Underground Drilling at Natividad Intersects High-grade Gold and Silver on Level 6:
2.5 meters grading 17.09 gpt Gold and 1.16 kilos per tonne Silver
Vancouver, British Columbia, April 11, 2007: Continuum Resources Ltd (TSXV: CNU) is pleased to announce results from underground drill hole BCN-18, drilled from Level 6 of the historically-producing Natividad gold-silver deposit. These are amongst the highest grade gold and silver assays obtained in the drilling program so far.
Hole BCN-18 was drilled at a -15 degree angle from the horizontal, and intersected the San Ignacio vein at a nearly perpendicular angle.
Hole No. |
From (m) |
To (m) |
Length (m) |
Gold (gpt) |
Silver (gpt) |
BCN-18 |
246.40 |
254.80 |
8.40 |
5.44 |
365 |
Includes |
246.40 |
247.10 |
0.70 |
1.71 |
134 |
Includes |
251.40 |
253.90 |
2.50 |
17.09 |
1,165 |
Includes |
251.40 |
252.50 |
1.10 |
33.76 |
2,508 |
Includes |
251.40 |
252.30 |
0.90 |
40.29 |
2,983 |
Currently, hole BCN-19 is being drilled, and will intersect the San Ignacio vein approximately 100 meters to the north.
Some of the more significant drill intercepts from the current phase of drilling, up to and including data from drill hole BCN-18, (drill holes 1,8 and 9 were not completed) are tabulated below:
Hole |
From (m) |
To (m) |
Length (m) |
Au (gpt) |
Ag (gpt) |
BCN-3 |
180.55 |
181.70 |
1.15 |
8.96 |
10 |
|
280.60 |
281.90 |
1.30 |
19.35 |
1,240 |
BCN-4 |
310.0 |
317.35 |
7.35 |
12.77 |
84 |
Includes |
314.65 |
317.35 |
2.70 |
27.57 |
87 |
Includes |
316.45 |
317.35 |
0.90 |
33.10 |
136 |
BCN-5 |
73.45 |
75.00 |
1.55 |
6.28 |
235 |
BCN-6 |
232.20 |
243.20 |
11.00 |
6.39 |
70 |
|
281.40 |
285.80 |
4.40 |
9.14 |
23 |
Includes |
281.40 |
283.00 |
1.60 |
23.10 |
49 |
BCN-7 |
205.85 |
206.10 |
0.25 |
41.1 |
4,720 |
BCN-10 |
79.35 |
82.45 |
3.10 |
2.10 |
282 |
BCN-13 |
68.50 |
76.75 |
8.25 |
3.35 |
63 |
Includes |
74.70 |
76.75 |
2.05 |
11.80 |
28 |
BCN-14 |
13.40 |
14.60 |
1.20 |
6.31 |
816 |
BCN-16 |
13.55 |
18.90 |
5.35 |
7.92 |
347 |
Includes |
14.90 |
17.50 |
2.60 |
15.80 |
704 |
Includes |
15.75 |
17.50 |
1.75 |
23.02 |
1,010 |
Includes |
15.75 |
16.40 |
0.65 |
57.70 |
2,590 |
The Natividad mine was the largest gold producer in the state of Oaxaca, and has historically produced approximately 1 million ounces of gold and 23 million ounces of silver from high-grade gold and silver ore shoots distributed in at least five, separate, sub-parallel-trending vein systems. Considered together, these veins, which individually can vary from less than one meter to approximately 10 or more meters wide, occupy a structural zone traceable for over 12 kilometers, all on Continuum's ground. Gold and silver mineralization at the Natividad mine has been documented over a vertical distance of over 600 meters. On the regional scale, Continuum now controls over 40,000 hectares surrounding the Natividad deposit, incorporating nearly all of the Natividad gold-silver district.
Underground drilling continues to expand the strike length of the recently-discovered Northern Extension Zone; the northern continuation of the past-producing deposit. Underground tunneling and drilling, currently being carried out by a mine staff of approximately 70 persons, has now provided evidence for a new mineralized body over an open-ended strike length of over 350 meters; still open towards the north, to depth, and towards the surface.
To date, over 4000 meters of drilling have been completed, and approximately 10 additional holes totaling approximately 3,000 meters are planned as part of the current drill program, while underground tunneling and rehabilitation work is being carried out to provide access for the underground drill, provide underground openings for detailed sampling, and to provide infrastructure requirements. The drill holes have shown that a 250 to 500 meter-wide zone of hydrothermal alteration and quartz veining, which hosts the past-producing deposit, continues north of a bounding fault, previously considered the northern terminus of the historic ore bodies. The focus of Continuum's drilling and underground drifting is to explore a panel of the potentially mineralized zone beyond the northern limit of historic mining. This panel contains at least 5 sub-parallel-striking vein systems, all of which were past-producers, with dimensions of approximately 800 meters along strik
e by 500 meters vertically. The dimensions of the panel are dictated by the extent of underground workings and drill stations, the system remaining open to the north.
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.
On behalf of the Board of Continuum Resources Ltd.
" Larry Dick "
Lawrence A. Dick, Ph.D., P.Geo., Vice President and Director
RENMARK FINANCIAL COMMUNICATIONS INC.
CHRISTINA LALLI : CLALLI@RENMARKFINANCIAL.COM
BARRY MIRE : BMIRE@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM
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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. |