Acero-Martin Drills 9.80 Meters of 2.28 g/t Gold Within 27.00 m of 1.22 g/t Gold, Pinaya Project Peru
02 April 2008 - 5:05AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: ASD)(FRANKFURT: AMX)
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:
From To Interval Interval Au Cu
Hole Number (m) (m) (m) (ft) g/t %
--------------------------------------------------------------------------
PDH-148 283.00 310.00 27.00 88.58 1.22 -
Incl. 288.20 298.00 9.80 32.15 2.28 -
318.20 338.00 19.80 64.96 0.16 0.37
PDH-149 20.20 150.50 130.30 427.49 0.16 0.20
159.50 161.50 2.00 6.56 3.60 0.08
--------------------------------------------------------------------------
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
From To Interval Interval Au Cu
Hole Number (m) (m) (m) (ft) g/t %
--------------------------------------------------------------------------
PDH-15 9.50 56.30 46.80 153.54 0.32 1.10
PDH-24 169.84 172.00 22.63 74.25 0.10 1.15
PDH-46 321.70 386.50 64.80 212.60 - 1.03
PDH-54 196.50 202.50 6.00 19.69 2.73 0.07
PDH-89 143.70 156.00 12.30 40.35 0.04 1.16
PDH-92 149.45 179.50 30.05 98.59 0.77 0.54
272.00 307.10 35.10 115.16 0.21 1.20
Incl. 285.50 297.50 12.00 39.37 0.18 2.21
PDH-107 271.00 384.50 13.50 44.29 0.89 0.30
354.00 364.50 10.50 34.45 0.11 3.17
PDH-116 95.75 123.00 27.25 89.40 0.12 1.24
PDH-135 204.50 257.00 52.50 172.24 0.80 0.22
PDH-136 285.00 297.50 12.50 41.01 0.05 1.19
PDH-143 380.00 403.00 23.00 75.46 1.08 0.24
PDH-144 210.70 222.00 11.30 37.07 1.11 0.60
PDH-145 250.70 295.50 44.80 146.98 0.22 1.18
--------------------------------------------------------------------------
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.
Technical Information
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
Donald Gee, Director
This news release has been prepared by management. 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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Acero-Martin Exploration Inc. Investor Relations
1-877-646-0067 (604) 646-0640 (FAX) Email: info@acero-martin.com
Website: www.acero-martin.com
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