Constantine Announces Palmer Project Manager/Principal Engineer for the Palmer Copper-Zinc-Silver-Gold Project, Southeast Alaska

0

Receive instant alerts when news is published about your stocks. Claim your one week free trial for StreetInsider Premium here.


Vancouver, British Columbia–(Newsfile Corp. – June 6, 2022) – Constantine Metal Resources Ltd. (TSXV: CEM) (“Constantine” or the “Company”) is pleased to announce the appointment of Ernst (Ernie) Siemoneit to the position of Palmer Project Manager/Principal Engineer for the Copper-Zinc-Silver- or Palmer in Southeast Alaska.

Ernie is based in Fairbanks, Alaska and brings over 30 years of combined management, mining engineering and operations experience with extensive knowledge of underground mine design, technical support, mining systems reporting and continuous improvement processes. His experience includes managing technical and financial teams, contractors for mine engineering, underground development, mine construction, plant commissioning, pre-production development and ramp-up of the production. Ernie was until recently Chief Mining Engineer at the Pogo Gold Mine (“Pogo”) located east-southeast of Fairbanks, Alaska with Northern Star Resources. At Pogo, he led a site projects team of four engineers supporting improvements and expansion of the Pogo mine to a 300,000 ounce per year gold producer.

“We are very pleased to welcome Ernie Siemoneit, a very talented and experienced professional engineer from Alaska, to manage and lead the Palmer project through to feasibility,” commented Constantine President and CEO MacVeigh. . “Ernie’s extensive underground experience as the Palmer Project prepares for underground exploration and feasibility will be of considerable value to Constantine Mining LLC, a joint venture between Constantine Metal Resources Ltd. and Dowa Metals & Mining Co. ., ltd.”

Ernie commented: “I am grateful to have been chosen by the Constantine management team to lead the Palmer project through the current feasibility process. As an Alaskan, former commercial fisherman and miner, I understand the need to plan and conduct ourselves in a manner that provides best practices for workplace safety, community understanding, and environmental protection.Great teamwork and communication effort is required to take advantage of the past experience and making the Palmer Project a success. I look forward to playing a major role in this exciting and challenging process over the next several years.”

About Palmer

Palmer is a high-grade volcanogenic massive sulphide-sulfate (“VMS”) project located in a highly accessible part of the southeast coast of Alaska, with road access to the project and less than 60 kilometers from the port in Deep water open year round from Haines.

In 2019, the Company reported a positive Preliminary Economic Assessment (“2019 PEA”) for the Project with an after-tax NPVseven% $266 million (see the company’s press release dated June 3rd2019). The PEA 2019 has been amended, and replaced by, a technical report dated March 7, 2022, and entitled “Modified NI 43-101 Technical Report Palmer Project Alaska, USA” (the “Amended PEA”) and filed on SEDAR (www.sedar.com) on March 11, 2022 (see press release dated March 11, 2022). The amended PEA highlighted the potential for low capital expenditure, low operating cost and high margin underground mining with attractive environmental attributes. Metal prices used were copper at $2.82/lb, zinc at $1.22/lb, silver at $16.26/oz, gold at $1,296/oz and barite at $220/ton.

The Amended PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too geologically speculative to have economic considerations applied to them that would allow them to be classified as Mineral Reserves. There is no certainty that the results of the amended PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Exploration work at Palmer has revealed 4.68 million tons of indicated resources grading 5.23% zinc, 1.49% copper, 30.0 g/t silver, 0.30 g/t gold and 9.6 million tons of inferred resources grading 4.95% zinc, 0.59% copper, 69.3 g/t silver, 0.39 g/t gold1. VMS deposits are known to occur in clusters, and with at least twenty-five distinct occurrences and prospects of base metals and/or barite on the project, there is abundant potential for the discovery of multiple deposits.

Declaration of qualified person

The technical information contained in this press release has been reviewed and approved by Michael Vande Guchte, P.Geo., VP Exploration for Constantine Metal Resources Ltd. and a qualified person as defined by National Instrument 43-101, Disclosure standards for mining projects.

About the company

Constantine is a mining exploration company led by an experienced and proven technical team focused on the Palmer copper-zinc-silver-gold-barite project being developed as a joint venture between Constantine and Dowa Metals & Mining Co. , Ltd., with Constantin as operator.

In 2019, Constantine successfully disposed of its gold assets to HighGold Mining Inc., which included the high-grade Johnson Tract project in south-central Alaska and the Munro-Croesus Gold property, known for its high-grade mineralization. in the Timmins area. , Ontario.

In 2020, the 100% owned Big Nugget Gold Project, located 8 kilometers east of our flagship Palmer Project, was recognized as a potential source area for gold veins, immediately upstream of historic Porcupine Gold operations Place and is an attractive drill target opportunity.

In 2021, Constantine announced the acquisition of the Bouse Cu-Au property in southwestern Arizona and the Hornet Creek Cu-Au property in west-central Idaho, and earlier this year announced the acquisition of the Yuma King Cu-Au property in southeastern Arizona.

Management is committed to delivering shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mining exploration and development activities that support local jobs and businesses .

Please visit the company’s website (www.constantinemetals.com) for more detailed information about the company and the project.

On behalf of Constantine Metal Resources Ltd.

“Garfield McVeigh”

President

For more information, please contact:
Garfield MacVeigh, President or Michael Vande Guchte, VP Exploration
Phone: 604-629-2348. E-mail: [email protected]

1 For further details on the project’s mineral resource estimate, including the quality assurance program and quality control measures applied and the key assumptions, parameters and methods used to estimate the mineral resources, please refer to refer to the technical report entitled “NI 43-101 Technical Report and Resource Estimate Updated to Include the AG Zone for the Palmer Exploration Project” dated December 18, 2018 (the “Palmer Technical ReportThe Palmer Technical Report is available on the Company’s issuer profile on SEDAR at www.sedar.com. Reported mineral resources are undiluted. Mineral resource tonnages have been rounded to reflect the accuracy of the estimate. Readers are cautioned that Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Remarks:

Forward-Looking Statements: This press release contains certain “forward-looking information” within the meaning of Canadian securities laws 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’, ‘timeline’, budget’ and ‘intention’ and statements that an event or outcome ‘may’, ‘ will”, “should”, “might” or “might” occur or be achieved and other similar expressions and include their negatives. All statements other than statements of historical fact included in this release, including, without s there limit, statements regarding the appointment of Ernst Siemoneit, preparation for future underground exploration and the feasibility of the Palmer project. 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 factors and assumptions. Important factors that could cause actual results to differ materially from the Company’s expectations include the availability of contractors, actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and funding on terms, general economic, market or business conditions, uninsured risks, regulatory changes, title defects, availability of personnel, materials and equipment in a timely manner, accidents or equipment failures, delays in receiving government approvals, unforeseen environmental impacts on operations and costs to address them, and other exploration or other risks detailed herein and from time to time in documents filed by the Company with s 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 the forward-looking statements, there may be other factors that cause such actions, events or results differ significantly from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and, therefore, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126562

Share.

Comments are closed.