Montana De Cobre Gold Zone Target
|February 22, 2006
Acero-Martin Exploration Inc. (the "Company") is progressing with its 10,000-metre (32,800-foot) drill program at the Pinaya Project, which is located in southern Peru. During the first part of 2006, drilling has continued within the Western Porphyry target area, where ongoing exploration has discovered significant oxide-copper and porphyry-copper-gold mineralization. With the continued exploration success at the newly discovered Montana de Cobre ("MC") oxide-gold zone (News release dated October 20, 2005), drilling will test this target within the coming weeks.
The Montana de Cobre gold zone is a gold-oxide target located 2.5 km north of the known Main Open Pit area, where holes PDH-01 through PDH-08 were completed during 2004. Holes PDH-01 through 08 cut significant intersections of ore-grade gold mineralization, as highlighted below (previously announced):
Gold mineralization at MC appears to be controlled by the intersection of a series of long, NNW trending, steeply dipping, bedding plane faults and ENE trending, steep dipping, dextral cross faults.
The gold mineralization has been traced over an area measuring approximately 500 by 1,600 metres (1,640 feet by 5,250 feet). The geochemical footprint is defined in rock by gold assays that range up to 18,560ppb (18.56 gpt Au). Eleven samples returned assays greater than 5 g/t gold (News release dated January 20, 2006).
At MC, historic workings are up to 50 metres in depth and free gold can easily be panned from veins that commonly grade between 1-5 g/t Au to as high as 18.56 g/t Au.
MC lies within an area of low to moderate resistivity (72.2 to 105.9 ohm-m) and lies along the eastern flank of and approximately 940 metres (3,084 feet) to the NE of Cerro Antana, an area of high resistivity.
MC lies near a low chargeability embayment along the margins of and partially within a 3,500 metre (11,483-foot-long) area of high chargeability (7.1 to 9.99 mV/V) that is locally coincident with pyrite and limonite in surface exposures with variable gold values. Holes PDH-01 through PDH-08, where high-grade gold intersections were cut, lie within a subparallel chargeability anomaly to the west, which measures 1,800 metres (5,905 feet) in length.
The Montana de Cobre target area appears to be part of the upper distal portions of an oxidized magma chamber. The known "Gold Oxide Target" in the Main Open Pit area to the south represents oxidized skarn mineralization more proximal to a magma source, and finally the "Western Porphyry Target" is the nearest to the causative magma chamber, with mineralized diorite dykes and sills exposed on surface. The portions of the Pinaya Property that have been drilled to-date appear to have a NE dip to the mineralized block, resulting in porphyry targets (copper) along the western edge, oxide skarn (gold) targets to the east and oxidized gold targets (gold) to the northeast.
Mr. Donald Gee, President said "The Montana de Cobre zone will play a significant part in adding to the already impressive gold intersects at the open Pit. The sheer size of the Montana de Cobre zone could prove to be a potentially larger gold resource than earlier anticipated for the open-pit area. An impressive feature of Pinaya is the significant copper resource within the Western Porphyry area; as well as, gold in at least two oxide gold zones (the pit area and now the Montana de Cobre)."
Precise drill locations on the MC gold zone are being reviewed in the context of the overall drill program. Drilling on the MC zone will commence when the second drill rig arrives, within the next 2 weeks.
The Qualified Persons under NI 43-101 for the Pinaya Project are Jeffrey Reeder, 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