Centrasia Intersects 126.3 Metres of 0.34% Nickel From Surface, Including 6 Metres of 0.72% Nickel
29 February 2008 - 2:25AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: CTM)(OTCBB:
CTMHF)(FRANKFURT: C8M) announces additional results from the
ongoing, infill drill program at its 100% owned, Souker
Nickel-Copper project ("Souker") in the Kola Peninsula of
northwestern Russia. As of February 15, 2008, a total of 7,277
metres of drilling has been completed in 58 drill holes.
Due to a late freeze up, drill rigs could not be set up on a
swamp covered portion of the central deposit area until the end of
January, 2008. Three of the final six holes planned for this area
have now been completed and the fourth hole is in progress. A
second rig has been mobilized to the property to expedite the
completion of the final drill holes and to initiate the
geotechnical drilling program. The NI43-101 independent resource
estimate being conducted by SRK Consulting "SRK" is well underway
and once all final drill assay results have been received, the
resource estimate and accompanying report will be finalized. Once
the new resource estimate for Souker is in hand, the Company will
immediately proceed with a Scoping Study.
President and CEO Douglas Turnbull states "we continue to see
great continuity in the mineralization and higher nickel grades in
the central portion of the deposit. The last few drill holes from
this part of the deposit will give us a good indication of the down
dip extent of the higher nickel grades that we have encountered
once again in hole CP07-46."
The mineralized intervals reported below continue to be
associated with varying degrees of disseminated to semi-massive
sulphide mineralization (pentlandite, chalcopyrite, and pyrrhotite)
within layered, medium to coarse grained peridotite and pyroxenite.
The mineralized intervals reported below continue to demonstrate
the bulk tonnage target potential that would be amenable to open
pit mining. The hosting stratigraphy dips variably to the south and
although holes have been oriented to intersect the mineralized
horizon as optimally as possible, the intervals reported below may
not represent true width. The holes were not drilled in numerical
order. See attached map for drill hole collar locations. (To view
the map, please click the following link:
http://media3.marketwire.com/docs/ctm0228.pdf)
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Drill hole From (m) To (m) Interval (m) % Ni % Cu
-----------------------------------------------------------------
CP07-28 1.8 186.4 184.6 0.27 0.04
-----------------------------------------------------------------
CP07-46 11.7 138 126.3 0.34 0.07
-----------------------------------------------------------------
including 93 120 27 0.52 0.02
-----------------------------------------------------------------
including 99 105 6 0.72 0.02
-----------------------------------------------------------------
CP07-70 0 25.1 25.1 0.18 0.02
-----------------------------------------------------------------
CP07-73 59 108.3 49.3 0.28 0.06
-----------------------------------------------------------------
including 100 107.7 7.7 0.45 0.18
-----------------------------------------------------------------
CP07-74 46 82 36 0.30 0.10
-----------------------------------------------------------------
including 71 82 11 0.49 0.24
-----------------------------------------------------------------
CP07-77 23 38 15 0.22 0.04
-----------------------------------------------------------------
49 54 5 0.21 0.02
-----------------------------------------------------------------
59 83 24 0.23 0.05
-----------------------------------------------------------------
With the exception of drill hole CP07-70, all principal
intervals reported were selected using a Ni cut off grade of 0.20%
Ni. The assay procedure used is a total acid digestion of the
sample with analysis of the resulting solution by AA. This
procedure yields a total Ni value for each sample. The 2007 drill
program was initially laid out to achieve a maximum 100 metre by
100 metre ore intercept spacing in order to verify and upgrade the
historic Soviet resource estimate from a C2 to C1 category (See May
14, 2007 Press Release). The 46 holes completed to date, range from
50 metres to 287.7 metres in depth, for a total of 6,033 metres.
The drill data from the 2007 drill campaign will also be used to
convert the historic Soviet resource into a NI43-101 compliant
resource. All drill data to date from the Souker Deposit is being
currently modeled in house and statistics from analytical results
will be used to determine what intercept spacing will be required
for classifying JORC ("Australasian Joint Ore Reserves Committee")
defined resource categories.
All of the 2007 and 2008 drilling is being completed with NQ
sized core using a Longyear LF 70 drill rig. Recoveries to date
have been excellent. The drill core is being logged, photographed,
sawn, sampled, and core samples are being prepared at the Central
Kola Expedition laboratory in Monchegorsk. Assaying is being
completed by the Kola Geological Information Laboratory Centre in
Apatity. This lab is certified under GOST R ISO/MEK 17025-2000, the
VIMS Institute in Moscow and is subject to annual inspections. A
full QA/QC program has been initiated on the Souker project and
check sample analyses are being performed by Alex Stewart Geo
Analytical Laboratory in Moscow. All of Centrasia's exploration
programs are carried out under the supervision of the Bill Tafuri,
P.Geol., the Company's Vice President of Exploration and a
"Qualified Person" for the purposes of NI 43-101.
Centrasia Mining Corp.'s headquarters is in Vancouver, Canada,
with exploration offices in Kyrgyzstan, Russia and Kazakhstan. The
company is actively engaged in the exploration and acquisition of
precious and base metal projects in Russia and Central Asia.
Centrasia is listed for trading on the TSX Venture Exchange under
the symbol "CTM", on the Frankfurt Stock Exchange under the symbol
"C8M" and on the OTCBB under the symbol "CTMHF".
To find out more about Centrasia Mining Corp., please visit the
company website at www.centrasiamining.com.
On behalf of the Board of Directors of CENTRASIA MINING
CORP.
Douglas Turnbull, President & C.E.O.
Forward Looking Statements. This Company Press Release contains
certain "forward-looking" statements and information relating to
the Company that are based on the beliefs of the Company's
management as well as assumptions made by and information currently
available to the Company's management. Such statements reflect the
current risks, uncertainties and assumptions related to certain
factors including, without limitations, competitive factors,
general economic conditions, customer relations, relationships with
vendors and strategic partners, the interest rate environment,
governmental regulation and supervision, seasonality, technological
change, changes in industry practices, and one-time events. Should
any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual results
may vary materially from those described herein.
The TSX Venture Exchange does not accept responsibility for the
adequacy or the accuracy of this release.
Contacts: Centrasia Mining Corp. Douglas Turnbull President
& C.E.O. (604) 688-4110 (604) 688-4169 (FAX) Website:
www.centrasiamining.com
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