NEW YORK and MONTREAL, Feb. 21, 2012 /PRNewswire/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT ), announced today that it has filed mineral claims on 6 new sites in the James Bay area of Northern Quebec representing over 720 acres. The area shows concentrations of Gold and Copper.
Canwealth Minerals Corporation - is an exploration and mining company actively searching for gold and base metal ore deposits in Quebec. At the present time the company holds 7 Mining properties (248 Claim cells) in North Central Quebec's Abitibi region and South Western Quebec for a total of 14,508 hectares or 35,850 acres under management and is 100% owned by Canwealth Minerals Corp. The company's management team is made up of professionals with extensive exploration and production experience. The management is committed to building Canwealth Minerals Corporation into a profitable resource company by maximizing shareholder value through exploration of its high quality properties inQuebec.
The main thrust of the exploration will to be focused on sites that have a strong indication of precious minerals, such as Gold, Silver and Platinum.
The company is now in the process of its phase 3 for the deep exploration of holdings and other strategic locations in Northern Quebec. Core drilling is expected to commence late April 2012, weather permitting, with assay and geology reports expected by fall. Following those reports, the company will outline the claim locations for further development in early spring of 2013.
The company's current strategic direction is, to seek out properties/claims known to have high value mineral targets which will lead rapidly to the advanced exploration and development stages.
ICBS is providing management and project funding.
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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.