Home Corporate projects News Investors Contact
Gold, Copper and Growth


10,000 Meter (32,800 FT) Drill Program For Pinaya

February 8, 2006
Acero-Martin Exploration Inc. is pleased to announce that it has commenced a 10,000-meter (32,800-foot) drilling program on the Pinaya project in southern Peru.

Copper targets

The initial drill targets will be in the area of the southern portion of the Western Porphyry. 2005 drill holes PDH-016,017 and 020 (announced August 23, 2005), in this area returned significant intersections as summarized below:

Drill Hole From (m)  To (m)  Interval (m)  Au (g/t)   Cu (%)
PDH-016 0.00 61.00 61.00 0.53 0.02
" 91.00 181.50 90.50 0.87 0.68
" 237.00 260.50 23.50 0.93 0.79
PDH-017 91.50 188.00 96.50 0.78 0.67
includes 92.30 150.00 57.70 1.04 1.00
PDH-020 108.00 161.25 53.25 0.31 0.60
includes 128.25 158.25 30.00 0.24 1.02

The above grades are comparable with those found at the Regalito Copper project in Chile (*measured and indicated 627 million tonnes of 0.43 % copper and inferred 131 million tonnes of 0.41 % copper); Peru Copper's Toromocho project in Peru (**estimated inferred 655 million tones of 0.61 % copper).
* per www.regalitocopper.com
** per www.perucopper.com

Gold targets

Montana de Cobre (approximately 2.5 Km or 1.55 miles north of the open pit) situated at the northern border of the Western Porphyry will be drilled to test the new gold zone. 11 rock samples in this zone have returned between 6.04 g/t gold and up to 18.56 g/t gold. Gold mineralization has been traced over an area measuring 500 metres by 1,600 metres (1,640 feet by 5,250 feet).

Open pit area (previously returned high gold values) will further test extensions of the oxide gold zone. Current geological interpretation suggests the full extent of the gold oxide zone remains open. 2004 and 2005 Drill holes in the Pit area returned significant gold values as summarized below (announced Feb. 16, 2005):

Drill Hole From (m)  To (m)  Interval (m)  Au (g/t)   Cu (%)
PDH-01 49.50 80.50 31.00 4.14 0.26
PDH-02 146.00 159.50 13.50 2.00 0.08
PDH-03 0.00 79.30 79.30 0.82 0.12
PDH-04 58.20 67.20 9.00 1.01 0.11
PDH-05 0.00 89.30 89.30 0.97 0.08
PDH-06 25.70 41.60 15.90 0.55 0.13
PDH-07 0.00 85.50 85.50 1.34 0.12
PDH-08 99.50 124.00 24.50 0.71 0.17

The company will continue its ongoing surface exploration program which includes detailed mapping, trenching, soil and rock sampling. Supplemental IP and mag surveys are planned as well. It is estimated that a second drill rig will be mobilized near the end of February.

Donald Gee, President said: "The 2006 exploration and drilling initiative will accelerate the value of Pinaya. This phase of drilling will not only confirm earlier ore grade copper and gold mineralization, but also extend the known porphyry and oxide gold zones. The drilling planned for the oxide gold targets in the Montana de Cobre and the open pit area will expand the known oxide gold zones which will greatly assist the establishment of an economic reserve. Additional targets are under review by our technical staff. There is little doubt that Pinaya will prove it self to be a significant deposit in southern Peru."

The Qualified Persons under NI 43-101 for the Pinaya Project are Jeffrey Reeder, P. Geo and James McCrea P. Geo.

Acero-Martin Exploration Inc. is an exploration company, which is focused in locating and defining economic precious metals deposits. Currently the Company has two exploration projects: Pinaya in southern Peru and Red Mountain in the Yukon Territories.

On Behalf of the Board:

(Signed) "Donald Gee"
Donald Gee, President and Director

For further information contact: Donald Gee, President at (604) 618-3433 or by email at [email protected]

This news release has been prepared by management. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This document contains 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 of achievements implied by these forward looking statements. We seek safe harbor
Sign up for latest updates
*  Email Address:

© Copyright AM Gold Inc. 2016