Centurion Minerals Ltd., is pleased to report that its local Myanmar partner, Crown Mineral Co., has confirmed that two mining exploration concession applications and associated land packages have been accepted for processing by the Myanmar Mining Ministry. The mineral concessions were applied for on the basis of: Centurion Minerals-80%; Crown Mineral Co Ltd.-20%.
The "Slate Belt" gold concession is located south of Mandalay and covers an area of approximately 103,000 hectares. It is bordered by the Modi Taung gold mine in the south and the Lebyin gold and polymetallic mines in the east. In the late 1990s to early 2000s, the area was part of Ivanhoe Mines Ltd. "Block 10". Historical exploration work by Ivanhoe yielded a number of prospects and anomalies which may assist the Company's exploration efforts in early identification of priority exploration targets.
The "Bandi" gold concession is located north of Mandalay and is approximately 100,000 hectares in size. The area is flanked by two operating gold mines, one of which is the Phayaung Taung mine located to the south. A recent geological map shows that the Bandi concession area consists of intrusion and associated marls, and other rock types, all of which are cut by north-trending structures. Adjacent gold skarn deposits are reportedly controlled by structures striking northward as well.
The two gold concessions fall within the major gold and associated mineral belts that span N-S central Myanmar. Hundreds of gold occurrences at varying stages of exploration have been noted along the belts, but very few have been explored systematically using modern methodology. Most of the occurrences are of epithermal and intrusion-related style of mineralization.
"Our technical team is immediately preparing for an evaluation site visit to these two areas in order to identify priority exploration targets and to advance and finalize mineral license approvals," stated Alfred Lenarciak, Centurion Chairman.