Centurion Minerals Ltd. ("Centurion", "the Company") announces that the Company has initiated a reconnaissance (Phase 1) exploration program on its "Slate Belt" concession located in central Myanmar. The exploration program will include geological mapping, stream sediment geochemistry, and evaluation of historical gold occurrences.
The objective of the Phase 1 exploration program is to prioritize targets within the concession and, as part of the Myanmar permitting process, finalize the location of the Slate Belt concession boundaries.
The "Slate Belt" concession is located south of Mandalay city and covers an area of approximately 692 square kilometers. The Modi Taung gold mine and the Lebyin gold-antimony mine are within a few kilometers south and east, respectively, of the Slate Belt concession boundaries. The Modi Taung and Lebyin mines were discovered and evaluated by Ivanhoe Mines Ltd. during the late 1990s and early 2000s; a phase of exploration which also included the discovery of a number of gold occurrences within the Slate Belt concession. The current program on the Slate Belt will include the exploration of geological and structural environments similar to those hosting the Modi Taung and Lebyin mines.
Myanmar's exploration and mining permits are issued by the central Government and allow for a mineral concession to be explored for up to 5 years followed by a 25 year production period. Subject to receipt of all regulatory approvals, Centurion will hold an 80% interest in the concession with 20% held by its Myanmar partner, Crown Minerals Company. The Slate Belt concession is road accessible and exploration activities can be carried out year round.
Mr. Jamie Lavigne, MSc., P. Geo and Consulting Geologist for the Company is the Qualified Person under National Instrument 43-101 who has read and approved the technical contents of this news release.
Centurion Minerals Ltd. 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