CONTINUUM DELINEATES 31.20 METRES OF FOOTWALL AND HANGINGWALL AG-PB-ZN HALO MINERALIZATION AT ITS 100% OWNED TRES-HERMAMAS PROJECT; REPORTS SIGNIFICANT SILVER AND MOLYBDENUM VALUES FROM THE SAN SEBASTIAN VEIN
February 4th, 2008 - Vancouver, B.C.: Dale Schultz, Vice President Exploration of Continuum Resources Ltd. (TSXV:CNU) is pleased to announce results of the December 2007 chip sampling and trenching work obtained from footwall and hangingwall mineralization of the San Sebastian vein on the Company's 100% owned Tres-Hermanas project in Oaxaca State, Mexico. A map illustrating the locations of the samples and proposed holes can be viewed at http://www.continuumresources.com/. A list of all samples is appended to the end of this release
HALO RESULTS
Continuous chip channel samples of 1.0 metre intervals were taken on the footwall and the hangingwall of the Ag-Pb-Zn San Sebastian vein adjacent to the entrance to the lowest adit (Adit #1) of five adits previously driven on the San Sebastian vein. Sampling from the hangingwall returned 15.2 metres of 79.76 g/t Ag, 4.12% Pb, 1.02% Zn, 0.29% Cu, 0.010% Mo. Footwall sampling returned an interval of 16.0m of 37.06 g/t Ag, 0.25 % Pb, 1.68% Zn, 0.10% Cu, and 0.003 % Mo. This sampling defines a mineralized halo with an aggregate width of 31.20 metres around the polymetallic vein with a weighted average of 57.86 g/t Ag, 2.14 % Pb, 1.36 % Zn, 0.19 % Cu and 0.007 % Mo. Trenching conducted north-east of the hangingwall chip channels returned 7.00 metres of 208.57 g/t Ag, 2.63% Pb, 0.60% Zn, 0.03% Cu and 0.070% Mo, whereas trenching west of the footwall returned values of 6.00 metres of 65.58 g/t Ag, 0.90% Pb, 1.79% Zn, 0.13% Cu, and 0.004% Mo. Both the trenching
and the chip channel samples have collectively exposed the halo over 40 metres in plan view.
The Company is currently preparing to conduct a surface diamond drill program at the Tres-Hermanas property. Proposed drill holes 3H-001 and 002 are designed to test the full extent of the halo mineralization in the sub surface. The man-portable drill, purchased in December of 2007, is at the drop zone at the Tres-Hermanas project and drilling is expected to commence in one week.
SAN SEBASTIAN VEIN RESULTS
In addition to the halo mineralization, the first 50 metres of the San Sebastian vein was sampled at Adit level #1. Very high grade silver values were returned highlighted by the tunnel entrance returning 764.53 g/t Ag over 1.5 metres. One sample from this composite, consisting of the semi-massive sulphide vein material, returned a value of 1440 g/t Ag over 0.65 metres. In addition to high-grade silver, the vein also returned values of 10.36 % Pb, 1.20% Zn, 0.16% Cu, and 0.100% Mo. Of significant interest in this sampling program was a number of high-grade Mo samples, highlighted by a composite of 0.32% Mo over 1.65 metres.
Only the first 50 metres of the tunnel could be sampled as the balance of the workings have collapsed and were inaccessible for sampling. Proposed holes 3H-001 and 002 in addition to testing the halo mineralization will also test the subsurface continuity of the San Sebastian vein.
The San Sebastian vein consists of a polymetallic Pb-Ag-Zn vein oriented north-east south-west, having a known strike length of 500 meters, a down dip extension of 200 plus metres, and dipping 65 to 70 degrees to the south-east. Historical data obtained by the Company has been compiled, plotted and analysed. In a document obtained by the Company titled "Report on the Las Hermanas Mine, San Sebastian, Rio Dulce, Oaxaca, Mexico." James Wroth in 1926 estimated the grade at 8.24 oz/t Ag, 4.67 % Pb and 10.77 % Zn on San Sebastian vein. This data IS NOT compliant with the standards set out by the CIM or with National Instrument 43-101, and should be viewed as historical in nature.
Both the halos mineralization and the San Sebastian vein remains untested by diamond drilling and are open along strike and to depth.
All exploration activities conducted in Oaxaca State, Mexico are under the supervision of Continuum's Exploration Manager, Alex Cruz.
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.
ALS-Chemex in North Vancouver, B.C, conducted geochemical analyses on all samples.
Background
Continuum is actively exploring 9 separate gold-silver projects in the state of Oaxaca, where Continuum has acquired approximately 166,000 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
CONTINUUM RESOURCES CORP.
Per: "Dale Schultz"
Dale Schultz, Vice President Exploration
Renmark Financial Communications Inc.
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.
Halo - Hanging Wall Sample Results
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
42910 |
43.00 |
0.80 |
0.25 |
0.09 |
0.000 |
1.00 |
|
42911 |
50.00 |
2.33 |
0.32 |
0.17 |
0.001 |
1.00 |
|
42912 |
253.00 |
3.18 |
0.92 |
1.00 |
0.002 |
1.00 |
|
42913 |
63.00 |
5.49 |
0.37 |
0.10 |
0.002 |
1.00 |
|
42914 |
76.00 |
5.33 |
0.41 |
0.18 |
0.002 |
1.00 |
|
42915 |
113.00 |
10.05 |
0.40 |
0.19 |
0.002 |
1.00 |
|
42916 |
165.00 |
3.54 |
0.61 |
0.86 |
0.001 |
1.00 |
|
42917 |
91.00 |
7.66 |
0.73 |
0.35 |
0.001 |
1.00 |
|
42918 |
68.00 |
6.18 |
0.96 |
0.15 |
0.003 |
1.00 |
|
42919 |
62.00 |
2.62 |
0.74 |
0.11 |
0.006 |
1.00 |
|
42920 |
58.00 |
6.29 |
1.00 |
0.19 |
0.002 |
1.00 |
|
42921 |
50.00 |
5.78 |
2.69 |
0.18 |
0.001 |
1.00 |
|
42922 |
52.00 |
2.35 |
2.82 |
0.25 |
0.001 |
1.00 |
|
42923 |
11.00 |
0.39 |
2.46 |
0.09 |
0.001 |
1.00 |
|
45003 |
47.00 |
0.67 |
0.81 |
0.38 |
0.083 |
0.30 |
|
45004 |
48.00 |
0.42 |
0.71 |
0.46 |
0.151 |
0.90 |
|
Composite |
79.76 g/t |
4.12% |
1.02% |
0.29% |
0.010% |
15.20 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
42940 |
113.00 |
1.04 |
7.29 |
0.06 |
0.008 |
1.00 |
|
42941 |
111.00 |
0.60 |
1.70 |
0.31 |
0.004 |
1.00 |
|
42942 |
43.00 |
0.54 |
0.41 |
0.11 |
0.001 |
1.00 |
|
42943 |
103.00 |
3.01 |
0.68 |
0.17 |
0.011 |
1.00 |
|
42944 |
2.50 |
0.02 |
0.26 |
0.02 |
0.000 |
1.00 |
|
42945 |
21.00 |
0.24 |
0.42 |
0.12 |
0.001 |
1.00 |
|
Composite |
65.58 g/t |
0.90% |
1.79% |
0.13% |
0.004% |
6.00 m |
Halo - Footwall Sample Results
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
42924 |
103.00 |
1.10 |
1.54 |
0.08 |
0.018 |
1.00 |
|
42925 |
47.00 |
0.43 |
2.73 |
0.09 |
0.015 |
1.00 |
|
42926 |
11.00 |
0.05 |
3.21 |
0.10 |
0.000 |
1.00 |
|
42927 |
8.00 |
0.02 |
1.98 |
0.05 |
0.001 |
1.00 |
|
42928 |
20.00 |
0.02 |
0.94 |
0.10 |
0.001 |
1.00 |
|
42929 |
7.00 |
0.02 |
0.61 |
0.11 |
0.000 |
1.00 |
|
42930 |
32.00 |
0.03 |
0.39 |
0.24 |
0.000 |
1.00 |
|
42931 |
21.00 |
0.01 |
0.51 |
0.15 |
0.000 |
1.00 |
|
42932 |
35.00 |
0.20 |
1.07 |
0.09 |
0.001 |
1.00 |
|
42933 |
75.00 |
0.61 |
2.46 |
0.14 |
0.001 |
1.00 |
|
42934 |
39.00 |
0.11 |
1.52 |
0.15 |
0.001 |
1.00 |
|
42935 |
40.00 |
0.20 |
0.96 |
0.09 |
0.002 |
1.00 |
|
42936 |
29.00 |
0.23 |
1.12 |
0.07 |
0.002 |
1.00 |
|
42937 |
36.00 |
0.19 |
3.46 |
0.08 |
0.001 |
1.00 |
|
42938 |
34.00 |
0.37 |
1.71 |
0.06 |
0.003 |
1.00 |
|
42939 |
56.00 |
0.33 |
2.66 |
0.06 |
0.002 |
1.00 |
|
Composite |
37.06 g/t |
0.25% |
1.68% |
0.10% |
0.003% |
16.00 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
44883 |
17.00 |
0.24 |
0.19 |
0.02 |
0.002 |
1.00 |
|
44884 |
43.00 |
0.80 |
0.28 |
0.03 |
0.016 |
1.00 |
|
44885 |
27.00 |
0.65 |
0.26 |
0.04 |
0.021 |
1.00 |
|
44886 |
189.00 |
2.07 |
0.23 |
0.05 |
0.022 |
1.00 |
|
44887 |
426.00 |
4.30 |
1.31 |
0.03 |
0.079 |
1.00 |
|
44888 |
462.00 |
7.40 |
1.19 |
0.04 |
0.187 |
1.00 |
|
44889 |
296.00 |
2.93 |
0.75 |
0.04 |
0.141 |
1.00 |
|
Composite |
208.57 g/t |
2.63% |
0.60% |
0.03% |
0.070% |
7.00 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
42902 |
45.00 |
0.63 |
0.24 |
0.06 |
0.007 |
0.70 |
|
42903 |
9.00 |
0.07 |
4.32 |
0.13 |
0.001 |
1.00 |
|
42904 |
24.00 |
0.25 |
1.41 |
0.05 |
0.012 |
1.50 |
|
Composite |
34.77 g/t |
0.40% |
3.00% |
0.11% |
0.010% |
2.20 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
44890 |
14.00 |
0.21 |
2.62 |
0.11 |
0.003 |
1.00 |
|
44891 |
43.00 |
0.41 |
1.31 |
0.18 |
0.004 |
1.00 |
|
44892 |
43.00 |
0.52 |
1.48 |
0.06 |
0.014 |
1.00 |
|
44893 |
29.00 |
0.40 |
1.23 |
0.07 |
0.011 |
1.00 |
|
44894 |
33.00 |
0.43 |
0.46 |
0.06 |
0.003 |
1.00 |
|
44895 |
16.00 |
0.36 |
0.21 |
0.05 |
0.008 |
1.00 |
|
44896 |
15.00 |
0.07 |
0.21 |
0.04 |
0.012 |
1.00 |
|
44897 |
13.00 |
0.03 |
0.16 |
0.04 |
0.014 |
1.00 |
|
Composite |
25.75g/t |
0.31% |
0.96% |
0.07% |
0.010% |
8.00 m |
Halo - Aggregate Weighted Average
|
Trench |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
FW |
37.06 |
0.25 |
1.68 |
0.10 |
0.003 |
16.00 |
|
HW |
79.76 |
4.12 |
1.02 |
0.29 |
0.010 |
15.20 |
|
Composite |
57.86 |
2.14 |
1.36 |
0.19 |
0.006 |
31.20 |
San Sebastian Vein - Adit #1
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45001 |
248.00 |
0.78 |
1.92 |
0.16 |
0.013 |
0.85 |
|
45002 |
1440.00 |
22.90 |
0.28 |
0.16 |
0.211 |
0.65 |
|
Composite |
764.53 g/t |
10.36% |
1.20% |
0.16% |
0.100% |
1.50 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45005 |
753.00 |
5.34 |
22.10 |
0.11 |
0.667 |
0.75 |
|
45006 |
33.00 |
0.34 |
0.46 |
0.09 |
0.042 |
0.90 |
|
Composite |
360.27 g/t |
2.61% |
10.29% |
0.10% |
0.320% |
1.65 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45007 |
437.00 |
7.08 |
20.10 |
0.07 |
0.315 |
0.8m |
|
Composite |
437.00 g/t |
7.09% |
20.10% |
0.07% |
0.315% |
0.80 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45008 |
21.00 |
0.16 |
9.74 |
0.28 |
0.004 |
0.65 |
|
45009 |
71.00 |
1.11 |
0.73 |
0.46 |
0.165 |
0.25 |
|
45010 |
338.00 |
2.30 |
10.40 |
0.21 |
0.479 |
0.80 |
|
Composite |
177.53 g/t |
1.30% |
8.72% |
0.27% |
0.250% |
1.70 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45011 |
5.00 |
0.03 |
1.94 |
0.08 |
0.004 |
1.05 |
|
45012 |
16.00 |
0.14 |
8.36 |
0.21 |
0.009 |
0.90 |
|
45013 |
51.00 |
0.33 |
19.15 |
0.23 |
0.010 |
0.70 |
|
45014 |
184.00 |
2.58 |
0.84 |
0.05 |
0.165 |
0.90 |
|
Composite |
62.23 g/t |
0.76% |
6.68% |
0.14% |
0.047% |
3.55 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45015 |
5.00 |
0.03 |
0.94 |
0.06 |
0.003 |
1.20 |
|
45016 |
137.00 |
1.33 |
4.66 |
0.09 |
0.083 |
0.90 |
|
45017 |
158.00 |
2.39 |
16.25 |
0.04 |
0.190 |
0.70 |
|
Composite |
85.67 g/t |
1.04% |
5.96% |
0.07% |
0.100% |
2.80 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45026 |
217.00 |
2.29 |
9.79 |
0.09 |
0.102 |
0.90 |
|
45027 |
56.00 |
0.83 |
1.43 |
0.02 |
0.182 |
0.70 |
|
Composite |
146.56 g/t |
1.65% |
6.13% |
0.06% |
0.135% |
1.60 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45028 |
137.00 |
1.87 |
0.73 |
0.17 |
0.083 |
0.55 |
|
45029 |
283.00 |
3.28 |
1.58 |
0.04 |
0.059 |
0.75 |
|
45030 |
825.00 |
8.33 |
18.80 |
0.32 |
0.270 |
0.25 |
|
Compoiste |
318.61 g/t |
3.59% |
4.05% |
0.13% |
0.100% |
1.55 m |
|
SampleID |
Ag g/t |
Pb % |
Zn % |
Cu % |
Mo % |
Width (m) |
|
45034 |
200.00 |
6.67 |
1.88 |
0.03 |
0.168 |
0.90 |
|
Compoiste |
200.00 g/t |
6.67% |
1.88% |
0.03% |
0.168% |
0.90 M |
