Acero-Martin Announces Update on Pinaya Drilling Program
July 23rd, 2008
Vancouver, BC
Acero-Martin Exploration Inc. (TSX-V: ASD; Frankfurt: AMX) ("Acero-Martin" or the "Company") is pleased to report that it has completed the previously announced phase one of its 2008 Diamond drilling program on its 100% owned Pinaya Gold-Copper Project in southern Peru.
A total of 5,588 meters (18,333 feet) was drilled in eleven holes to expand upon the copper-gold deposit outlined by previous drilling and to test a large undrilled geophysical anomaly to the east of the main mineralized body. The drill core samples have been submitted to the lab and the assay results will be reported once all of the results have been received.
The first eight holes, PDH-150 to 158, were all wide 100 to 200 meter step out holes drilled at the North Western Porphyry Zone to increase the projects overall resource base. For hole PDH-159, a deep drilling rig was brought to the site. The hole was drilled at the North Western Porphyry Zone to a depth of 800 meters and bottomed in mineralization. It was the first hole ever drilled to test the depth potential of the deposit beyond 550 meters. The final hole, PDH-160, was drilled at the Los Vientos Zone, a recently discovered target located 1 kilometer to the southeast of the main deposit with a strong geophysical signature and trenching highlights of 2.0 g/t gold over 6.7 meters, including 10.7 g/t gold over 1.2 meters (trench PTR-152). The core samples were sent to SGS Laboratories in Lima Peru for analysis. The analytical results will be reported on receipt thereof and will be used to guide further exploration in 2008.
About Acero-Martin Exploration Inc.
Acero-Martin Exploration Inc. is a resource company focused on creating shareholder value by exploring for precious and base metals, with the immediate goal of defining a major deposit at its 100 percent controlled Pinaya Project located in Peru. The Pinaya Project has an initial NI 43-101 compliant indicated resource of 29.13M tonnes grading 0.53 g/t Au and 0.42% Cu (498,000 oz Au and 269 million lbs Cu) and an inferred resource of 12.72M tonnes grading 0.41 g/t Au and 0.41% Cu (168,000 oz Au and 115 million lbs Cu). Subsequent to this estimate, Acero-Martin has completed an additional 90 holes bringing the project totals to more than 45,000 meters and 160 holes. Drilling since the release of the initial resource estimate continues to expand and define the deposit.
For further information, contact us at
1 877 646 0067
Email: info@acero-martin.com or visit our website http://www.acero-martin.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Stewart Jackson"
Stewart Jackson, PhD, P. Geol.
President and CEO
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 Dr. Stewart Jackson, P.Geol., President and CEO of Acero-Martin, and a qualified person. This news release has been prepared by management. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 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. |