Acero-Martin Exploration Inc. (the “Company” or “Acero-Martin”) is pleased to announce that new drilling at its wholly owned Pinaya copper-gold deposit in southeastern Peru continues to strengthen the resource potential of the project.
Five new step-out drill holes from the North Western Porphyry Zone (“NWPZ”) area have all intersected wide intervals of porphyry copper-gold mineralization. In particular:
To date, thirty-six drill holes at the North Western Porphyry Zone have defined an area measuring at least 600 meters in length and up to 400 meters in width, with mineralization occurring from near surface to as deep as 569 meters.
The North Western Porphyry Zone is open to the north, east, west, and at depth. The zone is one of several deposits and targets on the Pinaya property which have similar geochemical and geophysical signatures.
Figure: Significant Assay Results (Drill Holes 143-147)
The intersections represent apparent thickness, 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/topo_drilling_06_07.pdf
The drilling program at Pinaya has been successfully concluded for 2007. A total of 53 drill holes, for 19,600 meters were drilled this year, bringing the project total to 40,900 meters and 149 holes since drilling commenced in 2004.
With the results reported above, data for 147 diamond drill holes at the Pinaya project have been released, only 70 of which were included in the initial resource estimate reported in September of 2006. The assay results from the final two holes drilled in 2007 (PDH-148 and 149) are pending and will be released as soon as the analytical data is received, validated and compiled.
Core of either HQ or NQ size is split in half on site using a diamond saw, and shipped to SGS Labororatories in Lima, Peru. Samples are crushed and a portion pulverized for analysis. Trench and drill core samples are assayed for gold using a 30 gram fire assay procedure with a gravimetric or Atomic Absorption (AA) finish. A 36-element ICP analysis is then carried out using an Aqua Regia (4 acid) digestion. Copper assays over 1.0 % are reanalyzed using an AA procedure.
A QA/QC program including standard material of known copper and gold content, blanks, and duplicate samples is followed. Standards and blanks are inserted every 20 samples. Duplicate samples are also taken every 20 samples. Approximately 5% of all samples are sent to an alternate laboratory (ALS Chemex Laboratories in Lima, Peru) for check assaying of gold and copper. Any inconsistencies are addressed immediately.
Cary Pothorin (P.Geo), Acero-Martin’s VP of Exploration, is the Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
About Acero-Martin Exploration Inc.
Acero Martin’s 100%-owned Pinaya project hosts one of Peru’s newest and richest copper-gold porphyry/skarn deposits. The project is located approximately 110 km northeast of Arequipa and is favoured with excellent nearby mining infrastructure.
In September of 2006, based on the first 70 holes drilled, an initial independently calculated NI 43-101 resource estimated that Pinaya hosts 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.
Non-stop drilling since the release of the initial resource continues to work to expand the size of the deposit and test new zones of mineralization. Alongside the drilling the company is currently completing a preliminary economic assessment (“scoping study”) to determine the potential for, and economic parameters of, developing a starter open pit mining operation. Acero-Martin trades on the TSX-Venture exchange under the symbol ASD and the Frankfurt stock exchange under the symbol AMX.
For more information please visit the company website at http://www.acero-martin.com or contact investor relations at 877-646-0067 or .
ON BEHALF OF THE BOARD
© Copyright AM Gold Inc. 2016