Acero-Martin Exploration Appoints New President and CEO
VANCOUVER, BRITISH COLUMBIA, Apr 10 (MARKET WIRE) --
Acero-Martin Exploration Inc. (TSX VENTURE: ASD)(FRANKFURT: AMX)
("Acero-Martin" or the "Company") is pleased to announce the appointment
of Dr. Stewart Jackson, P. Geol. as President and Chief Executive Officer.
Dr. Jackson is an accomplished mining professional with 49 years of
experience in the exploration and development mineral deposits and the
management of public companies. He has been responsible for the discovery
and development of several major mineral discoveries, including the
multi-billion dollar Red Dog zinc deposit in northwestern Alaska. Today
Red Dog, operated by Teck Cominco Limited, is the world's largest
producer of zinc and a significant source of lead. The mine accounts for
over 10% of the world's zinc production.
After the discovery of Red Dog, Dr. Jackson was involved in the discovery
and development of the Borealis, South McCoy, and Manhattan gold deposits
in Nevada for Houston Oil and Minerals Corporation where he held the
position of Manager of Minerals Exploration. Later in his career, in
1981, Stewart founded Crown Resource Corp. and acted as its President
until 1987. At Crown, Dr. Jackson helped lead a team that discovered more
than 4.5 million ounces of gold in several deposits in Washington State,
USA. In 2003, Crown was acquired by Kinross Gold Corporation primarily
for its Buckhorn Mountain gold deposit in north central Washington. Since
1987, Stewart has been an independent consulting geologist for several
private and public companies.
Dr. Jackson has authored and co-authored numerous geologic publications
and received the Barlow Medal of the Canadian Institute of Mining and
Metallurgy for a paper he co-authored in 1968. Stewart holds a Bachelor
of Science degree in geology from the University of Western Ontario, a
Master of Science degree in Stratigraphy and Mineral Deposits from the
University of Toronto, and a Ph.D. in Stratigraphy and Economic Geology
from the University of Alberta.
Regarding his appointment, Dr. Jackson stated, "I am pleased to accept
the challenge of advancing Acero-Martin's assets and in particular the
Pinaya gold-copper project in southern Peru. Working closely with the
Board of Directors and the Technical Team, my objectives are to realize
the full potential of the project and pursue a strategic program to
further define and discover additional gold and copper resources."
Don Currie, outgoing President and CEO stated, "I am very excited and
pleased that we have been able to attract Dr. Jackson to step into the
leadership role. He is a well respected and experienced geologist, a
proven manager and leader, and has a track record of making major
ore-body discoveries."
Mr. Currie will remain with the Company as an independent member of the
Board of Directors. The Board would like to thank Mr. Currie for his work
as President and CEO and his efforts in transitioning the Company and
attracting Dr. Stewart Jackson.
About Acero-Martin Exploration Inc.
Acero-Martin's 100%-owned Pinaya project hosts one of Peru's newest and
richest copper-gold porphyry/skarn deposits. The project is located 110
km northeast of Arequipa and approximately 60 kilometers south of
Xstrata's Tintaya copper-gold mine, and is favoured with excellent nearby
mining infrastructure.
In September of 2006, based on the first 70 holes drilled, an initial
independently calculated NI 43-101 resource estimated that Pinaya hosts
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.
As of March 2008, the Company has completed an additional 79 holes
bringing the project totals to 40,900 meters and 149 holes. Drilling
since the release of the initial resource continues to work to expand the
size of the deposit and test new zones of mineralization. To complement
continued drilling, the company is currently completing a preliminary
economic assessment ("scoping study") to determine the potential for, and
economic parameters of, developing a starter 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.
The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in National
Instrument 43- 101 and reviewed on behalf of the Company by Cary
Pothorin, P.Geo, Acero-Martin's Vice President of Exploration, a
qualified person.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Scholz, Chairman
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.
TSX Venture
Exchange does not accept responsibility for the adequacy or accuracy of
this release.
Contacts:
Acero-Martin Exploration Inc.
Investor Relations
1-877-646-0067
(604) 646-0640 (FAX)
Email: info@acero-martin.com
Website: www.acero-martin.com
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