|
Acero-Martin
Featured in Resource World Magazine
December 4th, 2007
Vancouver, BC
Good day – This
month Acero-Martin Exploration Inc. (ASD TSX-V) was featured in the Mining
News section of Resource World magazine. Resource World is one
of the premier print publications covering mining, oil and gas, and
alternative energy. I have included a copy of their article below and
I hope that you take the time to read through it.
Thank you for your interest in Acero-Martin Exploration and best
regards.
Ryan Fletcher
Acero-Martin Exploration Inc.
(604) 999-5603 Phone
(800) 884-5269 Toll Free
(604) 646-0640 Fax
Email: ryan@acero-martin.com
www.acero-martin.com
Acero-Martin Exploring New Copper Discovery at Pinaya
"Don Currie, president/CEO, reports that Acero-Martin
Exploration Inc. [ASD-TSXV; AMX-Frankfurt] has applied for mineral
concessions totalling 369.91 hectares to cover its new copper discovery
near its flagship Pinaya Project in southern Peru. The new zone of
copper-silver mineralization is located about 10 kilometers southeast of
the current resource area.
The new zone, known as Saitocco, which has never been drilled, returned
surface rock samples that assayed up to 1.99% copper and 71.5 grams
silver/tonne with three samples returning grades over 1% copper. The
13 rock samples averaged 0.59% copper.
Mineralization at Saitocco has now been traced over an area measuring
one kilometre by 0.5 kilometers. Initial investigation of the zone
indicates the presence of two intrusive bodies with malachite and
chrysocolla staining (copper minerals). Company geologists are of the view
that this new zone adds further potential to expand the project’s
overall resource base. Further sampling and mapping of the Saitocco
Zone continues in order to develop drill targets. Meanwhile,
regional-scale prospecting and sampling is underway on the Pinaya lands to
seek out new areas of mineralization. Drilling is ongoing as part of
a 10,000-metre program.
In the last three years the company has drilled over 140 diamond core
holes with dozens of them encountering long intercepts of copper-gold
mineralization, including hole PDH-39, which returned 83.9 metres grading
1.11% copper and 2.1 gram gold/tonne starting at surface.
Following the initial 70 holes in September 2006, an initial NI 43-101
compliant resource estimate was prepared. In all resource categories,
the estimate totalled 41.85 million tonnes containing 666,000 ounces of
gold and 385 million pounds of copper. At today’s metal prices,
this equates to about US $1.8 billion.
Acero-Martin’s strategy is to fast-track production from a starter
pit in the high grade Gold Oxide Skarn Zone (GOSZ) while continuing to
drill and expand the larger copper-rich Western Porphyry and North West
Porphyry zones. Assays from the GOSZ include hole PDH-128 that
returned 67.5 metres grading 2.00 grams gold/tonne as well as hole PDH-129
that returned 25.0 metres of 3.07 grams/tonne. Also, exploratory
drilling will be carried out on the untested trend followed by the Montana
de Cobre, Minas Jorge and Don Pedro targets.
Production is set for fourth quarter 2008 or first quarter 2009,
starting with processing existing tailings from previous operators.
Test have shown there are about 20,000 ounces of gold contained in old
tailings. This would be followed by mining the starter pit in the
GOSZ, then bulk tonnage mining of the Western and North West porphyry
zones.
Development work is also underway as well as environmental,
socio-economic and preliminary economic assessment studies."
Source: Resource World Magazine (Dec 07/Jan 08 - Volume
6/Issue 1)
|
