CENTURION Minerals has initiated a phase 1 reconnaissance exploration program on its Slate Belt concession in central Myanmar. The program includes geological mapping, stream sediment geochemistry and evaluation of historical gold occurrences.
Centurion’s Myanmar concessions are near the city of Mandalay with Slate Belt to the south and Bandi to the north.
The objective of the phase 1 exploration program is to prioritize targets within the concession and, as part of the Myanmar permitting process, finalize the location of the Slate Belt concession boundaries.
The Slate Belt concession is south of Mandalay city and covers an area of about 692sqkm. The Modi Taung gold mine and the Lebyin gold-antimony mine are within a few kilometres south and east, respectively, of the Slate Belt concession boundaries.
The Modi Taung and Lebyin mines were discovered and evaluated by Ivanhoe Mines during the late 1990s and early 2000s during a phase of exploration which also included the discovery of a number of gold occurrences within the Slate Belt concession.
Centurion’s current program on the Slate Belt will include the exploration of geological and structural environments similar to those hosting the Modi Taung and Lebyin mines. The Slate Belt concession is road accessible and exploration activities can be carried out year round.
Myanmar’s exploration and mining permits are issued by the central Government and allow for a mineral concession to be explored for up to 5 years followed by a 25 year production period. Subject to receipt of all regulatory approvals, Centurion will hold an 80% interest in the concession with 20% held by its Myanmar partner, Crown Minerals Company.
Late last year Centurion’s Slate Belt and Bandi mineral exploration concession applications were accepted by the Myanmar Ministry of Mines.
The Bandi concession is north of Mandalay and is about 943sqkm in size. The area is flanked by two operating gold mines, one of which is the Phayaung Taung mine to the south. The Bandi concession geology consists of granitic intrusions, marls and other sedimentary rock types, all of which are cut by north-trending structures. Adjacent to the Bandi concession, gold skarn deposits are reportedly controlled by these structures.
The two concessions fall within the major gold and associated mineral belts that strike through central Myanmar. Numerous gold occurrences at varying stages of exploration have been noted within the belts, but few have been explored systematically using modern methodology.
Centurion Minerals is a Canadian-based company focused on the exploration and development of gold and other precious metal projects in South East Asia, including Indonesia as well as Myanmar.