VANCOUVER, BC, April 3 /CNW Telbec/ - Continuum Resources Ltd. (TSX-V:
CNU) is pleased to announce the start of an aggressive diamond drill program
at the San Jose silver-gold deposit located in Oaxaca, Mexico. San Jose is
being explored and developed under a joint venture between Continuum Resources
Ltd. (24%) and Fortuna Silver Mines Inc. (76%). The drill program follows on a
very positive resource calculation carried out after the completion of the
2006 drill program which has proven San Jose to be a significant silver-gold
resource with much upside on the deposit, and district scales.
The joint venture expects to drill over 20,000 meters of core during the
course of the year. Two surface drill rigs are currently working on site and a
third rig is expected in the coming weeks. Underground drilling is also
planned to start in the near future.
The drill program has, as its objectives:
- Expand the size of the existing resource in the Trinidad zone, which
remains open in two directions. In a previous press release (see press
release dated March 12, 2007) the following resource was reported based
on drilling to that time:
Indicated Mineral Resources: 1.47 million tonnes grading
262.6 g/t Ag + 2.19 g/t Au containing
17.7 million Ag equivalent oz
Inferred Mineral Resources: 3.9 million tonnes grading 260.6 g/t Ag
+ 2.57 g/t Au containing
49.1 million Ag equivalent oz
- In-fill drilling of the Trinidad zone to increase the size of the
measured and indicated resource;
- Continue exploring and drill testing over two kilometers of vein
structure along the longitudinal extent of the mineralized system
within the joint venture property.
In addition to the drill program focused on San Jose's Trinidad ore
shoot, and the concurrent drill testing to discover other, associated ore
shoots in the San Jose deposit, the joint venture will now begin exploring its
large land package in the San Jose area. Field crews are now conducting
geological mapping and prospecting, and geochemical sampling on the
30,000 hectare Monte Alban II concession which holds multiple untested
exploration targets. Monte Alban II covers a large area around the San Jose
claims that host the Trinidad zone and vein system.
Concurrent with the exploration programs the joint venture is advancing
with engineering design, mine planning and mine contractor selection for the
underground development that is scheduled to start in the second quarter of
Lawrence Dick, Ph.D., P.Geo., Vice President of Exploration for Continuum
states " We are very excited about launching this aggressive program which
includes advanced exploration activities such as infill drilling, and also
pre-development activities such as underground work, towards making San Jose a
significant gold and silver producer in an area of excellent infrastructure.
These activities, combined with a more regional approach to exploring our
large landholdings surrounding San Jose, bode well not just for the success of
the project, but also for providing our shareholders with a flow of
exploration results throughout the coming year."
The Qualified Person for this project, under the definition established
by National Instrument 43-101, is Lawrence Dick, Ph.D., P.Geo., Vice President
Exploration for Continuum Resources Ltd. Geochemical assays are carried out by
ALS Chemex in North Vancouver, B.C.
Continuum Resources Ltd is a gold-silver exploration company who's
principal focus is the discovery and definition of gold and silver-bearing,
epithermal deposits in the state of Oaxaca, in southern Mexico. The Company's
other major asset is the Natividad gold-silver deposit, where underground
drilling and tunneling, and surface exploration are currently being carried
out. For more information please visit our web site at
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD,
"Lawrence A. Dick"
Lawrence A. Dick, Ph.D., P.Geo.
Vice President Exploration and Director
Continuum Resources Ltd.
For further information:
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