89m 5% zinc newsSections Globe Investor NEWS SOURCES Constantine Intersects 89 Meters of 5.0% Zinc, 0.8% Copper, 21 g/t Silver and 0.3 g/t Gold at the Palmer VMS Project, Alaska Press release from Marketwire Monday, September 29, 2014 Constantine Intersects 89 Meters of 5.0% Zinc, 0.8% Copper, 21 g/t Silver and 0.3 g/t Gold at the Palmer VMS Project, Alaska 08:50 EDT Monday, September 29, 2014 VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 29, 2014) - Constantine Metal Resources Ltd. (TSX VENTURE:CEM) ("Constantine" or the "Company") is pleased to provide an update on the 10,000 meter drill program on the Palmer VMS Project, Alaska ("Palmer" or "Project") that is host to a 4.75 million tonne inferred resource estimate grading 1.84% copper, 4.57% zinc, 0.28 g/t gold and 29 g/t silver*. Step-out drilling continues to make important expansions to the South Wall Zone ("South Wall") both laterally and to depth. Assay results are reported for nine new drill holes, including CMR14-65 which has yielded the widest intersection drilled to date - 89 meters grading 0.79% copper, 5.03% zinc, 21.1 g/t silver and 0.32 g/t gold. True width is estimated to be 70 percent of drilled width. Highlights Summary Hole CMR14-65 tested the eastern edge of the South Wall EM conductor target ("EM plate"; Figure 1) - a 400 meter by 400 meter target area modelled from borehole geophysical data that is on-trend from the known resource. The center of the intersection is located approximately 50 meters east and 50 meters vertically above the CMR14-54 intersection reported July 22nd, 2014 that returned 22.1 meters grading 2.48% copper, 4.05% zinc, 24.0 g/t silver and 0.39 g/t gold. Garfield MacVeigh, President and CEO states; "CMR14-65 is an exceptionally wide massive sulphide intersection located adjacent to the thick, high-grade intersection in CMR14-54. Combined, these holes indicate the presence of a significant zone of thick massive sulphide that is open to expansion in multiple directions. The Palmer Project is in the exciting resource expansion stage, and the ability to rapidly build tonnes has been well demonstrated with the ongoing success of the 2014 drill program." A total of five holes have tested the EM plate as part of the 2014 program, testing less than 25% of the total EM plate target area. Significant mineralization has been intersected in all five holes (see Table 1 and Figure 1) and confirm that the EM plate is associated with a well-developed zone of massive sulphide mineralization. New results reported in this release extend the South Wall Zone a further 100 meters west and 50 meters lower in elevation. South Wall mineralization has now been defined over a vertical distance of greater than 650 meters, and 500 meters along strike. Drilling has also intersected a wide zone of zinc-copper mineralization in hole CMR14-59 (West Extension target) above the EM plate that extends the South Wall to the west and demonstrates the potential to expand mineralization well beyond conductive plate targets. Collectively, the 2014 drill results define a laterally and vertically extensive mineralized zone with the ability to generate very significant width and grade. Drilling is ongoing to expand these exciting new areas of mineralization. Table 1. Assay Results for South Wall EM Plate and West Extension Targets Drill Hole From To Width** Width Cu Zn Pb Ag Au South Wall Target (feet) (feet) (feet) (meters) % % % (g/t) (g/t) CMR14-53* 1686.4 1689.6 3.3 1.0 0.36 5.46 0.30 18.5 0.07 EM plate CMR14-53* 1706.7 1715.2 8.5 2.6 1.53 1.34 0.01 18.0 0.10 EM plate CMR14-54* 1659.4 1732 72.5 22.1 2.48 4.05 0.02 24.0 0.39 EM plate Includes 1659.4 1685 25.6 7.8 0.76 7.51 0.03 26.4 0.40 EM plate Includes 1685 1714.2 29.2 8.9 3.76 3.23 0.01 27.4 0.42 EM plate CMR14-56 did not reach target depth - anomalous drill cuttings @ end of hole (e.g. 12.7 g/t Ag, 0.38% Zn) CMR14-58 2289.7 2299.2 9.5 2.9 0.08 5.62 0.01 2.0 0.01 EM plate CMR14-58 2539.4 2541.3 2 0.6 2.79 0.04 <0.01 13.2="" 0.18="" em="" plate="" cmr14-59="" 991.8="" 1042.3="" 50.5="" 15.4="" 1.03="" 2.88="" 0.03="" 21.0="" 0.16="" west="" extension="" includes="" 991.8="" 1005.9="" 14.1="" 4.3="" 0.62="" 4.80="" 0.02="" 23.8="" 0.21="" west="" extension="" includes="" 1020.7="" 1042.3="" 21.7="" 6.6="" 1.62="" 2.89="" 0.04="" 27.2="" 0.19="" west="" extension="" cmr14-63="" 1535.8="" 1645="" 109.3="" 33.3="" 0.11="" 1.70="" 0.06="" 12.7="" 0.10="" em="" plate="" includes="" 1535.8="" 1541="" 5.2="" 1.6="" 0.21="" 5.69="" 0.33="" 58.4="" 0.35="" em="" plate="" includes="" 1640.1="" 1647="" 6.8="" 2.1="" 0.40="" 8.22="" 0.11="" 33.1="" 0.65="" em="" plate="" cmr14-63="" 1675.5="" 1696.2="" 20.4="" 6.3="" 0.53="" 0.69="" 0.02="" 5.8="" 0.11="" em="" plate="" cmr14-65="" 1355.0="" 1647.0="" 292="" 89="" 0.79="" 5.03="" 0.05="" 21.1="" 0.31="" em="" plate="" includes="" 1355.0="" 1405.5="" 50.5="" 15.4="" 0.51="" 7.92="" 0.12="" 51.4="" 0.32="" em="" plate="" includes="" 1493.1="" 1580.4="" 87.3="" 26.6="" 1.03="" 7.84="" 0.02="" 21.1="" 0.51="" em="" plate="" includes="" 1556.1="" 1580.4="" 24.3="" 7.4="" 2.05="" 10.23="" 0.02="" 34.3="" 1.13="" em="" plate="" all="" averages="" are="" weighted="" for="" length="" and="" density.="" *="" indicates="" previously="" reported="" results.="" **="" drill="" intercepts="" reported="" as="" core="" lengths;="" true="" widths="" are="" estimated="" to="" be="" approximately="" 65%="" to="" 85%="" of="" reported="" widths.="" not="" included="" in="" table="" 1="" are="" two="" holes="" (cmr14-55="" and="" cmr14-61)="" that="" were="" designed="" to="" test="" reconnaissance="" targets="" within="" a="" one="" kilometer="" radius="" of="" the="" south="" wall="" resource,="" and="" two="" holes="" (cmr14-57="" and="" cmr14-60)="" that="" targeted="" 100="" meter="" step-outs="" off="" the="" lower="" eastern="" edge="" of="" the="" south="" wall="" resource.="" no="" significant="" zones="" of="" mineralization="" were="" intersected="" in="" these="" holes.="" the="" drill="" program="" is="" part="" of="" a="" us$6.2="" million="" budget="" for="" 2014="" funded="" by="" partner="" dowa="" metals="" &="" mining="" co.,="" ltd.="" of="" japan="" ("dowa")="" that="" also="" includes="" road="" construction="" and="" environmental="" and="" geotechnical="" programs.="" dowa="" are="" in="" the="" second="" year="" of="" an="" option="" agreement="" in="" which="" they="" can="" earn="" 49%="" in="" the="" palmer="" project="" by="" making="" aggregate="" expenditures="" of="" us$22="" million="" over="" four="" years.="" constantine="" is="" operator="" for="" the="" work="" programs.="" discussion="" of="" drill="" plan="" and="" results="" the="" 2014="" exploration="" program="" plans="" for="" a="" minimum="" of="" 10,000="" meters="" of="" drilling,="" of="" which="" approximately="" 6,913="" meters="" in="" 11="" holes="" have="" been="" completed="" and="" reported="" on="" to="" date.="" the="" objective="" of="" the="" program="" is="" to="" increase="" inferred="" mineral="" resources="" and="" expand="" the="" footprint="" of="" the="" mineralized="" system.="" the="" program="" does="" not="" include="" definition="" or="" in-fill="" type="" drilling.="" three="" to="" four="" drills="" have="" been="" active="" on="" the="" project="" since="" late="" may,="" utilizing="" a="" coarse="" grid="" pattern="" with="" nominal="" 100="" meter="" step-outs.="" hole="" deviation="" has="" resulted="" in="" larger,="" or="" smaller,="" step-outs="" than="" planned="" for="" some="" holes,="" as="" for="" example="" occurred="" with="" hole="" cmr14-63="" that="" intersected="" the="" em="" plate="" approximately="" 100="" meters="" further="" up-dip="" than="" planned.="" south="" wall="" em="" target="" drilling="" to="" date="" has="" only="" tested="" the="" upper="" east="" portion="" of="" the="" em="" plate="" model.="" holes="" have="" confirmed="" that="" the="" conductive="" plate="" is="" associated="" with="" a="" well-developed="" zone="" of="" massive="" sulphide="" mineralization="" and="" there="" is="" considerable="" potential="" to="" expand="" mineral="" resources.="" the="" 89="" meter="" intersection="" in="" hole="" cmr14-65="" near="" the="" eastern="" edge="" of="" the="" em="" plate="" consists="" of="" alternating="" layers="" of="" semi-massive="" to="" massive="" barite-sulphide="" (sphalerite-chalcopyrite-pyrite-pyrrhotite)="" and="" mineralized="" cherty="" breccia="" with="" approximately="" 15%="" cross-cutting="" mafic="" dykes.="" the="" majority="" of="" the="" intersection="" is="" non-conductive="" barite-sphalerite="" dominant="" mineralization,="" with="" the="" lowermost="" 15.7="" meters="" consisting="" of="" massive="" chalcopyrite-pyrite-pyrrhotite="" dominant="" mineralization="" that="" correlates="" with="" the="" modelled="" em="" conductor.="" no="" significant="" copper-rich="" feeder="" zone="" was="" intersected="" in="" cmr14-65,="" which="" suggests="" drilling="" has="" yet="" to="" test="" the="" central,="" vent-proximal="" portion="" of="" the="" system="" in="" this="" area.="" hole="" cmr14-63="" successfully="" intersected="" a="" 33.3="" meter="" wide="" zone="" at="" the="" upper="" edge="" of="" the="" em="" plate="" and="" approximately="" 100="" meters="" west="" of="" cmr14-53.="" the="" intersection="" has="" a="" mineral="" assemblage="" which="" is="" interpreted="" to="" be="" distal="" in="" character,="" with="" multiple="" layers="" of="" well="" mineralized="" chert="" and="" massive="" barite-sulphide="" interlayered="" with="" more="" weakly="" mineralized="" sedimentary="" units="" and="" tuff.="" hole="" cmr14-58="" intersected="" an="" incomplete="" section="" of="" the="" mineralized="" horizon="" in="" the="" central="" eastern="" portion="" of="" the="" em="" plate="" with="" a="" probable="" fault="" displacement="" of="" the="" zone.="" a="" sixth="" hole="" (cmr14-56)="" targeting="" a="" down-dip="" 200="" meter="" step-out="" on="" the="" em="" plate="" (approximately="" 800="" meters="" vertical="" depth)="" was="" abandoned="" due="" to="" drilling="" difficulties="" before="" reaching="" the="" target.="" unable="" to="" advance="" further="" by="" core="" drilling,="" a="" tri-cone="" bit="" was="" utilized="" over="" the="" last="" 10="" meters="" of="" the="" hole,="" with="" the="" hope="" of="" returning="" to="" core="" after="" penetrating="" through="" the="" difficult="" ground.="" drill="" cuttings="" from="" the="" tri-cone="" drilling="" returned="" sulphidic="" chert="" fragments="" with="" strongly="" anomalous="" metal="" values="" (e.g.="" up="" 12.7="" g/t="" silver="" and="" 0.38%="" zinc).="" it="" is="" interpreted="" that="" cmr14-56="" may="" have="" been="" approaching="" the="" uppermost="" part="" of="" the="" mineralized="" horizon="" before="" the="" hole="" was="" prematurely="" abandoned.="" south="" wall="" west="" extension="" target="" hole="" cmr14-59="" successfully="" intersected="" western="" extensions="" of="" the="" south="" wall="" (zone="" ii/iii)="" with="" 15.4="" meters="" grading="" 1.03%="" copper="" and="" 2.88%="" zinc.="" this="" intersection="" is="" located="" approximately="" 90="" meters="" west="" and="" 60="" meters="" below="" a="" 4.82="" meter="" intersection="" grading="" 0.85%="" copper="" and="" 21.62%="" zinc="" (hole="" cmr08-17).="" the="" zone="" remains="" open="" to="" further="" expansion="" to="" the="" west="" reconnaissance="" targets="" a="" portion="" of="" the="" drilling="" has="" been="" dedicated="" to="" testing="" reconnaissance="" targets.="" this="" includes="" targets="" to="" the="" east="" and="" north="" of="" the="" south="" wall="" resource,="" as="" well="" as,="" to="" the="" northwest="" of="" the="" rw="" zone="" where="" a="" drill="" is="" currently="" in="" operation="" targeting="" an="" area="" down-dip="" of="" the="" high-grade="" little="" jarvis="" showing="" (~1="" km="" northwest="" of="" the="" south="" wall="" resource).="" plans="" to="" test="" other="" prospects="" such="" as="" cap="" and="" mhc="" have="" been="" postponed="" until="" 2015="" due="" to="" a="" shift="" in="" priority="" following="" the="" discovery="" of="" thick,="" high-grade="" massive="" sulphide="" at="" the="" south="" wall="" em="" plate="" target.="" geophysics="" borehole="" geophysical="" survey="" work="" has="" been="" added="" to="" the="" 2014="" exploration="" program="" with="" the="" objective="" of="" both="" refining="" and="" expanding="" the="" em="" plate="" for="" the="" conductive="" portion="" of="" this="" new="" deep="" zone="" of="" mineralization.="" based="" on="" data="" from="" other="" parts="" of="" the="" mineral="" deposit,="" the="" conductive="" part="" of="" the="" zone="" typically="" correlates="" with="" the="" core,="" or="" vent-proximal,="" portion="" of="" the="" massive="" sulphide="" lens,="" whereas="" non-conductive="" mineralization="" may="" extend="" considerable="" distance="" laterally="" from="" the="" vent="" center.="" drilling="" at="" the="" em="" plate="" target="" has="" yet="" to="" identify="" a="" strong="" footwall="" feeder="" zone="" like="" that="" observed="" for="" south="" wall="" zone="" i,="" where="" hole="" cmr08-14="" intersected="" 46.4="" meters="" grading="" 2.92%="" copper="" and="" 2.98%="" zinc,="" over="" a="" third="" of="" which="" consisted="" of="" feeder="" style="" stringer="" mineralization.="" about="" the="" palmer="" project="" palmer="" is="" an="" early="" resource="" expansion="" stage,="" high-grade="" volcanogenic="" massive="" sulphide="" (vms)="" project="" that="" hosts="" a="" 4.75="" million="" tonne="" inferred="" resource="" estimate="" grading="" 1.84%="" copper,="" 4.57%="" zinc,="" 0.28="" g/t="" gold="" and="" 29.0="" g/t="" silver*.="" 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="" kilometres="" 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.="" by="" the="" end="" of="" 2014="" constantine="" will="" have="" more="" than="" doubled="" the="" number="" of="" holes="" drilled="" since="" the="" maiden="" resource="" estimate="" was="" calculated,="" with="" the="" majority="" of="" the="" drilling="" consisting="" of="" step-outs="" from="" the="" known="" resource.="" there="" are="" at="" least="" 25="" separate="" base="" metal="" and/or="" barite="" occurrences="" and="" prospects="" on="" the="" palmer="" property,="" indicating="" the="" potential="" for="" discovery="" of="" multiple="" deposits.="" about="" the="" company="" constantine="" is="" a="" mineral="" exploration="" company="" with="" a="" focus="" on="" premier="" north="" american="" mining="" environments.="" in="" addition="" to="" the="" flagship="" palmer="" copper-zinc-silver-gold="" vms="" project="" located="" in="" alaska="" that="" is="" being="" advanced="" in="" partnership="" with="" dowa="" metals="" &="" mining="" co.,="" ltd.,="" constantine="" has="" a="" pipeline="" of="" other="" quality="" projects="" that="" includes:="" (1)="" the="" 100%="" owned="" timmins="" area="" munro-croesus="" project,="" a="" past-producing="" mine="" property="" that="" yielded="" some="" of="" the="" highest="" grade="" gold="" ever="" mined="" in="" ontario="" and="" includes="" strategically="" located="" claims="" immediately="" along="" trend="" from="" lake="" shore="" gold="" corp.'s="" fenn-gib="" gold="" deposit="" (1.35="" million="" ounces="" indicated="" and="" 0.75="" million="" ounces="" inferred);="" (2)="" the="" large="" golden="" mile="" property="" in="" the="" timmins="" gold="" camp;="" and="" (3)="" the="" 50/50="" joint="" venture="" with="" carlin="" gold="" corporation="" exploring="" a="">600 sq. km land position in an emerging new Carlin-type gold district in Yukon. Since 2011, there has been over $12.7 million spent by partners exploring Constantine's projects. Please visit the Company's website (www.constantinemetals.com) for more detailed company and project information. On Behalf of Constantine Metal Resources Ltd. Garfield MacVeigh, President * See the Company's technical report entitled, "Palmer VMS Project, Southeast Alaska, Mineral Resource Estimation and Exploration Update" dated March 4, 2010 and available on www.sedar.com. Resource estimate utilizes an NSR cut-off of US$50/t with assumed metal prices of US$700/oz for gold, US$12/oz for silver, US$2.25/lb for copper, and US$0.85/lb for zinc, with estimated metal recoveries of 55%, 55%, 90%, and 90% respectively. An "Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Notes: Samples of drill core were cut by a diamond blade rock saw, with half of the cut core placed in individual sealed polyurethane bags and half placed back in the original core box for permanent storage. Sample lengths typically vary from a minimum 0.3 meter interval to a maximum 2.0 meter interval, with an average 1.0 to 1.5 meter sample length. Drill core samples were shipped by transport truck in sealed woven plastic bags to ALS Minerals laboratory facility in North Vancouver for analysis. ALS Minerals operate according to the guidelines set out in ISO/IEC Guide 25. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (AAS). Various metals including silver, gold, copper, lead and zinc were analyzed by inductively-coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. The elements silver, copper, lead and zinc were determined by ore grade assay for samples that returned values >10,000 ppm by ICP analysis. Density measurements were determined at the project site by qualified Constantine personnel on cut core for each assay sample. The 2014 exploration program for the Palmer project is managed by Darwin Green, VP Exploration for Constantine Metal Resources Ltd. and a qualified person as defined by Canadian National Instrument 43-101. Mr. Green has reviewed the information contained in this news release and has also verified the analytical data for drill core samples disclosed in this release by reviewing the blanks, duplicates and certified reference material standards and confirming that they fall within limits as determined by acceptable industry practice. The analytical results have also been compared to visual estimates for the base metals to check for any obvious discrepancies between analytical results and the visual estimates. Forward-looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation 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", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the expected. 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 material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include 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 financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with 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 forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly 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. FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Constantine Metal Resources Ltd. Garfield MacVeigh President 604-629-2348 Constantine Metal Resources Ltd. Darwin Green VP Exploration 604-629-2348 info@constantinemetals.com www.constantinemetals.com Home Life News Arts Globe Debate Sports Report on Business Technology Globe Investor Globe Drive Video My Watchlist Back to top Logout View Full Site Online Help | Privacy Policy | Terms and Conditions | © Copyright 2014 The Globe and Mail Inc. All rights reserved