Acero-Martin Exploration Inc. (the “Company”) is pleased to release the results of eight additional holes from the second phase of its 2006/07 drilling program at the Pinaya property.
The second phase of the 2006/07 drilling program has been focused on expanding upon the resource defined within the Western Porphyry Zone (herein “Porphyry”) and Gold Oxide Skarn Zone (herein “Gold Oxide Zone”). Together these zones currently cover a known lateral extent of 1,500 by 450 meters of which less than 50 percent of the area has been drill tested. Both of the zones remain open for expansion to the northwest, southeast, and at depth.
The latest drill results have extended the known mineralization at both the Porphyry and Gold Oxide Zones and increased the resource potential of Pinaya considerably.
The following table summarizes the latest drill results:
(i) Copper equivalent values (CuEq) and gold equivalent values (AuEq) are estimated using long-term metal prices, including copper at $1.20 (U.S.) per pound and gold at $450 (U.S.) per ounce. Adjustment factors to account for differences in relative metallurgical recoveries for gold and copper will depend upon the completion of definitive metallurgical testing. CuEq equals Cu per cent plus Au gram per tonne multiplied by 14.47/(1.20 multiplied by 22.05); AuEq equals Au gram per tonne plus Cu per cent multiplied by 22.05 multiplied by 1.2/14.47.
Expansion of the Gold Oxide Zone to the Southeast:
The latest drill results have multiplied the resource potential the Gold Oxide Zone.
The Gold Oxide Zone contains a historic high grade open pit that measures approximately 300 meters long, 30 to 40 meters wide, and up to 30 meters deep.
Holes PDH-084 and 86 were drilled 300 and 200 meters respectively southeast and across the valley from the historic pit. PDH-086 returned high grade gold intersects up to 13.45 g/t over 3 meters. The confirmation of high grade mineralization in these holes has almost doubled the strike length of the Gold Oxide Zone. The total strike is now 500 meters and is open along strike both to the NW and SE. Future drilling will be focused on extending the zone further to the southeast/northwest and filling in the gap between the historic open pit and PDH-84/86.
Past drill highlights from the Gold Oxide Zone are included below:
Expansion of the Western Porphyry Zone
Drill holes PDH-079, 083, and 085 were drilled in the northern portion of the Porphyry. All of the holes returned significant near surface copper and gold mineralization that is consistent with the mineralization found 500 meters to the south in the southern portion of the Porphyry. Based on the success of these holes, future drilling will be aimed at closing the 500 meter gap between the southern and northern portions of the WPZ and extending the entire zone further to the northwest, southeast, and at depth.
An updated drill hole location map is available at: http://www.aceromartinexp.com/projects/pinaya/
“The latest drill results enhance the potential and size of the project and further increase our confidence in the economics of Pinaya” said Donald Gee, President and CEO of Acero-Martin. “Our development strategy moving forward will be to put the high grade gold zone at the Gold Oxide Zone into production as quickly as is possible while we continue to explore the rest of the property and add to the known resource. By concentrating on both near-term production and adding to a known deposit through exploration we will ensure the maximization of the rich potential of the property. We will continue to rapidly increase the resource potential.”
As announced on January 19, 2007, the Company has contracted consultants to aid in the development of an initial open-pit heap leach mine to exploit the oxide gold mineralization at the Gold Oxide Skarn Zone. Environmental and social-economic studies are already underway. Additionally, Minefill Services Inc. has been engaged to conduct initial mine design and to assist and direct metallurgical studies that are required for a Preliminary Economic Assessment Study (Scoping Study) which is expected to commence by Q2 2007.
Drilling and exploration is continuing at the Pinaya project. The company recently received assay results for holes PDH-087 to PDH-092. The results are being reviewed and will be released shortly.
The Company is compliant under National Instrument 43-101 for the Pinaya project. Jeffrey Reeder, P.Geo, is the qualified person responsible for the exploration program at Pinaya and is supervising the quality control and quality assurance program. A quality control program of standards, blanks and duplicates is maintained.
About Acero-Martin Exploration Inc.
Acero-Martin Exploration Inc. is a Canadian-based mineral exploration and development company with projects in North and South America. The Company is currently focused on developing its flagship gold-copper property: Pinaya.
An independent NI 43-101 compliant resource estimate released September 2006 showed that the Gold Oxide and Western Porphyry zones contain an indicated resource of approximately 498,000 troy ounces of gold and 269,000,000 pounds of copper, and an inferred resource of 168,000 troy ounces of gold and 115,000,000 pounds of copper. Both zones are open for expansion along strike and down dip
For additional information please go to http://www.acero-martin.com or http://www.goldmau.com/asd.htm
Donald Gee, President and Director
For further information contact: Donald Gee, President at (604) 618-3433 Email: or Investor Relations: +1 (800) 884-5269 Email:
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