VANCOUVER, Feb. 28 /CNW Telbec/ - Dale Schultz, Vice President
Exploration of Continuum Resources Ltd. (TSXV:CNU) announces that the Company
has re-examined its concession holdings within Oaxaca and plans to increase
exploration activities on two gold projects located near the Company's 100%
owned Tres-Hermanas project. The two concessions in question are the 100%
owned Peras-Parian (75,000 ha) and Cuatro Venados (3,631 ha.) blocks. A map
illustrating the locations of these concessions can be viewed at
Both the Parian-Peras and Cuatro Venados concessions contain high-grade
gold mesothermal quartz veins hosted by Precambrian rocks, similar in
character to deposits hosted in the Precambrian rocks of Northern Manitoba /
North-Western Ontario. Grades returned from recognisant-level sampling of
these veins range from 5 to 45 g/t gold.
Peras-Parian (100% CNU) -75,000 ha.
This concession contains a number of historic mines (Cinco Senores, El
Culebron, El Manzanito, El Ocote, El Rescate, El Resurguimiento, El Rosario,
El Tirito, El Zopilote, La Cucharita, La Platera, La Soledad, Las Animas, and
Las Cucharitas) that date back to the colonial era prior to the Mexican War of
Independence. The most significant historic mine is the Oro del Carmen mine
located in the southern portion of the concession, approximately an hour's
drive from the Tres-Hermanas project. This property has seen recent production
in the mid 1990s, and some of the mine infrastructure is still in place (i.e.
ball mill, gravimetric table, and power line; see
www.continuumresources.com/powerpoint for photos). The vein of the Carmen mine
is hosted in east-west steeply dipping structures within gneissic lithologies,
having a strike extent of 500 metres, a down dip extent of over 300 metres,
with an average width of between 1.0 and 1.5 metres and open in all
directions. Historical grades reported from the Carmen mine are upwards of
128 grams per tonne Au. Recent sampling of the abandoned storage dumps by
Continuum staff has returned values of over 30 g/t Au.
Cuatro Venados (100% CNU) -3,631 ha.
Similar to Peras-Parian, Cuatro Venados contains a number of old colonial
workings (Santa Ines, Cata, La Cal, Poder de Dios, La Minta, Ruina, and
Zavaleta) that exploited a 4.0 km long structure that runs the length of the
concession, oriented at 020 degrees, and dipping near sub-vertical (see photos
at www.continuumresources.com/powerpoint). This concession block is located
approximately a one hour drive southwest from the city of Oaxaca, and these
historic workings contain veins that range in width from 1.0 metre to a
1.5 metres. Abandoned dump material from the colonial times have returned
values of 1.44 to 12.6 g/t Au and up to 1145 g/t Ag.
Currently the Company is mobilizing a prospecting and mapping crew to
commence more detailed work on these two concession blocks. Permitting for
diamond drilling will also commence immediately in order to have permits in
place by Q3 - 2008 for drilling.
Continuum is currently exploring 9 separate gold-silver projects in the
state of Oaxaca, comprising approximately 125,000 hectares. Continuum is also
24% joint venture partner with Fortuna Silver Mines Inc. (TSXV: FVI) on the
San Jose silver project, on which drilling continues to expand on the resource
estimate previously announced by the Company on March 12, 2007.
On Behalf of the Board of Directors of
Per: "Dale Schultz"
Dale Schultz, Vice President Exploration
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Renmark Financial Communications Inc.: Barry
Mire, firstname.lastname@example.org; Dan Symons: email@example.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com