Acero-Martin Exploration Appoints New President and CEO
10 April 2008 - 3:30PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (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.
The 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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