Guerrero Exploration Inc. ("Guerrero"
or the "Corporation") (TSX-V: "GEX") is
pleased to announce the 2011 work program has commenced at the Cerro Azul
Gold–Copper Project, located in Guerrero, Mexico. The program is
intended to run over the next three months and will consist of prospect scale
geological mapping, rock chip and soil sampling, hand trenching, ground
geophysics and data compilation on previously identified copper and gold
anomalies. The budget for the initial program will be approximately $200,000
and Riverside Resources Inc. will act as operator per the earn-in option
agreement. Upon this phase of field work successfully identifying drill
targets, Guerrero plans on commencing drilling operations in the next three
to four months.
Property Details:
Initial mapping and sampling on the property has
defined seven target areas with potential for epithermal gold and porphyry
copper-type mineralisation along a structural corridor at least 20 km long
and up to 10 km wide, from Las Fraguas in the
northern limit of the property to Cerro Azul in the southern part. Targets
identified on the property have high grade copper values in two meter channel
samples taken from outcrops, these include:
· Las Parotas with Cu of
1.38%, 1.9%, and 3.0%.
· Loma Coyote with Cu values ranging up 2.0 % and
4.85% Cu.
· Piedrillo-San
Marcos, with samples up to 1.85% Cu.
· San Jeronimo with samples
of 1.03% and 1.70% Cu.
· El Llano (Fortuna) with several samples returning
>0.5% Cu with 3 samples returning 4.25%, 4.55%, and 12.8% Cu.
David Stadnyk, President
& CEO of Guerrero Exploration Inc., stated, “The Cerro Azul
property is an example of Guerrero’s philosophy to generate potential
for high-grade mineralization. With the assistance of a strong experienced
strategic partner to assist in field prospecting and exploration, the Cerro
Azul property has the potential to contain not just a single target but a
mining district with its significant land package”.
Work Program
Details:
The program will focus on the Cerro Azul – Piedrillo and San Marcos – Lorna Coyote – Las
Parotas target areas in the south and the Tinoco target area in the north of the property. Field
activities will include:
· Geological mapping at 1:10,000 and 1:5,000 scale
· Alteration mapping using a TerraSpec
portable Vis/NIR mineral spectrometer
· Systematic soils and rock chip sampling of the
prospect areas
· Ground magnetic surveys over defined areas from the
mapping and sampling
· IP surveys over defined areas from the mapping and
sampling
· Trenching of high priority soil geochemical
anomalies over areas of thin cover
· Community consultation and environmental permitting
· Data compilation and interrogation
· Drill target selection and drill program planning
The scientific and technical data contained in this
news release was prepared under the supervision of Troy Gill, BSc (Geol.)., a
member of the Australian Institute of Geoscientists, who acts as a
"qualified person" under National Instrument 43-101 Standards of
Disclosure for Mineral Projects. Samples for the Cerro Azul project were
prepared by Inspectorate Labs of Durango City, Durango State, Mexico and then
analyzed by Inspectorate Labs of Reno, Nevada, USA
using aqua regia digestion on a 15-gram sample
followed by ICP-MS analysis. All labs are ISO certified.
About Guerrero
Exploration Inc.
Guerrero Exploration Inc. is committed to a long
term business strategy designed to achieve optimal levels of profitability
and shareholder value. Guerrero Exploration Inc. is a Canadian based
exploration mining company with a focus on the high yielding Mexican copper,
gold and silver mining area known as the Guerrero Gold Belt. The
Corporation’s common shares trade on the TSX Venture Exchange under the
symbol “GEX”.
For further
information please contact:
Guerrero Exploration Inc.
David Stadnyk
President and Chief Executive Officer
P: 604.685.0088 Ext. 229
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Guerrero Exploration Inc.
Investor Relations
P: 604.685.0088 Ext. 228
E-mail: info@grxpl.com This e-mail address is being protected from spambots. You need
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Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Advisory
Certain statements and information contained in this
press release, including but not limited to management’s assessment of
Guerrero’s future plans and operations, production, reserves, revenue,
commodity prices, operating and administrative expenditures, funds from
operations, capital expenditure programs and debt levels contain
forward-looking statements. In particular, this press release contains
statements concerning the anticipated review of seismic data and
identification of drilling prospects and establishing a portfolio base and
the anticipated closing date of the Offering and the anticipated amount and
use of gross proceeds of the Offering. All statements other than statements
of historical fact may be forward looking statements. These statements, by
their nature, are subject to numerous risks and uncertainties, some of which
are beyond Guerrero’s control including the effect of general economic
conditions, industry conditions, changes in regulatory and taxation regimes,
volatility of commodity prices, escalation of operating and capital costs,
currency fluctuations, the availability of services, imprecision of reserve
estimates, geological, technical, drilling and processing problems,
environmental risks, weather, the lack of availability of qualified personnel
or management, stock market volatility, the ability to access sufficient
capital from internal and external sources and competition from other
industry participants for, among other things, capital, services,
acquisitions of reserves, undeveloped lands and skilled personnel that may
cause actual results or events to differ materially from those anticipated in
the forward looking statements. Such forward-looking statements,
although considered reasonable by management at the time of preparation, may
prove to be incorrect and actual results may differ materially from those
anticipated in the statements made and should not unduly be relied on. These
statements speak only as of the date of this press release. Guerrero does not
intend and does not assume any obligation to update these forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by applicable law. Guerrero’s business is
subject to various risks that are discussed in its filings on the System for
Electronic Document Analysis and Retrieval (SEDAR).
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