Centurion charges on land acquisition

Centurion Minerals (CTN-V) is taking a stake in some desirable real estate in Indonesia and the market rallied around the company’s move.

On May 4 the Vancouver-based company announced two agreements that will give it an 80% interest in the Banda Raya and Halimon Properties in Aceh Province of Sumatra in Indonesia.

The news sent the company’s shares up 21% or 33¢ to $1.89 on 414,000 shares traded in Toronto.

The market’s positive response has much to do with the two 100 sq. km properties being located adjacent and north of East Asia Minerals’ (EAS-V) Miwah discovery. East Asia does not yet have a resource estimate for Miwah but has recently assayed strong intercepts from the zone.

Centurion says historical exploration was done on the area during the 1990’s but was limited to mapping, targeting, surface drainage sampling and follow-up reconnaissance.

Still, Centurion says the results from the work outlined a structural corridor prospective for epithermal – porphyry style mineralization between the main Miwah prospect and the Peut Sague Volcano, which is 8 km to the north of Miwah.

The company says technical reports from the mid-1990’s said it was possible that the Peut Sague Volcano was the source of hydrothermal fluids that altered and mineralized the structures at the Miwah prospect and could also therefore be responsible for mineralization at other prospects within the structural corridor.

Centurion’s geological team is headed by Dylan Jeffriess, a geologist with over 12 years of mineral exploration experience in epithermal gold and porphyry gold and copper deposits in the Australasia region as well as in Latin America, China and Sweden.

Jeffriess has worked with Goldfields Australasia, Minera Goldfields, and Rio Tinto Exploration Peru.