Centurion Minerals is one of the first movers in Myanmar and its Slate Belt and Bandi mineral exploration concession applications have just been accepted by the Myanmar (central government) Ministry of Mines. The company is initiating a property wide exploration reconnaissance program while it seeks approval from the regional government. The two concessions fall within the major gold and associated mineral belts that strike through central Myanmar. Numerous gold occurrences at varying stages of exploration have been noted within the belts, but few have been explored systematically using modern methodology.
The Slate Belt concession, is located south of Mandalay city, and is some 692 km2 in size. It is bordered by the Modi Taung gold mine in the south and the Lebyin gold and polymetallic mine in the east, both discovered by Ivanhoe Mines in the late 1990s to early 2000s. The Slate Belt concession was included in the area operated by Ivanhoe and historical exploration work yielded a number of gold prospects and anomalies within the concession boundaries.
The Bandi concession is located north of Mandalay city and is about 943 km2 in size. The area is flanked by two operating gold mines, one of which is the Phayaung Taung mine located to the south. The Bandi concession geology consists of granitic intrusions, marls, and other sedimentary rock types, all of which are cut by north-trending structures. Adjacent to the Bandi Concession, gold skarn deposits are reportedly controlled by these structures.
“Our technical team will be implementing a reconnaissance exploration program shortly in order to generate priority prospects and finalize mineral concession approvals. The team includes several geologists who have previously explored the prospective areas of central Myanmar,” stated David Tafel, Centurion CEO.
Myanmar’s exploration and mining permits are presently issued by the central Government and allow a mineral concession to be explored for up to five years followed by 25 years of production. Subject to receipt of all regulatory approvals, Centurion will hold an 80% interest in the Myanmar mineral concessions with 20% held by its Myanmar partner, Crown Minerals Co. The mineral concessions under application are road accessible and exploration activities can be carried out year round.