Constitution Mining Corp.
OTC Bulletin Board : CMIN

October 20, 2010 16:41 ET

Constitution Mining Completes Phase II Drill Program

LIMA, PERU--(Marketwire - Oct. 20, 2010) - Constitution Mining Corp. (OTCBB:CMIN) is pleased to announce drill results and tentative conclusions from the Company's 100 (Phase II) drill-hole program on its Peruvian GoldSands properties.

A total of 100 drill holes have been drilled to sample a 6.8 square kilometer east facing meander which contains three promising gold bearing channels. During the last 4 months, the company has applied close interval drilling to define the dimensions and grades of these channels.

Jim Prudden, Constitution's VP of Exploration notes:

"These channels are 100 + meters wide and average 2.5 meters deep. Current drilling has indicated that they are a minimum of 600 meters long with the gold rich horizon extending another 400 meters with geological evidence suggesting further extensions. Available assays indicate an average grade of 151.5 mg/CM or $5.85/CM Gold Value at 1200 USD/ounce gold prices."

Michael Stocker, Constitution's CEO states:

"We are very encouraged by the results of this 100 hole Phase II drill program. The efforts of the past few months have confirmed on a consistent basis, the results we have been expecting for this specific area. This drilling has enabled us to provide revised inputs to delineate what we hope will be a viable gold resource which can support an experimental test production operation."

The 100E line was completely drilled as planned at 100 meter intervals. Excavation of the second line commenced from the southern portion of the grid. In the 100E line, the exploration team encountered a very anomalous hole - HBD33- which had the potential of being expanded for a resource area. However, the focus at that time was to complete the 100 holes in anticipation of being able to make a resource calculation.

The 100 m X 250 m grid was intentionally designed to intersect any mineralization of interest, which might be contained within that specific area of exploration.

After HBD33, a pragmatic and systematic approach has enabled the Company to make substantial progress in locating a channel whose presence had been previously expected, and moving forward aggressively to develop an understanding of it.

At this time, this HBD33 channel appears to be suitable as an initial test production area. It is anticipated that further drilling will demonstrate the presence of additional mineralization. As a next step, the plan is to work on the implementation of test production equipment on the drilled out area.

The Company will now analyze the drilling data and will publish first results of the study of the second and third channel in the near future.

About Constitution Mining Corp. (CMIN.OB)

The Company's goal is to locate large-scale commercially viable gold deposits and continuously increase the amount of gold underlying its outstanding shares. The Company is interested primarily in geographical areas that are home to several significant proven gold deposits, including highly prospective districts likely to hold further large deposits.


The first and most active project is in the Gold Sands region of Peru where the Company holds options on 461 square kilometers (178 square miles) of mining property, the largest such block in the district. These Gold Sands were laid down by eons of alluvial erosion. For millions of years, the waters of the Santiago and the Marañón rivers have been carving their way through the gold-rich mountain canyons of the Andes, carrying off vast amounts of gold and depositing it in the loose gravels and sands - Gold Sands - in the area the Company now controls.

Results from test holes drilled during CMIN's 26-hole Phase I exploratory drill program indicate the presence of significant alluvial gold. The Company has now completed its Phase II drill program focused on grid drilling a 2.5 square kilometer region. While the results from both the Phase I drill program and the Phase II, 100-hole drill program are highly favorable, the Company cautions that these results do not yet indicate the presence of a commercially viable mineral deposit and further exploration is needed to determine the full feasibility of the project.

The full implementation of these programs will require the Company to secure additional financing.

Further information about Constitution Mining Corp may be found at:

On behalf of the Board:

Dr. Michael Stocker - CEO

Constitution Mining Corp. (CMIN.OB)


This release contains forward-looking statements that are based on beliefs of Constitution Mining Corp. management and reflect Constitution Mining Corp's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words , or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Constitution Mining Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance , or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Constitution Mining Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.

Contact Information

  • Constitution Mining Corp.
    Investor Inquiries:
    North America Toll Free: 800-215-0811
    Direct Dial: 360-339-7309