VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 9, 2007) -
Acero-Martin Exploration Inc. (the "Company" or "Acero-Martin") (TSX VENTURE:ASD)(FRANKFURT:AMX) is pleased to report that five new drill holes from the Gold Oxide Skarn Zone of its wholly owned Pinaya project in southeastern Peru have all interested significant gold-copper mineralization. These results include:
- 2.15 grams per tonne gold over 6.00 meters and a separate zone of 0.61% copper over 67.00 meters in drill hole PDH-115.
- 0.46 grams per tonne gold and 0.25% copper over 31.50 meters in drill hole PDH-117.
The new results have extended the strike length of the Gold Oxide Skarn Zone approximately 150 meters to the northwest and confirm that the deposit has significant tonnage expansion potential. The Gold Oxide Skarn Zone has now been confirmed to be mineralized over a strike length of 750 meters and is wide open for expansion in both directions.
A table of drilling results is provided below for further reference. Hole From To Interval Interval Au Cu Number (m) (m) (m) (ft) g/t % -------------------------------------------------------------------------- PDH-111 113.50 130.00 16.50 54.13 0.12 0.19 145.90 160.00 14.10 46.26 0.36 0.18 185.50 199.00 13.50 44.29 0.06 0.22 PDH-113 64.50 84.00 19.50 63.98 0.12 0.36 195.00 201.50 6.50 21.33 0.17 0.49 PDH-114 142.50 148.00 5.50 18.04 0.20 0.21 148.00 159.50 11.50 37.73 0.03 0.69 PDH-115 29.00 35.00 6.00 19.69 2.15 0.03 99.50 116.00 16.50 54.13 0.45 0.09 131.00 157.00 26.00 85.30 0.07 0.44 161.50 176.50 15.00 49.21 0.12 0.40 253.50 357.70 104.20 341.86 0.10 0.45 Incl. 253.50 320.50 67.00 219.82 0.05 0.61 PDH-117 96.00 127.50 31.50 103.35 0.46 0.25
The intersections represent apparent thickness, and are 1.25 to 1.5 times the true thickness. For a location map of the drill holes, please use the following link: http://www.aceromartinexp.com/_resources/topo_drilling_06_07.pdf
One of several mineralized zones known to exist on the Pinaya project, the Gold Oxide Skarn Zone hosts a near-surface gold deposit that has the potential to be developed using open-pit heap leach mining methods. The Company recently commissioned Minefill Services, Inc. to prepare a preliminary economic assessment or "scoping study" in support of the development of an initial starter pit at the area (please refer to the Company's news release dated May, 16, 2007). The study is expected to be complete by Q3 2007 leading to detailed engineering and feasibility studies shortly thereafter.
Holes PDH-111, 113, 114, 115, and 117 were drilled at the Gold Oxide Skarn Zone, both as infill and extension holes.
Holes PDH-111, 113, and 114 were designed to cut the Gold Oxide Skarn Zone at depth. These holes were drilled at an azimuth of 225 and an inclination of -70 degrees. Hole PDH-111 cut 14.1 meters of 0.36 g/t Au and 0.18% Cu. Hole PDH-113 cut 19.5 meters of 0.36% Cu, and 6.5 meters of 0.49% Cu. Hole PDH-114 cut 11.5 meters of 0.69% Cu.
Holes PDH-115 and PDH-117 were designed to extend the Gold Oxide Skarn Zone to the northwest, as well as to test diorite porphyry copper mineralization at depth. These holes were drilled at an azimuth of 225 degrees and an inclination of -60 degrees. PDH-115 had several strong copper and gold intersections, including 6 meters of 2.15 g/t Au, 16.5 meters of 0.45 g/t Au, 26 meters of 0.44% Cu, and 67.0 meters of 0.61% Cu. PDH-117 had up to 31.5 meters of 0.46 g/t Au and 0.25% Cu.
Drilling is ongoing at the Pinaya project. The 2007 drilling program will continue to expand the Gold Oxide Skarn Zone as well as the North Western Porphyry Zone through infill and extension holes. The Company also plans to test newer, emerging exploration targets at Pinaya, such as the gold-silver targets at the Minas Jorge area.
Additional drilling 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.
Changes to the Board of Directors
The Company also wishes to announce the following changes to its Board of Directors.
Acero-Martin is pleased to announce that Dr. David Stone, B.Ap.Sc Ph.D MBA has joined its Board of Directors. Dr. Stone is a mining engineer with a career that spans 25 years of consulting to the metal mining industry. His principal expertise is in mining rock mechanics where he has provided designs and operational advice for both open pit and underground operations worldwide. He has also authored a number of pre-feasibility and feasibility studies based on his broad knowledge of current mining methods, capital and operating costs, and project development requirements. Dr. Stone is the President of MineFill Services, Inc., a mining consultancy based in Seattle, Washington and also sits on a number of other boards of TSX listed companies.
"We are pleased to welcome Dr. Stone to our Board of Directors," said Donald Gee President and CEO. "His extensive operating and management experience will be valuable to the company as we move from exploration towards development at the Pinaya project. He will add great depth to our existing board."
The Company also announces that Mr. Jeffrey Reeder is stepping down from the Board of Directors in order to focus his time and efforts on other business and personal matters. The Board would like to thank Mr. Reeder for his contributions and wishes him well in his future endeavours.
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.
ON BEHALF OF THE BOARD
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Acero-Martin Exploration Inc.
(604) 646-0640 (FAX)