Explorer to Drill Flagship Copper Project with 'Blockbuster Discovery Hole'

Au Report

Source: Peter Epstein for Streetwise Reports 12/01/2017

Peter Epstein, founder of Epstein Research, evaluates Centenera Mining Corp.’s Esperanza copper-gold porphyry project.

Centenera Mining Corp. (CT:TSX.V; CTMIF:OTCQX) is a 100% Argentina-focused junior mining company with attractive assets spanning copper (Cu), gold (Au) & lithium (Li), and a cheap valuation.

The 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).

The project is located in San Juan province in northwestern Argentina, 135 km north of the city of San Juan. 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.

Centenera has a great management, board & technical team for a company its size {66.6 million shares outstanding x C$0.20 = C$13.3 million market cap}. Drill permits are in hand, and drilling will start the first week of the new year.

The Esperanza drill program will investigate the potential for a bulk-tonnage copper-gold porphyry-style deposit. The company plans to initially drill four drill holes for ~2,000m, stepouts of at least 150m from known holes. Planned holes will aim to reach deeper than historical holes, to 500–600m.

Keith Henderson, president & CEO of Centenera commented in a recent press release,

“Previous drilling advanced the project significantly, demonstrating grade from surface and continuity at depth. The new drill program will investigate the tonnage potential of the deposit with holes planned to test deeper and stepping out approximately 150 metres from previous mineralized intersections.”

Esperanza (fka Huachi) Cu-Au project

In January 2017, Centenera signed a binding Letter of Intent granting it an option to earn a 100% interest (subject to a 2% NSR) in the Esperanza Copper-Gold project. The property consists of a central Cu-Au porphyry deposit and a peripheral epithermal Au system. On March 6, an NI 43-101 Technical Report was published.

Esperanza is in San Juan Province (second highest of nine ranked provinces; Source: Fraser Institute Mining Survey, 2017) in Northwestern Argentina. The project has been known for a long time, but it was only first drilled in 2006.

From 2005-2007, Cardero Resources conducted a modern, systematic exploration campaign focused on the porphyry mineralization. The program consisted of systematic rock sampling, detailed property scale mapping, an IP survey, and drilling (11 holes, 2,552m).

“Exploration programs completed by Cardero Resources from 2005–2007, and Kestrel, 2011–2012, greatly increased the understanding and potential of the property. Cardero’s was the first comprehensive modern exploration with an emphasis on finding and defining a porphyry copper deposit. Cardero was successful in identifying both widespread porphyry copper and low sulphidation epithermal gold style mineralization.” {Source: Page 51 …read more

Source:: The Gold Report