Mining News: Drills expand AG zone at Palmer

Constantine Metal Resources Ltd. Nov. 2 reported wide silver and zinc intervals during expansion drilling at the AG Zone, a silver- and zinc-rich volcanogenic massive sulfide discovery at the Palmer project in Southeast Alaska. The discovery hole at AG, reported in July, cut 9.2 meters of massive barite-sulfide averaging 312 grams per metric ton silver and 0.9 g/t gold. Assays from additional holes reported in August include: 17.8 meters grading 11.7 percent zinc, 0.2 percent copper, 6.3 g/t silver and 0.2 g/t gold; and 24.6 meters of 260 g/t silver, 0.5 g/t gold, 1.4 percent zinc and 0.5 percent lead. This discovery drilling at AG identified stacked strata-bound zones, including a high-grade silver-gold upper zone and a zinc-rich lower zone. The expansion drilling continued to encounter these zones over a wide area. Highlights from additional holes into the silver zone at AG include: 3.8 meters averaging 256 grams per metric ton silver and 1.1 g/t gold; 3 meters of 128 g/t silver and 1.7 g/t gold; 2.3 meters of 98 g/t silver and 3.2 g/t gold; and 120.1 meters of 31 g/t silver and 0.1 g/t gold. Highlights from drilling into the zinc zone at AG include: 30.5 meters of 7.3 percent zinc, 0.2 percent lead, 0.1 percent copper, 6 g/t silver and 0.1 g/t gold; 41.3 meters of 5.8 percent zinc, 0.2 percent lead, 0.1 percent copper, 9 g/t silver and 0.1 g/t gold; 7.8 meters of 6.7 percent zinc, 0.8 percent lead, 0.1 percent copper, 35 g/t silver and 0.3 g/t gold; and 6.4 meters of 4.8 percent zinc, 1.5 percent lead, 0.1 percent copper, 46 g/t silver and 0.3 g/t gold. This year’s drilling and mapping provides Constantine with a better understanding of AG Zone geology. To date, drilling has defined this silver- and zinc-rich zone over a strike length of 225 meters and a vertical dip length of 275 meters, with all edges open to expansion. The company said tight folding near to surface gives way to a steeply-dipping, vertically extensive mineral horizon at depth. This is significant as it opens a very large area for expansion of the zone at depth and along strike. The mineralization encountered at AG correlates with Waterfall and CAP, high-grade surface prospects located hundreds of meters along trend to the northwest and JAG to the southeast. The company said the potential for outlining mineral resources between these areas is excellent. “Drilling to date has demonstrated grade, scope, continuity, and, with all edges open to expansion, obvious potential for scale,” said Constantine President and CEO Garfield MacVeigh. “The 2017 program provides proof of concept of Palmer’s potential to host multiple deposits, and we look forward to building on this theme as we continue to advance the Palmer project with a focus on new discoveries, expansion of the AG Zone, and expansion and upgrade of the South Wall-RW Zone mineral resource.” All assays for the AG Zone drilling have been received.

–SHANE LASLEY