Guerrero Exploration Inc.
TSX VENTURE : GEX

Guerrero Exploration Inc.

February 07, 2011 05:00 ET

Guerrero Announces Commencement of Work Program at Cerro Azul, Guerrero, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2011) - Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE: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".

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).

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.

Contact Information

  • Guerrero Exploration Inc.
    David Stadnyk
    President and Chief Executive Officer
    604.685.0088 Ext. 229
    or
    Guerrero Exploration Inc.
    Investor Relations
    604.685.0088 Ext. 228
    info@grxpl.com