NEW YORK and MONTREAL, Aug. 27, 2012 /PRNewswire/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT). Is pleased to announce the completion of its first phase sample program for the Highland Gold property. The program was completed on schedule with 25 on surface samples being taken during the month of July. A litho-logical study was performed. 25 targets were identified as a base to better understand the underlying geology for the selected area.
Fifteen selected samples were sent to AGAT Laboratories July 23, 2012 for analysis. Of the 15 samples 001Highland Gold assayed 005g of Gold ,1.02g of Silver, Sample 005HG .042g Gold and .005g Palladium and sample 018HG .034g Gold and .004g of Palladium. All samples contain base metal credits for aluminum, cobalt, chromium, copper, manganese and vanadium. The assay results are consistent with this type of VMS (volcanogenic massive sulfide) geology and the study supported the lithology for the region.
The remaining ten samples will be sent Aug 28, 2012. An updated sample program has been planned for September based on these latest results. The plan will include an expansion of the study area to better understand the lithology of the area.
Based on a Feb 2006 assessment in the region by the Minister of Natural Resources of Quebec, Canwealth Minerals assay results are consistent with the Ministers findings as being a highly favorable zone for gold, platinum and palladium.
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 with a total area of 5555 acres located well within the Abitibi Green Stone belt of the Grenville province. The claim area includes a mountain range 5.0km by 3.6km with an elevation of 448 m of physically unexplored area.
"The Highland Gold property is well positioned amongst some of the biggest names in the gold mining industry and is located within a few kilometers of several active gold mines in the region. We are confident that we will achieve the same results as we further study this mineral deposit." Said Kelly Taylor, President and CEO of Canwealth Minerals.
The company will continue to follow its plan to acquire properties/claims of known mineral potential for Gold, Silver, PGE, base metals and REE, (rare earth elements), which will lead rapidly to the advanced exploration and development stages.
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. The assay results are non NI 43-101 compliant.
SOURCE Canwealth Minerals Corporation