Centurion Initiates Resource Deliniation Work Program
VANCOUVER, BC / ACCESSWIRE / April 18, 2016 / Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", or the "Company") is pleased to announce that it has commenced a systematic grid-based mechanical trenching and excavation field program on the Ana Sofia agricultural gypsum project in Santiago Del Estero, Argentina. The objectives of this program are to confirm the extent of near surface high-purity gypsum layers across the property and assess the overburden thickness. The data generated by this program will be utilized for geological modeling and resource tonnage estimation.
The author of the recently filed, NI 43-101 technical report (news release April 5, 2016) estimated that the Ana Sofia 1 and 2 mining concession areas contain a potential exploration target of between approximately 866,000 tonnes and 1.365 million tonnes of material having gypsum contents ranging between 90% and 98%. It should be noted that this potential exploration target does not include any of the areas around or between the Ana Sofia 1 and 2 mining leases where the Company and its joint venture partner, Demetra Minerals Inc. hold exploration rights and where there is a significant potential to identify additional gypsum layers and/or extensions of the gypsum layers observed on the mining concessions.
Excavation (trenching) work has commenced at the property and the initial phase will comprise the mapping and sampling of approximately 20 trenches on a wide-spaced ~200 meter (m) x ~300 m grid pattern. The trenches will test the extent and tenor of the known gypsum layers at the property with planned depths of between 8 m and 10 m from surface. In addition, several (4-5) trenches across the property will be expanded to test depths of between 10 m and 15 m from surface in order to explore for potential additional gypsum layers. The samples generated by this work will be sent to an independent accredited laboratory for analysis and results will be released upon receipt. In conjunction with the trenching program, detailed topographic surveys of the property have been commissioned that will provide data for use in the planned geological modeling and resource estimation work as well as future project development and design work.
The Ana Sofia project comprises two mining concessions totaling 50 hectares (ha) in size within a larger (approximately 500 ha) exploration permit area. Trenching and sampling work completed by joint venture partner Demetra Minerals Inc. in 2014, identified multiple, high grade, near surface gypsum beds. Small scale producers located in the vicinity are currently extracting agricultural gypsum and selling to fertilizer distributors and farmers. High grade crushed gypsum material is being purchased by distributors for approximately US$80-$100 per tonne with associated gross margins estimated to be in the order of 65%. Agricultural gypsum is a valuable plant nutrient and plays a vital role in maintaining soil structure and nutrient balance in South American soils, allowing greater crop yields.
Qualified Person
The technical content of this news release has been reviewed and approved by Andrew J. Turner, B.Sc., P.Geol., who is the Company's Geological Consultant and is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT CENTURION
Centurion Minerals Ltd. is a Canadian-based company with an international focus on the exploration and development of gold and agri-mineral projects.
On Behalf of the Board,
“David G. Tafel"
President and CEO
For Further Information:
David Tafel
Director
604-484-2161
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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.
SOURCE: Centurion Minerals Ltd.