Anybody know what Company it is?A venture between a Canadian company and a Chinese firm has uncovered high grades of gold and copper in China.
This week, Continental Minerals Corporation president and CEO Ronald Thiessen and of China NetTV Holdings president and CEO Anthony Garson announced that the initial exploration drill holes have discovered broad intervals of high-grade copper and gold mineralization at the Xietongmen copper-gold project, located 240 km southwest of Lhasa in Tibet, People's Republic of China.
Through a venture with China NetTV, Continental can earn a 60% interest in the Xietongmen property by making payments and project expenditures of $10-million before November 9, 2007. Continental is the operator of the exploration programs.
The Xietongmen property hosts porphyry-like, disseminated and quartz-stockwork copper and gold mineralization within a four-kilometre long alteration zone that had previously been probed by two historical drill holes spaced approximately 250 m apart.
Continental has started a grid-drilling program, designed to systematically delineate the copper-gold mineralization on the property.
Assay results to date show strong continuity of mineralisation and correlation between copper and gold values. Given the success of the initial drilling, six drill rigs have been mobilised to site to rapidly delineate and expand this significant new copper-gold discovery.