Centurion reports progress of Nareh gold prospect
Thursday, October 13 2011 - 04:33 AM WIB
This epithermal gold prospect, together with porphyry copper and gold-copper skarn prospects occurs in a 1.2 x 1 kilometer volcanic-intrusive complex.
The current exploration program consists of ground magnetic and soil geochemical surveys over the entire complex area (both the epithermal and porphyry copper prospects), and a minimum of 4,000 meters of reconnaissance diamond drilling.
Several high gold anomalies in rock and soil samples have been delineated within the surveyed area, enabling Centurion to generate drill hole locations aimed at discovering economically viable gold mineralization.
The most significant anomalies are as follows:
? Assays from a total of 92 rock chip and one meter channel samples within a 400 x 600 meters geochemical anomalous area indicate:
- continuous channel samples returned 11m of 2.83 g/t gold, with the highest gold grade of 11 g/t over one meter.
- 21 of the rock samples contain greater than 0.1 gram/ton (g/t) gold, including 6 rock chip samples collected at 1m spacing ranging from 1.97 to 9.44 g/t gold.
? Assays from a total of 200 soil samples taken from an expanded 500 x 1,400 m gold anomalous area indicate:
- 20 samples registering between 0.05 and 0.7 g/t gold.
- 130 out of 200 soil samples contain greater than 0.01 g/t gold, (the background/baseline value is 0.005 g/t gold), and gold is correlated positively with pathfinder elements Cu and As.
? The first diamond drill hole (NA DDH--005) on the Nareh gold prospect, collared at the gold anomaly, ended at a depth of 200 meter, the maximum capacity of the drill rig. Assays of NA DDH--005 core samples are pending.
? The second hole, (NA DDH--006) located approximately 120 meters north of the first hole and directed toward the southwest, is in progress. This hole is designed to test the continuity of the mineralization to the north and northwest.
Geology aspect
The Nareh epithermal gold mineralization occurs in a sequence of dacite and rhyolite and subordinately of andesite and diorite, all of which are confined within the Nareh volcanic-intrusive complex surrounded by older granodiorite, marl, skarn and hornfels.
Those magmatic rocks were variably altered to silica and clay minerals, and brecciated in various places. The silicified rocks appear to form topographically resistant lithocaps that underlie the postulated porphyry mineralization on the basis of the occurrence of Cu-Au-Mo-bearing outcrops at the foothill.
In addition, partial oxidation is apparent in the upper part of the rocks, where some of the highest gold grades are located. The complex is cut by a series of NNE and NNW-trending faults, which control the epithermal mineralization.
"We are extremely encouraged by the work done to date on the Nareh epithermal gold prospect area. This large area marked by widespread gold soil anomalies and the occurrence of elevated gold concentrations in outcrops demonstrate the potential for a significant gold discovery," said David Tafel, CEO of Centurion.
Assay Results
On August 11, 2011, the company announced the progress of the Phase I drilling campaign on the Nareh porphyry copper target area. At that time, two drill holes, NA DDH--001 and NA DDH--002, were terminated at 200 meters due to limitation of the drilling rig despite visual observation of the presence of copper-bearing sulfide minerals.
Two additional holes, NA DDH--003 and NA DDH--004 have subsequently been drilled. Complete assay results from these four drill holes have not yet been received due to delayed analysis turn-around time from the laboratory. (romel)