Continental Minerals Corporation says that all of the company's objectives for 2006 related to the Xietongmen Project in Tibet were successfully achieved and it is still compiling environmental and social impact assessments.
A merger with the company's former partner on the Xietongmen Project was completed in the fourth quarter of 2006, unifying 100% of the project in Continental. The property now includes the area encompassing the Xietongmen copper-gold deposit and the Newtongmen discovery, plus the surrounding 109 square kilometers of prospective exploration lands, for a grand total of 121 square kilometers.
A comprehensive program centered on the Xietongmen deposit commenced in 2006. The program is designed to collect the data necessary for a feasibility study and environmental and social impact assessments, and is targeted for completion in 2007. In addition to extensive drilling to fully assess the resource potential of the property, the program has included preliminary engineering, environmental and socioeconomic studies and expanded community and stakeholder engagement activities.
Continental commissioned international consulting groups and Chinese design institutes to complete the components of the Feasibility Study prescribed under legislation in China as well as the studies necessary for an international Feasibility Study, which would be required for financing. The work toward these objectives is complementary and significant progress has been made. A major portion of the site activities is completed, data compilation is well advanced and a number of reports are currently being developed.
Environmental and socio-economic baseline data collection is being carried out by Sinosphere, based in Beijing, in conjunction with Golder. The Yellow River Conservatory Bureau is conducting hydrological studies at the site, too. The company says flora and fauna baseline studies are largely complete, but other activities such as weather data collection and water well monitoring continues. Socio-economic baseline studies have been completed, and input is being collected from the local authorities.
The company's community engagement program was expanded along with the other project activities in 2006. As feasibility studies have progressed, a series of more formal meetings and information sessions have been initiated in the local villages. Additional meetings have been held with county and regional government officials. A five-person team comprised of a Community Relations Manager and Village Liaison Officers from the local area has been engaged to describe and discuss the project and to get input on it. The company's local Environmental Manager has also been actively involved in these presentations and in planning follow up sessions to respond to questions. In addition, the team is working with the communities to assess opportunities for longer term community and economic development
