White Rock, B.C. – Constantine Metal Resources Ltd (TSX Venture- CEM) (the “Company”) is pleased to announce partial analytical results from the recently completed portion of the Phase 1 drill program on its high-grade, polymetallic massive sulphide Palmer project near Haines, Alaska..
Two of the three holes completed intersected high-grade zinc values in the RW Zone. Hole CMR06-01 intersected 5.12 meters grading 10.86% zinc, 0.13% lead, 0.23% copper, 0.134 g/t gold and 44.4 g/t silver, while hole CMR06-02 contained 19.5% zinc over 0.79 metres of which 0.37 meters was recovered. An underlying pyrite-sphalerite stringer zone in hole CMR06-02 assayed 1.02% Zn over 16.61 meters. Hole CMR06-01 is located 60 meters north of the near surface oxidized intersection in hole RMC98-03 and is the first hole to confirm the interpretation that the leached and oxidized near surface mineralization represents high-grade sulphide mineralization. This highlights the potential of the RW and Main Zones oxide elsewhere. Hole CMR06-02 is located an additional 50 meters north of hole CMR06- 01 and establishes a minimum north-south extent of the RW zone oxide and sulphide mineralization on this section of 220 meters. The RW Zone is now indicated over a total east-west extent of 800 metres and a 375 meter north-south distance. More drilling is required to determine the continuity of mineralization within this area and to expand on the extent of the mineralization that remains open.
Drill hole CMR06-02 tested for the stratigraphically lower and deeper Main Zone horizon and intersected 2 wide intervals of stringer mineralization and alteration that may represent this zone. Hole CMR06-03 tested the RW horizon 120 meters west of hole CMR06-01 and contained an interval of rhyolite hosted massive pyrite stringers within the RW horizon. Analytical results for the lower portion of hole CMR06- 02 and all of hole CMR06-03 are pending.
The Phase 1 drilling program started in early August, concurrent with the completion of the company’s IPO and listing on the TSX Venture Exchange and was terminated on September 14th, 2006. Only 829 meters of the planned 2400 meter Phase 1 drill program was completed prior to terminating the program prematurely due to poor drill productivity.
Surface geology and soil sampling was completed over selected parts of the property to establish and refine additional drill targets. Some of this work was directed to identifying lower elevation targets that will allow an extended drill season in 2007. After receipt of all analytical results the company will further report on the geological interpretation and potential for the various zones within the Palmer project area. The 2006 drilling has confirmed the presence of potentially ore grade mineralization indicated in prior drilling and outcrop and continues to outline the significance of the Glacier Creek prospect; one of several high quality prospects on the Palmer property.