NEW YORK AND MONTREAL, Sept. 17, 2012 /CNW Telbec/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT),) is pleased to announce the second set of assay results for the Highland Gold property received Sept 12, 2012. As expected the assay results are consistent with previous results of Aug 22, 2012. Based on these results a further expansion of the grab sample area has been planned to the east and south of "on surface" grab samples # 006HG .005 Gold, #007HG .006 Gold and # 024HG .011Gold. This includes trace amounts of palladium and platinum. The work will be performed within the next 3 weeks with a standard geophysical and lithology study of the out croppings in the surrounding area. The work will give us a better understanding of the expanded area for its mineralization and to determine the surface geometry for a more defined multi hole drill target campaign as defined under National instrument 43-101.
As per the Minister of Natural Resources of Quebec assessment report of February 2006. The Highland Gold property assay results support these findings and indicates the claim sits on a highly favourable orogenic gold zone.
As noted, over the past 2 years it has been documented that every available mineralized orogenic gold zone of this type also known as epithermal or mesothermal veins have been staked by other high profile gold mining companies. Veins of this type can range in thickness from a few centimetres to four meters. These vein structures 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 g/t.
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 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, Platinum and Palladium.
The decision to stake the Highland Gold property's location is apparent and is further supported by the close proximity of some of the biggest names in the mining industry. Also our decision was based on the continuity of this mineralized zone which has been well established based on historical production. We are confident that with our latest assay results we will achieve our goals to bring the Highland Gold property into full production in the near future.
The company's current strategic direction is to seek out properties/claims 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
For further information:
SOURCE: Canwealth Minerals Corporation - ICBS Limited.
CONTACT Kelly Taylor, President & CEO