News ReleasePress Release Source: Acero-Martin Exploration Inc.
Acero-Martin Cuts 64.80 Meters/212.5 Feet of 1.03% Copper at Pinaya
Tuesday June 6, 1:23 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 6, 2006 -- Acero-Martin Exploration Inc. (the "Company")(TSX VENTURE:ASD.V - News)(FWB: AMX) is pleased to report additional drill results from its ongoing 10,000 meter 2006 drill program at the Pinaya Property, located in southern Peru. The Company is focusing on infill drilling of known the copper-gold mineralization at the Western Porphyry Zone (herein "WPZ") in order that it may complete a 43-101 compliant Resource Estimate during the 4th quarter of 2006. Additional exploration is focusing on outlining bulk mineable gold mineralization at Montana de Cobre Gold Zone (herein "MCOZ") and at the Gold Oxide Skarn Zone (herein "GOSZ") in the Open Pit area. The Company is in receipt of results for holes PDH-44 and PDH-45 from the MCOZ, and PDH-46 through PDH-50 from the WPZ.
Highlights include:
- 64.8 meters (212.5 feet) of 1.03% Cu from PDH-46
- 98.0 meters (321.4 feet) of 0.69 gpt Au and 0.39% Cu from PDH-47
- 120 meters (393.6 feet) of 0.23 gpt Au and 0.35% Cu from PDH-48
- 25.7 meters (84.3 feet) of 0.90 gpt Au and 0.40% Cu from PDH-49(i)
- 55.5 meters (182 feet) of 0.51 gpt Au and 0.45% Cu from PDH-50(i)
(i) Holes PDH-49 and PDH-50 were lost in underground workings
Results are as follows:
Drill Hole From (m) To (m) Width (m/ft) Au g/t Cu %
PDH-044 111.80 160.40 48.6/159.1 0.37 0.12
PDH-045 No significant results
PDH-046 15.20 23.00 7.8/25.6 0.39 0.11
161.75 321.70 159.75/524.5 0.14 0.15
321.70 386.50 64.8/212.5 0.02 1.03
PDH-047 156.40 273.20 116.8/383.1 0.61 0.33
(Includes) (161.40) (259.40) (98.0/321.4) (0.69) (0.39)
PDH-048 54.70 174.70 120.0/393.6 0.23 0.35
PDH-049(i) 13.50 39.20 25.7/84.3 0.90 0.40
(Includes) (23.50) (39.20) (15.7/51.5) (1.20) (0.63)
PDH-050 12.50 68.00 55.5/182.0 0.51 0.45
(i) Hole lost at 39.2 meters
ADVERTISEMENT
- Holes PDH-44 and 45 were designed to test for the limits of a series of bedding/fault controlled gold zones at MCOZ within a soil/rock geochemical anomaly that measures 1600 meters in length by 600 meters in width.
- Hole PDH-46 lies between PDH-23 and PDH-24, the furthest hole drilled in the northern WPZ. This hole was designed to test for near surface Cu and Au mineralization and was mineralized from surface to a depth of 386.50 meters/1,268 ft.
- Hole PDH-47 was designed to infill the area between the WPZ and GOSZ mineralization and lies 50 meters northeast of PDH-17 and 180 meters west -southwest of PDH-001 which returned 121.95 m/399 ft of 1.21 g/t Au and 0.25% Cu; including 31.00 m of 4.14 g/t and 0.26% Cu. The hole also ended with 27.0M/89 ft of 0.61% Cu and 0.18% Cu. It is significant to note, that the mineralization in Hole 47 appears to be thicken as it dips below the Open Pit Area. Hole PDH-047 returned 116.8m/383.1 ft of 0.6 g/t gold and 0.332% copper.
- Hole PDH-48, located within the northern part of the WPZ, was designed to test for near surface copper and gold mineralization intersected in PDH-35 where 103.5 meters (340 feet) returned 0.29 gpt Au and 0.21% Cu from 18.5-127.0 meters.
- Holes PDH-49 and PDH-50, both located within the southern part of the WPZ, are about 50 meters southwest of PDH-39, which previously returned 83.95 metres (275.4 feet) of 2.1 g/t Au and 1.11% copper. These holes lie at the northern end of a 400 meter long untested ridge of copper and gold anomalism. Both of these holes were lost in underground workings.
In addition, a recent structural ASTER Imagery interpretation at 1:30,000 scale has defined additional exploration targets comprised of favorable structural targets and alteration suites within the Pinaya Project area. This will greatly assist to fast track surface exploration of the remaining project area.
Donald Gee, President and Chief Executive Officer, said: "The high grade results from PDH-046 now extends the known copper mineralized zone in the Western Porphyry over a strike length of approximately 1,400 meters by 350 meters. The significance of PDH-046 that contained mineralization from surface to a depth of 386.50 meters/1,268 ft, including grades up to 1.03% copper across 64.8 meters/212.5 ft, is that it shows the existence of high-grade copper and gold mineralization associated with a ridge that extends over 1.7 km strike length. This bodes extremely well for a potentially low-cost, open-pittable, copper-gold deposit.
The election of Allan Garcia as President is extremely encouraging for continued investment into mineral rich Peru. The Peruvian people have elected a President whose mandate includes encouraging foreign investment and strong North American alliances. This is a fantastic continuing opportunity for Acero-Martin and validates the investment we have made in Peru and especially in the local community of Pinaya."
The Company is compliant under National Instrument 43-101 for the Pinaya project, and independent consultants are supervising the quality control and quality assurance program. Core samples are transported to SGS Labs (a laboratory certified by ISO 9002) in Lima, Peru. Gold values are determined by 30-gram fire assay fusion with an atomic absorption spectroscopy finish. All samples are also analyzed for 35 elements by ICP and total digestion and those samples anomalous in copper are reanalyzed by atomic absorption (four-acid digestion). A quality control program of standards, blanks and duplicates is maintained. Jeffrey Reeder, P.Geo, is the qualified person responsible for the exploration program at Pinaya.
About Acero-Martin Exploration Inc.
Acero-Martin Exploration Inc. is an exploration company, which is focused in locating and defining economic precious metals deposits. Currently the Company has two exploration projects: Pinaya in southern Peru and Red Mountain in the Yukon Territories. For additional information please go to https://www.acero-martin.com or https://www.goldmau.com/asd.htm.
Donald Gee, President and Director
This news release has been prepared by management.
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.