VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 18, 2014) – Guerrero Ventures Inc. (the "Company" or "Guerrero") (TSX VENTURE:GV) is pleased to provide an update on ongoing exploration and operations related to the impending maiden drill program at its Biricu Project in the Guerrero Gold Belt, Guerrero State, Mexico.
Preparations for drilling are nearing completion. Geologists are on site finalizing pad locations and drill hole orientations at high priority targets that will be drill tested early in the program. A 5,000 metre diamond drill program will test several previously identified high priority target zones. Simultaneously, the company will undertake additional geologic mapping and sampling in areas highlighted by earlier geological, geochemical and airborne geophysical surveys that require further refinement prior to drilling. This comprehensive program is designed to identify additional targets analogous to areas surrounding known gold mineralized zones and producing mines elsewhere in the Guerrero Gold Belt.
Guerrero has secured a drill contract that calls for two diamond drill rigs to complete a minimum of 5,000 linear meters in prioritized target zones. A geological and logistics company has also been secured for operational support. All access and environmental permits for the areas selected for priority drill testing are in place. Discussion has also been initiated for additional airborne geophysical surveys to more fully define targets identified in a previous airborne survey as well as to potentially extend the previous survey.
Guerrero's President David Baker commented that, "Everyone in the Guerrero management team is very excited to be getting started on this important drill campaign at Biricu, one of the only large properties in the highly prospective Guerrero Gold Belt that has never been drill tested. Siegfried Weidner, VP Exploration and his team rapidly got boots on the ground and organized all the logistical elements required for a successful program. We're optimistic about the priority targets chosen and expect the concurrent program in other areas of this large property will generate more targets still. With approximately $3 million on hand Guerrero is fully funded for the upcoming program and all other corporate activities."
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.). Biricu is one of the only remaining large properties in the Guerrero trend that has never been drilled.
Guerrero Ventures Inc. is a publicly listed company that trades under the symbol "GV" on the TSX Venture Exchange 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.
Quality Assurance/Quality Control
The technical information in this news release has been reviewed and approved by Siegfried Weidner, P.Geo., a registered Professional Geoscientist in the Province of British Columbia and a qualified person as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
David Baker, President and CEO
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.