Constantine Metal drills 14 m of 163 g/t Ag at Palmer
2018-10-30 11:46 ET – News Release
Mr. Garfield MacVeigh reports
CONSTANTINE INTERSECTS WIDE INTERVALS OF PRECIOUS AND BASE-METAL MINERALIZATION AT ITS AG ZONE, PALMER PROJECT, ALASKA
Constantine Metal Resources Ltd. has released assay results for nine new drill holes from the AG zone at its Palmer joint venture project in Alaska. Expansion of the AG zone, discovered three kilometres southwest of the main Palmer deposit in 2017, has been one of the main goals of the company’s 10,000-metre 2018 summer exploration drill program.
New drilling at the AG zone has intersected wide intervals of precious-metal- and base-metal-rich massive barite sulphide mineralization in multiple drill holes and extended the overall strike length of the zone to over 550 metres. Key highlights include:
- 14.0 metres grading 163 grams per tonne silver, 0.5 g/t gold, 5.6 per cent zinc, 1.0 per cent lead and 60.7 per cent barite, including 4.1 metres grading 336 g/t silver, 0.6 g/t gold, 14.9 per cent zinc, 2.3 per cent lead and 67.0 per cent barite, in CMR18-125;
- 6.8 metres grading 247 g/t silver, 0.8 g/t gold, 5.5 per cent zinc, 2.8 per cent lead and 69.6 per cent barite as well as 34.4 metres grading 152 g/t silver, 0.4 g/t gold, 1.6 per cent zinc, 0.5 per cent lead and 63.6 per cent barite in CMR18-128;
- 33.5 metres grading 98 g/t silver, 0.4 g/t gold, 5.0 per cent zinc, 1.1 per cent lead, 0.2 per cent copper and 41.5 per cent barite in CMR18-130;
- 14.4 metres grading 23 g/t silver, 0.2 g/t gold, 5.5 per cent zinc, 0.2 per cent lead, 0.4 per cent copper, including 3.4 metres grading 44 g/t silver, 0.1 g/t gold, 10.8 per cent zinc, 0.2 per cent lead and 0.4 per cent copper, in CMR18-132.
Garfield MacVeigh, president, stated: “[The] AG zone continues to deliver impressive intersections of gold-silver-zinc-lead-barite mineralization. Drilling this season has more than doubled the strike length of the zone and it is developing into a significant deposit with excellent potential for further expansion. We are excited to commence an initial resource estimate for the AG zone, which will contribute to the total resource base of the Palmer project.”
AG zone drill results
A total of 16 drill holes were completed at AG zone during the 2018 drill program, with assays now received for 13 holes. A summary of all 2018 AG zone assays results received to date is provided in an attached table.
The new results expand the strike length of AG zone mineralization to over 550 metres and include multiple, thick, high-grade intersections of massive barite sulphide mineralization with excellent continuity between holes. This is well demonstrated by holes CMR18-125, CMR18-128, CMR18-130 and CMR18-132, which were completed on the same section at a nominal drill spacing of 50 metres over a total dip length of 150 metres. The four holes intersected cumulative widths of mineralization totalling 44.5 metres, 41.2 metres, 38.5 metres and 19.1 metres, respectively, and are located 50 metres along strike of previously released drill holes CMR18-109 (12.5 metres grading 217 g/t silver, 1.8 g/t gold, 5.2 per cent zinc, 0.7 per cent lead and 29.7 per cent barite) and CMR18-110 (28.8 metres grading 141 g/t silver, 0.49 g/t gold, 8.98 per cent zinc, 3.55 per cent lead and 21.5 per cent barite); see company news release dated Aug. 21, 2018.
AG ZONE ASSAY RESULTS
Drill hole From To Width Ag Au Zn Pb Cu BaSO4
(m) (m) (m) (g/t) (g/t) (%) (%) (%) (%)
CMR18-132 232.9 247.3 14.4 22.9 0.16 5.48 0.17 0.41 1.3
Including 234.8 238.2 3.4 44.2 0.13 10.79 0.18 0.36 1.7
And 243.9 247.3 3.4 12.2 0.33 7.72 0.19 1.02 0.5
CMR18-132 264.3 269.0 4.7 7.9 0.09 2.34 0.09 0.07 0.9
CMR18-130 230.3 263.8 33.5 97.9 0.39 4.97 1.11 0.22 41.5
Including 253.0 263.8 10.8 53.9 0.18 6.37 1.23 0.41 37.8
CMR18-130 272.1 273.1 1.0 11.0 0.09 6.79 0.02 0.23 0.6
CMR18-130 275.1 279.1 4.0 32.7 0.14 3.90 0.18 0.39 3.2
CMR18-128 243.4 250.2 6.8 247.4 0.79 5.46 2.79 0.06 69.6
CMR18-128 260.6 295.0 34.4 151.7 0.39 1.56 0.53 0.04 63.6
CMR18-125 242.7 256.7 14.0 162.7 0.48 5.58 1.04 0.10 60.7
Including 243.6 247.7 4.1 336.0 0.63 14.87 2.33 0.21 67.0
CMR18-125 283.6 314.1 30.5 5.2 0.05 2.49 0.08 0.06 0.9
Including 299.7 305.4 5.7 7.5 0.08 4.85 0.10 0.09 0.7
CMR18-124 No significant intersections
CMR18-120 No significant intersections
CMR18-118 No significant intersections (did not reach ore horizon)
CMR18-116 73.5 75.6 2.1 48.8 0.12 1.74 0.86 0.15 8.4
CMR18-116 121.1 124.0 2.9 13.5 0.09 1.77 0.78 0.02 2.8
CMR18-116 130.7 132.6 1.9 17.2 0.19 1.59 1.45 0.04 1.6
CMR18-116 347.2 349.8 2.6 1.0 0.02 2.31 0.03 0.03 0.0
CMR18-115 No significant intersections (diked out)
CMR18-114* 204.8 226.1 21.3 92.2 0.47 1.03 0.42 0.07 55
CMR18-112* No significant intersections
CMR18-110* 238.8 282.1 43.3 143.0 0.47 6.54 2.51 0.16 41.1
Including 253.3 282.1 28.8 141.0 0.49 8.98 3.55 0.24 21.5
CMR18-109* 203.6 208.4 4.8 435.9 1.25 3.59 1.61 0.10 61.6
CMR18-109* 219.2 231.7 12.5 217.0 1.81 5.2 0.72 0.27 29.7
Including 219.2 223.4 4.2 387.5 3.08 3.87 1.09 0.08 50.5
Notes:
Drill intercepts reported as core lengths; true widths are estimated to be approximately
80 per cent to 95 per cent of reported widths. Averages are weighted for length and
density, with selection of significant intersections based on geology and assays.
Barite (BaSO4) is included as a reportable commodity based on test work that shows a
premium-quality barite concentrate can be recovered as a byproduct from the polymetallic
ores at Palmer. * This denotes a previously reported intersection.
There is opportunity to expand the known mineralization of the AG zone to the northwest, southeast and at depth. Drill hole CMR18-116 extended the strike of the AG zone over 100 metres to the northwest, and the zone remains open to further expansion in this direction. This hole was drilled through thick overburden directly into bedrock consisting of strong footwall feeder-style mineralization; however, it overshot the targeted massive barite sulphide horizon that typically overlies feeder-style mineralization. Follow-up drill hole CMR18-118 also failed to test the targeted mineral horizon, remaining entirely within unaltered hangingwall stratigraphy. At the far southeast end of the AG zone, drill hole CMR18-115 intersected a postmineralization mafic dike over a core length of 80 metres at the depth of the projected target horizon. It is inferred that the hole was drilled subparallel to the mafic dike and the mineralized zone remains open to expansion in this area and farther to the southeast.
Collectively, the drilling at the AG zone now defines a thick lens of massive barite sulphide with potential to add significant tonnage to the total mineral resource base for the Palmer project. Constantine intends to commence an initial resource at the AG zone for inclusion in the preliminary economic assessment study that is currently under way. The proximity of the AG zone to the main Palmer deposit and existing access infrastructure enhance the opportunity for the AG zone to make a positive contribution to the project. Excellent potential also exists for additional future resource expansion at the AG zone and elsewhere on the district-scale property.
Drill program summary
The Palmer project drill program totalled 29 holes for 10,364 metres between early June and late September. Sixteen holes for 5,776 metres were completed at the AG zone, with the rest divided between resource and exploration drilling within the South Wall area (seven holes for 2,822 metres), reconnaissance drilling at the Boundary prospect (four holes for 1,370 metres) and geotechnical drilling to support future underground exploration (two holes for 400 metres). Results for outstanding drill holes will be summarized and released together pending receipt of final assays.
About the Palmer project
Palmer is an advanced-stage, high-grade volcanogenic massive sulphate/sulphide (VMS) project, with an indicated mineral resource of 4.7 million tonnes grading 3.84 per cent copper equivalent (11.67 per cent zinc equivalent) and an inferred mineral resource of 5.3 million tonnes grading 3.26 per cent copper equivalent (9.9 per cent zinc equivalent). The project is being advanced as a joint venture between Constantine (51 per cent) and Dowa (49 per cent), 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 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 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 Constantine Metal Resources Ltd.
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-per-cent-owned gold projects that the company intends to spin out. These include the very high-grade Johnson Tract gold-silver-zinc-copper-lead deposit, located in coastal south-central Alaska (see the company’s news release dated June 19, 2018), and exploration projects in the Timmins camp in 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.
Notes
Samples of drill core were cut by a diamond blade rock saw, with half of the cut core placed in individual sealed polyurethane bags and half placed back in the original core box for permanent storage. Sample lengths typically vary from a minimum 0.3-metre interval to a maximum 2.0-metre interval, with an average 1.0-metre-to-1.5-metre sample length. Drill core samples were shipped by transport truck in sealed woven plastic bags to ALS Minerals laboratory facility in Kamloops, B.C., for sample preparation and North Vancouver, B.C., for analysis. ALS Minerals operate according to the guidelines set out in ISO/IEC Guide 25. Gold was determined by fire-assay fusion of a 30-gram subsample with atomic absorption spectroscopy (AAS). Various metals, including silver, gold, copper, lead and zinc, were analyzed by inductively coupled plasma (ICP) atomic emission spectroscopy following multiacid digestion. The elements silver, copper and zinc were determined by ore-grade assay for samples that returned values over 10,000 parts per million by ICP analysis. Barium (BaO) analysis utilized lithium borate fusion into fused discs for XRF (X-ray fluorescence) analyses, with BaO converted to BaSO4 (barite) using a conversion factor of BaO multiplied by 1.52217. Density measurements were determined at the project site by qualified Constantine staff on cut core for each assay sample.
The 2018 exploration program for the Palmer project is managed by Darwin Green, PGeo, vice-president, exploration, for Constantine and a qualified person as defined by National Instrument 43-101. Mr. Green has reviewed the information contained in this news release and has also verified the analytical data for drill core samples disclosed in this release by reviewing the blanks, duplicates and certified reference material standards and confirming that they fall within limits as determined by acceptable industry practice. The analytical results have also been compared to visual estimates for the base metals to check for any obvious discrepancies between analytical results and the visual estimates.
We seek Safe Harbor.
http://constantinemetals.com/news/2018/
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