Constantine Metal to spend $2.15 million on Palmer project in Alaska
Constantine Metal Resources (TSXV: CEM) announced that $2.15 million have been approved by the Constantine Mining LLC Joint Venture, of which it owns 51%, for exploration work at the Palmer zinc-copper-gold-silver project in southeast Alaska.
In detail, the company’s summer program includes fieldwork, environmental and project permitting work for future underground exploration development and continued outreach to keep the Haines Borough and the State of Alaska informed on project activities.
“Most of the fieldwork is planned for mid to late summer to reduce the concerns of covid-19 exposure and transmission with an emphasis on using local Haines employees for as much of the work as possible,” the company said in a media statement. “The new road to the underground exploration portal location provides access to several surface mineral prospects that have seen limited historical work. These include Jasper Mountain, Red Creek massive pyrite +/- sphalerite area, EM 37 Zone (12.0% Zn, 2.7% Pb, 47.6 g/t Ag in a 0.15-meter chip-channel sample) and the source area for the Christmas Creek quartz-sericite-pyrite plus barite float. The prospects will be evaluated for future drill targeting.”
Palmer is a high-grade volcanogenic massive sulphide-sulphate project located in coastal southeast Alaska. 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.
The project hosts two NI 43-101 compliant resources, the Palmer deposit and AG Zone deposit, with a total consolidated mineral resource of 4.68 million tonnes of 10.2% zinc equivalent in the indicated category and 9.59 million tonnes of 8.9% zinc equivalent in the inferred category. A preliminary economic assessment was completed in June 2019, which presents a low-capex, low-operating cost, high-margin underground mining operation with attractive environmental attributes.