Constantine JV receives OK for Palmer exploration plan

Aug 1, 2019

2019-07-31 10:35 ET – News Release

Mr. Garfield MacVeigh reports

CONSTANTINE RECEIVES APPROVAL FOR UNDERGROUND EXPLORATION PLAN OF OPERATIONS FOR THE PALMER PROJECT, SOUTHEAST ALASKA

Constantine Metal Resources Ltd.’s Constantine Mining LLC joint venture, of which Constantine owns a 51-per-cent interest, has received all the necessary approvals to proceed with an underground exploration plan for the Palmer zinc-copper-gold-silver project, southeast Alaska.

The approvals for this plan of operations submission include:

Excavation of approximately 2,000 metres of underground ramp to provide a drill platform for exploration and to provide access to gather additional geotechnical and hydrological data;
30,000 m of underground exploration drilling;
Placement on the surface of waste rock from underground excavation;
Construction and operation of sediment settling ponds and land application disposal system for the discharge of underground seepage waters;
Construction of other facilities necessary for the underground excavation and drill programs.

The plan of operations was prepared by Constantine Mining LLC and submitted to the Alaska Mental Health Trust Lands Office, the Alaska Department of Natural Resources and the Alaska Department of Environmental Conservation in December, 2018. Each entity is responsible for the review and approval of the specific elements of the plan pertinent to its interest and authority. The approvals for the plan of operations cover a waste management permit to manage waste water and waste rock issued by the Alaska Department of Environmental Conservation, approval for the reclamation plan issued by Alaska Department of Natural Resources and approval for the overall plan of operations by the Alaska Mental Health Trust, on whose land package the Palmer project is located.

“We would sincerely like to thank all those involved in the application, review, public comment and granting of this set of permits that will allow us to advance the Palmer zinc-copper project to the next phase,” commented president and chief executive officer Garfield MacVeigh. “From application to approval, the seven-month process is the culmination of input from many experts and interested stakeholders to formulate a responsible underground exploration plan.”

The Palmer joint venture (Constantine 51 per cent/Dowa 49 per cent) is targeting June, 2020, to commence the underground exploration work. A considerable amount of road access and other groundwork preparation has been completed that will allow an early start to underground construction in 2020. Final decision to proceed will require unanimous approval of the joint venture members and securing necessary financing.

About the Palmer project

Palmer is a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint venture between Constantine (51 per cent) and Dowa Metals & Mining Co Ltd. (49 per cent), with Constantine as operator. A recently completed preliminary economic assessment presents a low-capital-expenditure, low-operating-cost, high-margin underground mining operation with attractive environmental attributes (see news release dated June 3, 2019). 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 deepsea 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 project, there is abundant potential for discovery of multiple deposits at Palmer.

About Constantine Metal Resources Ltd.

Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on premier North American mining environments. The company’s flagship asset is the Palmer project, a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint venture between Constantine (51 per cent) and Dowa Metals & Mining Co. Ltd. (49 per cent), with Constantine as operator.

We seek Safe Harbor.

https://www.constantinemetals.com/