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Continuum Resources Ltd.

Publié le 03 avril 2007

Drill Program starts on San Jose high-grade shoot, looking to increase 68.8 mi

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Mots clés associés :   Fortuna | G Mexico |

Drill Program starts on San Jose high-grade shoot, looking to increase 68.8 million ounce Ag-Au resource prior to start of production

April 3, 2007: 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 the year.

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."

Qualified Person

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.

Background

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 www.continuumresources.com.

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.

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

Continuum Resources Ltd.

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CODE : CNU.V
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Continuum est une société de production minière d'argent et d'or basée au Canada.

Continuum détient divers projets d'exploration au Mexique.

Son principal projet en production est SAN JOSE PROJECT au Mexique et ses principaux projets en exploration sont LA PREDILECTA, NINO PERDIDO, TALEA, LACHATAO, TERI, LACHIGUIRI, NATIVIDAD et TAVICHE au Mexique et RICHARDSON LAKE au Canada.

Continuum est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 5,6 millions CA$ (4,4 millions US$, 3,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2003 à 1,20 CA$, et son plus bas niveau récent le 24 octobre 2008 à 0,01 CA$.

Continuum possède 124 038 000 actions en circulation.

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Dans les médias de Continuum Resources Ltd.
25/03/2010Gold and Metals Continuum
Financements de Continuum Resources Ltd.
14/01/2008Extends Expiry Date of Remaining Warrants
04/01/2008 Extends Expiry Date of Remaining Warrants
Nominations de Continuum Resources Ltd.
31/01/2008Appoints Leonard Sinclair of Clifton and Associates as Envir...
24/01/2008Appoints Alex Cruz as Country Manager for Mexico
10/01/2008Announces Appointment of New General Manager for Oaxaca Proj...
26/07/2007 appoints Dale Schultz Vice-President, Exploration
Projets de Continuum Resources Ltd.
15/04/2008(Tres Hermanas)Reports 367.8 G/T Ag, 7.48 % Pb and 6.06 % Zn Over 1.9 Metre...
02/04/2008(San Jose Project) Fortuna cuts 7.1 meters with 4.36 g/t Au and 302 g/t Ag in ...
21/02/2008(San Jose Project)Fortuna drills 7.95 meters with 9.37 g/t Au and 487 g/t Ag a...
12/02/2008Commences Drilling at its 100% Owned Tres-Hermanas Project
04/02/2008Delineates 31.20 Metres of Footwall and Hangingwall Ag-Pb-Zn...
16/01/2008(San Jose Project)announces drill results of 7.95 meters with 9.37 g/t Au and ...
20/12/2007(San Jose Project)Purchases Diamond Drill For 2008 Exploration Programs In Oax...
14/09/2007(Natividad)announces delay in release of Natividad 43-101
21/08/2007(San Jose Project)Announces Additional Drill Results at San Jose
30/05/2007(San Jose Project)San Jose Drill Program Cuts 104.9m of 283 g/t Ag + 2.48 g/t ...
15/05/2007(Natividad)Initiates Surface Drilling and Underground Bulk Sampling at ...
11/04/2007(Natividad)Underground Drilling at Natividad Intersects High-grade Gold...
03/04/2007(San Jose Project)Drill Program starts on San Jose high-grade shoot, looking t...
31/05/2006underground diamond drilling at the Navidad gold/silver mine...
Communiqués de Presse de Continuum Resources Ltd.
30/05/2008Announces Convertible Debenture Financing Totalling Up To $3...
19/03/2008LOI on Natividad Project Terminated
28/02/2008Increases Exploration on Oaxaca Gold Projects
01/02/2008Announces Letter of Intent for Sale of Natividad Project
29/01/2008 Retains Jose Juan Zorrilla of Human Environment Group to Ov...
19/12/2007Provides Exploration Summary and 2008 Objectives
16/11/2007 Adopts Shareholders Rights Plan
05/11/2007releases results for latest phase of drilling at Natividad P...
01/10/2007unable to reach joint venture agreement at Natividad
24/09/2007Reactives 100% owned Lachiguiri Project in Oaxaca State, Mex...
19/09/2007Recommences Ag-Pb-Zn exploration at their 100% owned Tres-He...
27/08/2007Confirms Cash Position and Investments
08/08/2007 retains Renmark Financial Communications Inc.
16/07/2007and Fortuna drill 25.1m averaging 10.9 g/t Au + 588 g/t Ag a...
28/05/2007Dr. Lawrence Dick resigns as Director and V.P. Exploration
01/05/2007Receives Permits for the Initiation of Surface Drilling and ...
20/03/2007Increases Landholdings in Natividad Gold ? Silver District, ...
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TSX-V (CNU.V)FRANKFURT (CQ7.F)
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