VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 29, 2015) – Guerrero Ventures Inc. (the "Company" or "Guerrero") (TSX VENTURE:GV) (GVXNF) is pleased to announce the results and interpretation highlights of the 2014 Airborne Gradiometer Survey at its Biricu Project in the Guerrero Gold Belt (GGB), Guerrero State, Mexico.
The 2014 airborne gradiometer magnetic survey was flown to complement a previously completed VTEM/Magnetic airborne survey (see Press release dated January 29, 2013). The 2014 survey was completed over a 333 square kilometer area of the property with flight lines in a direction orthogonal to the 2012 survey flight lines that covered an area of 218 square kilometers.
The primary purpose of the airborne survey was to model magnetic data at specific sites, identify sites of potential "hidden" intrusive bodies that could be associated with skarn alteration or mineralization and provide a structural interpretation to guide future exploration activities.
The 2014 survey successfully:
- Provided better quality data highlighting more subtle features.
- Allowed for better modelling, definition and interpretation of possible causative intrusive bodies.
- Identified additional anomalies of high priority interest for immediate follow-up.
- Provided data to gain a more detailed understanding of structures on the property.
- Suggested locations for immediate drill testing on anomalies "under cover" as well as pointed to areas along trend of the southeastern extent of the GGB that require immediate ground follow-up.
David Baker, Guerrero's President and CEO commented that "These positive survey results, coupled with the other successes of our 2014 exploration activities, give the company a range of strong targets for the next phase of our exploration program."
Modelled anomalous magnetic responses from the airborne survey were prioritized with a ranking of Priority 1 (highest priority) to Priority 3 classification (see Map 1, attached to and part of this press release). The survey has resulted in one Priority 1 target located southwest of the Punto Rojo – Hornfels Hill magnetic linear, three Priority 2 areas located along the same trend and six Priority 3 areas in other regions of the extensive property holdings. Areas of Phase I drill testing in 2014 at Hornfels Hill and Punto Rojo were not considered in the classification as these have already been determined as primary exploration target areas and are the focus of additionally planned drill testing.
Geological and structural interpretations (see Map 2, attached to and part of this press release) suggest that intrusive activity is centered along a corridor trending NNE-SSW through the center of the property. Highlights from 2014 exploration activity strongly suggests that this trend is associated with development of skarn alteration and gold mineralization as identified by drilling at Punto Rojo (see Press Release dated January 26, 2015). In addition, magnetic anomalies as encountered in the southern parts of the survey and property warrant attention due to their location along the southeastern extension of the GGB trend.
The 2014 airborne survey resulted in better noise performance and associated magnetic imaging. Even though all major magnetic anomalies appear similar in both surveys, the fact that the 2014 survey was flown orthogonal to the overall trend of geology allowed for a better definition of subtle features that were not evident in the 2012 survey. The better quality allowed for better modelling of profiles associated with major and lesser intensity magnetic anomalies in areas of current exploration focus as well as areas of additional geologic interest on the property.
Two-dimensional, discrete body modelling using magnetic intensity profiles was completed on 12 identified magnetic anomalies. 3-D voxel inversion modelling was completed over five (5) areas of the property to highlight and evaluate constant magnetic intensities in a 3-D environment (see Map 3, attached to and part of this press release).
The helicopter-borne tri-axis gradiometer magnetic survey was completed by Geotech Ltd. of Aurora, Ontario, Canada during December 22, 2014 and January 7, 2015. A total of 2,052 line kilometers of surveying were completed at a line spacing of 200m and 100m. Initial data processing and basic geophysical maps were supplied by Geotech Ltd. Additional processing, evaluation, magnetic modelling (discrete body as well as 3-D voxel inversion) and interpretation was completed by GeophysicsOne Inc. of Oakville, Ontario, Canada.
Guerrero, through its recently acquired subsidiary, Citation Minerals Inc., has an option agreement with Esperanza Resources Corp. (a subsidiary of Alamos Gold Inc.) to acquire a 100% interest in the Biricu Project mineral exploration concession located in Guerrero State, Mexico. The Biricu Project comprises more than 41,000 hectares of highly prospective ground that management believes lies along direct on-strike extent of five skarn deposits in the Guerrero Gold Belt (El Limon-Los Guajes – Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay – Goldcorp Inc.; Ana Paula – Newstrike Capital Inc.).
Quality Assurance/Quality Control
Guerrero Ventures' Vice President of Exploration, Siegfried (Sig) Weidner, B.Sc., P. Geo., a 'qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, has verified the data (including sampling and analytical data) and prepared the information contained in this news release.
Guerrero Ventures Inc. is a publicly listed company that trades under the symbol "GV" on the TSX Venture Exchange, and on the OTCQB in the United Sates under the symbol "GVXNF" as a junior resource company with a focus on acquiring mineral projects that will provide the opportunity to enhance shareholder value. Guerrero is incorporated in British Columbia, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
David Baker, President and CEO
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Biricu property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the maps associated with this release, please visit the following link:http://media3.marketwire.com/docs/1009740_maps.pdf
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