Constantine Metal Resources (TSXV:CEM) has announced its 2018 exploration plans for the Palmer copper-zinc-silver-gold joint venture project in Southeast Alaska.
According to the company, it plans to begin a 10,000m diamond drill program using two rigs starting in early June, an updated mineral resource estimate and prelimary economic assessment study and to advance plans to initiate permitting underground exploration development.
Constantine’s 51 percent share of the joint venture budget to year end is approximately US$4.5 million.
As quoted in the press release:
Palmer is a high-grade volcanogenic massive sulfide-sulfate (VMS) project, with an inferred mineral resource of 8.1 million tonnes grading 1.41 percent copper, 5.25 percent zinc, 0.32 grams per tonne (g/t) gold and 31.7 g/t silver. The Project is being advanced as a joint venture between Constantine (51 percent) and Dowa Metals & Mining Co (49 percent), with Constantine as operator. 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.
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