SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: July 16, 1996
Exact name of registrant
as specified in its charter:
CENTURION MINES CORPORATION
State or other jurisdiction
of Incorporation: Utah
Commission File No. 0-17048
I.R.S. Employer I.D. No. 87-0429204
Address of principal executive
offices including zip code:
331 South Rio Grande, Suite 201
Salt Lake City, Utah 84101
Registrant's telephone number,
including area code: 801-534-1120
-------------------- END OF PAGE 1 OF 3 ---------------------
ITEM 5. OTHER EVENTS
The Registrant, Centurion Mines Corporation,
today announced that BHP Minerals, a unit
of The Broken Hill Proprietary Company Ltd.
(NYSE: BHP) has exercised its option to form
a joint venture on the 'Little Bingham'
copper/gold mining property 70 miles southwest
from Salt Lake City, and 14 miles west from
Eureka, Utah (USA). The joint venture will
involve approximately 12,000 acres, and will
be directed towards exploration for a large
commercial porphyry type copper/gold deposit.
During the option period, which began in January,
1996, BHP performed extensive exploration, including
geochemical, geophysical and geologic surveys,
with favorable indications.
Under the terms of the joint venture, BHP may
elect to earn a 75% participating interest in the
project by paying all costs through completion of
a positive production feasibility study, with periodic
cash payments, over five years, to Centurion.
After completion of the feasibility study, Centurion
may choose to maintain a working interest by paying
25% of costs, or may convert to a 15% net profits
royalty interest with all costs being paid by BHP.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Index to Exhibits Required
by Item 601 of Regulation S-K.
Ex. No. Page Document Description
- ------------------------------------------------------
19.1 3 Report Announcing BHP Joint Venture,
disseminated July, 16, 1996, to stock-
holders and other parties.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: July 16, 1996
REGISTRANT:
CENTURION MINES CORPORATION
BY: /s/ C M Chavez
---------------------------
Carlos M. Chavez, Secretary
------------------ END OF PAGE 2 OF 3 -------------------
[COMPANY LOGO
AND
ADDRESS INFORMATION]
FOR IMMEDIATE RELEASE CONTACT: LaRoy Orr
JULY 16, 1996 801/534-1120
BHP MINERALS EXERCISES OPTION TO FORM
JOINT VENTURE WITH CENTURION
SALT LAKE CITY, UTAH. Centurion Mines Corporation (NASDAQ: CTMC) announced
today that BHP Minerals, a unit of The Broken Hill Proprietary Company Ltd.
(NYSE: BHP), has exercised its option to form a joint venture on the "Little
Bingham" copper/gold mining property 70 miles southwest from Salt Lake City,
and 14 miles west of Eureka, Utah (USA). The joint venture will include
12,000 acres, and will be directed towards exploration for a large commercial
porphyry type copper/gold deposit.
Under the terms of the joint venture BHP will have the option to earn a 75%
interest in the project by paying all costs through a positive production
feasibility study, with periodic cash payments to Centurion. After earn-in,
Centurion can maintain a working interest by paying 25% of costs, or may
convert to a 15% net profits royalty interest with all costs being paid by
BHP.
During an option period, which began in January 1996, BHP performed exploration,
including geochemical, geophysical, and geologic surveys. Centurion has been
advised that the results of this work are favorable.
BHP is one of the world's largest mining companies, the second largest copper
producer in the world, and is a major producer of gold, coal, iron ore, and
other minerals. Centurion Mines is one of the largest holders of mining
properties in the State of Utah (USA), and is in the business of exploration,
development, and mining of gold, silver, and copper.
###
Centurion stock quotations are reported daily in
The Wall Street Journal, NASDAQ Small Cap issues as CntMne
--------------------- END OF PAGE 3 OF 3 -----------------------
