Canwealth Minerals Corporation's Shadow Mountain second assay report details substantial Rare Earth elements

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  Published in House and Home on Tuesday, May 10th 2011 at 18:40 GMT by Market Wire
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Canwealth Minerals Corporation's Shadow Mountain second assay report details substantial Rare Earth elements

NEW YORK AND MONTREAL, May 10 /PRNewswire/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT), announced today that its Shadow Mountain property in South Western Quebec in a highly favourable VMS (Volcanogenic Massive Sulphide) type mineral deposit, representing over 7200 acres, has received detail assay report on the Rare Earth Elements. Positive results from AGAT Laboratories assay office for substantial amounts of Cerium, Lanthanum and Neodymium Rare Earth elements.

Commercial applications of Cerium are numerous. They include catalysts, additives to fuel to reduce emissions and to glass and enamels to change their color. Cerium oxide is an important component of glass polishing powders and phosphors used in screens and fluorescent lamps.

Lanthanum compounds have numerous applications as catalysts, additives in glass, carbon lighting for studio lighting and projection, ignition elements in lighters and torches, electron cathodes, scintillators, and others. Lanthanum carbonate (La₂(CO₃)₃) was approved as a medication against renal failure.

Neodymium magnet (also known as NdFeB, NIB, or Neo magnet), the most widely-used type of rare-earth magnet, is a permanent magnet made from an alloy of neodymium, iron, and boron to form the Nd₂Fe₁₄B tetragonal crystalline structure. Developed in 1982 by General Motors and Sumitomo Special Metals, neodymium magnets are the strongest type of permanent magnet made. They have replaced other types of magnet in the many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives, and magnetic fasteners.

Canwealth Minerals Corporation is a gold and precious metal mining company has registered claims with the Minister of Natural Resources in Quebec

While the preliminary samples are from the surface, this has confirmed that core drilling is indicated as the next step to deep exploration of the site.

The company is expected to start exploration drilling this coming spring. The main thrust of the exploration will be to focus on sites that have a strong indication of precious metal mineralization such as Gold, Silver and Platinum.

The company's current strategic direction is to seek out properties or claims known to have highly favourable mineralized targets which will lead rapidly to the advanced exploration and development stages.

ICBS will be providing management and  project funding.

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.

SOURCE Canwealth Minerals Corporation