- Constantine Metal Resources (CEM) has noted some possible gold occurrences on its leased land in Alaska, following a review of historical data
- The company managed to source US Bureau of Mines samples from the 1980’s, which investigated deposits upstream from the Porcupine Creek mine
- The Porcupine Creek mine is on land leased by the company, as part of its Palmer base metals project
- The upstream surface level sampling from the site’s Golden Eagle gold prospect returned results up to 531.1 grams per tonne gold
- Constantine Metal Resources (CEM) is up 11 per cent to $0.195 per share at 9:45 am EDT.
Constantine Metal Resources (CEM) has noted some possible gold occurrences on its leased land in Alaska, following a review of historical data.
The company currently leases the land that the old Porcupine Creek gold mining operation is on, as part of a larger land parcel the company leases where it has been advancing its Palmer base metals project.
Constantine was reviewing some rock sampling data from a campaign conducted by the United States Bureau of Mines (USBM) at the Golden Eagle gold prospect in the 1980’s.
The USBM returned samples that ranged from nothing all the way up 531.1 grams per tonne of gold. Downstream sampling from that vein returned gold values that also ranged from zero up to 182.13 grams per tonne gold.
Some further grab sampling by the USBM at McKinley Creek Falls contained 1.37 to 8.96 grams per tonne gold from some surface level quartz veins dotting the area.
One rock chip sample from the veins returned 24.83 grams per tonne gold and 280 parts per million zinc. The company plans to resample the gold prospects to evaluate the type of gold mineralization that occurs in the area. This will primarily involve some surface geological work to evaluate the structure and geology of the region.
Constantine’s President Garfield MacVeigh said that company has managed to identify several key gold prospects on the leased land.
“The prospects, as described in historical government reports, have many occurrences of high-grade gold that have received very limited investigation for their economic potential.
“We look forward to evaluating these previously untested areas of prospective high-grade gold mineralization,” he said.
Constantine Metal Resources (CEM) is up 11 per cent and is trading at C$0.195 per share at 9:45 am EDT.