Pediment Exploration Ltd.

Pediment Exploration Ltd.

May 11, 2006 19:33 ET

Pediment Exploration Ltd.: Caborca Copper Project Yields Two Significant Bulk Tonnage Targets

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 11, 2006) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(FWB:P5E) is pleased to report that the Reconnaissance Induced Polarization (RIP) survey at its 100% owned Caborca Copper project has located two large target areas, which are coincident with magnetic lows indicated by regional magnetics surveys. RIP uses broadly spaced sensor sites to locate areas of high chargeability that may result from disseminated sulphide deposits hosting copper and gold. Magnetic lows are significant because the hydrothermal fluids that create ore deposits usually destroy the magnetite (primary iron-oxide) contained in the host rocks, and also can represent more felsic mineralized intrusive phases typically associated with porphyry copper-gold deposits.

The Caborca copper project is located south of the city of Caborca in northwest Sonora State, Mexico, and is situated within the region's power, water, road and rail infrastructure. Local intrusive rock has been dated to the same Eocene period as the Cananea porphyry copper-gold mine 200 km to the east, but is most analogous to the Ajo porphyry copper-gold deposit nearby in Arizona State to the northeast. The project contains the Lista Blanca zone of replacement mineralization that hosts copper and gold values along an exposed strike over 1.7 km (1 mile), and sections of copper mineralized breccia indicating a strong and pervasive hydrothermal system. The project also contains several separate areas of skarn mineralization hosting copper and copper-silver mineralization in the Martha concession. The surface oxidized portion of the Lista Blanca replacement zone will be drill tested for its copper and gold potential.

RIP target "Lista Blanca", adjacent to the Lista Blanca Replacement Zone, is 3 km long by 1.5 km across, and flanks a regional magnetics low along most its length. The connected RIP target "San Juan", located further to the southeast of the Lista Blanca Replacement Zone, is about 2 km across and is roughly centered over a regional aeromagnetic low. Focused drill targeting within these areas is expected to follow completion of a standard IP line array.

These results in conjunction with evidence from outcropping mineralization and the region's history of mine development indicate these anomalies are strong targets for bulk-tonnage copper-gold deposits hidden below cover. The regionally well developed infrastructure would facilitate quickly advancing a discovery.

Pediment's exploration programs are conducted under the direction of geologist Melvin Herdrick, MSc (Registered Professional, Washington State), who is a qualified person within the definition of National Instrument 43-101 and who reviewed the contents of this release.

Pediment Exploration is a well financed, aggressive exploration company with approximately $5 million of working capital, and a main focus on precious metals exploration in western Mexico. It currently has 10 fully owned projects.

On Behalf of the board

Gary Freeman, President and CEO

Contact Information

  • Pediment Exploration Ltd.
    Gary Freeman
    President & CEO
    (604) 682-4418
    (604) 683-6557 (FAX)
    Skyline Investor Relations
    (604) 733-3356 or 1-866-433-3356