Constantine Announces Appointment of Ian Cunningham-Dunlop as Vice President, Advanced Projects
VANCOUVER, British Columbia, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Constantine Metal Resources Ltd. (TSX Venture:CEM) ("Constantine" or the "Company") is pleased to announce the appointment of Ian Cunningham-Dunlop to the position of Vice President, Advanced Projects. The appointment coincides with the transition to advanced stage exploration and evaluation work at the Company’s high-grade Palmer Project, southeast Alaska.
Mr. Cunningham-Dunlop is a seasoned mining executive with more than 30 years of experience in domestic/international mineral exploration and project development and was most recently involved in advancing the Castle Mountain gold project in California (NewCastle Gold), the Karma gold mine in Burkina Faso (True Gold Mining), and the Long Canyon gold mine in Nevada (Fronteer Gold). He also supervised all surface exploration activities at the Eskay Creek Au-Ag-Cu-Pb-Zn mine in BC for Homestake Mining/Barrick Gold (1997-2003) giving him a strong understanding of volcanic massive sulphide systems similar in style and age to Palmer. Ian holds a B.Sc. in Geological Engineering from Queen’s University and has worked with the Company as a Senior Technical Adviser since 2014. He is a qualified person under NI 43-101 guidelines.
Garfield MacVeigh, President and CEO states, “We are extremely pleased to welcome Mr. Cunningham-Dunlop as a key member of Constantine’s senior management team. His past experience and expertise with successful advanced exploration to development stage projects will be invaluable as we enter the next stages at Palmer. We look forward to an exciting year in 2018 as we continue to advance the Palmer Project and build on the great exploration success of 2017.”
In connection with Mr. Cunningham-Dunlop’s appointment, the Company has granted Mr. Cunningham-Dunlop 300,000 stock options to purchase 300,000 common shares of Constantine at an exercise price of $0.185 per option for each common share for a period of five (5) years. The stock options have been granted pursuant to Constantine’s Stock Option Plan and are subject to vesting provisions and the acceptance of the TSX Venture Exchange.
About the Palmer Project
Palmer is an advanced stage, high-grade volcanogenic massive sulphide (VMS) project, with an Inferred Mineral Resource of 8.1 million tonnes grading 1.41% copper, 5.25% zinc, 0.32 g/t gold and 31.7 g/t silver*. The 2017 discovery of the exciting new zinc-silver-gold-rich AG Zone highlights the district potential of the camp. The Project is being advanced as a joint venture between Constantine (51%) and Dowa (49%), with Constantine as operator. The Project is located in a very accessible part of coastal Southeast Alaska, with road access to the edge of the property and within 60 kilometers of the year-round deep sea port of Haines. Mineralization at Palmer occurs within the same belt of rocks that is host to the Greens Creek mine, one of the world’s richest VMS deposits. VMS deposits are known to occur in clusters and with at least 25 separate base metal and/or barite occurrences and prospects on the Project, there is abundant potential for discovery of multiple deposits at Palmer.
About the Company
Constantine is a mineral exploration company led by a proven technical team with a focus on premier North American mining environments. In addition to the Company’s flagship copper-zinc-silver-gold Palmer VMS Project, Constantine also controls a portfolio of high-quality, 100% owned, gold projects in the Timmins camp, Ontario. This includes the large, well located Golden Mile Property in Timmins and the Munro Croesus Gold Property that is renowned for its exceptionally high-grade past production. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses.
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
For further information please contact:
Garfield MacVeigh, President or Darwin Green, VP Exploration
Phone: 604-629-2348. Email: info@constantinemetals.com
* 8.125 million tonne inferred resource grading 1.41% copper, 5.25% zinc, 0.32 g/t gold and 31.7 g/t silver. See the Company's news release date May 11, 2015 and available on www.sedar.com. Resource estimate utilizes an NSR cut-off of US$75/t with assumed metal prices of US$1200/oz for gold, US$18/oz for silver, US$2.75/lb for copper, and US$1.00/lb for zinc. Estimated metal recoveries are 89.6% for copper, 84.9% for zinc, 75% for gold (61.5% to the Cu concentrate and 13.5% to the Zn concentrate) and 89.7% for silver (73.7% to the Cu concentrate and 16% to the Zn concentrate) as determined from metallurgical locked cycle flotation tests. An “Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure.
Darwin Green, VP Exploration for Constantine Metal Resources Ltd. and a qualified person as defined by Canadian National Instrument 43-101 has reviewed and approved the technical information contained in this release.
Notes:
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.