VANCOUVER, BRITISH COLUMBIA, Jun 19, 2013 (Marketwired via COMTEX) — Guerrero Exploration Inc. (“Guerrero” or the “Corporation”) (tsx venture:GEX)(frankfurt:2GU) provides the following update on development of its Cerro Azul property located in Guerrero, Mexico:
Guerrero Exploration and its JV partner first initiated a field exploration program at the Cerro Azul property in February 2011. The program consisted of prospecting, geochemical sampling and induced polarization/resistivity geophysics. Seven anomalies were identified on the Property: Cerro Azul, Las Trojas, El Pedrillo, La Palma, Las Minillas, Loma Coyote and Llano Grande (GEX News Release 26 May 2011). Of these, three have been selected for drill testing: Las Trojas, Las Minillas and Loma Coyote. Collectively, these three anomalies define a northwest trending zone 5000 meters long and 600 meters wide hosted in Cretaceous sedimentary rocks on the southern portion of the concession. Mineralization consists mainly of chalcocite in veinlets and disseminations with minor disseminated pyrite. On surface, this is oxidized to malachite, azurite, chrysocolla, jarosite, goethite and hematite.
Las Trojas is defined by co-incident chargeability and resistivity highs in an area 800 m long by 400 meters wide. Half of the 40 soil samples in this area contain more than 56 ppm Cu, and the highest copper-in-soil result is 11,800 ppm Cu. Rock samples from two historic mine workings in the area contain up to 37,000 ppm Cu and 43.4 ppm Ag. Four holes totaling 900 meters of drilling are planned to test Las Trojas.
La Minillas is 700 meters northwest of Las Trojas and is also defined by co-incident chargeability and resistivity highs in an area of anomalous copper geochemistry. The anomaly area is 1 km long by 600 meters wide and values of up to 37,900 ppm Cu and 21.6 ppm Ag were returned from a single mine working in this zone. One 250 m long hole is planned at Las Minillas.
Loma Coyote occurs 1400 meters northwest of Las Minillas, and overlaps an area 1200 meters long and 650 meters wide underlain by co-incident chargeability and resistivity highs. There are 4 mine workings in this area, and all 11 rock samples from the mines contain more than 10 000 ppm Cu. The best rock sample contains 68,300 ppm Cu and 114.3 ppm Ag. The best soil sample contains 18,700 ppm Cu and 10.9 ppm Ag. Five hundred meters in two holes are planned at Loma Coyote.
The Company plans to start the exploration in Q3 of 2013 pending permit approval by the Mexican Government.
About Guerrero Exploration Inc.
Guerrero 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 Mexican Gold Belt. The Corporation’s common shares trade on the TSX Venture Exchange under the symbol “GEX” and the Frankfurt Stock Exchange under the symbol (2GU).
For more information, please visit www.grxpl.com or contact investor relations.
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 receipt of government claims approval. 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, government approvals, 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.
Guerrero Exploration Inc.
Toll Free Tel. 1.877.685.0088