Centrasia Mining Corp.
OTC Bulletin Board : CTMHF

Centrasia Mining Corp.

November 15, 2007 09:45 ET

Centrasia Intersects 166.0 Metres of 0.31% Nickel at Souker

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2007) - Centrasia Mining Corp. ("the Company") (TSX VENTURE:CTM)(OTCBB:CTMHF)(FRANKFURT:C8M) announces additional assay results from the ongoing infill drill program at its 100% owned Souker Nickel Deposit ("Souker") in the Kola Peninsula of northwestern Russia. As of November 9th 2007, a total of 5,015 metres of drilling has been completed in 42 drill holes of the total proposed 10,000 metre program. The Company now has results for the first 22 drill holes that were completed during the Phase I drill program this summer.

Douglas Turnbull the Company's President and CEO states "We continue to see excellent continuity and consistency in the nickel grade. The nickel grades we see at Souker compare quite favorably to Talvivaara Mining Company's (TALV:LSE) bulk tonnage Nickel deposit that is currently being developed five hundred kilometres to the southwest of us in Finland."

The mineralized intervals reported below continue to demonstrate the bulk tonnage, near surface target potential at Souker that is amenable to open-pit mining. The intervals reported below have been calculated using a 0.20% Ni cut off grade with no internal waste exceeding 3 m or a grade lower than 0.17% Ni. The historic resource estimate for Souker (See May 14, 2007 News Release) was calculated using a minimum 0.3% Ni cut off grade. The hosting stratigraphy dips variably to the south and although holes have been oriented to intersect the mineralized horizon as optimally as possible, the intervals reported below may not represent true width.

Drill hole From (m) To (m) Interval (m) % Ni % Cu
CP07-03 99.8 105.9 6.1 0.25 0.08
CP07-14 2.9 11.0 8.1 0.24 0.05
17.0 53.0 36.0 0.25 0.03
56.9 69.8 12.9 0.26 0.07
CP07-15 22.6 120.5 97.9 0.25 0.03
CP07-18 49.0 60.0 11.0 0.23 0.06
116.0 282.0 166.0 0.31 0.07
CP07-19 59.0 210.0 151.0 0.26 0.03
CP07-21 2.0 58.9 56.9 0.29 0.06
CP07-22 71.4 165.1 93.7 0.23 0.04
CP07-23 73.8 77.0 3.2 0.27 0.11
CP07-24 14.1 34.1 20.0 0.22 0.02
69.0 78.0 9.0 0.20 0.03
99.0 101.0 2.0 0.27 0.05
106.0 191.7 85.7 0.29 0.07
CP07-25 3.4 37.4 34.0 0.30 0.05
73.4 146.8 73.4 0.29 0.07

See attached map for drill hole collar locations, please click the following link to view: http://www.ccnmatthews.com/docs/ctm1115.pdf

The mineralized intervals reported above are associated with varying degrees of disseminated to semi-massive sulphide mineralization (pentlandite, chalcopyrite, and pyrrhotite) within layered, medium to coarse grained peridotite and pyroxenite. Drill holes CP07-02, CP07-16, and CP07-17, drilled on the southwest and west flank of the deposit, where the mineralization is faulted and discontinuous, did not return any significant results.

The 2007 drill program has been laid out to verify and upgrade the historic Soviet resource estimate from a C2 to C1 category (See May 14, 2007 News Release) and convert the historic Soviet estimate into a NI43-101 compliant resource. All drill data to date from the Souker Deposit is being modeled in house in preparation for the new resource estimate to be completed in early 2008. Centrasia has retained SRK Consulting to provide an independent review of the resource estimation and modeling.

All of the drilling is being completed with NQ sized core using a Longyear LF 70 drill rig. The drill core is being logged, photographed, sawn, sampled, and core samples are being prepared at the Central Kola Expedition laboratory in Monchegorsk. Assaying is being completed by the Kola Geological Information Laboratory Centre in Apatity. This lab is certified under GOST R ISO/MEK 17025-2000. It is also certified by the VIMS Institute in Moscow and is subject to annual inspections under that certification. A full QA/QC program has been initiated on the Souker project and the work program is being carried out under the supervision of Bill Tafuri, P.Geol., the Company's Vice President of Exploration and a "Qualified Person" for the purposes of NI 43-101.

Centrasia is listed for trading on the TSX Venture under the symbol "CTM", on the OTCBB under the symbol "CTMHF" and on the Frankfurt Exchange under the symbol "C8M". To find out more about Centrasia Mining Corp., please visit the company website at www.centrasiamining.com.

On behalf of the Board of Directors of CENTRASIA MINING CORP.

Douglas Turnbull, President & C.E.O.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • Centrasia Mining Corp.
    Douglas Turnbull
    President & C.E.O.
    (604) 688-4110
    (604) 688-4169 (FAX)
    Website: www.centrasiamining.com