Centurion Advances Gold Mineral Concession Applications in Myanmar
March 08 2013 - 10:36AM
Marketwired Canada
Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion", "the Company") is
pleased to report that its local Myanmar partner, Crown Mineral Co., has
confirmed that two mining exploration concession applications and associated
land packages have been accepted for processing by the Myanmar Mining Ministry.
The mineral concessions were applied for on the basis of: Centurion
Minerals-80%; Crown Mineral Co Ltd.-20%.
The "Slate Belt" gold concession is located south of Mandalay and covers an area
of approximately 103,000 hectares. It is bordered by the Modi Taung gold mine in
the south and the Lebyin gold and polymetallic mines in the east. In the late
1990s to early 2000s, the area was part of Ivanhoe Mines Ltd. "Block 10".
Historical exploration work by Ivanhoe yielded a number of prospects and
anomalies which may assist the Company's exploration efforts in early
identification of priority exploration targets.
The "Bandi" gold concession is located north of Mandalay and is approximately
100,000 hectares in size. The area is flanked by two operating gold mines, one
of which is the Phayaung Taung mine located to the south. A recent geological
map shows that the Bandi concession area consists of intrusion and associated
marls, and other rock types, all of which are cut by north-trending structures.
Adjacent gold skarn deposits are reportedly controlled by structures striking
northward as well.
The two gold concessions fall within the major gold and associated mineral belts
that span N-S central Myanmar. Hundreds of gold occurrences at varying stages of
exploration have been noted along the belts, but very few have been explored
systematically using modern methodology. Most of the occurrences are of
epithermal and intrusion-related style of mineralization.
"Our technical team is immediately preparing for an evaluation site visit to
these two areas in order to identify priority exploration targets and to advance
and finalize mineral license approvals," stated Alfred Lenarciak, Centurion
Chairman.
Qualified Person
Mr. Thomas Mulja, Ph.D., P.Geo is the Qualified Person under National Instrument
43-101 who has supervised and reviewed the technical contents of this news
release.
ABOUT CENTURION
Centurion Minerals Limited is a Canadian-based company focused on the
exploration and development of gold and other precious metal projects in
Southeast Asia.
On Behalf of the Board,
David G. Tafel, President and CEO
This news release may contain forward looking statements concerning future
operations of Centurion Minerals Ltd. (the "Company"). All forward looking
statements concerning the Company's future plans and operations, including
management's assessment of the Company's project expectations or beliefs may be
subject to certain assumptions, risks and uncertainties beyond the Company's
control. Investors are cautioned that any such statements are not guarantees of
future performance and that actual performance and exploration and financial
results may differ materially from any estimates or projections.
FOR FURTHER INFORMATION PLEASE CONTACT:
Centurion Minerals Ltd.
David Tafel
President and CEO
604-484-2161
604-683-8544 (FAX)
info@centurionminerals.com
www.centurionminerals.com
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