Centenera Mining Corporation (“Centenera” or the “Company”)
- (TSXV: CT, OTCQB: CTMIF) announces staking of Ana Maria
project (“
Ana Maria” or the
“
Project”) and plans for initial reconnaissance
exploration and surface geochemical sampling in Q4 2018.
Ana Maria Acquisition
The Project was acquired through staking and
comprises three separate exploration claims, totalling almost
10,000 hectares and located in the vicinity of the Company’s
Organullo gold project (the “Organullo
District”).
“Staking opportunities are rare in Salta
Province where prospective ground is at a real premium.” stated
Keith Henderson, Centenera’s President & CEO, “Property
acquisitions in this region are generally achieved through option
agreements with underlying owners, which can be expensive.
With this acquisition, Centenera has an opportunity to assess and
explore this large prospective area with an extremely low
acquisition cost.”
Planned Exploration
To the best of the Company’s knowledge, the
Project has not been subject to prior exploration, at least not in
recent times. Centenera has considerable expertise in the
Organullo District and regionally in Salta Province. The area
is prospective for epithermal gold deposits and associated
mineralization. The Company possesses considerable amounts of
regional exploration data that will aid initial exploration and
targeting. This data includes extensive BLEG sampling results
covering prospective belts in northwest Argentina, which was
collected in partnership with Newmont in 2008. The Company
also has interpreted regional satellite imagery, regional
geophysical data, and various other geological and geochemical data
sets.
Next steps will include initial reconnaissance
of the Project areas to determine where initial exploration should
focus. Thereafter, exploration will likely focus on detailed
surface geochemistry.
Qualified Person
Keith J. Henderson, P.Geo., is the Company's
qualified person as defined by National Instrument 43-101 and has
reviewed the scientific and technical information that forms the
basis for portions of this news release. He has approved the
disclosure herein. Mr. Henderson is not independent of the
Company, as he is an employee, a shareholder and holds incentive
stock options.
About Centenera Mining
Corporation
Centenera is a mineral resource company trading
on the TSX Venture Exchange under the symbol CT and on the OTCQB
exchange under the symbol CTMIF. The Company is focused 100%
on mineral resource assets in Argentina. The Company is
focussed on its flagship Esperanza copper-gold project as well
as the El Quemado lithium pegmatite project in Salta Province
and the Organullo gold project. The Organullo project has
approximately 8,000 metres of historical drilling and assay
results. Organullo has a geological target range from 19.8
million tonnes grading at 0.94 g/t gold (600,000 ounces) to 31.6
million tonnes grading 0.92 g/t gold (940,000 ounces) using a 0.5
g/t gold cut-off-grade. It should be noted that these
potential exploration target quantities and grades are conceptual
in nature, that insufficient exploration and geological modelling
has been done to define a mineral resource, and that it is
uncertain if further exploration will result in the delineation of
a mineral resource.
Figure 1: Ana Maria Project
location accompanying this announcement is available
at
http://www.globenewswire.com/NewsRoom/AttachmentNg/1e2bfd1c-5201-433d-9f98-7f074c8d89ff
The project consists of three exploration
concessions within the Organullo
District. The Ana Maria concessions are highlighted in blue
outline.The Company’s Organullo project
concessions are highlighted in red outline.
On Behalf of the Board of Directors of
CENTENERA MINING
CORPORATION
"Keith Henderson"
President & CEO
For further details on the Company readers are
referred to the Company's web site (www.centeneramining.com) and
its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please
contact:
Keith Henderson
Phone: 604-638-3456
E-mail: info@centeneramining.com
Neither 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 news release.
This news release contains forward-looking
statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable
Canadian and U.S. securities legislation, including the United
States Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, included
herein including, without limitation, statements regarding the
anticipated content, commencement, timing and cost of exploration
programs in respect of the Project and otherwise, anticipated
exploration program results from exploration activities, and the
Company's expectation that it will be able to enter into agreements
to acquire interests in additional mineral properties, the
discovery and delineation of mineral deposits/resources/reserves on
the Project, and the anticipated business plans and timing of
future activities of the Company, are forward-looking statements.
Although the Company believes that such statements are reasonable,
it can give no assurance that such expectations will prove to be
correct. 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
statements involve 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 mineral exploration and development and mine development
activities at the Project, including the geological mapping,
prospecting and sampling program being proposed for the Project
(the "Program"), actual results of exploration activities,
including the Program, 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 precious
metals and copper, 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 or the inability of the Company to obtain
any necessary permits, consents or authorizations required,
including TSXV acceptance, for the Property acquisition, 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 Company's
Management Information Circular (April 2016) and as discussed in
the annual management's discussion and analysis and other filings
of the Company with the Canadian Securities Authorities, copies of
which can be found under the Company's profile on the SEDAR website
at www.sedar.com.
Readers are cautioned not to place undue
reliance on forward looking information. Except as otherwise
required by law, the Company undertakes no obligation to update any
of the forward-looking information in this news release or
incorporated by reference herein.
Centenera Mining Corporation (TSXV:CT)
Historical Stock Chart
From Apr 2024 to May 2024
Centenera Mining Corporation (TSXV:CT)
Historical Stock Chart
From May 2023 to May 2024