Constantine Metal Resources Ltd. (TSX-V: CEM) is pleased to report assay results for four new holes from its ongoing 10,000-meter drill program at its Palmer Joint Venture Project, Alaska. Results are reported for step-out drilling at both the South Wall and AG Zones.
Key Highlights Include:
Garfield MacVeigh, President, stated, “Drilling continues to expand the South Wall and AG Zones, highlighting the good widths and continuity that are a characteristic of mineralization at Palmer. AG Zone was discovered in 2017 and is rapidly revealing itself to be a significant new precious-metal rich massive barite-sulphide deposit with excellent size potential. Drilling in 2018 has now doubled the AG strike-length, with ongoing exploration focused on further expansion.”
A summary of recent assays results is provided in Table 1. Barite (BaSO4) is included as a reportable commodity following test work that shows a premium-quality barite concentrate can be recovered as a by-product from the polymetallic ores at Palmer (see news release dated August 13, 2018). Location of South Wall and AG Zone drill intersection pierce points are shown on Figures 1 and 2.
South Wall Drill Results
Reported South Wall holes tested the western extension of the zone, following-up on the excellent results of last season. Hole CMR18-108 intersected 15.5 meters grading 1.6% copper and 4.8% zinc approximately 50 meters west and 50 meters down-dip of CMR17-97, which intersected 14.5 meters of 1.9% copper and 7.5% zinc (see news release dated Oct 2, 2017). The results expand the zone to the west and confirm continuity of grade and width to the west and down-plunge toward the deeper South Wall EM zone.
AG Zone Drill Results
The reported CMR18-114 intersection of 21.1 meters grading 0.5 g/t gold, 92 g/t silver, 1.0% zinc, 0.4% lead, and 55% BaSO4 is located approximately 90 meters along strike to the southeast of hole CMR18-109. The intersection demonstrates good continuity of the thick bed of precious-metal enriched massive barite-sulphide mineralization present at AG Zone. The large step-outs drilled in 2018 have very quickly expanded the total known extent of the mineralization. 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, and relatively close to existing road infrastructure. 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
|Drill Hole||From||To||Width||Cu||Zn||Pb||Ag||Au||BaSO4 %||Zone|
|CMR18-112||no significant intersection||AG|
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. Overall recovery for the mineralized zone in CMR18-108 was poor, averaging 60-65% over the reported interval, all other intervals recovery is near 100%. *Denotes previously reported intersection.
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.
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