VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion", "the Company") wishes to update its shareholders on the progress of its Phase I drilling campaign, designed to test priority gold-copper targets that the Company has identified on its Nareh prospect situated within the Badak property in Aceh, N. Sumatra, Indonesia. The targets are within the Nareh volcanic-intrusive complex measuring 2km x 1km diameter and hosting epithermal- and porphyry-style, and skarn mineralization.
Two holes have now been completed with the first hole, NA DDH-01, being drilled to the maximum drill rig capability depth of 211 metres (m) and the second hole, NA DDH-02, collared approximately 50m to the west and completed at 205m. These holes were aimed at gold-copper mineralization with open-pit potential beneath a massive silica-clay hill. The alteration and mineralization of the rock types in both holes are similar and hence their collective summary is as follows:
| Drill log summary for NADDH01-02 | ||
| metre | Rock types | Alteration-Mineralization |
| 0-12 | Phyllite and mudstone, locally fractured | Partly oxidized and altered to silica-chlorite-clay-pyrite assemblage with minor pyrite veinlets |
| 12-211 | Porphyritic dacite or tuff; brecciated; increasing brecciation with depth; intruded by two narrow dioritic dikes up to 4m wide |
Silicification occurs throughout the length of the core with disseminated pyrite (up to 6 vol. %) and chalcopyrite, covellite and molybdenite; vuggy silica and silica-pyrite-clay assemblage are present in some intervals; both rock fragments and groundmass in breccia are mineralized. Mineralization remains open at depth. |
Assay results of these drill holes will be reported when received.
A third hole DDH-03 is underway, targeting mineralization below the gold and copper surface anomalies in the skarn to the northwest of the Nareh prospect. Upon the completion of this hole, the rig will be used to drill for epithermal gold that overlies the porphyry mineralization. This epithermal target area has widespread gold anomalies on the surface, including rock channel samples assaying up to 9 g/t Au. Centurion is currently securing a second, bigger drill rig, capable of drilling to a depth of 1000 metres in order to continue DDH-01 to a greater depth.
The Company has held a number of community engagement sessions within the project area that have included teams from the departments of mining, local legislative representatives, village heads and staff, and other community stakeholders. Villagers and stakeholders have been highly participatory and cooperative with respect to road access, construction, and exploration programs in the region.
"We are very fortunate to have such strong local stakeholder support and not be subject to protected forest permit constraints," stated David Tafel, Centurion President & CEO.
Site logistics are simultaneously being advanced in order to commence a first phase 2,000 metre drilling program on the Company's Banda Raya property where the Company previously reported results from geological and geochemical surveys that delineated a 5 km radius gold-copper prospect complex. Deposit types in this complex are: epithermal gold mineralization, porphyry copper-gold-style mineralization and gold + base metal-bearing quartz veins.
QP Statement
Thomas Mulja, Ph.D., P.Geo., and Chief Operating Officer of the Company is the Qualified Person under National Instrument 43-101 who has read and approved the technical contents of this news release.
ABOUT CENTURION
Centurion Minerals Limited is an Indonesian-based, Canadian-headquartered company focused on the procurement, exploration and development of gold 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.
Contact Information:
Investor Relations
(604) 484-2161 or Toll Free (North America): 1-877-784-2161
(604) 683-8544 (FAX)
info@centurionminerals.com
www.centurionminerals.com