Acero-Martin
Reports Additional Drilling Results From Its Pinaya Gold-Copper Project, Southern Peru
November 1st, 2007
Vancouver,
BC
Acero-Martin
Exploration Inc. (the "Company" TSX-V:ASD) is pleased report that ongoing
drilling has intersected significant gold-copper mineralization in four
target areas of the Pinaya project, southern Peru.
Eight new drill holes
from the North Western Porphyry Zone, Gold Oxide Skarn Zone, Viscachani
Zone, and Minas
Jorge Zone
all returned significant intervals of gold-copper mineralization.
The holes at the North
Western Porphyry and Gold Oxide Skarn Zones were drilled to expand the projects
overall resource base and to upgrade resource classification levels; while
the holes at Viscachani and Minas Jorge were exploratory, testing new zones
that are located apart from the 2006 resource area.
For a map showing the
location of the zones, please use the following link: http://aceromartinexp.com/_resources/zonesoct07.pdf
NORTH WESTERN
PORPHYRY ZONE (NWPZ):
Expansion drilling at
the North Western Porphyry Zone continues to yield very encouraging
results. In particular:
1. PDH-135, located 100 meters northeast
of the 2006 Pinaya resource boundary, intersected 0.94 grams
per tonne gold and 0.21% copper over 38.90 meters.
2. PDH-136, located 200 meters northeast
of the 2006 Pinaya resource boundary, intersected 1.19% copper and 0.05 grams per tonne
gold over 12.50
meters.
3. PDH-142, located 200 meters northeast
of the 2006 Pinaya resource boundary, returned 0.80% copper and 0.04 grams per tonne
gold over 38.50
meters.
A table of drilling
results is provided below for further reference:
Hole Number
|
Zone
|
From
|
To
|
Interval
|
Interval
|
Au
|
Cu
|
|
|
(m)
|
(m)
|
(m)
|
(ft)
|
g/t
|
%
|
|
|
|
|
|
|
|
|
PDH-135
|
NWPZ
|
204.50
|
348.00
|
143.50
|
470.80
|
0.57
|
0.15
|
Incl.
|
|
209.10
|
248.00
|
38.90
|
127.62
|
0.94
|
0.21
|
|
|
|
|
|
|
|
|
PDH-136
|
NWPZ
|
285.00
|
297.50
|
12.50
|
41.01
|
0.05
|
1.19
|
|
|
353.00
|
421.00
|
68.00
|
223.10
|
0.57
|
0.21
|
|
|
|
|
|
|
|
|
PDH-139
|
NWPZ
|
215.50
|
266.50
|
51.00
|
167.32
|
0.10
|
0.55
|
|
|
|
|
|
|
|
|
PDH-142
|
NWPZ
|
247.00
|
285.50
|
38.50
|
126.31
|
0.04
|
0.80
|
Drilling will continue
at the North Western Porphyry Zone to year end in order to continue to
expand the zone’s resource base.
GOLD OXIDE
SKARN ZONE (GOSZ):
A section of hole
PDH-129 from the Gold Oxide Skarn Zone required re-assaying, and the full
mineralized interval can now be reported:
1. Starting near
surface, PDH-129 intersected 1.75 grams per
tonne gold over 54.85
meters including 3.07 grams
per tonne over 23.70
meters (previously reported).
Hole Number
|
Zone
|
From
|
To
|
Interval
|
Interval
|
Au
|
Cu
|
|
|
(m)
|
(m)
|
(m)
|
(ft)
|
g/t
|
%
|
|
|
|
|
|
|
|
|
PDH-129
|
GOSZ
|
16.00
|
70.85
|
54.85
|
179.95
|
1.75
|
0.28
|
Incl.
|
|
17.80
|
41.50
|
23.70
|
77.76
|
3.07
|
0.48
|
The 2007 drilling at
the Gold Oxide Skarn Zone has now been completed. Minefill Services
Inc. is currently completing a NI 43-101 compliant preliminary economic
assessment or “scoping study” to determine the potential for,
and economic parameters of, developing an initial open pit starter mining
operation at the zone; the results of which are expected to be received
within the coming weeks.
MINAS JORGE
(MJZ) AND VISCACHANI ZONES (VZ):
Exploration holes were
drilled at the Minas Jorge and Viscachani Zones to test surface gold and
copper anomalies identified through previous sampling and trenching (see
news release dated April 4, 2007).
The Minas Jorge Zone is
located on a separate geological trend approximately one kilometer to the
northeast of the main resource area at Pinaya and Viscachani is located to
the southeast of the Gold Oxide Skarn Zone.
Initial drilling at the
zones returned several long intersections with relatively low grade gold
and occasional higher grade individual samples. In particular:
1. Starting near
surface, PDH-137 at the Viscachani Zone intersected 1.16 grams
per tonne gold over 19.50
meters.
2. PDH-138, located 300 meters south of
PDH-137 in
the Viscachani Zone, intersected high grade cores of 12.14 grams
per tonne gold over 1.50
meters and 3.12 grams
per tonne gold over 1.40
meters.
3. PDH-140, drilled at
the Minas Jorge Zone returned a high grade core of 1.19 grams per tonne
gold over 3.80
meters.
Hole Number
|
Zone
|
From
|
To
|
Interval
|
Interval
|
Au
|
Cu
|
|
|
(m)
|
(m)
|
(m)
|
(ft)
|
g/t
|
%
|
|
|
|
|
|
|
|
|
PDH-137
|
VZ
|
9.00
|
62.00
|
53.00
|
173.88
|
0.64
|
0.12
|
Incl.
|
|
15.50
|
35.00
|
19.50
|
63.98
|
1.16
|
-
|
|
|
113.00
|
191.50
|
78.50
|
257.55
|
0.49
|
-
|
Incl.
|
|
113.00
|
144.50
|
31.50
|
103.35
|
0.65
|
-
|
|
|
|
|
|
|
|
|
PDH-138
|
VZ
|
99.00
|
106.50
|
7.50
|
24.61
|
0.05
|
0.39
|
|
|
121.00
|
122.50
|
1.50
|
4.92
|
12.14
|
-
|
|
|
181.10
|
182.50
|
1.40
|
4.59
|
3.12
|
-
|
|
|
|
|
|
|
|
|
PDH-140
|
MJZ
|
35.80
|
72.00
|
36.20
|
118.77
|
0.28
|
-
|
|
|
107.00
|
110.90
|
3.90
|
12.80
|
1.19
|
-
|
|
|
127.00
|
156.40
|
29.40
|
96.46
|
0.25
|
-
|
|
|
157.50
|
179.00
|
21.50
|
70.54
|
0.37
|
0.10
|
The initial drilling results at these new zones are encouraging and
indicate the important exploration potential of the Pinaya property.
The Company plans to continue to explore these target areas with the
objective of testing the mineralization with further drill holes.
“We continue to be encouraged by the size and continuity of the
mineralization we are encountering with step-out drilling at the main North
Western Porphyry and Gold Oxide Skarn Zones,” said Don Currie,
President and CEO. “All the while exploratory drilling at the
Minas Jorge and Viscachani Zones indicates the strong exploration and
growth potential of the large claim block we control at Pinaya.”
The orientation of mineralized zones reported above is variable but,
true widths are estimated to be roughly 75 per cent of those stated. For a
location map of the drill holes in the Pinaya area, please use the
following link: http://www.aceromartinexp.com/topodrillingoct07.pdf
A total of 144 drill holes, for 38,500 meters,
have now been completed at Pinaya. In September of 2006, based on the
first 70 of these holes the Company released an initial NI 41-101 compliant
mineral resource estimate as prepared by J.D. Blanchflower, P. Geo.
Using a US$5.50 Gross Metal Value (GMV) cut off, the report estimated that
Pinaya hosted 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.
Acero-Martin’s development strategy for the Pinaya project is to
fast-track production from the high-grade Gold Oxide Skarn Zone, while
continuing to drill and expand the other mineralized zones located on the
property.
Drilling is ongoing at the Pinaya project. The 2007 diamond
drilling program will continue to expand the North Western Porphyry Zone
area, and if time permits will test some outlying target areas in the
Montana de Cobre Zone.
Additional drill results will be released as they become available.
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’s 100%-owned Pinaya project is one of
Peru’s newest and richest copper-gold porphyry deposits. The project
is located approximately 110
km northeast of Arequipa, Peru and is favored with
excellent nearby mining infrastructure. An initial independently
calculated, indicated, and inferred resource estimated the mineralization
to contain 41.85 million tonnes grading 0.42% Cu and 0.47 g/t Au. Non-stop
drilling since the release of the initial resource continues to expand the
size of the deposit. Alongside the drilling the company is currently
completing a scoping study to determine the potential for, and economic
parameters of, developing an initial 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
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