Home Corporate projects News Investors Contact
Gold, Copper and Growth
 
2021
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004


News



Acero-Martin Drills Additional High Grade Gold Intercepts at Pinaya: Highlights Include 60.20 Meters of 3.16 g/t Gold Equivalent

April 23, 2007

Acero-Martin Exploration Inc. (the “Company”) is pleased to announce the results of five additional drill holes completed at the Gold Oxide Skarn Zone (“GOSZ”) of its wholly owned Pinaya project in Southern Peru.  All five holes intersected significant widths of gold-copper mineralization.  Highlights include: 29.40 m of 3.07 g/t gold equivalent (“AuEq”) in Drill Hole 97, 60.20 m of 3.16 g/t AuEq in Hole 98, and 29.50 m of 2.59 g/t AuEq in Hole 99.

“The latest drill results continue to confirm the ability of the GOSZ zone to host a high grade, near surface, heap leach mining operation. We are on a fast track to develop the gold zone for initial production.  The initial metallurgical test results are eminent and will form the basis for our Preliminary Economic Assessment (PEA) report which is scheduled to begin this quarter. The PEA will, of course lead the way to Pre-Feasibility and Feasibility Studies. Revenues from the gold zone will finance future development without share dilution." said Donald Gee, Acero-Martin's President and CEO.

Complete drill results are summarized below:

Hole Number

From

To

Interval

Interval

Au

Cu

(i) Au g/t

(i) Cu %

 

(m)

(m)

(m)

(ft)

g/t

%

Equivalent

Equivalent

 

 

 

 

 

 

 

 

 

PDH-96

0

9

9

29.53

0.68

0.02

0.72

0.39

 

29.5

44.5

15

49.21

0.27

0.05

0.36

0.20

 

82

158.5

76.5

250.98

0.93

0.26

1.41

0.77

 

175

191.5

16.5

54.13

0.05

0.24

0.49

0.27

 

 

 

 

 

 

 

 

 

PDH-97

0

23.1

23.1

75.79

0.31

0.05

0.40

0.22

 

26.1

55.5

29.4

96.46

2.80

0.15

3.07

1.68

 

55.5

96.5

41

134.51

0.50

0.16

0.79

0.43

 

 

 

 

 

 

 

 

 

PDH-98

0

45

45

147.64

0.32

0.02

0.36

0.19

 

45

105.2

60.2

197.51

2.81

0.19

3.16

1.73

 

126.5

136

9.5

31.17

0.15

0.24

0.59

0.32

 

 

 

 

 

 

 

 

 

PDH-99

34.5

64

29.5

96.78

2.30

0.16

2.59

1.42

 

375

391.5

16.5

54.13

0.10

0.26

0.58

0.31

 

 

 

 

 

 

 

 

 

PDH-100

0

3

3

9.84

0.89

0.07

1.02

0.56

 

9.5

20

10.5

34.45

0.48

0.04

0.55

0.30

 

49.5

79.5

30

98.43

1.02

0.12

1.24

0.68

(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.

Given approximate orientations of about 225°/-50° and -70° for the holes completed at the GOSZ, they generally represent about 70 per cent of the true thickness of the mineralized zone.

Holes 95 (24.55 m of 2.13 g/t Au; see news release of March 21, 2007) and 96 (76.55 m of 0.93 g/t Au) were drilled approximately mid way between Holes 1 and 5.  These holes were designed to test the updip edge of the mineralized body, and to infill between prior drill holes.

Holes 97 and 98 were drilled approximately mid way between Holes 5 and 7, and were designed to test the updip edge of the mineralized body, and to infill between these holes.

Holes 99 and 100 were drilled approximately mid way between Holes 7 and 6, and successfully extended the gold mineralization previously identified in Hole 7 (85.5 m of 1.34 g/t Au) by at least 25 m to the south.

The GOSZ is an extensively mineralized body that exceeds 500 m strike length, and which has been tested to depths of up to 200 m.  To date, the true thicknesses for the mineralized zones vary up to approximately 60 to 65 m.  Future drilling will test the known gold and copper resource at the GOSZ further along strike both to the north and to the south, and infill where appropriate.

The Company is compliant under National Instrument 43-101 for the Pinaya project. Jeffrey Reeder, P.Geo, and Cary Pothorin, P. Geo are the qualified persons responsible for the exploration program at Pinaya and are 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 junior mineral exploration and development company with projects in North and South America.  The Company is currently focused on developing its flagship Pinaya gold-copper project in southern Peru.  Acero-Martin offers investors the opportunity to share ownership in the rapid development of the project to production.  Acero-Martin trades on the TSX-Venture exchange under the symbol ASD and the Frankfurt stock exchange under the symbol AMX.  

ON BEHALF OF THE BOARD

“Donald Gee”

Donald Gee, President and Director

For more information please visit the company website at http://www.acero-martin.com  or contact investor relations at 877-646-0067 or .

 
     
Sign up for latest updates
*  Email Address:

 
 
© Copyright AM Gold Inc. 2016
 
 
HOME  |  CORPORATE  |  PROJECTS  |  NEWS  |  INVESTORS  |  CONTACT  |  DISCLAIMER