Pinaya

Pinaya Gold-Copper Project

Pinaya is our flagship gold-copper project located in Southern Peru, 775 km (482 miles) southeast of the city of Lima, or 110 km (68 miles) northeast of the city of Arequipa.

Figure: Location Map	Figure: Property Access Map

The property is comprised of twenty mineral concessions, totaling 11,100.77 hectares or approximately 111 sq. kilometers.

Figure: Mineral Concession Map

Pinaya is located along the southeastern end of the “Andahuaylas-Yauri Belt;” an emerging and highly prospective gold-copper-moly belt that stretches over 300km throughout Southern Peru. This belt is home to some of the richest metal deposits in Latin America including: Norsemont’s Constancia project, Aruntani SAC’s Rescatada project, and Xstarta’s giant Las Bambas copper-gold project.

Photo: High Above the Pinaya Project	Photo: A Panoramic View of Pinaya

Excellent Mining Infrastructure:

Pinaya has an advantageous location with all of the essentials for mining nearby. The property is road accessible, and lies within 7 km (4.3 miles) of the Tinaya mine road. Tintaya is owned by Xstrata and is currently Latin America’s 3rd largest copper producer.

The project is located about a two hours drive from Arequipa, Peru’s second largest city. Arequipa has modern transportation and energy infrastructure. The City also has an international airport and road and rail access to the Pacific Port of Matarani 90 kilometres to the south and to other major centres.

Development of the Project:

We acquired the Pinaya project in 2004 and have been drilling and exploring it continuously ever since. To date, we have conducted detailed surface exploration, geophysics, and over 15,000 m of diamond core drilling (70 holes).

Figure: Pinaya Drill Hole Plan

As a result of our work we have already defined several distinct zones of mineralization; including:

Gold Oxide Skarn Zone (GOSZ)
Western Porphyry Zone (WPZ)
Montana de Cobre (MC)
Don Pedro
Minas Jorge

To date, the majority of our exploration has been focused on the Western Porphyry and Gold Oxide Skarn Zones. These two main zones currently cover a known mineralized zone of 1,500 by 450 metres and remain open for expansion in several directions. Mineralization at these zones runs from surface to as deep as 386 meters.

Recent geological modeling suggests that these two zones may be related, resulting in the potential for a large open-pittable gold-copper deposit.

Significant Resource Defined:

On September 20th we announced an initial NI 43-101 compliant resource estimate for the Pinaya project (http://www.aceromartinexp.com/news/index.php?&content_id=96).

Indicated Resource:

496,000 ounces of GOLD

270 million pounds of COPPER

PLUS

Inferred Resource

170,000 ounces of GOLD

115 million pounds of COPPER

TOTAL:

666,000 ounces of GOLD

385 million pounds of COPPER

The estimate was based on data from 70 diamond drill holes and only included two (WPZ and GOSZ) of the five gold-copper zones known to exist on the property.

Photo: Looking at Geological Maps at the Field Office	Photo: Field Camp at Pinaya.

What is the Company Doing Now?

Drilling has resumed on the Pinaya project with the goal of quickly adding more resources and tonnage to the initial resource estimate previously announced.

Photo: Drilling at Pinaya	Photo: Close up of Drill Crew at Pinaya

The current drill program will be focused on the Western Porphyry and Gold Oxide Skarn Zones. These zones remain open in multiple directions.

In addition, the promising “blue-sky” targets Montana de Cobre, Pedro Dos Mill and Minas Jorge will be drill tested in the future to further add to the resources.

Read the Overview of the Main Targets at Pinaya >>
Read the NI 43-101 Compliant Report on the Pinaya Project >>
View the Pinaya Drill Plan Map >>
View the Pinaya Map and Figure Gallery >>
View the Pinaya Photo Gallery >>