Guerrero Exploration Reports Exploration Plan for Guerrro Concessions in Mexico During Fall 2013
Date : 06/26/2013 @ 8:00AM
Source : Marketwired Canada
Stock : Guerrero Exploration (GEX)
Quote : 0.115 0.0 (0.00%) @ 9:16AM
Guerrero Exploration Reports Exploration Plan for Guerrro Concessions in Mexico During Fall 2013
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Guerrero Exploration Inc. ("Guerrero" or the "Company") (TSX
VENTURE:GEX)(FRANKFURT:2GU) has received the title certificates for its 100%
owned Cibola and Coatepec concessions, and expects the Olinala concession to be
granted in the coming months.
Collectively, the three concessions overlap a combined surface area of 137,546
Hectares in the Mixteca Terrane of eastern Guerrero State, Mexico. The Mixteca
Terrane hosts the Guerrero Gold Belt (GGB), a cluster of new gold discoveries in
the vicinity of GoldCorp's Los Filos mine. Advanced projects in the GGB include
Ana Paula by Newstrike and Media Luna by Torex. Exploration projects in the GBB
include Biricu, optioned from Esperanza Resources by Citation Resources and
Xochipala, owned by Oroco Resource Corp. Other participants in the GGB gaining
notoriety include (i) Cayden Resources Inc., who sold a fraction of their
Morelos Sur concession to Goldcorp for USD $15.7 million (News Release dated Feb
1 2013), and (ii) Osisko, the owner of the 560,241 Hectare Don Julio concession
application area.
Guerrero Exploration's concessions were defined based on the presence of
anomalous gold, silver, copper, zinc or lead values in stream sediment samples
collected and analyzed by the Servicio Geologico Mexicano, mainly from 4th and
5th order drainage basins. Management and the geologic team have determined that
the resolution of the historic Government work available on this area is too low
to support accurate exploration decisions. Therefore, Guerrero Exploration has
planned 1,384 sample collection sites on 1st and 2nd order drainage basins to
better define the metal potential of its 137,546 Hectares of concessions.
To assist in assessing the geological potential, the sampling procedure calls
for collection of a rock sample near each stream sediment sample site, as well
as prospecting/rock sampling traverses on the ridges. In excess of 2,000 rock
samples are expected to be collected.
The Company has the use of a portable field laboratory that includes the
following: (i) a Meiji binocular microscope with camera for petrography; (ii) a
Niton GOLDD XRF gun for whole-rock and trace element analysis; (iii) a Kappa
magnetic susceptibility meter; (iv) a Terraspec SWIR to define alteration
mineralogy.
The objectives of the 2013 exploration plan are threefold: (i) identify and
release areas with no obvious mineral potential back to the Government, (ii)
identify and map the mineral potential of productive parts of the concessions,
and (iii) make plans to advance work in those areas, either internally or via
third party agreements.
The Company expects that exploration of these concessions would start in the
fall of 2013, after completing a planned drilling program on its 60% owned Cerro
Azul concession.
About Guerrero Exploration Inc.
Guerrero is a Canadian-based junior exploration company with a focus on the
Southern Mexican Gold Belt. The Company'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.
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, geological results and proposed exploration plans contain
forward-looking statements. In particular, this press release contains
statements concerning the anticipated receipt of government approval regarding
mineral concession transactions. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Guerrero Exploration Inc.
Investor Relations
1-877-685-0088
info@grxpl.com
www.grxpl.com
