Acero-Martin Commences 2008 Drilling Program at Pinaya Gold-Copper Project in Peru
03 3월 2008 - 11:30PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: ASD)(FRANKFURT: AMX)
is pleased to announce that it has commenced a major 2008 drilling
program on its wholly owned Pinaya gold-copper project in southern
Peru.
The first phase of the program is underway and will consist of
approximately 6,000 meters of diamond drilling, with over 25,000
meters currently planned for the year. One rig is currently turning
on the property and a second is expected on site in April to
accelerate the program. The 2008 program is anticipated to be the
largest drilling program carried out on the project since
exploration commenced in 2004.
The focus of this year's drilling program will primarily consist
of large step-out drill holes in areas of known mineralization
including the North Western Porphyry ("NWPZ"), Western Porphyry
("WPZ"), and Montana de Cobre y Oro Zones ("MCOZ"). The goal will
be to expand the project's overall resource base.
Currently a drill rig is stationed at the North Western Porphyry
Zone which remains open to the north, east, and at depth. The rig
is drilling large 100 and 200 meter step out holes to expand beyond
drill hole PDH-146, located at the far northeast corner of the zone
which previously intersected 1.18% copper and 0.20 g/t gold over
44.80 meters.
As a follow up to the successful 2007 surface exploration
program, strategic holes will also be drilled to test some of the
new emerging target areas identified through surface soil sampling,
trenching, and mapping including: Los Vientos ("LVZ"), Don Pedro
("PEDRO"), Viscachani ("VZ"), and Minas Jorge ("MJZ"). Many of
these targets were newly defined in 2007 and have never been
drilled.
A map showing the location of the target zones on the Pinaya
project has been uploaded to:
http://www.aceromartinexp.com/news/
Local drilling contractor Geodrill S.A. based out of Arequipa
has been retained to complete the first phase of the drilling and
Acero-Martin has received all of the necessary permits from the
Peruvian Ministry of Energy and Mines. Drilling results will be
reported throughout the year as the analytical data is received,
validated and compiled.
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
The drilling program is under the supervision of Mr. Cary
Pothorin P. Geo., Acero-Martin's Qualified Person as defined by NI
43-101. Core samples will be 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.
ON BEHALF OF THE BOARD
Don Currie, President and CEO
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
Acero-Martin Exploration (TSXV:ASD)
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