Mining News: Palmer deposit growth continues

Constantine Metal Resources Ltd. Oct. 2 reported additional high-grade zinc and copper intercepts in four holes drilled to upgrade and expand the resource at the South Wall zone of the Palmer project in Southeast Alaska. According to a 2015 calculation, the South Wall and RW zones at Palmer host 8.125 million metric tons of inferred resources in the averaging 5.25 percent (940.4 million pounds) zinc, 1.41 percent (252.6 million lb) copper, 0.32 grams per metric ton (83,600 ounces) gold and 31.7 g/t (8.3 million oz) silver. Most of this resource is located within South Wall, three nearly vertical zones of volcanogenic massive sulfide mineralization. Earlier this year, Constantine reported intervals of massive sulfide rich in copper and zinc from three holes drilled into a poorly tested area along the western edge of South Wall. Highlights from those holes include: 45.4 meters grading 2.5 percent copper, 7.4 percent zinc, 39 g/t silver and 0.3 g/t gold; 18.7 meters grading 2.3 percent copper, 6.9 percent zinc, 33 g/t silver and 0.3 g/t gold; and 14.3 meters grading 0.4 percent copper, 7.6 percent zinc, 45 g/t silver, 0.3 g/t gold. Step-outs from these holes continue to tap wide zones of zinc and copper. Highlights from this latest batch of South Wall expansion drilling include: 20.9 meters grading 8.4 percent zinc, 0.1 percent copper, 40 g/t silver and 0.2 g/t gold; 14.5 meters grading 7.5 percent zinc, 1.9 percent copper, 66 g/t silver and 0.4 g/t gold; 10.1 meters grading 8.5 percent zinc, 0.5 percent copper, 57 g/t silver and 0.4 g/t gold; and 12.8 meters grading 12 percent zinc, 0.5 percent copper, 64 g/t silver and 0.7 g/t gold. Collectively, the six 2017 holes that tested this western extension of South Wall have defined a thick new high-grade sub-zone of mineralization over a vertical dip length of approximately 150 meters and over a strike length of approximately 60 meters, which is open to expansion. The average cumulative drill width of mineralization in each of the six holes is greater than 20 meters, with a length weighted average of 1.6 percent copper, 7.5 percent zinc, 43.1 g/t silver and 0.32 g/t gold. “Past drill-holes missed the main part of the ore lens in the current area of drilling, and there is excellent potential to continue adding high-grade resources with additional drilling to the west,” said Constantine President and CEO Garfield MacVeigh. The 2017 Palmer exploration program included 10,718 meters of drilling focused both on resource expansion and regional exploration. Roughly half of this drilling targeted the AG zone, a high-grade silver discovery about 3,000 meters south of the South Wall-RW deposit. CMR17-89, the discovery hole at AG, cut 9.2 meters of massive barite-sulfide averaging 312 grams (10 troy ounces) per metric ton silver and 0.9 g/t gold. Further drilling at AG encountered zinc, lead and copper; and additional intercepts of high-grade silver. Assay results are pending for multiple holes drilled at this exciting discovery. “The 2017 program has been a tremendous success at meeting our two stated objective – expansion and upgrade of the South Wall resource, and discovery of new mineral deposits,” said MacVeigh.

-SHANE LASLEY