Cenit Corporation (CNT-TSXV)

CEOCFO-Members Login

September 30, 2011 Issue

The Most Powerful Name In Corporate News and Information

CURRENT ISSUE |  COVER ARCHIVES  |  INDEX  |  CONTACT  |  FINANCIALS |  SERVICES  | HOME PAGE

Cenit Corporation is a well-positioned copper exploration company with two key projects – the Coppercorp Project in Ontario and the Rivière Doré Project in Quebec. Although both projects are early stage copper exploration projects; the Coppercorp Project is in a past-producing copper mine area that has had minimal follow-up exploration activity and the Rivière Doré Project is in an area where there are indications of an ultramafic intrusive complex environment hosting copper, nickel and PGE’s.

Judy Baker
President and CEO
Judy Baker is the President and CEO of Cenit Corporation. Recently, Ms. Baker was a consultant for American Lithium Minerals and was responsible for acquiring the large Borate Hills boron lithium project in Nevada and having Japan Oil (JOGMEC) invest $4 million to advance the project through the pre-feasibility stage. From September 2007 to June 2009, Ms. Baker was the President and CEO, a Director and the founder of Canada Lithium Corp., formerly Black Pearl Minerals Consolidated. Ms. Baker was instrumental in restructuring the company debt and strategically positioning the company in lithium business; including acquiring the Quebec Lithium project and initiating lithium exploration in the Great Basin of the United States. Ms. Baker has 20 years of experience in the mining and mineral exploration sector including equity analysis, fund management, and exploration and mining company activity. Ms. Baker also serves on the board of directors of Abcourt Mines and Nemaska Exploration. Ms. Baker holds an Honours B.Sc. Geological Engineering in Mineral Resources Exploration from Queen’s University (1990) and an M.B.A. from the University of Western Ontario Business School (1995).

Company Profile:

Cenit Corporation is a Canadian-based exploration company focused on base metal exploration. The Company’s objective is to explore highly prospective base metal projects, particularly copper, in order to meet the increasing global demand.  The Company has two key exploration projects; the Coppercorp Project in Ontario and the Rivière Doré Project in Quebec.

Resources
Base Metals Exploration
(CNT-TSXV)

Cenit Corporation
2 Toronto Street, Suite 500
Toronto, ONT, M5C 2B6 Canada
Phone: 416-214-3270
 

Interview conducted by: Lynn Fosse, Senior Editor, CEOCFOinterviews.com, Published – September 30, 2011

CEOCFO: Ms. Baker, tell me about Cenit Corporation?

Ms. Baker: Cenit Corporation is a Canadian based copper exploration company. The company is a Tier 2 Resource Issuer that trades on the Toronto Venture Exchange under the symbol CNT.

CEOCFO: Is your background in mining?

Ms. Baker: I have a geology degree and an engineering degree and I have worked in the exploration and mining sector for twenty years.

CEOCFO: What are Cenit’s key projects?

Ms. Baker: Cenit Corp.’s two key projects are the Coppercorp Project in Ontario and the Rivière Doré Project in Quebec. The Coppercorp Project is a past-producing copper mine that operated in the late 1960’s and early 1970’s where Cenit Corp. and its joint venture partner, First Minerals Exploration Limited are looking for copper mineralization that has indications of economic viability. What is interesting about the project is that part of the property was closed to staking for thirty years. Since the property was re-opened to staking in 2002, there has been some exploration activity in the area on the project site that has identified a large conductive body at depth as well as drill intercept of 1.6% copper over 35 meters although the true width of the intercept was estimated at 17 meters.

Another interesting aspect about the Coppercorp Mine area, is that it is located on the Canadian side of the extension of the Keweenaw Peninsula. The Keweenaw Peninsula was a very prolific copper mining region in the United States in the 1800’s and early 1900’s and contributed to the wealth of some families, such as in the Guggenheims and Vanderbilts.

CEOCFO: Why has Coppercorp been unnoticed for so long?

Ms. Baker: The past-producing mine was closed to staking until 2002 because the mining operations were not rehabilitated. Therefore, the claims could not be staked for mineral exploration for 30 years since 1972 when the mine closed until it was reopened in 2002.

CEOCFO: What is happening there today?

Ms. Baker: Cenit has implemented an ongoing surface mapping and trenching program and commenced a drilling program in July of this summer. Cenit is looking at the extension of the past producing copper vein system on surface and at depth; as well as parallel vein systems identified. Cenit is also commencing follow-up geophysics on previously identified conductive bodies at depth to better target drill testing at depth.

CEOCFO: Would you tell us about your other project?

Ms. Baker: The second project of Cenit Corp is the Rivière Doré Project in Quebec, which is located 85 kilometers southeast of Val d’Or in Quebec. Cenit has acquired 100% of approximately 150 square kilometers of grassroots exploration ground in the area. The initial attraction to Rivière Doré was stream and lake sediment data for copper and nickel collected by a Quebec Ministry of Mines program. The stream and lake sediment data for both copper and nickel were in the top 1% of sediment data collected in the province of Quebec. Airborne geophysical surveys completed by the Quebec Ministry of Mines also identified significant structures and conductors that may be indicative of an ultramafic intrusive complex at depth.

Cenit Corporation also reviewed the results of other companies actively working in the area. Cartier Resources has been actively exploring in the area since 2010 and Copper One joint ventured on Cartier’s property in the Rivière Doré since early 2011.  The surface sampling and trench results from the ground program carried out by Copper One and Cartier Resources have returned significant values for copper, nickel and PGE’s.

CEOCFO: Will Cenit continue to hold that 100% or will you be looking for a joint partner there?

Ms. Baker: Cenit Corp just closed at $2.7 million financing. The plan is for Cenit Corp to hold 100% of the ground and advance an exploration program at Rivière Doré.

CEOCFO: Are there any particular challenges in copper that you might not find in some of the other metals?

Ms. Baker: In general, the market is optimistic on commodities. The world is seeing the industrialization of China, India, Brazil, and Russia, which is creating a huge demand for commodities as these countries continue to industrialize and modernize. As a result of the advancement of these countries, we see a strong off-take for copper on a go-forward basis.

CEOCFO: In closing, there are many companies in your industry to look at; why should investors pay attention to Cenit today?

Ms. Baker: Cenit has a market cap of less than $10 million dollars and it has two excellent projects in the past producing Coppercorp Mine, and the Rivière Doré copper, nickel, PGE exploration area. There is an indication that the company could be very successful in identifying economic copper mineralization; particularly given current copper prices and the outlook for demand.

disclaimers

Any reproduction or further distribution of this article without the express written consent of CEOCFOinterviews.com is prohibited.

Another interesting aspect about the Coppercorp Mine area, is that it is located on the Canadian side of the extension of the Keweenaw Peninsula. The Keweenaw Peninsula was a very prolific copper mining region in the United States in the 1800’s and early 1900’s and contributed to the wealth of some families, such as in the Guggenheims and Vanderbilts. - Judy Baker