VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Constantine Metal Resources Ltd. (TSX VENTURE:CEM) ("Constantine" or the "Company") is pleased to announce that a five hole, minimum 1000 meter, winter drill program is planned on the Company's Golden Mile property ("Golden Mile" or "the Property") in Timmins, Ontario. The Property is currently optioned to Teck Resources Limited ("Teck") (see news release dated May 9, 2012 for Agreement terms).
Garfield MacVeigh, President and CEO of Constantine states, "We are pleased with the systematic exploration approach that has been taken at Golden Mile and are excited with the opportunity to be drilling these quality targets. The Property is located in an excellent geological and structural setting within the high-grade Timmins gold camp, and has received only limited historic drilling owing to extensive overburden cover."
The winter program is designed to test coincident geophysical, geological and geochemical targets generated by Teck-funded exploration work carried out over the past 18 months. The program is scheduled to commence in early February and will be managed by Constantine under a technical services agreement with Teck.
Golden Mile is a large, 68 square kilometer property located 9 kilometers northeast of Goldcorp's multi-million ounce Hoyle Pond deposit and covers the projection of the Pipestone Fault System on the north margin of the Timmins gold camp that has produced more than 55 million ounces of gold.
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 the 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 that is optioned to Teck Resources Limited. who can earn up to 66% by spending $5M; and (3) the 50/50 Joint Venture with Carlin Gold Corporation exploring an approximately 800 sq. km land position in an emerging new Carlin-type gold district in Yukon. 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
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.
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