Centurion adds Aceh exploration portfolio

Canadian mineral exploration firm Centurion Minerals Ltd. Announced Tuesday that it has executed two Agreements to acquire an 80% joint venture interest in the Banda Raya and Halimon gold Properties in Aceh Province.

The two 10,000 hectare properties are located adjacent to, and directly to the north of, the East Asia Minerals' Miwah discovery, the Company said.

IUP Mining Business Licenses for Exploration (Ijin Usaha Pertambangan) on the two properties have been issued pursuant to Indonesian law, which secure the projects' tenure and enable formal exploration activities to commence, it said.

Historical exploration activities completed by previous operators (PT Miwah Tambang Emas and PT Barrick Mutiara Woyla) within the project area during the 1990's consisted of mapping, targeting, surface drainage sampling and follow-up reconnaissance. Results from this work outlined a structural corridor prospective for epithermal -- porphyry style mineralization located between the main Miwah prospect (approximately 2.5 kilometres south of the Halimon border) and the Peut Sague Volcano 8 kilometres to the north of Miwah.

Centurion's geological team has travelled to the properties and is currently compiling and confirming the historical data that will lead to a comprehensive exploration plan to be carried out in the near future.

Centurion will be responsible for administrative and legal costs, including processing costs related to the mining business license (IUP) and will also be responsible for 100% of the exploration costs to feasibility stage.

Earlier, the Company also executed agreement to acquire stake in gold exploration prospects in Aceh called Sable and Badak properties.

Earlier, the Company also executed agreement to acquire stake in gold exploration prospects in Aceh called Sable and Badak properties. (alex)