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Press Release Source: Acero-Martin Exploration Inc.
Acero-Martin Intersects 136 Meters /446.1 ft of 0.79 g/t Au and 0.55% Cu '0.98% Cu Equiv.'
Tuesday August 15, 12:01 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Aug 15, 2006 -- Acero-Martin Exploration Inc. (the "Company") (TSX VENTURE:ASD.V - News)(FWB: AMX) is pleased to release additional drill results from its 10,000-metre 2006 drill program at the Pinaya property, located in southern Peru.
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Drill hole PDH-069 intersected a zone of gold-copper mineralization of 136 metres/446.1 feet grading 0.79 grams per tonne gold and 0.55 per cent copper (0.98 % Copper Equivalent). The hole was located in the southern portion of the Western Porphyry Zone (WPZ) and was collared 50 meters northeast of PDH-060 which previously returned 103 metres/338.8 feet grading 1.28 grams per tonne gold and 1.21 per cent copper (1.91 % Copper Equivalent).
Drilling continues to confirm that the WPZ may dip below the Gold Oxide Skarn Zone (GOSZ) which hosts an open pit measuring 300 meters long by 30 meters wide and as much as 30 meters deep. The WPZ zone remains open to the north, south and east and at depth. Known mineralization at the WPZ extends over a strike length of 1,500 m by 350 m.
Au Eq Cu Eq
Drill From To Width Au (1) (1)
Hole (m) (m) (m/ft) g/t Cu % g/t %
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PDH-062 108.50 230.60 122.10 / 400.49 0.51 0.41 1.26 0.69
includes 169.00 184.20 15.20 / 49.86 0.15 1.30 2.53 1.38
includes 215.50 230.60 15.10 / 49.53 1.75 1.33 4.18 2.29
PDH-063 73.75 140.20 66.45 / 217.96 0.39 0.57 1.43 0.78
PDH-064 175.30 300.50 125.2 / 410.66 0.54 0.26 1.02 0.56
PDH-065 0.00 26.00 26.00 / 85.28 0.06 0.90 1.71 0.93
26.00 36.00 10.00 / 32.80 0.27 0.11 0.47 0.26
PDH-066 3.70 48.25 44.55 / 145.96 0.73 0.36 1.39 0.76
PDH-067 19.60 52.50 32.60 / 106.93 0.13 1.22 2.36 1.29
81.40 93.90 12.50 / 41.00 0.05 0.36 0.71 0.39
133.30 140.80 7.50 / 24.60 0.55 0.01 0.57 0.31
PDH-068 147.00 195.50 48.50 / 159.08 0.59 0.48 1.47 0.80
PDH-069 208.50 344.50 136.00 / 446.08 0.79 0.55 1.80 0.98
PDH-070 171.40 277.50 105.70 / 346.70 0.34 0.23 0.76 0.42
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(1) Copper equivalent values (CuEq) and gold equivalent values (AuEq)
are estimated using long-term metal prices, including copper at $1.20
(U.S.) per pound and gold at $450 (U.S.) per ounce. Adjustment
factors to account for differences in relative metallurgical
recoveries for gold and copper will depend upon the completion of
definitive metallurgical testing. CuEq equals Cu per cent plus Au
gram per tonne multiplied by 14.47/(1.20 multiplied by 22.05); AuEq
equals Au gram per tonne plus Cu per cent multiplied by 22.05
multiplied by 1.2/14.47
Drill holes PDH-62 through 70, with the exception of PDH-067 were completed within the southern portion of the Western Porphyry Zone (herein "WPZ").
PDH-067 was collared 250 meters southeast of the gold oxide skarn zone (GOSZ). The hole intersected strong near surface copper mineralization returning 32.60 meters / 106.9 feet of 0.13 g/t Au and 1.22 percent copper (1.29 % Copper Equivalent). The hole was to test the gold and copper skarn mineralization and to determine the optimal drilling direction in this area. Previous holes in this zone PDH-011, 27 and 28 were drilled on azimuth of 270. PDH-067 was collared on the PDH-011 site and drilled on an azimuth of 225.
Regarding the recent drill results, Jeff Reeder, Vice-President of Exploration said: "Our understanding of the geometry and size of the porphyry at Pinaya continues to expand. The recent drilling results confirm that the size of the porphyry increases as it approaches the GOSZ to the east. In addition, drill hole 67, located south of the Open Pit and Western Porphyry showed strong near surface copper mineralization. This indicates that the mineralization is wide open to the south of the current drilling."
The Company is currently preparing a National Instrument 43-101-compliant resource calculation due in Q4 (fourth quarter) of this year.
A drill hole location map is available at: https://www.aceromartinexp.com/_resources/Topo_Drill.pdf.
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 International Standards Organization (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.