Continuum Increases Landholdings in Natividad Gold - Silver District, Oaxaca, Mexico
Vancouver, British Columbia, March 20, 2007: Continuum Resources Ltd (TSX-V: CNU) is pleased to announce that it has significantly increased it's already large land package covering the historically-important Natividad gold district in the southern Mexico state of Oaxaca.
A total of 5,300 hectares of additional lands have been acquired by staking, bringing Continuum's total contiguous landholdings in the district to 54,653 hectares.
The recent land acquisition adds a further nine kilometers of strike length to a NE-trending structural feature along which a host of past-producing gold-silver mines are located. This mineralized trend is now controlled by Continuum over a strike length of 35 kilometers. The most significant gold-silver deposit recognized to date is the Natividad deposit, where approximately 1 million ounces of gold and 25 million ounces of silver were produced between 1930 and the present, although production began in 1792.
Continuum's exploration focus in the district has been, and will continue to be, the definition of a newly-discovered, northern extension of the Natividad deposit by underground tunneling and drilling. Drilling is currently being carried out from extensions of Levels 1 and 6 within the mine. Lawrence Dick, Continuum's Vice President of Exploration states "Continuum now has a very large land holding at Natividad which covers the entire mineralized district, including at least 15 past-producers of gold and silver. As we obtain more information on the controls of gold mineralization in the district, we will begin exploring outside of the confines of the Natividad deposit, which has been our focus up until now".
Continuum's exploration land package in the state of Oaxaca has grown to approximately 122,000 hectares and includes 10 individual projects including Natividad and the San Jose silver discovery in the Taviche silver-gold district. As at Natividad, Continuum and joint venture partner Fortuna Silver Mines Inc. have been working to consolidate a majority of the Taviche district, with land holdings now over 50,000 hectares. With the land consolidated, the joint venture can now begin exploring the potential not only of the highly-prospective San Jose ore shoot, but also for related bodies of similar-style, high-grade mineralization elsewhere in the district.
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.
On behalf of the Board of Continuum Resources Ltd.
Lawrence A. Dick, Ph.D., P.Geo., Vice President and Director
For further information please contact :
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, TERI, LACHIGUIRI, 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. |