VANCOUVER, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- Centenera Mining Corporation (“Centenera” or the “Company”) - (TSXV:CT) (OTCQB:CTMIF) has received positive drill results from drill hole 18-ESP-027 at the Esperanza Copper-Gold Porphyry project. Drill hole 18-ESP-027 collared in mineralization and continued to drill mineralized rock to end of hole. Mineralization remains open at depth. Highlights include 451m grading 0.30% copper equivalent1, including 100m (10m to 110m) grading 0.42% copper equivalent1 (Figure 1 & 2, Table 1). In addition, surface chip sampling along a new road cut located to the south of drill hole 18-ESP-027 returned 82m grading 0.23% copper equivalent1, indicating that the mineralizing system continues at surface to the south, towards Target A, one of four priority drill targets at Esperanza. (Figures 1 & 2, Table 2).
“Our 2018 drill program at Esperanza has been successful in outlining additional mineralization and defining clear targets for future drill testing,” stated Keith Henderson, Centenera’s President & CEO. “The deposit remains open both laterally and at depth and the Company is currently in discussions with a number of potential joint venture partners to assess the potential for a large, bulk tonnage porphyry style deposit.”
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Esperanza Drill Program
The outcropping copper-gold porphyry mineralization at Esperanza was first drill-tested in 2006-2007 by 11 drill holes. The 2018 Esperanza drill program returned two drill holes with continuous mineralization from surface to end of hole; 387m in 18-ESP-025 and 451m in 18-ESP-027, with both holes open at depth. Notably, 18-ESP-025 was ranked third best copper drill intersection globally when compared to all copper exploration drill results from Q1 2018.
With all mineralized drill holes open laterally and at depth, an estimated additional 2,000m to 3,000m of drilling is necessary to test the existing four priority drill targets. A more extensive drill program would be required to fully assess the bulk tonnage potential of this porphyry style deposit and the Company is actively seeking a joint venture partner to advance the property. A number of companies have been reviewing exploration data and the process of running site visits is underway.
Table 1: Complete drill results for drill hole 18-ESP-027
| Drillhole | Azimuth | Dip | From (m) | To (m) | Interval (m) 1 | Copper (%) | Gold (g/t) | Copper Equivalent (%)2 |
| 18-ESP-027 | 285 | -65 | 0 | 451 | 451 | 0.21 | 0.12 | 0.30 |
| including | 10 | 110 | 100 | 0.29 | 0.16 | 0.42 | ||
| including | 86 | 110 | 24 | 0.43 | 0.12 | 0.52 | ||
Notes 1 True width is not known. 2 Copper equivalent = Copper grade % + (0.795 x gold grade g/t), where the conversion factor of 0.795 is calculated by comparing the value of copper $2.20/lb to the value of gold at $1,200/oz and assuming 100% recovery.
Table 2: Results from chip sampling of road cut, 2018
| Surface Sampling | From (m) | To (m) | Interval (m) 1 | Copper (%) | Gold (g/t) | Copper Equivalent (%)2 |
| ESPTR-015 | 0 | 82 | 82 | 0.09 | 0.18 | 0.23 |
Notes 1 True width is not known. 2 Copper equivalent = Copper grade % + (0.795 x gold grade g/t), where the conversion factor of 0.795 is calculated by comparing the value of copper $2.20/lb to the value of gold at $1,200/oz and assuming 100% recovery.
Quality Assurance / Quality Control
Drilling undertaken by Centenera in 2018 has been supervised by on site personnel at the project who rigorously collect and track samples, which are then sealed and shipped to SGS Minerals (“SGS”) for analysis. SGS's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision are independently controlled by company using blanks, control reference material and duplicate samples.
Qualified Person
Keith J. Henderson, P.Geo., is the Company's qualified person as defined by National Instrument 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Henderson is not independent of the Company, as he is an employee, a shareholder and holds incentive stock options.
About Centenera Mining Corporation
Centenera is a mineral resource company trading on the TSX Venture Exchange under the symbol CT and on the OTCQB exchange under the symbol CTMIF. The Company is focused 100% on mineral resource assets in Argentina. The Company intends to focus its 2018 exploration activities on drill-testing its flagship Esperanza copper-gold project.
Other assets include the El Quemado lithium pegmatite project in Salta Province and the Organullo gold project. The Organullo project has approximately 8,000 metres of historical drilling and assay results. Organullo has a geological target range from 19.8 million tonnes grading at 0.94 g/t gold (600,000 ounces) to 31.6 million tonnes grading 0.92 g/t gold (940,000 ounces) using a 0.5 g/t gold cut-off-grade. It should be noted that these potential exploration target quantities and grades are conceptual in nature, that insufficient exploration and geological modelling has been done to define a mineral resource, and that it is uncertain if further exploration will result in the delineation of a mineral resource.
On Behalf of the Board of Directors of
CENTENERA MINING CORPORATION
"Keith Henderson"
President & CEO
For further details on the Company readers are referred to the Company's web site (www.centeneramining.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson
Phone: 604-638-3456
E-mail: info@centeneramining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs in respect of the Project and otherwise, anticipated exploration program results from exploration activities, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the successful negotiation and execution of a definitive Option Agreement for the Project, the discovery and delineation of mineral deposits/resources/reserves on the Project, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Project, including the geological mapping, prospecting and sampling program being proposed for the Project (the "Program"), actual results of exploration activities, including the Program, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for the Property acquisition, or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's Management Information Circular (April 2016) and as discussed in the annual management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward looking information. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.