viewConstantine Metal Resources Ltd.

Constantine drills 25 metres of 1.03 g/t gold on Trapper project in B.C.


Constantine Metal Resources (CVE:CEM) announced Tuesday the final results from its 2011 drill program on its wholly-owned Trapper gold project, located in northern British Columbia.

The program, which included 8,581 metres of drilling throughout 42 holes, was completed and funded by Ocean Park Ventures (CVE:OCP). Ocean Park can earn a 70 percent interest in the property by spending $9.75 million in work expenditures and by issuing certain cash and share considerations to Constantine.

Among the final results was hole TG-11-038, which intersected 147.5 metres grading 0.42 grams per tonne (g/t) gold and 1.99 g/t silver, including 25.0 metres at 1.03 g/t gold and 1.4 g/t silver, and 5.0 metres grading 4.37 g/t gold and 4.16 g/t silver.

Hole TG-11-039 returned 30.0 metres at 1.01 g/t gold and 2.35 g/t silver, including 1.95 g/t gold and 2.71 g/t silver over 7.5 metres. Meanwhile, hole TG-11-040 hit 30.0 metres at 1.09 g/t gold and 1.74 g/t silver, including 5.59 g/t gold and 3.05 g/t silver over 5.0 metres.

These results have confirmed a 2.3-kilometre strike length on the Main Gold zone, which remains open along strike and at depth. Grab samples on the zone have returned up to 14.05 g/t gold.

Additionally, drilling completed at the periphery of the Main Gold zone returned 2.5 metres at 2.47 g/t gold in hole TG-11-35, while hole TG-11-41 returned 9.8 metres at 0.19 g/t gold, 2.6 g/t silver, and 0.1 percent zinc.

Ocean Park is planning to drill test several targets during its 2012 drill program, which will include definition drilling of the gold-mineralized porphyry discoveries and gold-rich sulfide stockworks, which have demonstrated significant grade and size potential, Constantine said.

It also plans to drill test the core gold-copper porphyry complex located adjacent to the Main Gold zone.

Constantine is a gold and copper exploration company focused in North America. In addition to its Trapper gold project, it is exploring its wholly-owned Palmer project, located in southeast Alaska, which hosts an NI 43-101 compliant inferred resource estimate of 4.12 million tonnes grading 2.01 percent copper, 4.79 percent zinc, 0.3 g/t gold and 31.0 g/t silver; its wholly-owned Munro-Croesus project, located near Timmins, Ontario, which includes a past-producing mine that has yielded some of the highest grade gold ever mined in Ontario; and a 50-50 joint venture with Carlin Gold (CVE:CGD) that is focused on the exploration of a 1,000-square kilometre land position in the Yukon.

Quick facts: Constantine Metal Resources Ltd.

Price: 0.19 CAD

Market: TSX-V
Market Cap: $9.25 m

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on 31/7/19

3 min read