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Constantine Metal Resources eyeing milestones in 2019; files updated Palmer resource

Last updated: 02:59 02 Feb 2019 AEDT, First published: 21:43 01 Feb 2019 AEDT

Gold and silver bars
The estimate was fro the AG zone of the copper-zinc-lead-silver-gold project

Constantine Metal Resources LTD (CVE:CEM) told investors it has filed its updated resource estimate for the Palmer exploration project in southeast Alaska and said it looked forward to a number of milestones in 2019.

The updated resource included the AG Zone Copper-Zinc-Silver-Gold (Barite) inferred resource estimate that was originally announced in December last year.

Last month, the Vancouver-based company said that a maiden mineral resource estimate for the AG zone of the copper-zinc-lead-silver-gold project estimated 4.26 million tons grading 9.04% zinc equivalent.

READ THE BIG PICTURE: Constantine Metals may have a 50mln tonne zinc project at Palmer, with Japanese zinc company backing to get it into production

The company added that the total consolidated mineral resource now stood at 4.68 million tons grading 10.2% zinc equivalent in the indicated category and 9.59 million tons grading 8.9% zinc equivalent in the inferred category.

"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," CEO Garfield MacVeigh had said in a statement at the time.

Today, MacVeigh added: "Constantine looks forward to a number of milestone events in 2019 with continued advanced exploration at Palmer, the spin out of our gold assets and results from our aggressive corporate marketing campaign."

Palmer is a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint venture between Constantine (51%) and Dowa Metals & Mining Co Ltd (49%) with Constantine as operator.

The project lies in a very accessible part of coastal Southeast Alaska, with road access to the edge of the property and within 60 km of the year-round deep-sea port of Haines.

Shares in Toronto ticked 1.04% higher at $0.485.

Contact Giles at giles@proactiveinvestors.com

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