Corporate
Corporate Overview
Continental Precious Minerals Inc. (TSX:CZQ) is a multi-mineral exploration company with multiple interests and exploration licences in Sweden. Since March 2005, Continental’s primary goal has been to advance its Swedish assets. To date, Continental’s exploration program has primarily focused on the Viken MMS licence, where it has defined a NI 43-101 compliant resource. MMS Viken has an inferred resource estimate of 2,831 billion tonnes containing 1 billion pounds of uranium oxide (0.33 lbs/ton), 2 billion pounds of nickel (0.65 lbs/ton), 17 billion pounds of vanadium pentoxide (5.36 lbs/ton) and 1.5 billion pounds of molybdenum (0.49 lbs/ton). The resource estimate also includes an indicated resource of 24 million tonnes containing 10 million pounds of uranium oxide (0.38 lbs/ton), 17 million pounds of nickel (0.63 lbs/ton), 15 million pounds of molybdenum (0.56 lbs/ton) and 162 million pounds of vanadium pentoxide (6.25 lbs/ton).
This resource estimate is based on 133 holes for a total of 29,293 metres at the project. The company will continue to conserve its capital, focus on further delineating the resource at the Viken licence and surrounding licences on a cost effective basis, completing the metallurgical and environmental studies already underway and completing a preliminary economic assessment of the project in the second half of 2009, while seeking to collaborate with a major mining company to advance development. The company will also evaluate expansion and diversification opportunities as they emerge in current market conditions.