VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2012) - Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE:GEX) is pleased to announce that the permitting application is underway with drilling scheduled to commence in early 2013 at its high-grade copper project at Cerro Azul in Guerrero State, Mexico, subject to permit approval and rig availability.
The 260 km² copper-gold Cerro Azul Project is located in the Guerrero state in the highly productive Southern Mexican Gold Belt.
As described in the Press Release dated May 26, 2011, a 5.3 km by 0.8 km zone of rock chip and soil copper anomalism was delineated and priority drill target areas have since been confirmed by an Induced Polarization (IP) geophysical survey. Copper values as high as 10% Cu from rock chips and 1.8% Cu in soil samples are present.
The high-grade copper results have been found primarily within the southern portion of the Cerro Azul Project, include the Loma Coyote, La Minillas and Las Trojas target areas. A peripheral and parallel trending coincident lead - zinc anomalous zone was observed in the Las Trojas - La Minillas area.
Geological mapping of the southern portion of Cerro Azul has confirmed the presence of extensive argillic alteration of andesitic tuffs and subvolcanic intrusive and into sedimentary country rocks along epithermal vein and breccias networks following local faults. Rock units previously interpreted as granodiorite intrusive have been identified as areas of argillic alteration and silicification. The extent of the alteration and coincidence of geochemical anomalism observed in the soil sampling supports the concept of Cerro Azul property representing a large zonated volcanic epithermal system.
David Stadnyk, President & CEO of Guerrero Exploration Inc., stated, "We are excited that we are near commencement of the drill program of our flagship property. With all the preliminary work completed, we look forward to exploring the possible porphyry system which is exciting and encouraging for Guerrero."
Assaying and Qualified Person:
Samples were taken to Hermosillo, Mexico where ALS Laboratory Group's mineral division ALS Chemex crushed and pulverized each sample. The rejects remained with ALS Chemex while the pulps were transported to ALS Chemex's ISO 9001-2008 certified laboratory in North Vancouver, BC, Canada for analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Duplicate, standard and blank samples were randomly inserted into the sample stream prior to being sent to the laboratory.
The scientific and technical data contained in this press 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.
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 Southern Mexico Gold Belt. The Corporation's common shares trade on the TSX Venture Exchange under the symbol "GEX".
Certain statements and information contained in this press release, including but not limited to management's assessment of Guerrero's future plans and operations, geological results and proposed exploration plans contain forward-looking statements. In particular, this press release contains statements concerning the anticipated completion and review of exploration programs and assays. 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 risks, 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.