VANCOUVER, Sept. 5 /CNW Telbec/ - Continuum Resources Ltd. (TSX-V: CNU)
and Fortuna Silver Mines Inc. (TSX-V: FVI). Mr. Jorge Ganoza, President of
Fortuna and Mr. Greig Hutton, President of Continuum, are pleased to present
results from the Company's recently completed phase one drill program on
Continuum's San Jose silver-gold project in Oaxaca, Mexico. Multiple high
grade intercepts over considerable widths have outlined a bonanza style high
grade mineralized shoot that remains open at depth. Upon receipt of all
pending assays the Company and Continuum will design a second phase program
that will include further drilling, expected to begin in October.
Fortuna completed a total of 11,904m of core drilling in 37 holes using
2 rigs, between January and June of 2006. The program was designed to test the
San Jose vein system over 2km strike distance, on 100m sections, to depths of
300 to 400 meters below surface. A schematic long section will be made
available shortly on Fortuna's website at www.fortunasilver.com.
Complete results for the 24 holes in the Trinidad area are tabulated
below (including data for 9 holes previously released May 15, 2006). Results
for the remaining 13 holes along strike to the south in the San Ignacio area
are pending
<<
SAN JOSE PROJECT
2006 DRILL PROGRAM
TRINIDAD ZONE ASSAY SUMMARY
Hole Target From (m) To (m) Au (g/t) Ag (g/t) Interval (m)
-------------------------------------------------------------------------
SJO-16 (i) D1 161.35 166.08 1.48 239 4.73
SJO-17 E1 No Significant Interval
SJO-18 (i) C1 240.92 251.48 7.28 616 13.86
incl 245.85 246.91 27.00 2020 1.06
SJO-19 (i) D2 252.21 257.70 1.21 164 5.49
406.27 410.59 2.18 167 4.32
422.00 426.80 1.39 121 4.80
SJO-20 (i) C2 339.70 341.34 2.94 714 1.64
368.90 373.01 10.52 1772 4.11
incl 371.21 371.98 31.50 6140 0.77
SJO-21 (i) B1 222.25 222.89 1.06 220 0.64
246.50 255.90 2.70 479 9.40
262.47 268.48 0.53 128 6.53
SJO-22 (i) B2 373.50 374.35 1.93 201 0.85
387.63 390.00 2.55 568 2.37
414.17 415.97 3.61 394 1.80
SJO-30 (i) A1 253.85 255.30 1.12 155 1.45
264.80 265.55 0.67 118 0.75
SJO-32 (i) A2 347.53 349.03 0.61 131 1.50
356.80 358.11 0.62 110 1.31
SJO-35 (i) A3 No Significant Interval
SJO-39 E3 42.75 47.65 5.90 843 4.90
incl 42.75 44.00 12.55 1510 1.25
SJO-40 F2 No Significant Interval
SJO-41 E0a No Significant Interval -
lost in old workings
SJO-42 F1 No Significant Interval
SJO-43 E0b No Significant Interval -
lost in old workings
SJO-44 F0 No Significant Interval -
lost in old workings
SJO-45 F3 194.86 195.55 2.72 443 0.69
SJO-46 D4 371.00 373.30 5.64 869 2.30
401.66 404.59 1.20 272 2.93
414.60 424.82 5.33 347 10.22
480.31 487.44 3.99 397 7.13
SJO-47 F4 No Significant Interval
SJO-48 E4 186.78 188.23 3.05 108 1.45
SJO-49 D3 No Significant Interval - lost before target
SJO-50 B3 331.90 335.80 1.96 338 3.90
incl 331.90 332.40 6.06 1415 0.50
SJO-51 D5 328.50 346.41 2.48 298 17.91
incl 328.50 330.00 7.15 1315 1.50
394.84 399.00 1.76 261 4.16
404.06 407.03 1.51 335 2.97
424.20 448.45 10.09 892 24.25
incl 429.17 440.16 20.93 1858 10.99
incl 429.17 433.98 41.98 3665 4.81
incl 431.30 432.15 126.00 10000 0.85
SJO-52 E5 370.20 372.78 1.14 223 2.58
Note that true widths vary between roughly 70-85% of the drill core
intervals tabulated above.
(i) Results previously released May 15, 2006
>>
All samples were analyzed for 31 elements using ICP techniques, and for
silver and gold using fire assay with a gravimetric finish, by ALS Chemex of
North Vancouver BC. Core samples were logged and cut on site at San Jose, air
freighted to Chemex's sample prep lab in Guadalajara, Mexico, and then
forwarded to Chemex's North Vancouver facility for assaying. A comprehensive
QA-QC program was conducted using blanks and standards to ensure accuracy in
the sampling program.
Mr. Peter Thiersch, Vice President of Exploration for the Company,
commented: "Drilling has consistently returned potentially mineable silver and
gold grades over considerable widths, with many drill holes cutting multiple
veins. It is apparent that drilling has outlined a bonanza style mineralized
shoot at Trinidad roughly 500m along strike by 200m vertical, below existing
workings, with a high grade core at least 250m long, which remains open to
depth."
Fortuna can earn a controlling interest in the San Jose project from
Continuum Resources Ltd., by spending $2 million on drilling by December 2007,
completing a NI 43-101 compliant resource estimate, and making a cash payment
to Continuum based on the ounces of silver or silver equivalent set out in the
resource estimate.
The deposit currently has an inferred resource of 527,283 tonnes grading
396 g/t Ag and 3.5 g/t Au (based on 4,845m of drilling in 15 holes conducted
by Continuum) as outlined in the April 2006 Technical Report available on
SEDAR.
Qualified Person: Mr. Peter Thiersch, M.Sc. P.Geo., Vice-President,
Exploration of Fortuna Silver Mines Inc., is the Qualified Person for Fortuna,
as defined by National Instrument 43-101, and was responsible for the design
and management of the San Jose drill program.
For more information, please visit our website 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
Greig Hutton, President
Continuum Resources Ltd.
Tel: 604-629-0000
Symbol: TSX-V : CNU
Jorge Ganoza, President
Fortuna Silver Mines Inc.
Tel: 604-484-4085
Symbol: TSX-V : FVI
