|October 18, 2010|
Centurion Releases NI 43-101 Technical Report On Banda Raya/Halimon Project, Northern Sumatra, Indonesia
|Vancouver, B.C., October 18, 2010. Centurion Minerals Ltd. (CTN: TSX-V) ("Centurion", or "the Company") is pleased to announce the release of a NI 43-101 Technical Report on its Banda Raya/Halimon project, located in Aceh Province, Northern Sumatra, Indonesia.|
This report provides the first consolidated and detailed summary of the geology, history, and exploration of the Banda Raya and Halimon projects. A joint venture agreement for the acquisition of an 80% interest in the projects, between Centurion and two Indonesian partners was news released on May 4, 2010. The full Technical Report may be accessed at www.sedar.com, or through the Centurion Minerals website: http://www.centurionminerals.com/i/pdf/TechReport-BRHProject.pdf
The Banda Raya and Halimon projects are composed of two (2), contiguous, 10,000 hectare, Exploration Mining Business Permits (IUP's) located in Pidie Regency, Aceh Province, Northern Sumatra, Indonesia. The project areas fall within the jurisdiction of the Regent of Pidie who has authority on exploration and mining activities under current Indonesian mineral laws to issue IUP Permits. The IUP's issued to Centurion's Indonesian joint venture partners by the Pidie Regency, authorize the partners to carry out exploration for an initial 5 year period.
Approximately 4 kilometres to the south of the Lee Cuko prospect (Halimon) and approximately 6.5 km east-south-east of the Leuping prospect (Banda Raya) is the East Asia Minerals Miwah epithermal gold project, which is currently the subject of an extensive drilling campaign. The Lee Cuko and Leuping occurrences bear many geological and petrological similarities with Miwah, and moreover they fall in the same regional mineralised halo. As such, these are considered the strongest indicators of the potential of the projects.
The Technical report states that the "exploration projects show strong potential for the discovery of gold and/or copper gold mineralized zones. This is supported by the encouraging discoveries made by previous exploration companies -- namely Highlands Pacific Gold Limited and Barrick Gold Corporation -- on the six (6) known mineral occurrences within the project area."
Mineralisation encountered to date falls under two (2) genetic models: high-sulphidation epithermal gold and copper-gold porphyry mineral deposit types. Sumatra has an extensive history of gold mining and the presence of both epithermal gold and copper-gold porphyries is well documented. The mineralized zones described within the permitted areas are consistent with the types of mineral deposits and occurrences known in the region.
The Banda Raya/Halimon NI 43-101 Technical Report was prepared by Mr. Antoine Fournier, P. Geo., a Quebec Registered Independent Consulting Geologist and principal of Nievex Geoconsultant Inc. Mr. Fournier is a graduate of Concordia University of Montreal, with a B.Sc. degree in Geology (1990) and from McGill University of Montreal, with an M.Sc. degree in Economic Geology (1994). Mr. Fournier has been involved in the exploration for precious, base, industrial and high-technology metals and diamonds since 1990 and is a "Qualified Person" as set out in National Instrument 43-101 ("NI 43-101"). Mr. Fournier is responsible for the preparation of the entire NI 43-101 Technical Report on the Banda Raya/Halimon Project in the Pidie Regency, Aceh Province, Sumatra, Indonesia dated the 13th day of October, 2010.
QUALIFIED PERSON STATEMENT
Dylan Jeffriess, P.Geo and independent consulting exploration geologist to the Company, is a qualified person under National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
Centurion Minerals Limited is a Canadian-based company focused on the procurement, exploration and development of gold projects in Aceh province, Northern Sumatra, Indonesia.
On Behalf of the Board,
"David G. Tafel"
President and CEO
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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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.
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