Continent Announces Option to Purchase Dos Cabezas Gold Mine, Arizonaadmin
Friday, August 21st 2009
Continent Resources Inc. announce that it has entered into an agreement with Fronteer Group, Reno, Nevada under which Continent has the right to purchase the Dos Cabezas Property in southern Arizona for the total price of USD$400,000 payable over 3 years. The Dos Cabezas property is a series of gold-silver-copper quartz fissure veins exposed for 3 miles that were previously produced by underground miners. The last gold mining occurred in 1996 by Western States Mining, a subsidiary of the Fronteer Group.
Continent Resources Inc. holds a significant portfolio of advanced stage copper properties among the greatest cluster of porphyry copper deposits in the world, the southwest USA. The region produces more than 10% of the world’s copper. The Company is focused on the discovery and development of copper resources which are suitable for leaching. Lone Mountain, the Company’s feature property, is within sight of the large Tyrone and Chino porphyry copper producing mines operated by Freeport-McMoRan.