Century Mining Peru to Commence Exploration on Colina Dorada Property in Peru
Tuesday August 15, 9:30 am ET
BLAINE, WASHINGTON--(CCNMatthews - Aug. 15, 2006) - Century Mining Corporation (TSX VENTURE:CMM - News) announces today that Century Mining Peru's Colina Dorada Property, acquired in February of 2006 and located in northern Peru, will be the focus of a systematic exploration program in the third quarter of 2006. The project is located approximately 130 kilometers northeast of the city of Piura in the District of Las Lomas, and is situated in low foothills on the border with Ecuador along the Rio Chirra. The region is very dry and characterized by low scrub brush and cactus and is sparsely populated. Century Peru acquired the concessions directly from the government and there are no royalties or payments to third parties.
The property location and exploration maps can be viewed by clicking on the following link:
The Colina Dorada property is located near Plexmar Resources' Bolsa del Diablo property. Plexmar has reported high values of gold (186.5 g/t), silver (141 g/t), and copper (0.8%) from sampling in veins, stockworks, and significant alteration zones.
Dynasty Metals and Mining, working in Ecuador north of the Colina Dorada property, has delineated a previously unexplored Copper-Gold Belt in Ecuador, which trends southwest into the Colina Dorada property. The Copper-Gold Belt is approximately 90 km long and 20 km wide and trends through the Colina Dorada property on strike with the well known Tambo Grande deposits, which are located southwest of Colina Dorada.
The Colina Dorada property shares similar geology with Bolsa del Diablo, consisting of epithermal veins and stockworks in volcanic and minor sedimentary rocks of the Lancones Formation. These rocks have been intruded by plugs and stocks of granodiorite. Younger felsic dikes cut the granodiorites. Numerous itinerant miners - known as "informales" - are working in the Colina Dorada area, with high grade oxidized gold ore being produced and hauled in bags to small local processing mills.
The exploration program will consist of systematic geological mapping, prospecting and sampling over the property position, which covers an area of approximately 6,600 hectares. The program will be completed by staff geologists from Century Peru's Lima office.
Ross Burns, Vice President of Exploration for Century Mining, said, "This is an exciting exploration property that is surrounded on three sides by known deposits or high grade showings. Given the success of Plexmar's exploration program we have decided to focus attention on the Colina Dorada property and commence field work."
Margaret M. Kent, Chairman, President & C.E.O.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and as amended in Section 27E of the 1934 Act.
To view the map accompanying this press release please click on the following link: ccnmatthews.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
biz.yahoo.com
Don't know if the above means that they put GC on the
back burner or not.
Postion:
125,000 shares
regards,
John |
