Acero-Martin Exploration Inc. (“the Company”) is pleased to report that regional exploration has discovered a new copper zone at Pinaya, located approximately ten kilometres to the southeast of the current resource area. This new zone, known as Saitocco, has never been drilled and returned surface rock grades of up to 1.99% copper.
The discovery of Saitocco gives an important indication of both the property’s untapped potential, and the ability to add significant tonnage to Pinaya’s current resource base.
Mineralization at Saitocco has been traced over an area measuring at least 1.0 kilometers by 0.5 km. Thirteen of twenty-seven rock chip and grab samples taken from the zone are listed in the table of sampling highlights below. All samples were analyzed by SGS Laboratories in Lima, Peru, using 30 gram fire assay for gold and 31 element ICP analyses.
Of the samples below:
Strongly anomalous silver grades as high as 71.5 g/t were also encountered in association with the copper. A map showing the location of the Saitcco discovery can also be viewed at: http://www.aceromartinexp.com/saitoccodiscovery.pdf
Table – Saitocco Sampling Highlights
Initial reconnaissance work at the zone indicates the presence of two intrusive bodies of intermediate composition with strong intermediate argillic alteration. There is common malachite and chrysocolla staining along with copper oxides in the intrusives, mostly controlled by northeast and west-northwest trending fracture zones.
There are numerous historical workings within the zone and the intrusive bodies appear to have been previously mined for copper by Spanish colonial era miners. The remains of an extensive historical mining camp occur adjacent to the showings.
The Saitocco discovery is an exciting new development at Pinaya and adds considerable further potential to expand the projects overall resource base. These copper showings occur approximately 10 kilometres to the southeast of the main Western Porphyry and Gold Oxide Skarn Zone resource areas. The occurrence of this style of mineralization, at this distance from the main resource area indicates the size potential of mineralizing system at Pinaya.
The Company has applied for concessions Tico 2 and Tico 3 (369.91 Ha), which cover this area. The titles are pending, and should take less than three months to be granted.
The Company plans to continue to sample and map the Saitocco zone in order to develop targets for drilling. In addition, regional scale prospecting and sampling is ongoing over the Pinaya project to encounter more new areas of mineralization. Drilling is also ongoing on the project.
Owned 100% by Acero-Martin, the Pinaya project consists of 27 contiguous mining concessions covering approximately 15,500 hectares. The project lies within the Andahuaylas-Yauri Belt of southern Peru, an emerging and increasingly important porphyry copper and skarn belt. The belt hosts some of the richest copper-gold-molybdenum deposits in Latin America including Las Bambas, Los Chancas, Cotabambas and Tintaya.
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