Constantine Metal Resources (CEM-V) Jan 19, '17 is pleased to announce it has completed the sale of mineral claims to Lake Shore Gold Corp, a wholly owned subsidiary of Tahoe Resources Inc. (see News Release dated November 7, 2016). Constantine has received CDN $4.5 million cash and a 100% interest in the Munro claim that is contiguous to Constantine’s Munro-Croesus claims.
The mineral claims that have been sold, known as the Horseshoe, Four Corners and the Meunier Add-on claims, are located adjacent to Lake Shore’s Fenn-Gib gold project in Ontario. They do not include Constantine’s neighboring Munro Croesus Gold Property that is renowned for its exceptionally high-grade past production, or the Golden Mile Property, which collectively represent a rare opportunity to control an extensive, high potential land position in the prolific Timmins gold camp. Constantine has retained a 1% Net Smelter Return Royalty (“NSR”) on the Horseshoe claims, which are located a few hundred meters west-northwest of the Fenn-Gib gold resource. Constantine also retain the rights to NSR buy-down provisions associated with the underlying property agreements on all of the properties sold to Lake Shore.
About the Company
Constantine is a mineral exploration company led by a proven technical team with a focus on premier North American mining environments. The Company’s principal asset is the high-grade Palmer Project in coastal Southeast Alaska, 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 Project is being advanced as a Joint Venture between Constantine (51%) and Tokyo based Dowa Metals and Mining (49%), with Constantine as operator. 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
Constantine Metal Resources Ltd.
Suite 320 ? 800 West Pender St.
Vancouver, BC
Canada
V6C 2V6
constantinemetals.com |
