Continuum recommences Ag-Pb-Zn exploration at their 100% owned Tres-Hermanas Project, Oaxaca State, Mexico
September 19, 2007 - Vancouver, B.C.: Continuum Resources Ltd. (TSX-V: CNU) ("Continuum" or the "Company") is pleased to announce the recommencement of its Tres-Hermanas project located in the State of Oaxaca, Mexico. The Tres-Hermanas Project consists of three concessions totalling 3671 hectares within mountainous terrain, approximately 50 kilometres from the city of Oaxaca, Mexico. The Tres-Hermanas Project is 100% owned by Continuum.
The center of interest of this Project is the Tres-Hermanas Mine, which was exploited for silver on five levels by the Spanish prior to beginning of the Mexican War of Independence in 1810. Operations at the mine ceased due to that war. Since that time ASARCO conducted a brief review of the property in the 1990's, but no sustained exploration programs have been conducted on Tres-Hermanas since Continuum's acquisition of the Project in 2003. Silver, lead, zinc and minor molybdenum are the most common economic elements on the property existing as sulphides, while the gangue mineral assemblage includes pyrite, arsenopyrite and barite, with some minor quartz. Much of the sulphide material occurs as a fine, black intergrowth.
The five levels referred to above were completed on a polymetallic lead-zinc-silver vein. The vein itself ranges in width from 0.50 to 1.50 metres, and the current strike extent is approximately 500 metres. The total down dip extension is 150 metres, and the mineralization remains open to depth, and along strike.
Continuum's geological team are currently reviewing a report authored by James Wroth in 1926 titled "Report on the Las Hermanas Mine, San Sebastian, Rio Dulce, Oaxaca, Mexico", along with data collected in 2005 and 2006, and are formulating an exploration strategy that may expand the potential of this deposit along strike and down dip. In addition, the Company has begun the process of applying for required permits for road access and future drilling programs.
The Qualified Person for this project, under the definition established by National Instrument 43-101, is Dale Schultz, P.Geo., Vice President - Exploration for Continuum Resources Ltd. He is also the Managing Director and Chief Consultant of Buscore International Consulting. Mr. Schultz has reviewed the contents of this release for accuracy and compliance with regulatory requirements.
Background
Continuum is actively exploring 11 separate gold-silver projects in the state of Oaxaca, where Continuum has acquired approximately 200,000 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 Continuum Resources Ltd.
"Warren M. McIntyre"
Warren M. McIntyre, Corporate Secretary and Director
Renmark Financial Communications
Barry Mire : bmire@renmarkfinancial.com
Dan Symons : dsymons@renmarkfinancial.com
Tel. (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Continuum Resources Ltd.
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PRODUCER |
CODE : CNU.V |
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Continuum is a silver and gold producing company based in Canada. Continuum holds various exploration projects in Mexico. Its main asset in production is SAN JOSE PROJECT in Mexico and its main exploration properties are LA PREDILECTA, NINO PERDIDO, TALEA, LACHATAO, LACHIGUIRI, TERI, NATIVIDAD and TAVICHE in Mexico and RICHARDSON LAKE in Canada. Continuum is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.6 millions as of today (US$ 4.4 millions, € 3.5 millions). Its stock quote reached its highest recent level on December 31, 2003 at CA$ 1.20, and its lowest recent point on October 24, 2008 at CA$ 0.01. Continuum has 124 038 000 shares outstanding. |