With plenty of gold opportunities that have tons of potential upside for investors, it can seem overwhelming trying to find the one that best fits your investment portfolio.
With that being said, Centurion Minerals Ltd. (TSXV:CTN, Forum) just might be the gold exploration company investors are looking for.
The Vancouver, BC-based company is focused on the 4,700-hectare Casa Berardi West Project in Northern Ontario and has exploration plans to compile all historical data and complete ground geophysics over priority targets and then initiate a drill program to cover identified targets.
In order to advance exploration, Centurion Minerals is initiating a non-brokered private placement financing of up to $750,000 at a price of $0.02 per unit. Each unit will consist of one common share and a one-half share purchase warrant. A full warrant will have a term of up to 24 months beginning on the closing date and will give the holder the ability to purchase one common share at $0.05 per share during the first year and at $0.10 during the second year.
At least 25 per cent of the proceeds will be used for property payments and additional exploration activities, with an additional 15 per cent being used for non-arm’s length payments. The balance will be used for working capital and general corporate activities.
Closing of the private placement will be subject to TSXV approval.
Company highlights:
- Historical exploration includes more than 70 RC drill holes returning encouraging results that include 18 samples greater than 1,000 ppb (1 g/t) gold and the highest returning 38,000 ppb (38g/t) gold;
- The Project is situated along structural corridors hosting world-class discoveries, operating mines, and significant past-producing operations;
- Nearby, historical production from Normetal Mines and the recent (Perron) gold discovery by Amex Exploration, which is undertaking one of the largest drilling campaigns in Canada and has returned results including 15.5 g/t gold over 15.8 meters; and
- Excellent access and infrastructure.
- Successful leadership team
The Casa Berardi West Project
The project’s three claim groups (Noseworthy, Newman and Hepburn) are strategically located northwest of Cochrane, Ontario, within the Harricana-Turgeon greenstone belt of the Abitibi Terrane.
According to an NI 43-101 report issued by the company, all three claim groups have had very little systematic exploration.
Each of the claim groups is proximal to regional crustal-scale deformation zones. The Newman claim group hosts part of the Mikwam River Fault. Meanwhile, the Noseworthy claim group sits north of the Casa Berardi Deformation Zone, integrally related to the Mikwam gold deposit of Aurelius Resources to the east and into Quebec, the Casa Berardi gold mine. The Hepburn claim group lies along an extension of rocks and structures believed to be related to the former Normetal VMS mine and, more recently, to the high-grade gold discovery at Perron by AMEX Exploration, both located just inside the Quebec-Ontario provincial border.
Because the property lies in the Abitibi sub-province, the structural and geological architecture of the Casa Berardi West Property is conducive to a variety of gold depositional environments similar in nature and significance to other gold-bearing deposits in Archean-aged greenstone belts hosted within the Abitibi sub-province.
The Harricana-Turgeon Belt consists of granitic intrusions, surrounded by felsic to mafic metavolcanic rocks, metasedimentary rocks and minor mafic to ultramafic intrusions. The Mistawak Batholith is the largest of the granitic intrusions and is composed of quartz monzonite and granodiorite.
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