Acero-Martin Exploration Inc. (“Acero-Martin” or the “Company”) is pleased to report the results from the final two drill holes completed during the 2007 diamond drilling program at the Pinaya gold-copper project in southern Peru.
Drill holes PDH-147 and 148 were both step-out, resource expansion holes drilled at the North Western Porphyry Zone target area. The best hole, PDH-148, intersected 9.80 meters of 2.28 g/t gold within 27.00 m of 1.22 g/t gold. A table summarizing the results is included below:
Drilling at the North Western Porphyry Zone has been focused on expanding the deposit with large 100 and 200 meter step-out holes. Drill hole PDH-148 was a 100 meter step-out to the northeast of PDH-136 and PDH-149 was drilled 100 meters to the southwest of PDH-132. An up-to-date drill hole location map has been uploaded to: http://www.aceromartinexp.com/news/
The copper-gold deposit at the North Western Porphyry Zone has now been defined over a surface area measuring at least 700 meters in length and up to 400 meters in width, with mineralization running from near surface to as deep as 569 meters. This is considerably greater than the roughly 400 meter by 150 meter area the zone had been defined over at the time of the initial 43-101 resource estimate.
The zone remains open for expansion to the northwest, northeast, southeast, and at depth. It is one of several porphyry and skarn deposits and exploration targets that have been defined on the Pinaya project which the Company is continuing to define, explore, and expand.
Drilling recently recommenced at Pinaya for 2008, and a rig is currently stationed at the North Western Porphyry Zone continuing with the 100 to 200 meter step-out holes (see news release dated March 3rd 2008). Drill holes PDH-24, 46, and 89 drilled previously in the northwest corner of the North Western Porphyry Zone intersected an important copper-rich structural zone with highlights of up to 64.80 meters of 1.03% Cu. Holes are planned to continue to trace the high grade copper to the northwest. In addition, holes will continue to expand the North Western Porphyry Zone to the northeast, southeast, and test the deposit at depth.
Results from the ongoing 2008 program will be reported as the analytical data is received, validated and compiled. A table of previous drilling highlights from the North Western Porphyry target is also included below:
Table of Previous Drilling Highlights – North Western Porphyry Zone
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 an additional 79 holes bringing the project total to 40,900 meters and 149 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 .
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 quality assurance/quality control (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.
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 OF DIRECTORS
© Copyright AM Gold Inc. 2016