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Development

Studies Planned for Tibet Copper-Gold Project

[WTN-L World Tibet Network News. Published by The Canada Tibet Committee. Issue ID: 05/09/14; September 14, 2005.]

Mining Weekly, South Africa
14 September 2005

Continental Minerals Corporation and China NetTV Holdings yesterday announced that ongoing core drilling continues to intersect long intervals of high-grade copper and gold mineralization at the Xietongmen project, 240 km southwest of Lhasa in Tibet, People's Republic of China.

Five drill rigs are on site and systematically delineating this new porphyry copper-gold discovery.

Assay results continue to show strong continuity of mineralization and the deposit continues to remain open to expansion in all lateral directions.

Further, on behalf of the venture and as part of its commitment to responsible mineral development, Continental said that it would initiate baseline socioeconomic studies for the project.

An important part of these data collection activities will be an ongoing dialogue with the local residents in the Tibetan villages and the various authorities in the region, with the objective being the development of viable management strategies so that the project proceeds in a manner that respects local socio-economic priorities, provides benefits in the region and incorporates high environmental standards.

Infrastructure for the project site includes a paved highway and a hydroelectric transmission line that pass near to the southern boundary of the property.

The highway provides access to the city of Xigaze (population 100 000), approximately 53 km to the east, where fuel, food, lodging and office facilities are available.

Other supplies, heavy equipment, equipment operators and vehicles are readily obtainable in Lhasa.


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