July 31, 2019 - Vancouver, BC – Constantine Metal Resources Ltd. (TSX-V:CEM) (OTCQX:CNSNF) (“Constantine” or the “Company”) is pleased to announce that the Constantine Mining LLC Joint Venture, of which Constantine owns a 51% 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 meters of underground ramp to provide a drill platform for exploration and to provide access to gather additional geotechnical and hydrological data;
- 30,000 meters 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 wastewater 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 & CEO, 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%/Dowa 49%) is targeting June 2020 to commence the underground exploration work. A considerable amount of road access and other ground-work 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 funding.
About the Palmer Project
Palmer is a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint venture between Constantine (51%) and Dowa Metals & Mining Co Ltd. (49%), with Constantine as operator. A recently completed Preliminary Economic Assessment presents a low capex, 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 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 Project, there is abundant potential for discovery of multiple deposits at Palmer.
About the Company
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%) and Dowa Metals & Mining Co., Ltd. (49%), with Constantine as operator. 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 visit the Constantine Metal Resources website at www.constantinemetals.com, or contact:
Vice President, Investor Relations
Phone: +1 604 629 2348, Ext 1413
Garfield MacVeigh, President
Phone: +1 604 629 2348
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 mineral resource estimate, potential mineralization and geological merits of the Palmer Project and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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 barite and 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.