Acero-Martin Exploration Inc. (the “Company” or “Acero-Martin”) is pleased to announce a summary of the results from its 2007 trenching program at the Pinaya gold-copper project in southern Peru.
The objective of the trenching program was to extend, and prepare for drilling, some of the emerging target zones on the project, such as Montana de Cobre y Oro (“MCOZ”), Minas Jorge (“MJZ”), Don Pedro (“PEDRO”), and Viscachani (“VZ”). A newly discovered zone, known as Los Vientos (“LVZ”), located approximately 700 meters to the southeast of the Gold Oxide Skarn Zone (“GOSZ”), was also tested for the first time.
Over the course of 2007, 56 trenches were excavated and sampled for a total of approximately 11.25 kilometers of exposure. Within those trenches 7,503 channel samples with an average width of 1.5 meters were collected and sent to SGS Laboratories in Lima, Peru for analysis.
Assay highlights from the program include:
Maps showing the locations of the zones and trenches along with the significant results have been uploaded to: http://www.aceromartinexp.com/news/
Trenching at Pinaya has been effective at generating high quality drill targets and leading to the discovery of subsurface mineralization and deposits. Field experience has shown that due to weathering and leaching of surface rock, gold values in excess of 100 parts per billion (i.e. 0.1 g/t Au) and copper values in excess of 100 parts per million (i.e. 0.01% Cu) are considered excellent anomalous geochemical values, and indicate the potential for significant sub-surface mineralization.
A complete table of significant trenching results is included below:
Acero-Martin is pleased that significant trenching results were returned from all five of the newly emerging target areas. Two of these zones, Don Pedro and Los Vientos, have never been drill tested. All five zones have been mapped in detail and exploratory drill holes have been planned to test the targets in 2008.
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 110 km northeast of Arequipa and approximately 60 kilometers south of Xstrata’s Tintaya copper-gold mine, 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.
As of February 2008, the Company has completed 148 diamond drill holes. 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
Field samples are shipped to SGS Laboratories in Lima, Peru. Samples are crushed and a portion pulverized for analysis. 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 Quality Assurance and Quality Control (QA/QC) program including standard material of known copper and gold content, blanks, and duplicate samples is followed. Certified standards of known copper and gold content, and blanks are inserted every 20 samples. Duplicate samples are also taken every 20 samples. Any inconsistencies are addressed immediately.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the Company by Cary Pothorin, P.Geo, Acero-Martin’s Vice President of Exploration, a qualified person.
ON BEHALF OF THE BOARD
Don Currie, President and CEO
This news release has been prepared by management. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbor.
© Copyright AM Gold Inc. 2016