NEW YORK and MONTREAL, April 12, 2012 /PRNewswire/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT), is pleased to announce its upcoming assay sample program scheduled for spring 2012, on its Highland Gold property. A complete geophysics and geochemistry tests will be performed to determine the length and width of the mineralized zone. The assay sample program will be based on a 100m grid. Drilling will follow immediately after the assay results are received from AGAT Laboratories. The assays will be performed using a standard fire assay with a 30-gram aliquot.
The Highland Gold property falls in the highly favourable orogenic mineralized zone report based on a February 2006 assessment by the Ministry of Natural Resources for Quebec. Over the past 2 years the government has documented every mineralized orogenic zone also known as epithermal or mesodermal veins. Veins of this type, range in thickness from a few centimetres to four meters and they 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 and copper.
The continuity of this mineralized zone has been well established based on historical production we are confident that we will achieve the same results as we delineate this mineral deposit. It will provide us with greater knowledge and understanding to unlock the potential value of Highland Gold
The company's current strategic direction is to seek out properties 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