NEW YORK and MONTREAL, June 6, 2011 /CNW Telbec/ - Canwealth Minerals
Corporation and partner ICBS Ltd., (OTCPK: ICBT), Are pleased to
announce phase three of grab sampling assay results were received for
the Shadow Mountain Project with encouraging results. The indicators
were high again in all 18 assay results for REE ( Rare Earth Elements),
Gold, Silver and base metals. After careful review of the past assay
results the company will proceed to the next phase of the exploration
of Shadow Mountain.
The company is expected to commence phase 1 drilling campaign that will
consist of a 60 hole program for a total of 5500 meters in selected
areas based on geophysical review to determine the best locations. Also
Management is pleased to announce the completion of additional rolling
stock and support equipment for greater access to the projects.
The Shadow Mountain claim is 100% owned by Canwealth Minerals
Corporation. It is comprised of 70 claim cells totaling 10378 acres.
The project is located well within a VMS (Volcanogenic massive
sulphide) zone of the Grenville orogeny and encompasses a massive
volcanic plug. This geological formation is considered a highly
favorable site for exploration for gold, silver, copper, nickel, PGE
(platinum group elements) and REE (rare earth elements).
Canwealth Minerals Corporation is a gold, silver and base metals
exploration company and has 189 registered claim cells with the
Ministre Resources Naturalle et de la Faune for a total 28,022 acres.
The company is expected to start exploration drilling of all its
projects this summer. The main thrust of the exploration will be
focused on locations based on grab sample assay results that have a
strong indication of precious and base metals such as Gold, Silver,
Copper and REE ( Rare Earth Elements ).
The company has remained on target for phase one of grab sampling on all
its projects and intends to continue to go to the next scheduled phases
leading up to a NI 43-101 report for all its projects by the fall.
The company's current strategic direction is, to seek out
properties/claims known to have high value mineral targets which will
lead rapidly to the advanced exploration and development stages.
ICBS will be 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 Inter Canadian Business Service
For further information:
SOURCE: Canwealth Minerals Corporation ,ICBS Limited.
CONTACT: Kelly Taylor, President & CEO