Vancouver, British Columbia -- Centenera Mining Corporation ("Centenera" or the "Company") - (TSXV: CT, OTCQB: CTMIF), announces that it has filed on SEDAR a National Instrument 43-101 Technical Report entitled "Technical Report on the Huachi Property, San Juan Province, Argentina", dated March 6 2017 (the "Report") and authored by Discovery Consultants of Vernon, BC, Canada. The Report can be viewed on SEDAR and will be uploaded to the Company's website.
The Company also announces that a previously announced letter of intent (see the Company's new release dated January 23, 2017), whereby the Company was granted the option to acquire a 100% interest in the Huachi Copper-Gold Porphyry Deposit (the "Huachi Project"), subject to a 2% Net Smelter Royalty ("NSR") to be granted to the vendor, has been accepted for filing by the TSX Venture Exchange.
Huachi Project Highlights
The Huachi Project consists of a central copper-gold porphyry deposit with a peripheral epithermal gold system located to the east. Centenera will initially focus on exploration of the copper-gold porphyry deposit and the extensive open ground to the west, targeting a large-scale, bulk-tonnage copper-gold porphyry deposit. The copper-gold porphyry deposit has been tested with a total of 7 historical diamond drill holes (totalling 2,011 meters).
- All drillholes targeting porphyry style mineralization intersected copper-gold mineralization.
- Majority of drillholes terminated in mineralization and are open at depth.
- Several drillholes demonstrate increasing grade with depth.
- Mineralization is open in all directions, in particular to the west and north where porphyry style alteration is mapped at surface and untested by drilling.
Drilling highlights include:
|Drillhole||From (m)||To (m)||Interval (m)(1)||Copper (%)||Gold (g/t)||Copper Equivalent(2)|
1 True width is not known. 2.Copper equivalent = Copper grade % x (0.795 x gold grade g/t), where the conversion factor of 0.795 is calculated by comparing the value of 1 tonne of copper ore (at copper prices of $2.20/lb ($4,850.16/t)) to the value of 1 tonne of gold ore (at $1,200/oz ($38.58g/t)) and assuming 100% recovery.
Tyler Caswell, P.Geo., the Company's Exploration Manager and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr. Caswell is not independent of the Company, as he is an employee and holds incentive stock options.
On Behalf of the Board of Directors of
CENTENERA MINING CORPORATION
President & CEO
For further details on the Company readers are referred to the Company's website (www.centeneramining.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
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Neither 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 news release.
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs in respect of the Huachi Project and otherwise, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the successful negotiation and execution of a definitive option agreement for the Huachi Project, the discovery and delineation of mineral deposits/resources/reserves on the Project, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Huachi Project, including the geological mapping, prospecting and sampling program being proposed for the Huachi Project (the "Program"), actual results of exploration activities, including the Program, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital and the timing and availability of same on acceptable terms, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, for the Huachi Project acquisition, or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's Management Information Circular dated April 28, 2016, as amended, and as discussed in the annual management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein.