Business
Canwealth Minerals Corporation commences drilling program.
Canwealth Minerals Corporation commences drilling program..
About this update from Icbs Ltd
[{"type":"text","content":"New York, Montreal, August 31, 2011– Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT),) announced today that it has commence the first of three drilling programs. The first drilling site will be Golden Ridge The company intends to be moving the equipment up to this first drilling site, on September 6th.,The drilling program is expected to take two weeks to complete at each of the sites. Shining Star will follow, along with Lake View which will complete this year’s program for the far north properties. If the weather holds,, the company is expected to attempt to drill at Shadow Mountain which is located further south. The company is now in the process of completing phase 3 for the deep exploration of holdings and other strategic locations in Northern Quebec. Core drilling is expected to continue through September to November, weather permitting, with assay and geology reports expected in late fall. Following those reports, the company will outline the claim locations for further development in early spring of 2012.The Golden Ridge property is located in the Townships of Languedoc and Disson approx. 52 km northwest of Amos Quebec in the prolific Abitibi Greenstone Belt. The claim is 100% owned by Canwealth Minerals Corporation. It is comprised of 4 claim cells totaling 227 hectares or 560 acres. The 4 claim cells are located well within the Abitibi Green Stone belt zone of the Grenville province. This orogenic geological structure is considered a highly favorable site for exploration of gold and copper. Recent chip sample assay results showed .40 gram per/ton Gold and 85.3 ppm Copper. The Shining Star project is located in the Township of Sainte-Dominique-du-Rosaire, north of Amos Quebec in the prolific Abitibi Greenstone Belt. The Shining Star claim is 100% owned by Canwealth Minerals Corporation. It is comprised of 24 claim cells totaling 1440 hectares or 3560 acres. The 24 claim cells are located well within the Abitibi Green Stone belt zone of the Grenville orogeny. This geological formation is considered a highly favorable site for exploration for gold, silver, copper, nickel and PGE ( platinum group elements ). The Lake View gold project is located in the Regional county of Abitibi 55km northwest of Amos Quebec in the prolific Abitibi Greensto...