Centenera Mining Stakes Ana Maria Project Salta Province, Argentina
TSX VENTURE: LMS
Plans Q4 Exploration
VANCOUVER, British Columbia, Aug. 30, 2018 (GLOBE NEWSWIRE) -- 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.”
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.
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
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
President & CEO
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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.