Sprott Global Resource Investments

Site Visits

Constantine Metals, SE Alaska- August 5th, 2014

Neil Adshead visited Constantine Metal’s Palmer VMS (Volcanogenic Massive Sulphide) copper-zinc-silver-gold deposit near the coastal town of Haines, SE Alaska, between 4-6 August 2014 (http://constantinemetals.com/projects/palmer/).  The Palmer property occurs in a Late Triassic belt of relatively high-grade and polymetallic VMS properties, including Hecla’s Greens Creek silver-dominant mine and the large, undeveloped Windy Craggy copper deposit, that runs parallel to the coast in far NW BC extending north into the Alaska Panhandle.  The coastal region has high alpine mountains, glaciers, forests, fjords and many islands.  The terrain on the Palmer property is rugged, with core drilling performed from wooden pads constructed on steep hillsides, but the site is not remote; it is adjacent to the blacktop highway between the ice-free port of Haines on the Pacific Ocean that connects with the Alaska Highway at Haines Junction in Yukon.

Copper-zinc-gold-silver mineralization at Palmer occurs in a sequence of folded and faulted volcanic rocks.  The massive sulphide drill intervals generated up to 2010 resulted in a maiden Inferred resource estimate of 4.75 million tonnes grading 1.84% copper, 4.79% zinc, 0.3 g/t gold and 30.5 g/t silver using a US$50 NSR at metal prices significantly lower than today.  Additional holes drilled since 2010, including the >10,000 m planned in 2014, will result in a new resource estimate in early 2015.  The current drill program is funded by Dowa Metals & Mining, an integrated Japanese base metal mining and smelting company, who will earn a 49% interest in Palmer after spending US$22 M over four years (until Q1-2017).  

 

 

 

The foregoing discussions are a result of site visits and are not to be construed as a recommendation, an endorsement or as investment advice. Sprott Global Resource Investments Ltd, entities that it controls, family, friends, employees, associates, and others may hold positions in these securities, may recommend them to clients, and may sell the same at any time.

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