Acero-Martin Exploration Inc. (the “Company” or “Acero-Martin”) is pleased to announce the results of five additional drill holes completed at the Gold Oxide Skarn Zone (GOSZ) and North Western Porphyry Zone (NWPZ) of its wholly owned Pinaya project in southern Peru.
All five holes intersected significant widths of gold-copper mineralization. Several of the holes tested new areas well outside the limits of the 2006 resource estimate boundaries, and indicate that the deposit remains open for expansion.
Drill holes PDH-106, 108, and 109 were drilled at the Gold Oxide Skarn Zone and holes PDH-105 and 107 tested the North Western Porphyry Zone.
GOLD OXIDE SKARN ZONE (GOSZ)
Expansion and definition drilling at the GOSZ continues to yield encouraging results. In particular:
NORTH WESTERN PORPHYRY ZONE (NWPZ)
Wide step-out drilling at the North Western Porphyry also indicates that this resource area is open for expansion. In particular:
1. Drill hole PDH-107, located 100 meters northeast of PDH-92, intersected wide intervals of significant gold-copper mineralization; including 106.50 meters of 0.46 g/t gold and 0.25% copper and 63.80 meters of 0.45 g/t gold and 0.29% copper starting near surface. At the bottom of the hole, beginning at 354 meters a high-grade 10.50 meter interval returned 3.17% Cu and 0.11 g/t gold.
A table of drilling highlights is provided below for further reference.
The intersections represent apparent thicknesses, and are 1.25 to 1.5 times the true thickness. For a location map of the drill holes, please use the following link: http://www.aceromartinexp.com/_resources/pinaya/drillholeplan.pdf
The Pinaya gold-copper project is located in southern Peru, 110 kilometers northeast of Arequipa, and just seven kilometers off of the haul road to Xstrata’s Tintaya mine. The deposit can be characterized as a porphyry copper-gold, skarn, and supergene gold-copper deposit. Similar deposits nearby include Tintaya which is host to a resource of about 139 Mt with 1.39 % Cu and 0.23 g/t Au, Antapaccay with 383 Mt averaging 0.89 % Cu and 0.16 g/t Au; Quechua with 300 Mt averaging 0.68 % Cu; and Coroccohuayco with 155 Mt averaging 1.57 % Cu and 0.16 g/t Au.
Acero-Martin acquired the Pinaya project in 2004, released an initial resource estimate in 2006, and recently commissioned a preliminary economic assessment (“scoping study”) in support of the development of a starter pit at the Gold Oxide Skarn Zone.
A total of 117 drill holes, for 30,273 meters of drilling, have now been completed at the project. Drilling is ongoing on the property with two drill rigs currently operating. Additional drilling results will be released as they become available.
The Company is compliant under National Instrument 43-101 for the Pinaya project. Cary Pothorin, 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 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, 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 [email protected]
© Copyright AM Gold Inc. 2016