Centurion Reports Epithermal Gold Exploration and Drilling Activites on Its Badak Property, Northern Sumatra, Indonesia
October 12 2011 - 5:15PM
Marketwired
Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion", "the
Company") wishes to update its shareholders on the progress of its
exploration and drilling activities on the Nareh epithermal gold
prospect within the Badak Property in North Sumatra.
This epithermal gold prospect, together with porphyry copper and
gold-copper skarn prospects (originally announced in a news release
dated August 11, 2011), occurs in a 1.2 x 1 kilometre (km)
volcanic-intrusive complex. The current exploration program
consists of ground magnetic and soil geochemical surveys over the
entire complex area (both the epithermal and porphyry copper
prospects), and a minimum of 4,000 metres (m) of reconnaissance
diamond drilling.
Highlights of the Nareh Epithermal Gold Target Results to
Date
Several high gold anomalies in rock and soil samples have been
delineated within the surveyed area, enabling Centurion to generate
drill hole locations aimed at discovering economically viable gold
mineralization. The most significant anomalies are as follows:
-- Assays from a total of 92 rock chip and 1-m channel samples within a 400
x 600 m geochemical anomalous area indicate:
-- Continuous channel samples returned 11m of 2.83 g/t gold, with the
highest gold grade of 11 g/t over one metre.
-- 21 of the rock samples contain greater than 0.1 gram/ton (g/t) gold,
including 6 rock chip samples collected at 1m spacing ranging from
1.97 to 9.44 g/t gold.
-- Assays from a total of 200 soil samples taken from an expanded 500 x
1,400 m gold anomalous area indicate:
-- 20 samples registering between 0.05 and 0.7 g/t gold.
-- 130 out of 200 soil samples contain greater than 0.01 g/t gold, (the
background/baseline value is 0.005 g/t gold), and gold is correlated
positively with pathfinder elements Cu and As.
-- The first diamond drill hole (NA DDH-005) on the Nareh gold prospect,
collared at the gold anomaly, ended at a depth of 200 m, the maximum
capacity of the drill rig. Assays of NA DDH-005 core samples are
pending.
-- The second hole, (NA DDH-006) located approximately 120 m north of the
first hole and directed toward the southwest, is in progress. This hole
is designed to test the continuity of the mineralization to the north
and northwest.
A link to a map of the Nareh prospect exploration program can be
viewed here:
http://www.centurionminerals.com/i/maps/Nareh_DDH-Location_web_12Oct2011_v2.jpg
Geology of Nareh Epithermal Gold Prospect
The Nareh epithermal gold mineralization occurs in a sequence of
dacite and rhyolite and subordinately of andesite and diorite, all
of which are confined within the Nareh volcanic-intrusive complex
surrounded by older granodiorite, marl, skarn and hornfels. Those
magmatic rocks were variably altered to silica and clay minerals,
and brecciated in various places. The silicified rocks appear to
form topographically resistant lithocaps that underlie the
postulated porphyry mineralization on the basis of the occurrence
of Cu-Au-Mo-bearing outcrops at the foothill. In addition, partial
oxidation is apparent in the upper part of the rocks, where some of
the highest gold grades are located. The complex is cut by a series
of NNE and NNW-trending faults, which control the epithermal
mineralization.
"We are extremely encouraged by the work done to date on the
Nareh epithermal gold prospect area. This large area marked by
widespread gold soil anomalies and the occurrence of elevated gold
concentrations in outcrops demonstrate the potential for a
significant gold discovery," stated David Tafel, CEO of
Centurion.
Pending Assay Results from Nareh Prospect Porphyry Copper
Drilling
On August 11, 2011, the Company announced the progress of the
Phase I drilling campaign on the Nareh porphyry copper target area.
At that time, two drill holes, NA DDH-001 and NA DDH-002, were
terminated at 200m due to limitation of the drilling rig despite
visual observation of the presence of copper-bearing sulfide
minerals. Two additional holes, NA DDH-003 and NA DDH-004 have
subsequently been drilled. Complete assay results from these four
drill holes have not yet been received due to delayed analysis
turn-around time from the laboratory. Results will be reported when
received.
Qualified Person, Quality Assurance and Quality Control
Thomas Mulja, Ph.D., P.Geo and Chief Operating Officer of the
Company is the Qualified Person under National Instrument 43-101
who has supervised the preparation of the technical contents of
this news release.
The sampling protocol is managed by Centurion Minerals under the
supervision of Thomas Mulja. Rock chips and sawn channel samples
are sealed in poly zip lock or "Hubco" sample bags and delivered to
Intertek Testing and Inspection Services preparation laboratory in
the city of Medan, North Sumatra. The resulting pulps are sent
directly by the laboratory staff to its headquarters analytical
laboratory in Jakarta. The Jakarta Laboratory is ISO 90001 and
17025 accredited and employs a Laboratory Information Management
System for sample tracking, quality control and reporting. In
addition to Intertek internal standard materials and blank samples,
Centurion regularly inserts into every sample batch its own
certified rock standards from OREAS and GEOSTATS, Australia, and
field duplicate samples. Gold is determined with fire assay methods
(FA 50), and other elements with Induced Coupled Plasma-Optical
Emission Spectrometry (ICP-OES; Intertek Codes: IC01 and IC50).
Intertek systematically re-assays selected low, high, and
over-limit results.
ABOUT CENTURION
Centurion Minerals Limited is an Indonesian-based,
Canadian-headquartered company focused on the procurement,
exploration and development of gold, copper and other precious
metal projects in Indonesia.
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.
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: Centurion Minerals Ltd. Investor Relations (604)
484-2161 Toll Free (North America): 1-877-784-2161 (604) 683-8544
(FAX)info@centurionminerals.comwww.centurionminerals.com
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