Canadian group snares Chinese award

Continental Minerals Corporation has won the ‘Explorer of the Year Award’ at the China Mining 2007 Conference in Beijing. The award is regarded as the forum’s most important gong.

The honour is awarded to an individual or company that has discovered a significant mineral deposit in a new or previously explored area, and is based on due diligence conducted by China’s Ministry of Lands and Resources, the conference organising committee, and its international advisory committee.

Continental discovered and developed the Xietongmen deposit in the Tibet Autonomous Region. The company initiated exploration at Xietongmen in April 2005, and in two years outlined a large porphyry copper-gold-silver deposit with 220 Mt of mineral resources.

Continental has also completed a positive feasibility study for a 40,000 t/d open pit operation at Xietongmen. The mine would have a 14 year life with average production of 116 Mlb/y of copper, 190,000 oz/y of gold and 1.73 Moz/y of silver.

Continental is currently focused on completion of the environmental and socioeconomic assessment, advancement of its mining license application. The company is also exploring other prospective targets on the property.

President and CEO Gerald Panneton: "This important discovery was the result of the hard work and commitment of the on-the ground team of project managers, geologists, technicians, and support staff as well as the engineering, environmental and community development specialists focused on developing a long-life, state of the art mine."