Centurion Mines announces commercial copper discovery near Milford, Utah.SALT LAKE CITY--(BUSINESS WIRE)--Feb. 22, 1995--Spenst Hansen, chief executive officer of Centurion Mines Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTMC CTMC Canadian Tobacco Manufacturers' Council CTMC Continuous Time Markov Chain CTMC Classical Trajectory Monte Carlo CTMC Central Texas Medical Center (San Marcos, Texas) CTMC Communication Theory Mini-Conference ), announced Wednesday that assay results have been received from the recent drilling program near Milford, Utah Milford is a city in Beaver County, Utah, United States. The population was 1,451 at the 2000 census. Milford Flat Wildfire
Lightning caused a massive wildfire to start near Milford at 3:45 p.m. . Thirty-five exploratory holes totalling 15,240 feet, have been drilled since Nov. 20, 1994, on Centurion's South Utah Copper property, which includes the historic OK open pit copper mine. The best intercept was in Drill Hole COK-23 with 230 feet of .979% copper and .029% molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. beginning at the surface. This deposit is believed to be highly commercial since copper mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. occurs near the surface, and is suitable for low cost, open pit mining and SX/EW copper recovery. A copper resource of 3.5 million tons containing 31 million pounds of copper (average grade of .436% copper), plus 1.6 million pounds molybdenum (average grade of .023% molybdenum) was calculated by Centurion's staff utilizing the polygon ore reserve computer program (cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, grade .2% copper) provided by Pincock, Allen & Holt Inc., a Colorado-based consulting engineering firm. The gross value of contained metals in this initial 3.5 million tons is $66 million at present prices. The copper equivalent grade is .629%. Copper mineralization is visible in surface rock exposures over a wide area. The recent close spaced drilling program has tested only about 20 acres of the total 4,000 acre property. The deposit remains open for expansion in all directions. Low level gold and silver mineralization occurs at the surface and in drill cuttings Drill cuttings typically refer to any solids removed from a wellbore while drilling. The term specifically refers to shale cuttings generated when drilling petroleum wells, and is usually removed by circulating the drilling fluid over shale shakers. . Drill hole COK-35 is situated 3,800 feet west of the OK Mine site where the remaining holes have been drilled. The copper and molybdenum mineralization in this hole suggests that the deposit is much larger than originally identified. The chart below presents final assay results of significant intercepts from the completed drilling program: -0- Drill Hole Intercept Thickness Average % Average % Number (Feet) (Feet) Copper Molybdenum ---------- --------- --------- --------- ---------- COK-26(a) 150-280 130 1.342 0.032 COK-23(a) 0-230 230 0.979 0.029 COK-28(a) 0-100 100 0.783 0.006 COK-27(a) 0-280 280 0.642 0.094 COK-33(a) 10-275 265 0.555 0.044 COK-22(a) 0-300 300 0.495 0.019 COK-08(a) 210-450 240 0.343 0.092 COK-21 50-210 160 0.324 0.020 COK-31(a) 260-420 160 0.312 0.011 COK-09(a) 110-350 240 0.309 0.003 COK-32(a) 260-370 110 0.304 0.107 COK-35(a) 220-260 40 0.276 0.001 (a) Bottomed in copper mineralization. The South Utah Copper project is situated primarily on privately-owned lands approximately 200 miles southwest from Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , along the main line of the Union Pacific Railroad Union Pacific Railroad, transportation company chartered (1862) by Congress to build part of the nation's first transcontinental railroad line. Under terms of the Pacific Railroads Act, the Union Pacific was authorized to build a line westward from Omaha, Nebr. . Highways, power, water, and a work force are locally available. Centurion is discussing business arrangements for the development of this property with several major mining companies. Centurion Mines is a significant holder of copper and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. mining properties in the state of Utah (U.S.A.). Centurion is engaged in the business of exploration, development, and mining of gold, silver, copper, and other metals. -0- NOTE TO EDITORS: Centurion stock quotations are reported daily in The Wall Street Journal, NASDAQ Small-Cap Issue, code "CntMne." CONTACT: Centurion Mines Corp., Salt Lake City Barry F. Katona, 801/534-1120 |
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