- Constantine Metal Resources (TSXV:CEM) has revealed its plans for a 2020 field work program at the Palmer polymetallic project in Alaska
- The project is owned by Constantine under a joint venture partnership with Dowa Metals & Mining, with each party holding a 51 per cent and 49 per cent interest, respectively
- A budget of approximately C$2.92 million has been approved for the program, which is expected to include field work and both environmental and project permitting
- The program has been planned for mid to late summer when the COVID-19 pandemic is likely to have improved more
- Constantine Metal Resources (CEM) is currently down 12.5 per cent and is trading at 14 cents per share at 12:25pm EDT
Constantine Metal Resources (TSXV:CEM) has revealed its plans for a 2020 field work program at the Palmer project in Alaska.
Located within 60 kilometres of the year-round, deep sea port of Haines, mineralisation at the Palmer project has been identified within the same belt of rocks that hosts the Greens Creek mine, which is one of the world’s richest volcanogenic massive sulfide ore deposits.
The project is held by Constantine under a joint venture partnership, Constantine Mining LLC Joint Venture, with Dowa Metals & Mining, with each party holding a 51 per cent and 49 per cent interest, respectively.
Under a mutual agreement, the CMJV has approved a budget of approximately C$2.92 million for the upcoming program. This will be funded entirely by Dowa Metals & Mining, resulting in the marginal dilution of Constantine’s holding in the project.
The program is expected to include extensive field work, along with both environmental and project permitting related to future underground exploration development. Constantine also plans to continue its liaison activities with the Haines Borough and the State of Alaska.
Much of the on-site work has been scheduled from mid to late summer in an effort to reduce concerns regarding exposure to the ongoing COVID-19 pandemic.
Garfield MacVeigh, President of Constantine Metal Resources, said that although 2020 has been a period of reduced project expenditures and challenges due to the coronavirus outbreak, the CMJV continues to make significant progress in moving the Palmer project towards underground exploration and feasibility studies.
“We also continue to be excited about the exploration potential on both the CMJV property as well as the immediately surrounding district controlled 100 per cent by Constantine.
“Finding the offset of the thickest part of the South Wall Zone and new deposit discoveries on CMJV lands or 100 per cent Constantine land are obvious opportunities to add value,” he said.
Constantine Metal Resources (CEM) is down 12.5 per cent and is trading at 14 cents per share at 12:25pm EDT.