Centenera Acquires Trigal Gold Project, Salta Province, Argentina
Vancouver, British Columbia--(Newsfile Corp. - December 1, 2015) - Centenera Mining Corp. (TSXV: CT) ("Centenera" or the "Company"), has acquired, through staking, a 100% interest in the Trigal gold exploration project ("Trigal" or the "Project"), Salta Province, northwest Argentina (Figure 1).
"Following the recent Presidential election and the expected changes to economic policy, it is clear that the new administration will encourage mining and exploration investment in Argentina. For the first time, the mining industry will have ministerial representation in the cabinet, with mining now being included within the energy portfolio." stated Keith Henderson, Centenera's CEO. "We are adding the Trigal gold project to our existing project portfolio, which includes the flagship Organullo gold deposit. Trigal is a gold project we have been able to acquire by leveraging value from the Company's exploration database, recently acquired from Cardero Resource Corp."
NW Argentina BLEG Dataset
Centenera owns an extensive northwest Argentina exploration dataset, including results of a proprietary Bulk Leach Extractable Gold ("BLEG") survey conducted in 2007 and 2008 by Cardero Resource Corp. ("Cardero") in partnership with Newmont Mining Corp. ("Newmont"). The BLEG data covers prospective areas of Jujuy and Salta Provinces, covering an area of 300 km by 90km and comprising nearly 1,200 sample locations.
Newmont's proprietary BLEG technology is a cornerstone of regional exploration programs, and a continuous program of laboratory comparisons has consistently demonstrated that no commercial alternative can provide its precision and accuracy. BLEG techniques provide a competitive advantage in reconnaissance gold exploration leading to property acquisitions. Newmont credits BLEG with the discovery of its large Batu Hijau porphyry copper-gold deposit in Indonesia and many projects in its exploration pipeline are the direct result of BLEG anomalies.
Trigal Project Details
The Trigal project, comprising 6,049 hectares, was selected for acquisition following review of the Company's regional exploration datasets, including BLEG sampling results, which cover prospective areas throughout northwest Argentina. The project is located in Salta Province, which is ranked as South America's number two jurisdiction for mining investment (source Fraser Institute ‘Survey of Mining Companies 2014'). Trigal is located approximately 30 km west of San Antonio de los Cobres, the largest town in the area (Figure 1).
Salta's epithermal precious metals district (measuring approximately 70km x 40km) includes Centenera's Organullo gold project (30km to the south east) and Golden Minerals' El Quevar silver project less than 10km to the southwest (Figure 2). BLEG samples are used to ‘screen' for anomalies within large drainage basins and a total of 20 BLEG samples were taken within the Trigal claim block. Results are positive and identify the Trigal claim block as a priority for gold exploration (Figure 3). The ultra-low detection BLEG identified samples ranging from below detection to 5ppb gold, plus anomalous levels of other elements like bismuth. The identification of three anomalous samples (all ranging 2 to 5ppb) from two neighbouring drainages is unusual and positive. The BLEG technique more typically identifies just a single point anomaly for follow up.
The next steps at Trigal will include detailed surface geochemical sampling and mapping which will focus on the large 4km by 2km priority target identified (Figure 3).
Figure 1: Location of the Trigal and Organullo gold projects, close to infrastructure in Salta Province
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/4196/18318_centen2.jpg
Figure 2: Location of the Company's Trigal, Organullo and Crosby Projects relative to other exploration and development projects in northwest Argentina.
To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/4196/18318_centen4.jpg
Figure 3: Newmont BLEG sample locations within the Company's new Trigal claim block.
Note that most sample results outside of the Trigal block have been masked for reasons of confidentiality.
To view an enhanced version of Figure 3, please visit:
http://orders.newsfilecorp.com/files/4196/18318_centen6.jpg
Stock Options
The Company also announces that, pursuant to its Stock Option Plan, it has granted stock options to consultants of the Company to purchase up to 200,000 common shares in the capital stock of the Company. The options are exercisable on or before November 30, 2016 at a price of $0.07 per share.
Qualified Person
EurGeol Keith Henderson, PGeo, the Company's President & CEO and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr. Henderson is not independent of the Company, as he is an officer and shareholder.
About Centenera Mining Corporation
Centenera is a resource company trading on the TSX Venture exchange, symbol CT. The company is focused 100% on Argentina with three precious metals assets and extensive exploration datasets. The Company's strategy is to acquire more high-quality precious metal and copper assets.
Argentina is a country rich in natural resources and is home to some of the largest mineral deposits in South America and employs more than 500,000 workers directly in its mining industry. The world's largest mining companies, such as Glencore, Barrick, AngloGold and Yamana have invested heavily in Argentina over the last 10 years and multiple mine construction & expansion projects are in progress or imminent.
The country held Presidential elections in October 2015 and a run-off election in November 2015. The opposition candidate, Mauricio Macri, won the election, bringing the 12-year rule of the Peronist Party to an end. The election was won on promises to make substantial changes to existing policies, with economic reform at the top of the agenda. In an underexplored, highly prospective country, the changing political landscape presents an exciting opportunity.
For more information on the Company’s board of directors, management and assets, please refer to the web site at www.centeneramining.com and its Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
Centenera Mining Corp.
"Keith Henderson"
President & CEO
For further information, please contact: Keith Henderson
Phone: 604-638-3456
E-mail: info@centeneramining.com
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented on this website and the information incorporated by reference herein, constitutes “forward looking information” within the meaning of applicable Canadian securities laws concerning the business, operations and financial performance and condition of Centenera Mining Corp. (“the Company”). All statements, except for statements of historical fact, that address activities, events or developments that management of the Company expects or anticipates will or may occur in the future including such things as future capital expenditures (including the amount and nature thereof), business strategies and measures to implement strategies, competitive strengths, goals, expansion and growth of the business and operations, plans and references to the future success of the Company, and such other matters, are forward looking statements. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mining development, actual results of exploration activities, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of metal, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading “Risk Factors” in the Information Circular (May 2014) and discussed in the annual management’s discussion and analysis and other filings with the Canadian Securities Authorities of the Company.
Shareholders are cautioned not to place undue reliance on forward looking information. The Company undertakes no obligation to update any of the forward looking information on this website or incorporated by reference herein, except as otherwise required by law.