Constantine Reports More Wide Intersections At The South Wall Zone
� 27.5 Meters Grading 2.52% Copper
and 3.38% Zinc �
PALMER PROJECT, ALASKA
December
2, 2008
Vancouver, B.C. � Constantine Metal Resources Ltd (TSXV: CEM)
(�Constantine� or the �Company�) is pleased to report assay results for drill
holes CMR08-17 (Zones I and II) and CMR08-22 (Zone II) from the South Wall
Target at its copper-rich massive sulphide Palmer Project in southeast Alaska
where the 2008 drilling program was completed in early October.
Assay Results
New assay results for Zone I mineralization in CMR08-17 returned 90.3 feet (27.52 meters) of 2.52%
copper, 0.15% lead, 3.38% zinc, 0.32 g/t gold and 25.5 g/t silver including
28.1 feet (8.56 meters) of 3.50% copper, 0.43% zinc, 0.48 g/t gold, 30.93 g/t
silver and 17.3 feet (5.27 meters) of 0.82% copper, 0.71% lead, 13.27% zinc,
0.49 g/t gold and 61.3 g/t silver. This Zone I intercept is
located 75 meters west of the high grade copper-rich zone in CMR08-14 (3.16%
copper, 3.59% zinc, 0.22 g/t gold and 20.1 g/t silver over 126.8 feet or
38.65 meters ) and 130 feet (40 meters) higher in elevation. Additional
assays are pending for copper bearing stockwork mineralization associated
with the CMR08-17 Zone I intersection.
CMR08-17, Zone II
assay results returned a high grade zinc intersection; 15.8 feet (4.82 meters) of 0.91% copper, 0.38%
lead, 21.39% zinc, 0.04 g/t gold and 19.4 g/t silver.
Assay results for Zone II in
CMR08-22 contained 98.5 feet (30.02 meters) of 1.70% copper, 0.17% lead,
5.11% zinc, 0.22 g/t gold and 32.8 g/t silver including 16.0 feet 4.88
meters) of 3.31% copper, 0.29% lead, 9.28% zinc, 0.42 g/t gold and 80.2 g/t
silver. The intersection is located 55 meters east and 36
meters west of Zone II intersections in CMR08-17 and CMR08-19 respectively,
and 140 feet (40 meters) lower in elevation.
These thick intercepts continue to demonstrate the continuity of the South
Wall zones and expansion of the exploration potential. Stratigraphically
correlated mineralization was intersected in 2007 discovery hole CMR07-07
which assayed 3.79% copper and 7.24% zinc over 46 feet (14 meters). This hole
is located 885 feet (270 meters) to the west and 870 feet (265 meters) higher
in elevation than the most westerly Zone I intercept in CMR08-17 reported in
this news release and is shown on vertical long sections on the Company�s
website.
2008 Palmer Project Drill
Program and Beyond
In 2008, Constantine completed 12 holes (2 abandoned) resulting in 17
mineralized intersections, for an aggregate of 14,421 feet (4,395 meters) of
drilling. The exploration to date indicates a minimum lateral extent of South
Wall mineralization of 1000 feet (~300 meters) horizontally by 1000 feet
(~300 meters) vertically in three zones and all zones are open to expansion.
The South Wall zones occur on the steep limb of a large anticlinal fold,
whereas the CMR07-07 high grade copper intercept is on the shallow dipping
upright limb. Both indicate the presence of a sizeable massive sulphide
system and offer excellent opportunity for further expansion.
The highlights of recently received assay results are tabulated below.
Summary Table of New Assay Results
Drill hole
|
from (ft)
|
to (ft)
|
Interval (ft) (m)
|
Cu (%)
|
Pb (%)
|
Zn (%)
|
Au (g/t)
|
Ag (g/t)
|
Comment
|
CMR08-171
|
1059.0
|
1149.3
|
90.3
|
27.52
|
2.52
|
0.15
|
3.38
|
0.32
|
25.5
|
Zone I
|
Includes
|
1066.7
|
1081.5
|
14.8
|
4.51
|
4.64
|
0.01
|
0.75
|
0.27
|
14.7
|
Zone I
|
Includes
|
1103.9
|
1132.0
|
28.1
|
8.56
|
3.50
|
0.02
|
0.43
|
0.48
|
30.9
|
Zone I
|
Includes
|
1132.0
|
1149.3
|
17.3
|
5.27
|
0.82
|
0.71
|
13.27
|
0.49
|
61.3
|
Zone I
|
|
|
|
|
|
|
|
|
|
|
|
CMR08-172
|
1633.1
|
1648.9
|
15.8
|
4.82
|
0.91
|
0.38
|
21.39
|
0.04
|
19.4
|
Zone II
|
|
|
|
|
|
|
|
|
|
|
|
CMR08-223
|
770.0
|
868.5
|
98.5
|
30.02
|
1.70
|
0.17
|
5.11
|
0.22
|
32.8
|
Zone II
|
includes
|
807.0
|
823.0
|
16.0
|
4.88
|
3.31
|
0.29
|
9.28
|
0.42
|
80.2
|
Zone II
|
|
|
|
|
|
|
|
|
|
|
|
1True thickness of the intersection estimated to be 75-85% of
the core length.
2True thickness of the intersection estimated to be 50% of the
core length.
3True thickness of the intersection estimated to be 70-75% of the
core length.
Locations of all intersections are shown on vertical long sections for
Zones I, II and III that accompany the website version of the news release
along with a summary table of all South Wall discovery intersections. Updated
sections will also be posted to the website at www.constantinemetals.com.
Pending Assay Results
There are a significant number of additional assays pending for the 2008
diamond drilling, however all the prioritized assay results have now been
received.
About Constantine
The Company owns the Palmer project, a world class base metal exploration
opportunity in a very accessible part of southeast Alaska, where it has made
a new high-grade, copper-rich massive sulphide discovery and completed a 12
hole, 14,421 foot (4,395 meter) drill program. Constantine also owns 100% of
the Munro-Croesus Gold property, including the former high-grade Croesus Gold
mine, consisting of 22 patented mining claims and leases (416 hectares),
located 75 kilometers east of Timmins, Ontario and within the influence of
the prolific Porcupine-Destor Deformation Zone.
Please visit the Company�s website (www.constantinemetals.com) for
more detailed company and project information.
"J. Garfield MacVeigh"
J. Garfield MacVeigh, President
Telephone: 778-772-4437
Notes:
Drill core was split using a diamond
blade rock saw with half of each sealed in individual 6 ml polyethylene bags
for analysis and half placed back in the original core box for permanent
storage. The sealed samples were delivered by Company personnel directly to
the Eco Tech preparation lab in Whitehorse and pulped samples were shipped by
Eco Tech Laboratory Ltd. to their analytical facilities in Kamloops, British
Columbia. Twenty nine elements including silver, copper, lead and zinc were
determined by inductively-coupled plasma (ICP/ES) atomic emission spectroscopy,
following four-acid digestion. Ore metals reporting concentrations higher
than 10,000 ppm were assayed using AAS to produce the results reported
herein. Gold was determined by fire-assay fusion of a 30 g sub-sample with
atomic absorption spectroscopy (AAS). Analytical results were monitored by
insertion of two base metal standards prepared by CDN Resource Laboratories
Ltd. at appropriate intervals in the sample preparation stream in addition to
Eco Tech's internal analytical QC protocols including blanks and replicates.
Darwin Green,, P Geo., is the Qualified
Person for this news release..
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. No stock exchange, securities commission or
other regulatory authority has approved or disapproved the information
contained herein.
Forward looking statements:
The news release includes certain �forward-looking statements.� All
statements other than statements of historical fact included in this release,
including, without limitation, statements regarding potential mineralization,
exploration results, interpretation of results 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. Important factors that
could cause actual results to differ materially from Constantine�s expectations
include exploration risks detailed herein and from time to time in the
filings made by the Company with securities regulators. This news release
provides assay results for specific drill holes of the 2008 Palmer drill
program. There is no assurance that assay results to be reported from other
holes being drilled will provide similar results.
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