Sector NewswireTM

Sector: Mining - Metals and Minerals  :

Sub sector: Precious Metals and Base Metals  :

 

News Release - November 27, 2009 2:34 PM ET - revised 

 

 

Acero-Martin's 666,000 oz Gold and 385 Million Pounds Copper Resource at Pinaya, Peru the Subject of Market Bulletin 

 

Acero-Martin Exploration Inc. (TSX-V: AMG) is featured as an ideal vehicle for investors seeking exposure to precious metals in a vertical market for the underlying commodity as AMG.V possesses a resource of 666,000 ounces gold (now believed substantially larger if new resource calculation were performed today) ● Near term open pit mine potential ● Multi-billion bulk tonnage potential ● Current in-situ gold equivalent resource valuation under $4/oz ● Only ~28M shares outstanding and trading under CDN$0.30.

 

NEW YORK, NY, November 27, 2009 /Sector Newswire/ - Maxim Gold Market Bulletin provides advisory on Acero-Martin Exploration Inc. (TSX-V: AMG) (ACERF.PK). Acero-Martin's 100% owned Pinaya deposit contains a NI 43-101 compliant 666,000 ounces of gold and 385 million pounds of copper resource and also possesses near term open pit mine potential at the past producing Pinaya mine where ~200,000 ounces gold of the 666,000 ounce gold resource is readily available for the taking from the pit area.

 

The full Market Bulletin may be seen at http://sectornewswire.com/MaxAMG1109.pdf online.

   

Figure 1.  Acero-Martin Pinaya Deposit Geomodel

666,000 ounces of gold, 385 million pounds of copper resource defined in 2006. Since then 93 additional holes have been drilled totaling 163 holes (representing well over 40,000m of drilling) and thus the resource estimate if done now would likely be significantly larger. Also since then gold has doubled in price significantly enhancing the value of the deposit.

Acero-Martin Exploration Inc. is a Canadian-based mineral exploration mining company listed on the TSX Venture Exchange (ticker symbol AMG) (US Listing: ACERF.PK). Acero-Martin possesses a NI 43-101 compliant resource estimate report completed in 2006 which yielded 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 at their 100% owned Pinaya Gold-Copper project in Peru. This equates to approximately 498,000 ounces of gold and 269,000,000 pounds of copper in the Indicated category, and 168,000 ounces of gold and 115,000,000 pounds of copper in the Inferred category.
 
The property possesses multi-billion bulk tonnage potential and not surprisingly Acero-Martin has fielded significant interest from entities probing the possibility of purchase and/or taking on the risk of development in the last couple months. AMG.V has yet to make a decision, however we note that ~200,000 ounces gold of the 666,000 ounce gold resource is readily available for the taking from the pit area.

 

The full Market Bulletin may be seen at http://sectornewswire.com/MaxAMG1109.pdf online.

 

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.

 

SOURCE: Sector Newswire per: Maxim Gold Market Bulletin

editorial@SectorNewswire.com

 

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