CEM Constantine Metal Resources Ltd

Constantine Metal Resources Ltd. (TSX VENTURE:CEM) ("Constantine" or the
"Company") is pleased to announce crews have commenced mobilization for the 2014
drill program at the Palmer VMS Project, Alaska ("Palmer" or "Project"). The
work is part of a US$6.2 million budget for 2014 funded by partner Dowa Metals &
Mining Co., Ltd. of Japan ("Dowa"). Dowa are entering the second year of an
option agreement in which they can earn 49% in the Palmer Project by making
aggregate expenditures of US$22 million over four years.


The 2014 exploration program plans for a minimum of 10,000 meters of drilling,
and will include 3 drill rigs, all of which are expected to be in operation by
early June. Two drill rigs will be dedicated to expansion of the South Wall
resource with holes targeting zones on nominal 100 meter step-outs. This
includes testing a large conductive plate located immediately down plunge of the
existing deposit that was modeled from downhole geophysical data. The third
drill will test separate property wide targets. Other work planned for the 2014
season includes construction of a 4 km supply road, and environmental and
geotechnical studies. Constantine is Operator for work programs carried out
during the earn-in period.


Garfield MacVeigh, President and CEO states, "The Palmer project stands out as
one of the more active and high quality copper-zinc exploration projects in
today's North American marketplace. With the largest program to date at Palmer,
there is tremendous potential in 2014 to expand the existing resource and
discover new deposits."


About the Palmer Project

Palmer is a an early resource expansion stage, high-grade volcanogenic massive
sulphide (VMS) project that hosts a 4.75 million tonne inferred resource
estimate grading 1.84% copper, 4.57% zinc, 0.28 g/t gold and 29 g/t silver(i).
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 kilometres 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 and Windy Craggy VMS
deposits - both widely recognized to be world class systems. 


Drilling of 32 holes by Constantine between 2006 and 2009 led to the discovery
of thick continuous zones of massive sulphide mineralization at the South Wall
and RW Zones of the Glacier Creek prospect, and calculation of an initial
mineral resource estimate. The total footprint of mineralization has been
expanded with an additional 20 holes completed in 2010 and 2013, with the
majority of this drilling consisting of step-outs from the resource estimate.
The South Wall and RW Zones occupy the same time-stratigraphic intervals on
opposite limbs of a large-scale anticline, and all zones intersected in drilling
remain open to expansion laterally and to depth. There are at least 25 separate
base metal and/or barite occurrences and prospects on the Palmer property,
indicating the presence of a very extensive mineralized system with potential
for discovery of multiple deposits. 


About the Company

Constantine is a mineral exploration company with a focus on premier North
American mining environments. In addition to the flagship Palmer
copper-zinc-silver-gold VMS Project located in Alaska that is being advanced in
partnership with Dowa Metals & Mining Co., Ltd., Constantine has a pipeline of
other quality projects that includes: (1) the 100% owned Timmins area
Munro-Croesus Project, a past-producing mine property that yielded some of the
highest grade gold ever mined in Ontario and includes strategically located
claims immediately along trend from Lake Shore Gold Corp.'s Fenn-Gib gold
deposit (1.35 million ounces indicated and 0.75 million ounces inferred); (2)
the large Golden Mile property in the Timmins gold camp; and (3) the 50/50 Joint
Venture with Carlin Gold Corporation exploring a greater than 600 sq. km land
position in an emerging new Carlin-type gold district in Yukon. Since 2011,
there has been over $10 million spent by partners exploring Constantine's
projects. Please visit the Company's website (www.constantinemetals.com) for
more detailed company and project information.


On Behalf of Constantine Metal Resources Ltd.

Garfield MacVeigh

President

(i)  See the Company's technical report entitled, "Palmer VMS Project, Southeast
Alaska, Mineral Resource Estimation and Exploration Update" dated March 4, 2010
and available on www.sedar.com. Resource estimate utilizes an NSR cut-off of
US$50/t with assumed metal prices of US$700/oz for gold, US$12/oz for silver,
US$2.25/lb for copper, and US$0.85/lb for zinc, with estimated metal recoveries
of 55%, 55%, 90%, and 90% respectively. An "Inferred Mineral Resource is that
part of a Mineral Resource for which quantity and grade or quality can be
estimated on the basis of geological evidence and limited sampling and
reasonably assumed, but not verified, geological and grade continuity. Due to
the uncertainty that may be attached to Inferred Mineral Resources, it cannot be
assumed that all or any part of an Inferred Mineral Resource will be upgraded to
an Indicated or Measured Mineral Resource as a result of continued exploration.
Confidence in the estimate is insufficient to allow the meaningful application
of technical and economic parameters or to enable an evaluation of economic
viability worthy of public disclosure.


Notes:

Forward looking statements: This news release includes certain "forward-looking
information" within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively "forward looking
statements")." Forward-looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved and other similar expressions and includes the negatives
thereof. All statements other than statements of historical fact included in
this release, including, without limitation, statements regarding the expected.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those anticipated
in such statements. Forward-looking statements are based on a number of material
factors and assumptions. Important factors that could cause actual results to
differ materially from Company's expectations include actual exploration
results, changes in project parameters as plans continue to be refined, results
of future resource estimates, future metal prices, availability of capital and
financing on acceptable terms, general economic, market or business conditions,
uninsured risks, regulatory changes, defects in title, availability of
personnel, materials and equipment on a timely basis, accidents or equipment
breakdowns, delays in receiving government approvals, unanticipated
environmental impacts on operations and costs to remedy same, and other
exploration or other risks detailed herein and from time to time in the filings
made by the Company with securities regulators. Although the Company has
attempted to identify important factors that could cause actual actions, events
or results to differ from those described in forward-looking statements, there
may be other factors that cause such actions, events or results to differ
materially from those anticipated. There can be no assurance that
forward-looking statements will prove to be accurate and accordingly readers are
cautioned not to place undue reliance on forward-looking statements.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Constantine Metal Resources Ltd.
Garfield MacVeigh
President
604-629-2348


Constantine Metal Resources Ltd.
Darwin Green
VP Exploration
604-629-2348
info@constantinemetals.com
www.constantinemetals.com

Constantine Metal Resour... (TSXV:CEM)
過去 株価チャート
から 5 2024 まで 6 2024

Constantine Metal Resour... (TSXV:CEM)
過去 株価チャート
から 6 2023 まで 6 2024