VANCOUVER, BRITISH COLUMBIA, Jun 26, 2013 (Marketwired via COMTEX) — 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.
Contacts:
Guerrero Exploration Inc.
Investor Relations
1-877-685-0088
[email protected]
www.grxpl.com
SOURCE: Guerrero Exploration Inc.
