Acero-Martin
Commences 2008 Drilling Program at Pinaya Gold-Copper Project In Peru
March 3rd, 2008
Vancouver, BC
Acero-Martin
Exploration Inc. (the “Company” or “Acero-Martin”) 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.
For further information, contact
us at
1 877 646 0067
Email: info@acero-martin.com or
visit our website http://www.acero-martin.com
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.
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