Centurion Minerals said Thursday it is accelerating its $5 million planned exploration activities in Aceh province, Northern Sumatra, Indonesia, with geological field crews fully mobilized and base camps already established at two gold prospect sites.
Geological mapping and geochemical surveying at the sites are well underway, the company said. The goal of the field work program is to advance the epithermal prospects to drilling stage by the first quarter of 2011.
At the Leuping gold prospect, multiple anamolies have been identified by historical exploration, including the Leuping high sulphidation epithermal gold prospect, which is located approximately 5 kilometres to the north-east of the Miwah epithermal gold discovery.
At the Lee Cuko gold prospect, results from historic ground exploration work within the license area completed during the 1990s identified several geochemical target areas including the Lee Cuko epithermal gold prospect, situated directly north of the Miwah epithermal gold discovery. Recently completed preliminary tests returned sample values up to 0.4 grams per tonne (g/t) Au.
Centurion Minerals is a Canada-based company focused on the procurement, exploration and development of gold projects in Aceh province, Northern Sumatra, Indonesia.
The company was up almost 2% to trade at $1.75 as of 12:21pm ET on Thursday.