Au Martinique Silver Inc. Hits the Ground Running in El Salvador.ORLEANS, Ontario -- Au Martinique Silver Inc.(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AUU AUU Adelaide University Union ) is pleased to announce the Phase 1 results from its initial exploration activities in the Potonico District located in North Central El Salvador El Salvador (ĕl sälväthōr`), officially Republic of El Salvador, republic (2005 est. pop. 6,705,000), 8,260 sq mi (21,393 sq km), Central America. (Figure 1).The Potonico District is large, approaching 200 km2 of hydrothermally altered intermediate volcanic rocks rocks which have been produced from the discharges of volcanic matter, as the various kinds of basalt, trachyte, scoria, obsidian, etc., whether compact, scoriaceous, or vitreous. See also: Volcanic , located along the Central American Central America A region of southern North America extending from the southern border of Mexico to the northern border of Colombia. It separates the Caribbean Sea from the Pacific Ocean and is linked to South America by the Isthmus of Panama. Gold Belt (CAGB).Historical gold-silver production has occurred near the Potonico District including the El Dorado El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. District (Pacific Rim; about 20 km to the southeast) and the Paisnal District (Bema; about 30 km to the west).Both mineral districts contain low sulfidation gold-silver epithermal deposits and are currently being explored. Figure 1 is available at the following address: http://www.ccnmatthews.com/docs/auu1.jpg Management Summary: - Au Martinique Silver Inc. completes Phase 1 of its major joint exploration program with Intrepid Minerals on the Potonico gold-silver project (Department of Chalatenango, North Central El Salvador along the Central American Gold Belt). - Exploration focused on San Antonio, Potonico, Petancol and Mercedes fault zones, each comprised of extensively altered volcanic rocks and gold-silver bearing veins and breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. . - Historic exploration trenches and outcrops contain up to 988 g/t Ag and 97.5 g/t Au in epithermal gold-type occurrences. - Au Martinique Silver's 2004 -05 program discoveredsamples from thePotonico property containing up to 915 g/t Ag and 136 g/t Au. - Stream sediment and airborne magnetic surveys reveal several new highly altered gold-silver bearing zones. - The Potonico gold-silver corridor remains the priority target. - Mercedes and San Antonio trends contain abundant low-sulfidation epithermal-type alteration. - Further trenching and sampling of all zones is underway. History of the Potonico District In the late 1960s and early 1970s, geologic mapping conducted by the German Geologic Mission in El Salvador identified regionally extensive hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. alteration covering approximately 150 km2 in Department of Chalatenango.In 1994, Mirage Resources Corporation conducted a regional precious metal reconnaissance program of these altered volcanic rocks.They identified several east-west (Potonico, Petancol and Mercedes) to northeast-trending (San Antonio) structural zones or trends hosting extensive silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. , quartz-sericite-pyrite (QSP QSP Relay (amateur radio Q code) QSP Quality Software Products QSP Quality Samples Program QSP Quiet Supersonic Platform QSP Quick Start Package QSP Quality System Procedure QSP Quality Selection Process QSP Quality Seafood Programme ) alteration and local zones of gold-silver-bearing quartz veinlets and breccia. From 1994 through 2000, Mirage, spent US$ 320,000 on exploration activities including approximately 40 km of line cutting, stream sediment, soil and rock geochemical sampling programs and over 4 kilometers of trenching and 17 shallow core holes.Notable results of the trenching included 14.5 meters of 5.90 g/t Au and 2.22 g/t Ag, and 4.5 meters of 7.60 g/t Au and 71.06 g/t Ag from quartz stockwork and silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. zones, and outcrops containing up to 988 g/t Ag and 97.5 g/t Au.These and other gold- and silver-bearing samples were encountered in the Potonico gold-silver corridor during Mirage's programs, but the downturn in metal prices forced the abandonment of the project and its return to the government. In June, 2003, Intrepid Minerals Corporation acquired the Cerro Petancol exploration license which generally corresponds to the previous Potonico license. Au Martinique Silver Joins the Intrepid Team in the Exploration of the Potonico District Pursuant to an agreement dated February 28, 2004 with Intrepid Minerals Corporation and Intrepid's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Triada S.A. de C.V., Au Martinique Silver was granted an option to earn a 50% interest in the Cerro Petancol Exploration License located in El Salvador.The terms of this agreement are provided in Au Martinique Silver's News Release #2005-1. The Geology of the Cerro Petancol license area and the Potonico District The Cerro Petancol property covers 49.5 km2 and is underlain un·der·lain v. Past participle of underlie. by a mid-Tertiary volcano-sedimentary complex.This includes a lower sequence of sub-aerial andesitic volcanic flows and breccia and an upper sequence comprised of dacitic Adj. 1. dacitic - relating to or consisting of dacite; "dacitic magma is highly viscous" volcanic rocks, compositionally equivalent intrusive rocks and fine-grained clastic clastic /clas·tic/ (klas´tik) 1. undergoing or causing division. 2. separable into parts. clas·tic adj. 1. and chemical sedimentary rocks.The rocks of the license area have been strongly dissected by the major northeast-trending San Antonio fault, along with several auxiliary east-west structures including the Potonico, Petancol and Mercedes zones.The San Antonio fault and associated alteration have been traced to the northeast and out of the exploration area. The Potonico District, including the Cerro Petancol area, contains several remnant volcanic centers that are accompanied by aerially extensive hydrothermal alteration and precious metal mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. .Gold-silver enrichment is associated with polyphase Pol´y`phase a. 1. (Elec.) Having or producing two or more phases; multiphase; as, a polyphase machine, a machine producing two or more pressure waves of electro-motive force, differing in phase; a silicification enveloped en·vel·op tr.v. en·vel·oped, en·vel·op·ing, en·vel·ops 1. To enclose or encase completely with or as if with a covering: "Accompanying the darkness, a stillness envelops the city" in domains characterized by intense QSP alteration.Previously described exploration activities have identified a distinctive geochemical (mercury-arsenic-molybdenum) signature in both the silicified and veined rocks. The 2004-2005 Exploration Program at Cerro Petancol Au Martinique Silver's exploration program at Cerro Petancol commenced in June, 2004 and consisted of the compilation, review and site verification of the Mirage work, including their reconnaissance geologic mapping and geochemical sampling.Sites previously reported to contain high grade precious metal values were re-sampled and contained up to 915 g/t Ag and 136 g/t Au.Dr. A.R. Miller P Geo, conducted these studies and concluded: "The recognition of the following three fundamentally important attributes on the Cerro Petancol property: 1.) a felsic fel·sic adj. Containing a group of light-colored silicate minerals that occur in igneous rocks. [fel(dspar) + s(ilica) + -ic. volcanic center; 2.) structurally controlled precious metal-bearing silicified zones and 3.) phyllic alteration are typical of and conducive for the formation of economically viable epithermal high-grade gold-silver deposits" (A.R. Miller, May, 2005, Geological Appraisal & Exploration Summary: Cerro Petancol Exploration License; In-House Report).A stream sediment survey, completed in October of 2004 within the Cerro Petancol license consisted of 274 samples and identified three anomalous areas in the northern half of the license with geochemical signatures similar to the Potonico gold-silver anomaly.Dr. Miller concluded that the Potonico gold-silver corridor (Figure 2) remained the highest priority target area owing to the discovery of mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. and silicified rocks.The elemental signature of mineralization within the corridor is gold, silver, mercury, antimony antimony (ăn`tĭmō'nē) [Lat. antimoneum], semimetallic chemical element; symbol Sb [Lat. stibium,=a mark]; at. no. 51; at. wt. 121.75; m.p. 630.74°C;; b.p. 1,750°C;; sp. gr. (metallic form) 6. , arsenic and molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. . Figure 2 is available at the following address: http://www.ccnmatthews.com/docs/auu2.jpg The three newly identified areas in the northern portion of the license are located along the Mercedes and San Antonio trends, shown in Figure 2, and correspond with strong silicification and QSP alteration.The elemental signature, as stated above, comprised of known precious metal mineralization and of stream sediment anomalies is inferred to record processes consistent with the upper zones of a low sulfidation epithermal system. In addition to the stream sediment program, Au Martinique Silver conducted an airborne magnetic survey over the Cerro Petancol exploration license (Figure 2). The integration of the stream sediment geochemical data with the map of total magnetic intensity revealed "that each of these target areas is directly related to structural lineaments and most importantly these target areas lie within domains that are defined by markedly reduced magnetic susceptibility" (A.R. Miller, May 9, 2005, Au Martinique Silver In-house Report) which may indicate extensive hydrothermal alteration associated with gold-silver mineralization.The superposition su·per·po·si·tion n. 1. The act of superposing or the state of being superposed: "Yet another technique in the forensic specialist's repertoire is photo superposition" of geochemical and geophysical anomalies is compelling support for ongoing exploration to be focused in the central segment of the Potonico gold-silver corridor. This will include mapping of alteration and structural elements, and abundant rock sampling, to evaluate the potential of the other three target areas. In its 2004 field program, Au Martinique Silver discovered multi-gram gold-bearing quartz veins (Table 1) approximately 600 meters northeast of the northeast corner of the Cerro Petancol license (Figure 2; Los Filos Zone). These veins are hosted in phyllic-altered andesite andesite Any member of a large family of rocks that occur in most of the world's volcanic areas, mainly as surface deposits and to a lesser extent as dikes and small plugs. and are located along the east-northeast trending San Antonio domain, which is characterized by reduced magnetic susceptibility, inferring aerially extensive hydrothermal alteration.During the May, 2004 to April, 2005 exploration program conducted by Au Martinique Silver, approximately Cdn$220,000 was spent at Cerro Petancol. Work on the next phase of the project is well underway, and will be reported shortly. Table 1.Summary of the Los Filos reconnaissance sampling program (n=30; 2004) showing gold values greater than 0.10 g/t Au (n=17). Analyses by CAS de Honduras, Tegucigalpa, Honduras.
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Sample Exploration Gold Gold
Number Area (grams/tonne) (grams/tonne)
FA30+AA FA30+Grav.
recheck
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1241 Los Filos 0.17
1242 Los Filos 0.21
1243 Los Filos 0.99 1.13
1244 Los Filos 1.52 1.50
1245 Los Filos 0.12
1247 Los Filos 6.53 6.63
1248 Los Filos 0.29
1249 Los Filos 0.27
1250 Los Filos 0.14
1471 Los Filos 0.24
1475 Los Filos 0.17
1479 Los Filos 0.42
1482 Los Filos 0.17
1495 Los Filos 1.02
1496 Los Filos 2.30 2.23
1497 Los Filos 5.00 5.25
1499 Los Filos 3.43 3.43
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Au Martinique Silver is a TSX-Venture Exchange listed company with 20,680,050 common shares outstanding. The Company is engaged in the acquisition and exploration of gold and silver prospects in Latin America. The statements in this Press Release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved the information contained in this press release. Au Martinique Silver Inc. (TSX VENTURE:AUU) |
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