Constantine Drills 28.8 meters at 9.0% Zinc, 3.5% Lead, 141 g/t Silver, 0.5 g/t Gold, 150m AG Zone Step-out, Palmer Project, Alaska
Vancouver, BC – Constantine Metal Resources Ltd. (TSX Venture – CEM) (“Constantine” or the “Company”) is pleased to report the first round of assay results for a 10,000-meter drill program currently underway at its Palmer Joint Venture Project, Alaska (“Palmer” or the “Project”). Wide intervals of silver-gold-zinc-lead-barite mineralization have been intersected in the first two drill holes located 150 meters along strike to the southeast from the AG Zone discovery, increasing the total strike length to 350 meters. Highlights include:
- 4.8 meters grading 436 g/t silver, 1.3 g/t gold, 3.6% zinc, 1.6% lead, and
- 12.5 meters grading 217 g/t silver, 1.8 g/t gold, 5.2% zinc, 0.7% lead
- 43.3 meters grading 143 g/t silver, 0.5 g/t gold, 6.5% zinc, 2.5% lead
Includes 28.8 meters grading 141 g/t silver, 0.5 g/t gold, 9.0% zinc, 3.5% lead
Garfield MacVeigh, President, stated “This is an exceptional start to our 2018 drill program at Palmer. The intersections are major step-outs to our 2017 AG Zone discovery and confirm significant size potential. We are particularly pleased with the very strong silver and gold contribution to the base metal values and the substantial widths.”
AG Zone Drilling
The reported intersections are located approximately 150 meters along strike to the southeast from last season’s AG Zone drilling, and approximately half-way between the AG Zone and the high-grade JAG surface prospect (See Figure 1 and 2). Drill hole CMR18-109 intersected two closely spaced zones of massive barite-sulphide for a cumulative width of 17.3 meters (Table 1). Drill hole CMR18-110 intersected 43.3 meters of massive barite-sulphide 90 meters down-dip of hole CMR18-109. The intersections increase the drilled strike length of AG Zone to approximately 350 meters, and the zone remains open to further expansion along strike and to depth.
AG Zone is a new deposit discovered in 2017 located three kilometers southwest from the main South Wall mineral resource. The significant precious metal mineralization observed at AG Zone is characteristic of other Late Triassic VMS deposits in the region such as Greens Creek, one of the largest and lowest cost primary silver mines in the world. Constantine intends to have a maiden resource for AG Zone this year that will be included in the updated resource estimation that is currently underway for Palmer.
Table 1. Assay Results for AG Zone
Drill intercepts reported as core lengths; true widths are estimated to be approximately 80% to 95% of reported widths. Averages are weighted for length and density. Barite (BaSO4) is an industrial mineral being evaluated as a saleable by-product for the Palmer Project. “g/t” equals grams per metric tonne; “oz/t” equals ounce per metric tonne.
About the Palmer Project
Palmer is an advanced stage, high-grade volcanogenic massive sulphide (VMS) project, with an Inferred Mineral Resource of 8.1 million tonnes grading 1.41% copper, 5.25% zinc, 0.32 g/t gold and 31.7 g/t silver*. The Project is being advanced as a joint venture between Constantine (51%) and Dowa (49%), with Constantine as operator. The project is located in a very accessible part of coastal Southeast Alaska, with road access to the edge of the property and within 60 kilometers of the year-round deep-sea port of Haines. Mineralization at Palmer occurs within the same belt of rocks that is host to the Greens Creek mine, one of the world’s richest VMS deposits. VMS deposits are known to occur in clusters and with at least 25 separate base metal and/or barite occurrences and prospects on the property, there is abundant potential for discovery of multiple deposits at Palmer.
About the Company
Constantine is a mineral exploration company led by a proven technical team with a focus on premier North American mining environments. In addition to the Company’s flagship copper-zinc-silver-gold Palmer Joint Venture Project, Constantine also controls a portfolio of high-quality, 100% owned, gold projects that the Company intends to spinout. These include the very high-grade Johnson Tract Au-Ag-Zn-Cu-Pb deposit, located in coastal Southcentral, Alaska (see Company news release dated June 19, 2018) and projects in the Timmins camp Ontario that include the large, well located Golden Mile Property and the Munro Croesus Gold Property that is renowned for its exceptionally high-grade past production. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses.
Please visit the Company’s website (www.constantinemetals.com) for more detailed company and project information.
On Behalf of Constantine Metal Resources Ltd.
For further information please contact:
Garfield MacVeigh, President or Darwin Green, VP Exploration
Phone: 604-629-2348. Email: firstname.lastname@example.org