, and economic parameters of, developing
a starter open pit mining operation. Acero-Martin trades on the
TSX-Venture exchange under the symbol ASD and the Frankfurt stock
exchange under the symbol AMX.
Technical Information
Field samples are shipped to SGS Laboratories in Lima, Peru.
Samples are crushed and a portion pulverized for analysis. Samples
are assayed for gold using a 30 gram fire assay procedure with a
gravimetric or Atomic Absorption (AA) finish. A 36-element ICP
analysis is then carried out using an Aqua Regia (4 acid)
digestion. Copper assays over 1.0% are reanalyzed using an AA
procedure.
A Quality Assurance and Quality Control (QA/QC) program
including standard material of known copper and gold content,
blanks, and duplicate samples is followed. Certified standards of
known copper and gold content, and blanks are inserted every 20
samples. Duplicate samples are also taken every 20 samples. Any
inconsistencies are addressed immediately.
The technical information in this news release has been prepared
in accordance with the Canadian regulatory requirements set out in
National Instrument 43-101 and reviewed on behalf of the Company by
Cary Pothorin, P.Geo, Acero-Martin's Vice President of Exploration,
a qualified person.
ON BEHALF OF THE BOARD
Don Currie, President and CEO
This news release has been prepared by management. This document
contains certain forward looking statements which involve known and
unknown risks, delays, and uncertainties not under the Company's
control which may cause actual results, performance or achievements
of the Company to be materially different from the results,
performance or achievements implied by these forward looking
statements. We seek safe harbor.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Acero-Martin Exploration Inc. Investor Relations
1-877-646-0067 (604) 646-0640 (FAX) Email: info@acero-martin.com
Website: www.acero-martin.com
Acero-Martin Exploration (TSXV:ASD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Acero-Martin Exploration (TSXV:ASD)
Historical Stock Chart
From Oct 2023 to Oct 2024