Mar 22, 2013

Canadian mining firm eyes gold in central Myanmar

Canada-based Centurion Minerals Ltd has signed a memorandum of understanding with Myanmar’s Eternal Gold Mining Company to explore and develop a gold project in Sagaing Region’s Ba Mauk area, it said in a press release.

"We are very pleased to have the opportunity to partner with an experienced, successful local Myanmar mining group, in this prospective gold project," Centurian chairman Alfred Lenarciak said.

Centurion will act as operator and oversee the exploration activities and assessment of the resource potential of the 22,000 acre Ba Mauk gold project, the company said.

It said that the project area is located in the northern tip of a volcano-plutonic belt containing the highest concentration of gold mines and prospects in Myanmar.

Centurian has two gold exploration projects in Indonesia. Its stock trades on the TSX Venture Exchange.

Source: Eleven Weekly Media