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Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", or the "Company") is pleased to announce that findings of a comprehensive compilation of historical exploration have resulted in the interpretation of a high-quality priority gold exploration target on the Newman Property, part of the Company's Casa Berardi West Gold Project located in northeastern Ontario.
The gold target is based on a basal till gold anomaly evident in reverse circulation drilling completed in 1987 resulting in a total of 9 heavy mineral concentrate samples returning assay grades > 1 gram per tonne ("g/t") Au including a high sample value of 38 g/t Au (see Figure 1). The exploration target area is supported by the occurrence of low level, but strongly anomalous, bedrock gold intersections located in an 'up-ice' position reported in diamond holes drilled dominantly in the 1970s and 1980s.
Based on the compilation of this data, the Company took steps to stake an additional 1,671 hectares (103 claim units) contiguous and to the north and east of the Newman Property providing additional ground for exploration expansion and discovery. The Company is currently receiving and reviewing tenders to complete a high resolution airborne magnetic survey covering the newly assembled Newman land position as the likely next step in exploration targeting. The Company is also considering ground based electrical geophysical surveying to be followed by reverse circulation and diamond drilling.
David Tafel, CEO of the Company commented: "Having completed compilation and review of the geology and historical exploration data, it is evident that all three properties contain significant exploration potential. We have prioritized the till anomaly target on the Newman Property and have begun preparations for our 2024 exploration program. Our goal is to bring the Newman Property to the drill stage during the 2024 exploration season while at the same time advancing exploration on the Hepburn and Noseworthy properties."
About the Casa Berardi West Gold Project
The Casa Berardi West Gold Project consists of three properties (Newman, Noseworthy, and Hepburn) covering a total area of approximately 6,782 hectares located in the Abitibi Greenstone belt; a geological domain with past production and resources totaling over 200 million ounces of gold. All three properties are associated with structural zones which host numerous gold occurrences and active gold exploration projects. The Casa Berardi Mine, which has produced approximately 2.5 million ounces of gold and has annual gold production of approximately 125,000 ounces is located in western Quebec, approximately 35 kilometers east of the properties. The Casa Berardi West Project is located approximately 100 kilometers east and northeast of the town of Cochrane, Ontario. Access to the properties is provided by a network of historical and locally active forestry roads.
Figure 1. Newman Property Geology and historic drilling locations and results
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Figure 2. Geology, deposits and structural environment of the Casa Berardi West claim groups.
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https://images.newsfilecorp.com/files/4407/206670_eaa2014db4bc4970_004full.jpg
Qualified Person
Jamie Lavigne, P. Geo, a Qualified Person as defined in NI43-101 has reviewed and approved the technical information in this press release.
About Centurion Minerals Ltd.
Centurion Minerals Ltd. is a Canadian-based company with a focus on mineral asset exploration and development in the Americas. Centurion can earn a 100% interest in the Casa Berardi West Gold Project which is located in the prolific gold-producing, greenstone belt of the central Abitibi Subprovince of north-eastern Ontario.
"David G. Tafel"
President and CEO
For Further Information Contact:
David Tafel
604-484-2161
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.
Cautionary Statement Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements," are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the timing of final approval of the Project; the timing, terms and completion of any proposed private placement; the expected use of proceeds from the financing; the Company's undertaking of initial exploration on the Project; and the Company's intention to exercise its option to purchase a 100% interest in the Project.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the inability of the Company to raise capital on acceptable terms, or at all; unanticipated costs; adverse changes in legislation; that the Company will not undertake initial exploration on the Project within the timeframe anticipated or at all; market uncertainty; that the Company's operations, business, personnel or financial condition is adversely impacted by COVID-19 or the ongoing conflict in Eastern Europe; and the risk that Company is not able to exercise its option to purchase a 100% interest in the Project.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation; that the Company will be able to raise capital on acceptable terms; that the Company will undertake exploration on the Project, as anticipated; that the Company will retain the key personnel required to complete its business objectives; that there will be no adverse changes in legislation; and that the Company will have the resources required to exercise its option to acquire the Project.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information disclosed herein, except in accordance with applicable laws.
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