The Conversation (0)
Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", or the "Company") is pleased to announce that field work is about to commence on the Limestone Gold Project (the "Project"), located less than 35 kilometres ("km") west of Zijin Mining's ("Zijin") Rosebel Gold Mine and 17 km west of Zijin's Saramacca Mine in Suriname. (see Figure 1).
An evaluation of historical information related to the Project, and regional exploration data from the 1990's and early 2000's is well underway by Centurion Geologists. Limestone lies within an area of historic near surface exploration, including stream sediment and auger sampling, but limited evaluation by drilling. The region also has a long history of small-scale mining and the resulting outcrop exposures are very useful exploration tools that can accelerate exploration on the Project as well as aid in evaluating surrounding areas of potential interest.
A helicopter survey is scheduled to assist in identifying areas of recent artisanal mining in saprolite (weathered bedrock) and enable planning and implementation of the most effective ground evaluation, which is to include auger sampling and trenching. Local miners have established camps that can be used by Centurion's experienced geological crews. Road access to the Project will be more expedient once the current peak of the rainy season has abated.
Dr. Dennis LaPoint, President of Centurion, commented: "The Limestone Gold Project lies in one of Suriname's most prolific gold districts, proximal to Zijin's producing Rosebel operation and within structural trends known to host major gold deposits. The Project has seen minimal modern exploration. Our team's initial reconnaissance, combined with the integration of historical data, will rapidly advance our understanding of structural controls and mineralization styles using current exploration techniques. The Project's road accessibility and proximity to existing mine infrastructure provide significant logistical advantages."
Figure 1: Limestone proximity to Zijin Rosebel and Saramacca Mines
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4407/298392_6815923f94266a91_001full.jpg
Options Grant
The Company also wishes to announce that, in accordance with the Company's Share Option Plan, it has granted options to purchase an aggregate of 2,500,000 common shares of the Company to certain directors, officers and consultants of the Company. Each Option is exercisable into one Common Share at an exercise price of $0.075. The Options are subject to certain vesting conditions and expire five years from the grant date.
Qualified Person
The technical content of this news release has been reviewed and approved by Dr. Dennis LaPoint, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP and the Company have not completed sufficient work to verify the information on the properties of neighbouring companies.
About Centurion Minerals Ltd.
Centurion Minerals Ltd. is a Canadian-based company with a focus on precious mineral asset exploration and development in the Americas.
"David G. Tafel"
Chief Executive Officer
For Further Information Contact:
David Tafel
info@centurionminerals.com
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 Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298392
