China NetTV and Continental Minerals Agree to Explore Exciting Gold-Copper Project in Tibet.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 9, 2004 Ronald Xie, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of China NetTV Holdings Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CTVH) (the "Company") is pleased to announce that the Company has reached an agreement (the "Property Option Agreement") with Hunter Dickinson, Inc. ("HDI HDI Human Development Index (UNDP yardstick of human welfare) HDI Help Desk Institute HDI Humpty Dumpty Institute (New York, New York) HDI High Density Interconnect "), whereby HDI has acquired the right to earn a 60% interest in the Company's Xietongmen Gold-Copper Property ("the Property") in Tibet. Pursuant to the Property Option Agreement, HDI has assigned all its rights to Continental Minerals Corp. (TSXV:KMK KMK Kottonmouth Kings (band) KMK Karlsruher Messe- und Kongress-Gmbh KMK Kiss Me Kate KMK Keating Muething and Klekamp PLL ; OTCBB:KMKCF) ("Continental"). Continental is a member of the Hunter Dickinson group of public companies which are active in mineral exploration and development throughout the world. Under the terms of the Property Option Agreement, as assignee assignee (assign) n. a person to whom property is transferred by sale or gift, particularly real property. (See: assign) ASSIGNEE. One to whom an assignment has been made. 2. , Continental is required to pay the Company a total of US$2,000,000 and incur expenditures totalling US$5,000,000 over a 24 month period in order to earn a 50% interest in the Property. Continental also has the right to acquire a further 10% interest in the Property by incurring a further US$3,000,000 of expenditures in year 3. Upon Continental earning its interest, Continental and the Company will pursue development of the Property on a joint venture basis. The Xietongmen gold-copper deposit is located between the Gangdisi Mountains and Brahmaputra River Brahmaputra River River, Central and South Asia. From its headsprings in the Tibet Autonomous Region of China (as the Yarlung River), it flows across southern Tibet to break through the Himalayas in great gorges (where it is known as the Dihang). , in an area of moderate to gentle relief, approximately 240 kilometres southwest of Lhasa, Capital of Tibet. A highway and hydro hy·dro adj. Hydroelectric. n. pl. hy·dros 1. Hydroelectric power. 2. A hydroelectric power plant. electric transmission line traverse traverse - traversal the southern edge of the Property providing basic infrastructure. The deposit consists of porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. -like, disseminated and quartz stockwork mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . Geochemical surveys have outlined a 4 kilometre long alteration zone that has been tested by two vertical diamond drill holes, separated by a 200 metre long underground adit. Drill holes samples and adit samples returned strong gold-copper assays. This gold-copper mineralization remains open in all directions and will be the subject of a large scale, multi-rig drilling program which is now being planned by the venture partners. Assay results for the drill holes were analyzed by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex of Vancouver, BC and assay results for channel samples from the adit and related crosscuts were analyzed by CLTB Labs of Lhasa, Tibet. The results are tabulated below.
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Drill
Type Hole From To Intercept Au Cu CuEQ(1)
Adit/CX (metres) (metres) (metres) g/t % %
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DDH ZK0301 34.64 269.21 234.57 0.58 0.47 0.84
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DDH ZK0301 Incl. 64.69 180.28 115.59 0.68 0.57 1.01
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DDH ZK0701 25.40 231.90 206.50 1.43 0.68 1.59
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DDH ZK0701 Incl. 25.40 118.05 92.65 1.96 1.02 2.27
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Adit PD04 74.00 187.00 113.00 0.50 0.56 0.88
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CX PD04-YM2 0.00 24.00 24.00 0.71 0.50 0.96
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CX PD04-YM3 0.00 55.00 55.00 1.03 0.59 1.25
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CX PD04-YM3A 0.00 29.00 29.00 0.75 0.52 1.00
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CX PD04-YM4 0.00 76.20 76.20 1.91 1.23 2.45
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CX PD04-YM4 Incl. 32.00 52.00 20.00 4.01 1.87 4.43
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(1) Copper equivalent calculations use metal prices of US$350/oz for
gold and US$0.80/lb for copper. Adjustment factors to account for
differences in relative metallurgical recoveries for gold and
copper will depend upon the completion of definitive
metallurgical testing.
CuEQ equals Cu % + (Au g/t x 11.25/17.64)
DDH equals diamond drill hole
CX equals crosscut
The Property Option Agreement is subject to the acceptance of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. which is expected to received in the ordinary course. ON BEHALF OF THE BOARD OF DIRECTORS Ronald Xie, President and CEO This release includes certain statements that may be deemed "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ". All statements in this release, other than statements historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings including the annual 10K filing with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Commission. No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved the information contained in this news release. |
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