Centurion Mines announces large increase in ore reserves at its OK copper deposit near Milford, Utah.SALT LAKE CITY--(BUSINESS WIRE)--May 31, 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 open pit proven and probable, copper/molybdenum, reserves of approximately 4.7 million tons with an average grade of .53% copper (cut-off grade of .20% copper) and .023% 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. plus additional gold and silver. These reserves were calculated from 91 closely spaced drill holes totaling more than 20,000 feet of drilling. The property, located within Centurion's South Utah Copper Project, also contains an estimated two million tons of stock-piled, previously mined ore adjacent to the OK Mine, with a grade of .4% copper. The total contained copper/molybdenum metal values exceed $105 million at current market prices. The deposit is open to expansion on four sides and at depth. Recent Centurion bulldozing, trenching, drilling, and sampling data confirm that copper mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones are much larger than previously identified. Drill and surface trench data within a broad zone 4,000 feet westerly and 2,500 feet easterly from the OK Mine, establish that 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 well beyond the present ore reserves. Surface sampling from bulldozer trenches into bedrock include copper values of 175 feet of .47%, 25 feet of .91%, and 25 feet of .52%. This deposit is believed to be highly commercial since oxide copper ore occurs near the surface, and is suitable for low cost open pit mining and solvent extraction/electro-winning (SX/EW) copper recovery, which permits a high purity marketable copper product to be produced on-site. Management is currently evaluating bringing this excellent ore deposit into production for its own account, and is also considering joint venture opportunities with various copper companies to operate the property. The South Utah Copper Project 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. , is situated on Centurion's privately owned lands 180 miles southwest from Salt Lake City, 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. . The property is readily accessible by state highways and county roads. Electrical power, acid, water, and a work force are locally available for low cost production. A press release made earlier today by Consolidated Royal Mines (Bulletin Board-CRYM), a 65% owned subsidiary of Centurion, announced the execution of a letter of intent to acquire Celebration Mining Company of Spokane, Wash. Celebration controls several significant silver properties, including the Crescent Mine in the historic Coeur d'Alene Coeur d'Alene, city, United States Coeur d'Alene (kûrdəlān`), city (1990 pop. 24,563), seat of Kootenai co., N Idaho, near the Wash. line; inc. 1907. mining district immediately adjacent to the Sunshine Mine. Past production from the Crescent Mine exceeded 25 million ounces of silver. Celebration's Vipont Mine, in Northern Utah, has previously produced over 3.5 million ounces of silver. Significant unmined silver resources remain in place on both properties. Centurion Mines is a significant holder of 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 issued CntMne. CONTACT: Centurion Mines Corp., Salt Lake City LaRoy Orr, 801/534-1120 |
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