CTG Centenario Gold Corp

Editor's Note: There is a photo associated with this release.

Global Minerals Ltd. (TSX VENTURE:CTG)(OTCBB:GMLFF) is pleased to announce that
it has received the initial operating permit for mining, milling and concentrate
production at its 100%-owned Strieborna high-grade silver/copper/antimony
project in Slovakia. The permits have been granted after approval of an
Environmental Impact Assessment and Plan of Operations reviewed by the
appropriate local authorities and made available for public comment. 


Bill Pincus, Global's CEO, said, "Since pumping out and refurbishing the mine,
this is our most critical achievement to date. The permits will allow us to
complete test mine studies for a full feasibility study and can eventually be
amended to allow the start-up of operations once the company has received a
tailings disposal permit."


Initial Permits Issued

Under the terms of the operating permit the Company may mine and concentrate up
to 85,000 tonnes of ore per year from underground operations. The permit
currently restricts mining to approximately 20m below the rehabilitated Level 6.
The Company has already applied for an amendment to allow mining to 10m above
Level 6. Global anticipates approval of the amendment by this summer at which
point it is likely to run a small test mine. This will allow for better
evaluation of mining conditions and to satisfy certain requirements of our
mining license.


The current permit does not provide for tailings disposal. The Company has
identified two alternative tailings management plans: a surface tailings
facility or the use of the tails as cemented backfill in the mining process. The
Company will apply for a tailings permit once the management plan is finalized.


Exploration Drifting Intersects 6.1-Meter Vein on Level 6

The Company is also pleased to report that the underground drifting (mining) on
Level 6 has recently intercepted a 6.1 m intersection of the Strieborna vein
that exhibits abundant tetrahedrite, the sulphide mineralization that contains
most of the silver, copper and antimony (see photos). The objective is to
investigate and collect a 500 tonne bulk sample of the vein on this upper level
that had never been previously explored underground. The bulk sample results
including assays and metallurgy will be used for the technical studies and the
future mine plans. 


Metallurgical Test Work Advances

The Company is also pleased to report that recent bench-scale leach tests to
evaluate the production of byproduct antimony from the Strieborna vein
concentrate indicate that antimony extractions of up to 99%, and mercury
extractions of up to 98% can be achieved through leaching. The process also
indicates that virtually all of the silver and copper remained in the residual
high grade concentrate for smelting. The mercury, dissolved into solution can be
effectively precipitated for safe disposal. The studies will continue in order
to define and cost-out the most efficient and economic process using these
techniques. 


About Strieborna 

Strieborna is a high-grade silver/copper/antimony vein deposit in an historic
mining district near the town of Roznava in eastern Slovakia. It has excellent
expansion potential over and above the already well-defined resource.
Significant infrastructure at site includes a working shaft and hoisting system,
extensive underground access through a series of drifts, crosscuts and tunnels
and associated surface facilities. 


QUALIFIED PERSONS: William Pincus., M.Sc., CPG and Chief Executive Officer for
Global Minerals Ltd. is the Qualified Person (QP) under NI 43-101 responsible
for this press release. He has verified the data in this news.


FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release
contains certain "forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward-looking statements and forward-looking
information are frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or "will" occur. 


FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking statements. These
factors include the inherent risks involved in the exploration and development
of mineral properties, the uncertainties involved in interpreting drilling
results and other geological data, fluctuating metal prices, the possibility of
project cost overruns or unanticipated costs and expenses, uncertainties
relating to the availability and costs of financing needed in the future and
other factors. The Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on forward-looking
statements.


Readers are advised that National Instrument 43-101 of the Canadian Securities
Administrators requires that each category of mineral reserves and mineral
resources be reported separately. Readers should refer to the continuous
disclosure documents filed by Global and available at www.sedar.com, for
detailed information, which is subject to the qualifications and notes set forth
therein.


The mineral resources are reported in accordance with Canadian Securities
Administrators' National Instrument 43-101 and have been estimated in conformity
with generally accepted CIM Estimation of Mineral Resource and Mineral Reserves
Best Practices Guidelines. Mineral resources are not mineral reserves and do not
have demonstrated economic viability. There is no certainty that all or any part
of the mineral resource will be converted into mineral reserve.


Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.


To view the photo showing massive tetrahedrite (black) in gangue of quartz
(white) and siderite (brown- yellow), click the following link:
http://media3.marketwire.com/docs/ctg_photo.jpg


FOR FURTHER INFORMATION PLEASE CONTACT: 
Global Minerals Ltd.
William Pincus
President and CEO
877.356.0674
info@globalminerals.com
www.globalminerals.com

Centenario Gold (TSXV:CTG)
Historical Stock Chart
From Nov 2024 to Dec 2024

Centenario Gold (TSXV:CTG)
Historical Stock Chart
From Dec 2023 to Dec 2024