Canwealth Minerals Corporation announces primary development for Highland Gold property
NEW YORK AND MONTREAL, Jan. 24, 2012 /PRNewswire/ – Canwealth Minerals
Corporation and partner ICBS Ltd., (OTCPK: ICBT),) is pleased to announce its upcoming assay sample program scheduled
for early spring 2012, on its Highland Gold property. A complete
geophysics and geochemistry tests will be performed to determine the
length and width of the mineralized zone. The assay sample program will
be based on a 100m grid. Drilling will follow immediately after the
assay results are received from AGAT Laboratories. The assays will be
performed using a standard fire assay with a 30-gram aliquot.
The Highland Gold property falls in the highly favourable orogenic
mineralized zone report based on a February 2006 assessment by the
Ministry of Natural Resources for Quebec. Over the past 2 years the
government has documented every mineralized orogenic zone also known as
epithermal or mesodermal veins. Veins of this type, range in thickness
from a few centimetres to four meters and they can be several hundred
meters long and extend to depths in excess of 5km. Mineralization
commonly occurs in shoots within the vein structures. Based on
historical production gold grades have been in the range of 10.0-17.1
The Highland Gold property is located in the Townships of Poirier and
Dalet approx. 78 km north of Amos Quebec in the prolific Abitibi
Greenstone Belt. The claim is 100% owned by Canwealth Minerals
Corporation. It is comprised of 40 claim cells totalling 2248 hectares
or 5555 acres. The claim area includes a mountain range 4.8km by 2.1km
with an elevation of 448 m of unexplored area. The 40 claim cells are
located well within the Abitibi Green Stone belt zone of the Grenville
province. This orogenic geological structure is considered a highly
favourable site for the exploration of gold and copper.
“The continuity of this mineralized zone has been well established based
on historical production we are confident that we will achieve the same
results as we delineate this mineral deposit. It will provide us with
greater knowledge and understanding to unlock the potential value of
Highland Gold.” Said Canwealth President Kelly Taylor.
The company’s current strategic direction is to seek out properties
known to have high mineral values for Gold, Silver, Copper, PGE and
REE, (rare earth elements), which will lead rapidly to the advanced
exploration and development stages.
ICBS is providing management and project funding.
Legal Notice Regarding Forward-Looking Statements:
Safe Harbour: This press release contains forward-looking information
within the meaning of section 27A of the Securities Act of 1933 and
section 21E of the Securities Exchange Act of 1934 and is subject to
the Safe Harbour created by those sections. This material contains
statements about expected future events and/or financial results that
are forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual results,
performance or achievements of ICBS Limited, to be materially different
from the statements made herein.
SOURCE Canwealth Minerals Corporation