Acero-Martin Exploration Inc. (the “Company”) is pleased to report that ongoing drilling has intersected significant gold-copper mineralization in three areas of the Pinaya project in southeastern Peru.
Eight new drill holes from the Gold Oxide Skarn Zone, Western Porphyry Zone, and North Western Porphyry Zone all returned wide intervals of significant gold-copper mineralization.
GOLD OXIDE SKARN ZONE:
Drilling at the Gold Oxide Skarn Zone was designed to further define the near surface gold deposit in support of the development of a starter pit. The holes returned some of the highest grade intervals of gold mineralization encountered to date; in particular:
1. Starting near surface, PDH-128 intersected 2.00 grams per tonne gold over 67.50 metres including 4.90 grams per tonne gold over 25.00 metres.
2. Also starting near surface, PDH-129 intersected 3.07 grams per tonne gold over 23.70 metres.
NORTH WESTERN PORPHYRY ZONE:
Expansion drilling at the North Western Porphyry Zone continues to yield encouraging results. In particular:
1. PDH-132, located 50 metres southeast of the 2006 Pinaya resource boundary, intersected 0.95% copper over 21.00 metres and a separate zone of 0.32 grams per tonne gold and 0.31% copper over 106.80 metres.
2. PDH-127, located 150 metres northeast of the 2006 Pinaya resource boundary, intersected 0.71% copper and 0.41 grams per tonne gold over 9.00 metres and a separate high grade gold zone grading 3.82 grams per tonne gold over 2.00 metres.
WESTERN PORPHYRY ZONE:
Similarly, step-out and infill drilling at the Western Porphyry Zone continues to add to the deposit. In particular:
1. PDH-133, located 50 meters southeast of the 2006 Pinaya resource boundary, intersected 0.53% copper and 0.26 grams per tonne gold over 40.40 metres.
2. PDH-134, located on the eastern edge of the 2006 Pinaya resource boundary, intersected 0.84 grams per tonne gold and 0.59% copper over 40.00 metres and a separate zone of 0.70 grams per tonne gold and 0.50% copper over 23.50 metres.
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
A total of 138 drill holes, for 36,600 metres of drilling, have now been completed at Pinaya. In September of 2006, based on just the first 70 of these holes the Company released an initial NI 41-101 compliant mineral resource estimate as prepared by J.D. Blanchflower, P. Geo. Using a US$5.50 Gross Metal Value (GMV) cut off, the report estimated that the Western Porphyry and Gold Oxide Skarn Zones together contain 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.
Drilling has been non-stop since the release of the initial resource estimate, with the bulk of the Company’s efforts focused on expanding the North Western Porphyry and Gold Oxide Skarn Zone resource areas. The Company believes that there is excellent potential to continue to increase the size of these resource areas with additional drilling. Both zones remain open in several directions and at depth. In addition, surface exploration indicates that the zones can potentially be expanded significantly to the northwest and southeast. Ongoing drilling will continue to expand these zones.
Drilling is continuing at the Pinaya project. In the upcoming months, the Company will be testing some of the newly emerging target areas on the project such as Viscachani, Minas Jorge, and Montana de Cobre. The Minas Jorge and Montana de Cobre targets are located on a separate geological trend approximately one kilometer to the northeast of the deposit already defined at Pinaya and Viscachani is located to the southeast of the Gold Oxide Skarn Zone. Initial surface work at these zones has been positive (see news release dated April 4, 2007) and priority targets for drilling have been outlined. The Company has completed two holes at the Viscachani zone and a rig is being mobilized to Minas Jorge to test the zone for the first time.
Additional drill 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
For more information please visit the company website at http://www.acero-martin.com or contact investor relations at 877-646-0067 or .
© Copyright AM Gold Inc. 2016