Source: Streetwise Reports
March 1, 2018 (Investorideas.com Newswire) Road repairs exposed significant new mineralization at surface at a copper-gold project in Argentina that one analyst has called out for having a 'blockbuster discovery hole.'
After Centenera Mining Corp. (CT:TSX.V; CTMIF:OTCQX) received its mining permit for its Esperanza copper-gold project in San Juan province in Argentina last November, it upgraded 40 km of access roads. Heavy rains and flash flooding damaged the roads, and in reconstructing them, the company announced on Feb. 21 that the "required earthworks have exposed significant new mineralization at surface, expanding the previously known footprint of mineralization to the southeast."
According to Centenera, "the exposed mineralization is hosted in intensely altered rock interpreted to be part of the highly-prospective Canyon Stock which now appears to extend significantly further to the southeast than previously known." It noted that it will complete mapping and sampling over the next few weeks.
The company also announced that it has begun drilling the project. Seven holes drilled in 2006-2007 by Cardero Resource Corp. intersected what Centenera is calling "significant copper-gold mineralization," and noted the following highlights in its Feb. 21 news release:
Peter Epstein of Epstein Research wrote on Dec. 1, 2017, that Centenera Mining is a "100% Argentina-focused junior mining company with attractive assets spanning copper (Cu), gold (Au) & lithium (Li), and a cheap valuation."
He noted that the company's "most important asset to watch, at least in the short-term, is the Esperanza copper-gold porphyry project (formerly known as the Huachi project), an outcropping Cu-Au porphyry system with a blockbuster discovery hole that had a giant intersection of 353m grading 0.49% Cu Eq, (including 243m at 0.57% Cu Eq and 88m at 0.69% Cu Eq)."
"Esperanza is within 35 km of power lines and has year-round road access. It is located at elevations between 2,800m and 3,250m, low relative to other projects in the Andes. Exploration can be conducted year-round," Epstein noted.
Epstein also drew attention to the March 6, 2017, technical report, which stated, "Cardero was successful in identifying both widespread porphyry copper and low sulphidation epithermal gold style mineralization." (Source: Page 51 of Huachi Technical Report).
"Historical exploration," Epstein noted, "points to targets to be drilled in January that could provide evidence of a scale that attracts considerable attention."
"I believe Esperanza's valuation more than covers the entire market cap of the company. If true, that means investors today are getting all of Centenera Mining's other properties/projects for free," Epstein concluded.
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own shares of the following companies mentioned in this article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Centenera Mining Corp.
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