Constantine Metal Resources Ltd. (TSX-V: CEM and OTC Other: CNSNF) provided an update this morning for a drill program currently being conducted by Ocean Park Ventures Corp. on the Company’s 100% owned Trapper Gold project, northern British Columbia. The drilling is part of a 100% partner funded $4.9 million Phase I exploration budget announced in July of this year. Ocean Park has the right to earn a 70% interest in the project by spending $9.75 million in work expenditures and issuing certain cash and share payments to Constantine.
Ocean Park reports that over 2,600 meters of diamond drilling have been completed in 13 of 25 planned diamond drill holes. Twelve of thirteen drill holes have intersected 1 to 3 zones of sulphide mineralization associated with intense carbonate and/or silica alteration over widths of between 5 and 97 metres. Assay results are pending for all drill holes.
We have included a snapshot of the aforementioned drill core below, and as you can see there is some very prominent visible gold in this core. Based on the thickness and lateral extension of this newly discovered structural anomaly and the type of mineralization encountered of intense carbonate and/or silica alteration, we see fantastic potential here for a very big discovery. Constantine shares will resume trading again at 9:15am PDT and we will continue to keep you up to date on developments as they happen at CEM’s Trapper property.