Highlights are as follows:
-- Under the terms of the Agreement, JOGMEC may fund up to a maximum of 45% of Dowa's earn-in expenditures on the Palmer project to earn a maximum of 45% of Dowa's interest. -- Dowa will maintain the pre-emptive right to repurchase JOGMEC's equity interest. -- Constantine's right to retain majority 51% interest in the Palmer project remains unchanged. -- JOGMEC is a government organization with a mandate to secure a stable supply of natural resources for
Japan. JOGMEC provides financial assistance to companies for overseas exploration. -- JOGMEC's funding participation is effective immediately and includes financial contributions to the 2014 exploration season that includes 10,000 meters of drilling. The US$6.2 millionbudget for 2014 remains unchanged.
Palmer is an early resource expansion stage, high-grade volcanogenic massive sulphide (VMS) project that hosts a 4.75 million tonne inferred resource estimate grading 1.84% copper, 4.57% zinc, 0.28 g/t gold and 29.0 g/t silver(i). The project is located in a very accessible part of coastal southeast
The 2014 exploration program plans for a minimum of 10,000 meters of drilling, including 3 exploration drill rigs and a recently added fourth drill for geotechnical purposes. Other work includes construction of a 4 km supply road, and environmental and geotechnical studies. Initial 2014 drilling has intersected a thick lens of high-grade massive sulphide 150 meters down dip of the lower edge of the
The work is part of a
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
On Behalf of
(i) See the Company's technical report entitled, "
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 0.3 meter interval to a maximum 2.0 meter interval, with an average 1.0 to 1.5 meter sample length. Drill core samples were shipped by transport truck in sealed woven plastic bags to ALS Minerals laboratory facility in
The 2014 exploration program for the Palmer project is managed by
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Constantine Metal Resources Ltd. Garfield MacVeighPresident 604-629-2348 Constantine Metal Resources Ltd. Darwin GreenVP Exploration 604-629-2348 email@example.com Source: Constantine Metal Resources Ltd.