Second Phase Exploration Program On Eden Property

VANCOUVER - Centenario Gold Corp. reported on the next phase exploration program on the Eden property located just north of Prime Mining Corp's Los Reyes project, near Cosala, Mexico. The geological team lead by Alain Charest and Hermilo Mendoza have been analyzing the recent drill data and reinterpreting all the geological information the company obtained on the Eden project over the past two years.

The geological information obtained from the maiden drilling program completed in February 2024, has greatly improved our understanding of the mineralized systems found on the Eden property. The lithological, mineralogical, alteration and structural characteristics and zoning patterns observed in the drill core represent an additional, and important, component to the evolving geological model that was based on previous exploration work.

During the last two months, the Centenario geological team has processed this new information and outlined several new targets to drill-test across the Eden property. For one, the northern structurally-controlled extension, and the upper and deeper portions of the Buenavista epithermal system have yet to be tested. There are also important drilling targets across the other sub-parallel mineralized structures, especially the La Provedora prospect, located 1.5 km east of Buenavista.

Ten of the eleven holes completed at Buenavista are spread across an area of 250 by 100 meters, just west of the old mine workings. Drill holes were located 65 to 150 meters E-SE of the N-NE trending high-grade Buenavista structure. The location and orientation of the drill holes were such that the upper and deeper portions of the east dipping epithermal system have yet to be tested.

The upper 100 meter portion of the Buenavista structure extends directly down dip from where the high grade Au and Ag surface sample as high as 239.9 g/t Au and 1390 g/t Ag were obtained. The drilling that was completed did not test the upper 100m of the Buenavista structure. The deeper portion of the Buenavista system, greater than 250 m downdip from the surface exposure, also remains untested. The presence of low temperature quartz textures and alteration minerals in the drill hole intersects, as deep as 250 meters, indicate that we are still in the upper level of the epithermal system and that zones of mineralization most probably also occur further down at depth.

The northern extension of the Buenavista corridor, especially up to the La Tramposa zone where the mineralized regional corridor expands to widths greater than 200 meters, represents another important drilling prospect. Two rock chip samples, 2 meters in width, that were collected at the La Tramposa zone, located 1.2 km north of the Buenavista old mine workings, returned grades of 1.3 g/t Au and 1.7 g/t Au g/t Au. Company geologists have planned additional drill holes across this zone.

Other specific, more conceptual drill targets, supported by the interpretation and/or correlation of the geophysical and soil geochemistry data, have also been identified. The geophysicist who wrote the IP/Resistivity geophysical survey report on the work program that was completed at Buenavista and La Provedora in 2021, also added a set of 8 proposed drill holes. These holes are based on his interpretation of the data.

The La Provedora and La Republicana prospects are located 1.5 km east of the La Paloma prospect, which sits at the southern end of the SE trending branch of the Buenavista Corridor. The mineralized structure at La Provedora has the same strike and dip orientation as Buenavista. Although very little of the structure outcrops at surface, there's an extensive underground mine working which is currently inaccessible due to the toxic accumulation of bat excrement.

Historically, local miners that used to work in the La Provedora mine in the 1980's claim that the vein material that was taken out at the time was rarely below 100 g/t Au, and 2 kilos Ag. The only information about the old mine working is a hand-drawn sketch from the 1990's, that shows the extent of the mine workings at La Provedora and the different access points. The geophysical survey completed over the La Provedora also highlights areas of interest for additional drillin.

More intriguing is the E-W trending, low angle structure, outcropping 300 m East of La Provedora, called La Republicana, a portion of which lies on the Eden Property and a portion of which lies on a claim that is not currently owned or optioned by Centenario, which hosts a completely different type of mineralized system. One rock sample collected by Centenario in the old working returned 136.8 g/t Au, 748 g/t Ag, and > 1% Cu and > than 10% Pb-Zn. What remains unanswered and very intriguing at this point is, what happens where these 2 different systems intersect?