AM Gold Inc.

Published : September 25th, 2007

Discovers New Copper Zone at Pinaya Project

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Keywords :   Canada | Copper | Gold | K Street | Market | Molybdenum | Peru | Silver |

Acero-Martin Discovers New Copper Zone At Pinaya Project

September 25th, 2007
Vancouver, BC

Acero-Martin Exploration Inc. (the “Company") is pleased to report that regional exploration has discovered a new copper zone at Pinaya, located approximately ten kilometres to the southeast of the current resource area.  This new zone, known as Saitocco, has never been drilled and returned surface rock grades of up to 1.99% copper.

The discovery of Saitocco gives an important indication of both the property’s untapped potential, and the ability to add significant tonnage to Pinaya’s current resource base. 

Mineralization at Saitocco has been traced over an area measuring at least 1.0 kilometers by 0.5 km.  Thirteen of twenty-seven rock chip and grab samples taken from the zone are listed in the table of sampling highlights below.  All samples were analyzed by SGS Laboratories in Lima, Peru, using 30 gram fire assay for gold and 31 element ICP analyses.

Of the samples below:

  • 3 samples returned grades greater than 1.00% copper
  • An average grade of 0.59% copper was returned from all 13 samples

Strongly anomalous silver grades as high as 71.5 g/t were also encountered in association with the copper.  A map showing the location of the Saitcco discovery can also be viewed at: http://www.aceromartinexp.com/saitoccodiscovery.pdf

Table – Saitocco Sampling Highlights

Sample

Ag

Cu

#

g/t

%

 

 

 

6853

0.9

0.49

6854

1.6

1.99

6856

0.4

0.10

12518

10.2

0.39

12519

9.2

0.25

12520

38.5

1.49

12521

39

0.09

12522

41.8

0.56

12523

29.2

0.02

12525

16.5

1.10

67703

71.6

0.26

67704

26.3

0.24

67705

59.8

0.69

Initial reconnaissance work at the zone indicates the presence of two intrusive bodies of intermediate composition with strong intermediate argillic alteration.  There is common malachite and chrysocolla staining along with copper oxides in the intrusives, mostly controlled by northeast and west-northwest trending fracture zones. 

There are numerous historical workings within the zone and the intrusive bodies appear to have been previously mined for copper by Spanish colonial era miners.  The remains of an extensive historical mining camp occur adjacent to the showings. 

The Saitocco discovery is an exciting new development at Pinaya and adds considerable further potential to expand the projects overall resource base.  These copper showings occur approximately 10 kilometres to the southeast of the main Western Porphyry and Gold Oxide Skarn Zone resource areas.  The occurrence of this style of mineralization, at this distance from the main resource area indicates the size potential of mineralizing system at Pinaya.

The Company has applied for concessions Tico 2 and Tico 3 (369.91 Ha), which cover this area.  The titles are pending, and should take less than three months to be granted.

The Company plans to continue to sample and map the Saitocco zone in order to develop targets for drilling.  In addition, regional scale prospecting and sampling is ongoing over the Pinaya project to encounter more new areas of mineralization.  Drilling is also ongoing on the project.

Owned 100% by Acero-Martin, the Pinaya project consists of 27 contiguous mining concessions covering approximately 15,500 hectares.  The project lies within the Andahuaylas-Yauri Belt of southern Peru, an emerging and increasingly important porphyry copper and skarn belt.   The belt hosts some of the richest copper-gold-molybdenum deposits in Latin America including Las Bambas, Los Chancas, Cotabambas and Tintaya.

The Company is compliant under National Instrument 43-101 for the Pinaya project.  Cary Pothorin, P. Geo is the qualified person responsible for the exploration program at Pinaya and is supervising the quality control and quality assurance program. A quality control program of standards, blanks and duplicates is maintained.

About Acero-Martin Exploration Inc.

Acero-Martin Exploration Inc is a mineral exploration and development company with projects in North and South America.  The Company is currently focused on developing its flagship Pinaya gold-copper project in southern Peru.  Acero-Martin offers investors the opportunity to share ownership in the rapid development of the project to production.  Acero-Martin trades on the TSX-Venture exchange under the symbol ASD and the Frankfurt stock exchange under the symbol AMX.

Stock Information
  Symbol: ASD (TSX-V)
Recent Price: C$0.27
Shares Outstanding: 56,868,379
Market Cap: C$15 M
Contact Information
  Acero-Martin Exploration

Ph: (877) 646-0067

Fax: (604) 646-0640

Email: info@acero-martin.com

http://www.acero-martin.com

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Suite 1601, 700 West Pender Street, Vancouver, BC, Canada, V6C 1G8

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Gold and Silver Prices for these countries : Canada | Peru | All

AM Gold Inc.

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CODE : AMG.V
ISIN : CA00443T2002
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AM Gold is a gold development stage company based in .

AM Gold holds various exploration projects in Canada.

Its main exploration properties are MINAS LUCHO, LA MAMITA and PINAYA in Peru and RED MOUNTAIN in Canada.

AM Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 784 273 as of today (US$ 603 798, € 539 373).

Its stock quote reached its highest recent level on November 19, 2010 at CA$ 7.80, and its lowest recent point on January 22, 2016 at CA$ 0.03.

AM Gold has 4 357 073 shares outstanding.

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