Constantine Metal Resources Ltd.

Constantine Metal Resources Ltd.

September 10, 2009 09:25 ET

Constantine Intersects 6.1 Meters of 1.5% Copper and 9.2% Zinc in Deepest Massive Sulphide Intersection to Date Palmer VMS Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - Constantine Metal Resources Ltd. (the "Company") (TSX VENTURE:CEM) is pleased to announce additional drill results and progress update for the 2009 drill program at the Company's Palmer copper-zinc-gold-silver rich volcanogenic massive sulphide ("VMS") project. Drill hole CMR09-26, targeting the depth extension of South Wall Zone II, intersected the deepest massive sulphide to date. The new step-out drill intersection is located 80 meters down-dip and 40 meters west of 2008 drill hole CMR08-22, and confirms that South Wall mineralization continues to remain strong to depth. Additional drilling continues to test extensions of the South Wall to depth and along strike. The Palmer project is located in a very accessible part of southeast Alaska, 60 kilometres by road from the year-round deep sea port of Haines.


- Step-out hole CMR09-26 intersected 4.0 meters grading 2.09% copper, 9.19% zinc, 0.22 g/t gold and 22.0 g/t silver, within a broader 6.1 meter wide baritic massive sulphide zone grading 1.53% copper, 9.17% zinc, 0.18 g/t gold and 18.0 g/t silver (Table 1). The intersection is located 80 meters down dip and 40 meters west of CMR08-22 (30.0 meters grading 1.70% copper, 5.11% zinc, 0.22 g/t gold and 32.8 g/t silver), and is 40 meters deeper than the next deepest South Wall Zone II intersection.

- Strongly oxidized and leached RW zone mineralization grading 0.23% copper, 3.08% zinc, 0.49 g/t gold, and 46.8 g/t silver over 9.14 meters was intersected in the upper portion of hole CMR09-24. This intersection, although heavily leached of metal bearing sulphides, is significant in that it extends the total strike length of thicker RW zone mineralization to 195 meters and includes a higher grade precious metal sub-interval that grades 0.89 g/t gold and 82.9 g/t silver over 5.03 meters. The RW zone intersection in CMR09-24 is on the north gently dipping limb of the anticline and is in addition to previously reported steep South Wall Zone I massive sulphides intersected in the same hole (9.1 meters grading 1.9% copper and 5.2% zinc; see news release #44-09).

- Geophysical crews have commenced time-domain electromagnetic (TDEM) borehole and surface grid surveys. The objective of the TDEM survey work is to identify off-hole extensions and new zones of conductive massive sulphide mineralization.

- Infill sampling on 2008 drill holes yields a new 5.58 meter wide zone grading 2.56% copper and 0.52% zinc in CMR08-17. The intersection occurs within a structural zone located between South Wall zones I and II (27.5 meters grading 2.52% copper and 3.38% zinc, and 4.8 meters grading 0.91% copper and 21.39% zinc).

Progress Update

A total of seven holes in the 2009 drilling program have been completed to date, CMR09-23 through CMR09-29, with three additional holes currently in progress. Assay results have now been received for three of the seven holes completed. Additional results will be released as they come available. A long section depicting South Wall zone pierce points is available at

Preliminary mineralogical and metallurgical work is in progress on ten samples of South Wall and RW zone mineralization. Density measurements have been obtained on split core for all assay samples (624 samples) included in each significant South Wall and RW zone intersection. The density data have been collected to assist in future planned resource estimation.

Table 1. 2009 DRILL RESULTS

Inter- cept
From To cept (meters) Au Ag
SW ZONE I (feet) (feet) (feet) (i) Cu % Pb % Zn % (g/t) (g/t)
CMR-09-23(i) 1157.0 1254.7 97.7 29.78 2.10 less than 0.85 0.09 8.0
Includes 1157.0 1227.0 70.0 21.34 2.76 less than 0.50 0.10 9.7
Includes 1163.5 1200.0 36.5 11.13 3.86 less than 0.50 0.12 10.8
CMR-09-24(i) 1043.7 1105.0 61.3 18.68 1.16 0.10 4.20 0.30 29.2
Includes 1043.7 1073.4 29.7 9.05 1.90 0.02 5.20 0.30 26.6
Includes 1043.7 1066.2 22.5 6.86 2.20 0.02 6.10 0.27 23.2
CMR-09-26(ii) 1152.0 1072.0 20.0 6.10 1.53 0.02 9.17 0.18 18.0
Includes 1155.1 1068.2 13.1 3.99 2.09 0.02 9.19 0.22 22.0
Includes 1159.4 1068.2 8.8 2.68 3.17 0.02 8.06 0.30 29.4
CMR-09-24(ii) 467 497 30.0 9.14 0.23 0.53 3.08 0.49 46.8
Includes 470.5 487 16.5 5.03 0.22 0.88 1.52 0.89 82.9

(i) previously reported drill results (see August 17, 2009 news release
(ii) new drill results
Drill intercepts reported as core lengths are estimated to be 75-80% true

About the Palmer VMS Project

The copper-rich Palmer Project represents one of North America's newest volcanogenic massive sulphide discoveries. Drilling to date has defined the South Wall mineralization 380 meters horizontally along strike, and 315 meters vertically down dip. The South Wall with its three distinctive stratigraphic stacked zones occurs on the steep limb of a large anticlinal fold, and is correlative with the mineralization in the RW Zone that occurs on the shallow dipping upright limb of the fold (see figures at The presence of massive sulphide on both sides of the fold indicates a sizeable massive sulphide system, with zones on each limb offering excellent opportunity for further expansion.

About the Company

Constantine has a 100% interest in two exceptional projects located in world class exploration environments where management has strong familiarity and expertise. These include the Palmer Project, where the Company has made a major new copper-zinc-silver-gold discovery in a very accessible part of southeast Alaska, and the Munro-Croesus Project a past producing mine property that yielded some of the highest grade gold ever mined in Ontario.

On Behalf Of Constantine Metal Resources Ltd.

J. Garfield MacVeigh, President and CEO

To view the maps associated with this press release please click on the following link:


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 one foot interval to a maximum 6 foot interval with an average 3 to 5 foot sample length. Drill core samples were shipped directly by air freight from Whitehorse in sealed woven plastic bags to ALS-Chemex laboratories in North Vancouver. ALS Chemex laboratories 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 greater than 10,000 ppm by ICP analysis. Density measurements were determined at the project site by Constantine personnel on cut core for each assay sample, with approximately 10% of all samples sent to ALS Chemex laboratories for external verification.

The 2009 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: The 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 potential mineralization, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, and future plans and objectives of Constantine are forward-looking statements that involve various risks and uncertainties. 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 Constantine'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 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.

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