TSX Venture-listed Centurion Minerals Ltd has executed a MoU with PT Sigma Mineral Exploration to acquire an 85% interest in three gold exploration concessions in Aceh Tengah regency, Aceh province.
The three projects are approximately 10,000 Ha in size and are located near to the south of East Asia Mineral's Miwah gold project. East Asia Minerals is also listed on TSX Venture.
As reported by MarketWire few hours ago, pursuant to the agreements Centurion shall manage all exploration activities, be responsible for license issuance costs and 100% of exploration expenditures and related costs through to feasibility study. Upon receipt of IUP mining claim licenses, completion of definitive agreements and regulatory approvals, Centurion intends to commence an active exploration program on the three projects.
Alfred Lenarciak, Centurion chairman has just completed discussions with the local authorities of Aceh Tengah Regency. They have expressed being pleased with the Company's initiatives to commence exploration on the most promising mineral prospects in the area.
Centurion and its local parner is also in the process to reactivate the Sable gold project, 15-km west of Miwah epithermal gold project.
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