VANCOUVER, July 9 /CNW Telbec/ - Continuum Resources Ltd (TSXV:CNU) is
pleased to announce that a technical report (the "Technical Report") entitled
"Technical Report on the Predilecta Mesothermal Gold-Silver Quartz Vein
Project, Oaxaca State, Mexico" has been filed on SEDAR (www.sedar.ca) in
compliance with National Instrument 43-101. The Technical Report outlines the
Company's plans to focus its future exploration activities on the Predilecta
project upon completion of its sale of certain mineral assets announced
June 20, 2008. In late May of 2008, the Company retained the services of David
M. Pollard, C.Geol. of Leics England to review all data collected by the
Company on the Predilecta project and prepare the Technical Report. The
Technical report includes results of the original mapping and tunnel sampling
conducted between 2003 and 2005, and diamond drilling completed in mid-2006.
The report contains the following highlights:
Predilecta contains mesothermal veins hosted by metamorphic lithologies
that yielded significant gold values. Mr. Pollard's sampling from underground
workings returned values of 17.6 and 16.6 g/t Au and 0.17 and 0.39 % Cu
respectfully. In addition, waste-dump material from these old workings
returned values of 6.8 g/t Au and 0.25% Cu.
The seven drill holes (791.3 metres) completed in 2006 returned
disappointing results, but Mr. Pollard noted several sections of un-sampled
core that contained base metal mineralization of galena, sphalerite, and
chalcopyrite with disseminated pyrite. Additional sampling of the core is
required to evaluate if the Predilecta veins contain any economic potential.
Mr. Pollard proposed a 2-phase work program. Phase one consists of
re-logging holes PR-1 to PR-7 (791.3 metres), 24 km of line cutting, soil
geochemical sampling, ground magnetics, I.P. survey, grid/tunnel mapping, and
surface trenching, all at an estimated cost of USD$270,000. Phase two consists
of drilling 1500 metres of drill core to test anomalies developed in Phase one
at an estimated cost of USD$370,000.
Continuum is 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 does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Continuum Resources Ltd.: Investor Relations:
(604) 629-0000; www.continuumresources.com