Centurion Minerals Ltd.
TSX VENTURE : CTN

Centurion Minerals Ltd.

November 07, 2011 09:00 ET

Centurion Reports Initial Drill Results From its Badak Property Northern Sumatra, Indonesia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2011) - Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion", "the Company") wishes to report the results from the first three holes of its ongoing, Phase I diamond drill program targeting copper-gold mineralization on its Nareh prospect within the Badak property in Northern Sumatra, Indonesia.

Nareh Prospect: Porphyry Copper-Gold Drilling

Five drill holes have now been completed that tested the gold-copper-molybdenum anomalous surface rock samples along the north-western margin of the Nareh volcanic-intrusive complex. A link to a map of the Nareh prospect exploration and drilling program can be viewed here: http://www.centurionminerals.com/i/maps/NA_DrillLocation_031111.jpg.

Assay results from the first three holes in this area returned the following intervals:

Hole No. UTM
coordinates (m
) Azimuth/
dip (°
) Depth
(m
) From
(m
) To
(m
) Interval
(m
) Cu
(%
) Mo
(%
)
NA_DDH 1 256691 E/ 501471 N 95/60 211.2 155 168 13 0.05
197 209 12 0.11
77 91 14 0.02
198 211 13 0.03
NA_DDH 2 256644 E/ 501479 N 70/60 205.3 36 46 10 0.07
173 190 17 0.07
NA_DDH 3 256646 E/ 501476 N 345/60 105.1 23 46 23 0.08
NA_DDH 4 256788 E/ 501721 N 235/60 177.4 Assays Pending
NA_DDH 7 256691 E/ 501436 N 95/60 396.5 Assays Pending

Copper-molybdenum mineralization occurs in brecciated and veined volcanic rocks. Although Hole NA_DDH 1 was stopped at 211 metres (m) due to the depth limitation of the drilling rig, visual examination of the core shows encouraging amounts of Cu-sulfide minerals and molybdenite, which increases with depth. In order to determine the continuity of the mineralization at greater depth in NA_DDH 1, a bigger rig was utilized to drill hole number NA_DDH 7 located approximately 30 m to the south. This hole was terminated at 396 m, and assays are pending.

NA_DDH 2 intersected narrow zones of copper mineralization, and NA_DDH 3, which was directed toward the nearby Au-Cu-bearing skarn, also hosts narrow, low-grade copper contents.

Centurion has executed confidentiality agreements with several mining groups that have expressed interest in partnering and financing this prospect. The first due diligence property visit has been concluded and a review of inflowing data by all interested parties is continuing.

Nareh Prospect: Gold Drilling Targets

The Company has now completed two drill holes on the epithermal gold target in the Nareh volcanic complex with a third underway.

  • Hole NA_DDH 5 was ended at a depth of 200 m, the maximum capacity of the drill rig and it intersected narrow mineralized zones registering 3 m @ 0.6 g/t Au and 0.15 % Cu from 5 m, and 1 m @ 0.96 g/t Au from 158 m, albeit rock channel samples in this area assayed up to 1 m @ 11 g/t Au as previously reported. Consequently the Company is re-examining the nature of the mineralization.
  • Hole NA_ DDH 6, collared at approximately 120 m north of hole NA_DDH 5 and directed toward the southwest, was terminated at a depth of 180 m. This hole was designed to test the continuity of the mineralization to the west and southwest. Assays are pending.
  • Hole NA_DDH 8 (in progress) is collared approximately 75 m higher in elevation than NA_DDH 6 and is aimed at intersecting a potential near surface, high-grade gold zone. Seven rock chip samples in this area returned assays from 0.1 to 2.2 g/t Au.

Banda Raya Property

Exploration crews have been able to establish initial drill targets on the Banda Raya property where the Company previously reported a geological and geochemical survey that resulted in delineating a 5-km radius gold-copper mineralization complex. This property hosts epithermal, gold-polymetallic and porphyry copper-gold prospects. Rock assay results from targeted mineralized areas, including, a newly uncovered epithermal gold lode system that so far has been traced for 300 m long and up to 5 m wide, are being compiled and will be reported shortly. This lode remains open at both ends. The Company anticipates relocating one of two drill rigs currently under contract to the project area. Once logistics, drill pads and infrastructure are in place, Centurion will implement a focused drill program on these prospects.

Qualified Person, Quality Assurance and Quality Control

Thomas Mulja, Ph.D., P.Geo, and Chief Operating Officer of the Company is the Qualified Person under National Instrument 43-101 who has supervised the preparation of the technical contents of this news release.

The sample chain of custody is managed by Centurion Minerals under the supervision of Thomas Mulja and/or exploration manager Thomas Dott. Core samples are picked up from the drill site at the end of every shift by Centurion personnel for direct delivery to the secured drill core storage house located next to Centurion regional office in the town of Takengon. The storage is accessible only by approved personnel.

Intervals of core to be analyzed are split with a mechanized core cutter in half with one half to be sent to the laboratory for geochemical analysis and the remaining half to be kept in the storage for future reference and uses. Samples to be assayed will remain under the control of Centurion personnel until shipped or delivered to Intertek Testing and Inspection Services preparation laboratory in the city of Medan, North Sumatra that is responsible for pulverization of the samples. The pulps are then forwarded directly by Intertek personnel to the Intertek Analytical Laboratory in Jakarta.

Intertek is ISO 90001 and 17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting. In addition to Intertek internal standard materials and blank samples, Centurion regularly inserts into every sample batch its own certified rock standards from OREAS and GEOSTATS, Australia, and field duplicate samples. Gold is determined with fire assay methods (FA 50), and other elements with Induced Coupled Plasma-Optical Emission Spectrometry (ICP-OES; Intertek Codes: IC01 and IC50). Intertek systematically re-assays selected low, high, and over-limit results.

ABOUT CENTURION

Centurion Minerals Limited is an Indonesian-based, Canadian-headquartered company focused on the procurement, exploration and development of gold, copper and other precious metal projects in Indonesia.

On Behalf of the Board,

David G. Tafel, President and CEO

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.

Neither the 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 release.

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