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Latest Information  March 15, 2000 Continental Resources concluded a private placement of 3,333,333 common shares at $0.15 per share, for a total of CDN$500,000. The proceeds will be used to complete the pre-feasibility study on the bauxite project Gandhamardan, India. March 31, 1999 The bauxite horizon extended over a length of 9.8 km and a width averaging 750 m. Average thickness was 16.6 m. The principal mineral was gibbsite. Mapping, sampling and drilling had identified 207.4 million metric tonnes averaging 45.75% Al2O3, 2.23% SiO2, 23.23% Fe2O3, 2.58% TiO2 and 22.95% LOI. The bauxite reserves were established by over 600 drill holes and strategically placed pits with 17,168 samples collected and analyzed. The bauxite on Gandhamardan is near surface with a stripping ratio of 0.3 to 1 of waste to cover bauxite, which is amenable by a large tonnage excavator or dozer operation. March 31, 1999 The bauxite horizon extended over a length of 9.8 km and a width averaging 750 m. Average thickness was 16.6 m. The principal mineral was gibbsite. Mapping, sampling and drilling had identified 207.4 million metric tonnes averaging 45.75% Al2O3, 2.23% SiO2, 23.23% Fe2O3, 2.58% TiO2 and 22.95% LOI. The bauxite reserves were established by over 600 drill holes and strategically placed pits with 17,168 samples collected and analyzed. The bauxite on Gandhamardan is near surface with a stripping ratio of 0.3 to 1 of waste to cover bauxite, which is amenable by a large tonnage excavator or dozer operation. |
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