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Constantine Metal announces maiden AG Zone resource estimate

Mining News - Published on Fri, 21 Dec 2018

Image Source: SteelGuru
Constantine Metal Resources Ltd announced a maiden mineral resource estimate for the AG Zone at the Palmer Copper-Zinc-Lead-Silver-Gold Project. AG Zone is the second deposit to be defined at Palmer and adds to the existing mineral resource base. The total consolidated mineral resource now stands at 4.68 million tonnes of 10.2% zinc equivalent in the indicated category and 9.59 million tonnes of 8.9% zinc equivalent in the inferred category. President and CEO Mr Garfield MacVeigh, said that "The rapid evolution of the AG Zone from discovery to maiden resource has increased the value of this deposit in a very short time frame."

This initial estimate establishes the AG Zone as a significant precious-metal rich zinc deposit, which has increased the total resource tonnage at Palmer by 43%. Located just three kilometers from the main Palmer Deposit, AG Zone has potential to have a positive impact on the economics of the project. It also clearly confirms the multi-deposit district potential of the 81,000-acre property. The opportunity to discover additional deposits and expand the two known resource areas is considered excellent.

AG Zone Deposit Only: Sensitivity by Cut-off Grade

INFERRED MINERAL RESOURCE ESTIMATE (effective date December 18, 2018) Cut-off Grade Tonnes Zn Cu Pb Ag Au Barite ZnEq (% ZnEq) (1,000s) (%) (%) (%) (g/t) (g/t) (BaSO4%) (%) 4.5 4,648 4.48 0.12 0.90 114.2 0.50 34.1 8.68 5.0 4,256 4.64 0.12 0.96 119.5 0.53 34.8 9.04 5.5 3,975 4.78 0.13 1.00 122.2 0.54 34.7 9.31 Contained Metal Cut-off Grade Zn Cu Pb Ag Au Barite ZnEq (% ZnEq) (M lb) (M lb) (M lb) (M oz) (K oz) (K tonnes) (M lbs) 4.5 459 12 92 17.1 74.7 1,583 889 5.0 435 11 90 16.4 72.5 1,480 848 5.5 419 11 88 15.6 69.0 1,379 816

Includes all drill holes completed at AG Zone; drilling completed between June 2017 and September 2018. Zinc Equivalent ("ZnEq") based on assumed metal prices and 100% recovery and payable for Cu, Zn, Pb, Ag and Au. ZnEq equals = ($66 x Cu% + $25.3 x Zn% + $22 x Pb% + $0.51 x Ag g/t + $40.19 x Au g/t) / 25.3.Assumed metal prices are US$3.00/lb for copper (Cu), US$1.15/lb for zinc (Zn), US$ $1.00/lb for lead, US$1250/oz for gold (Au), US$16/oz for silver (Ag). Barite (BaSO4) not included in the Cut-off determination or reported ZnEq.Mineral resources as reported are undiluted.Mineral resource tonnages have been rounded to reflect the precision of the estimate. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.

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Posted By : Rabi Wangkhem on Fri, 21 Dec 2018
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