NEW YORK AND MONTREAL, May 10 /CNW Telbec/ - Canwealth Minerals
Corporation and partner ICBS Ltd., (OTCPK: ICBT), announced today that
its Shadow Mountain property in South Western Quebec in a highly
favourable VMS (Volcanogenic Massive Sulphide) type mineral deposit,
representing over 7200 acres, has received detail assay report on the
Rare Earth Elements. Positive results from AGAT Laboratories assay
office for substantial amounts of Cerium, Lanthanum and Neodymium Rare
Commercial applications of Cerium are numerous. They include catalysts,
additives to fuel to reduce emissions and to glass and enamels to
change their color. Cerium oxide is an important component of glass
polishing powders and phosphors used in screens and fluorescent lamps.
Lanthanum compounds have numerous applications as catalysts, additives
in glass, carbon lighting for studio lighting and projection, ignition
elements in lighters and torches, electron cathodes, scintillators, and
others. Lanthanum carbonate (La2(CO3)3) was approved as a medication against renal failure.
Neodymium magnet (also known as NdFeB, NIB, or Neo magnet), the most
widely-used type of rare-earth magnet, is a permanent magnet made from
an alloy of neodymium, iron, and boron to form the Nd2Fe14B tetragonal crystalline structure. Developed in 1982 by General Motors
and Sumitomo Special Metals, neodymium magnets are the strongest type
of permanent magnet made. They have replaced other types of magnet in
the many applications in modern products that require strong permanent
magnets, such as motors in cordless tools, hard disk drives, and
Canwealth Minerals Corporation is a gold and precious metal mining
company has registered claims with the Minister of Natural Resources in
While the preliminary samples are from the surface, this has confirmed
that core drilling is indicated as the next step to deep exploration of
The company is expected to start exploration drilling this coming
spring. The main thrust of the exploration will be to focus on sites
that have a strong indication of precious metal mineralization such as
Gold, Silver and Platinum.
The company's current strategic direction is to seek out properties or
claims known to have highly favourable mineralized 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 Canwealth Minerals Corporation
For further information:
SOURCE: Canwealth Minerals Corporation, ICBS Limited.
CONTACT: Kelly Taylor, President & CEO