Constantine Acquires Golden Mile Property Timmins Gold Camp

Constantine Metals (OTC Other: CNSNF; TSX-V: CEM) has entered into an agreement to acquire a 100% interest in the 423 claim unit, 68 square kilometer, Golden Mile property near Timmins, Ontario.  The Property is located 9 kilometers northeast of Goldcorp’s multimillion ounce Hoyle Pond deposit and is comparable in size to the West Timmins and Main Camp holdings of the major gold production companies operating in the Timmins Gold Camp. 

The Golden Mile Property covers the important Pipestone Fault System where it crosses the “Porcupine Giant Mine Corridor” that has produced more than 55 million ounces of gold. This structural intersection, which contains excellent targets within the Kidd-Munro volcanic sequence and adjacent Porcupine sediments, is overburden covered and has seen very limited drill testing for gold. The past-producing Clavos Gold Mine is located 5.4 kilometers to the east of the Property and the Frankfield East gold deposit (1.2 million ounces gold) lies 14 kilometers northwest of the Property, on or near the Pipestone Fault system. A major flexure in the Pipestone Fault system where it is crossed by the projection of the “Porcupine Giant Mine Corridor” is considered to be a favourable structural feature that may localize gold deposits.

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Constantine to Spin Out Yukon Gold Assets

Constantine Metals (OTC Other: CNSNF; TSX-V: CEM) has signed a letter of intent with Carlin Gold and Urban Select Capital to spin out the Constantine-Carlin Yukon joint venture assets (the “Yukon Properties”) into a subsidiary of Urban Select (“SpinCo”).  The spin-out will consolidate the joint venture ownership of the Yukon Properties into one company and allows Constantine to focus its efforts on the Company’s core assets in Alaska and Ontario. Under the terms of the LOI, Constantine will receive $500,000 in cash and approximately 14.2 million shares in the SpinCo as well as future share payments if mineral resources are defined on the Yukon Properties. Concurrent with completion of the transaction SpinCo is to complete a $4,000,000 financing that will fund the cash portion of the acquisition cost and provide working capital to explore and drill the Yukon Properties in 2012. Constantine’s anticipated pro forma ownership of the new company will be 28.7 percent, with an estimated market value of $3.5 million. Constantine will have board representation in SpinCo and provide technical advisory services.

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Constantine Reports Additional Drill Results at Trapper Gold Property

Constantine Metal Resources (OTC Other: CNSNF; TSX-V: CEM) has final results from the 2011 drill program(100% partner funded) carried out on the Company’s 100% owned Trapper Gold project, northern British Columbia.  Mineralization at the Main Gold zone has now been confirmed in drilling over a strike length of 2.3 kilometres. New results include gold-rich sulfide stockwork, including semi-massive mineralization, at the west end of the zone where it has a north-south width of 100 to 150 metre and been drilled to a depth of 150 metres. The zone projects to surface where grab samples have returned up to 14.05 g/t gold, and remains open at depth and along strike. Results of drilling into this target, as provided by Ocean Park, are summarized below.

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Constantine Metal Resources to Appear in Upcoming Yukon Mining Program – ‘The Next Biggest Winner’

Darwin Green, VP Exploration for Constantine Metal Resources (TSX-V: CEM; OTC Other: CNSNF) will be discussing the Company’s 1,000 square kilometer, district scale Yukon gold exploration project in an upcoming panel discussion titled “Investing in Yukon Gold” to be televised on the IChannel December 29, 2011 at 7:30pm EST, and will be re-aired on January 1, 2012 at 7:30pm EST. The website for the program estimates a potential viewing audience of up to 300,000 for this premiere episode, so this could be some excellent exposure for Constantine. Check your local programming guide to see if your system carries IChannel programming – or you can view an archive version of the show online after the air date at: www.blutreetv.com

To view a trailer for the upcoming panel discussion on the Yukon region, just click on the graphic below.

Constantine Reports Trapper Gold Drill Results

Constantine Metal Resources (OTC Other: CNSNF; TSX-V: CEM) now has initial assay results from the 2011 drill program at the Company’s 100% owned Trapper Gold Property. The drill program was carried out and funded by Ocean Park Ventures, which can earn a 70% interest in the property by spending $9.75 million in work expenditures and issuing certain cash and share payments to Constantine.  To date, 8,581 meters have been drilled across 42 holes, 24 of which have assays available.  Highlights include in drill hole TG-11-011, 2.51 g/t gold over 22.86 meters, including 9.18 g/t gold over 4.26 meters. 

Gold-silver +/- copper, lead, and zinc mineralization has been identified in multiple different environments within an inferred large copper-gold porphyry setting.  At the Main Zone, drilling has intersected gold mineralization over a 2.2 kilometre strike length and includes both porphyry hosted and structurally controlled gold. Porphyry hosted mineralization, which represents a potential bulk tonnage target, consists of disseminated and stockwork sulphide within near-surface feldspar porphyry dykes and sills. 

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Constantine Reports Final Drill Results at Munro-Croesus Gold Project, Ontario

Constantine Metal Resources Ltd. (OTC Other: CNSNF and TSX-V: CEM) announced today the final round of results, with several new high-grade gold intersections, from the 100% owned Munro-Croesus Gold Project drill program located 75 kilometers east of Timmins, Ontario. The 7280 meter drill program tested the Croesus Mine target at shallow and moderate depths, and the Four Corners property at the Canamax and Perry Pond targets.

In the release Garfield MacVeigh, President and CEO of the Company stated: “The 2011 Munro Croesus drill program has documented significant gold mineralization in multiple different areas of the greater Munro Croesus project. Combined with the potential for extensions of Lake Shore Gold’s Fenn-Gib deposit (acquired from Barrick for $60 million) immediately along strike onto Constantine ground, the project area offers a great opportunity to build shareholder value.”

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Constantine Defines 6.5 Kilometer Gold and Arsenic Soil Anomaly

Constantine Metal Resources (OTC Other: CNSNF; TSX-V: CEM) is exploring for Carlin-type gold deposits in Yukon’s Selwyn Basin, and in a 50/50 JV with Carlin Gold, controls 4,967 claims in twelve gold property areas totaling approximately 1,000 square kilometers.  Approximately 12,000 soil, silt and rock samples have been collected to date as part of a $1.2 million exploration program.

At the TUT property, laboratory data has confirmed and expanded a gold and arsenic soil anomaly, which spans 6.5 kilometers in length and ranges from 300 to 1200 meters in width.  Individual soil samples within this area are as high as 2.81 g/t gold and 5.87% arsenic.  On-site XRF analysis of detailed infill grid samples has defined a greater than 1000 ppm arsenic core to the anomaly that is 1.5 kilometers in length and 500 meters in width.  Gold assays for over 1600 infill soil grid and rock chip samples are pending.  Seven mineralized grab samples from initial prospecting within the 1000 ppm arsenic core anomaly area range from 2.01 g/t gold to greater than 10 g/t gold, with an average grade of 5.21 g/t gold (overlimit assay is pending for sample exceeding upper analytical limit of 10 g/t)*. The core of the soil anomaly correlates with a zone of altered and heavily fractured rhyolite dikes that are commonly associated with quartz-arsenopyrite veining.  Dikes within the zone average 35 to 50 meters in width and are located near the outer edge of a contact metamorphic aureole, approximately one kilometer outboard of a Cretaceous-age quartz monzonite stock.

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Constantine’s Partner Reports Update on 25 Hole Drill Program at Trapper Gold Project, BC – Shares to Commence Trading at 9:15am PDT

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.  

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Constantine Metal Resources Ltd. Halts Trading Pending News

Constantine Metal Resources (TSX-V: CEM and OTC: CNSNF) halted trading this morning pending news.

Constantine-Carlin JV Commences Work Program on Sixteen Yukon Gold Properties

Constantine Metal Resources Ltd. (TSX-V: CEM and OTC Other: CNSNF) and Carlin Gold Corporation (TSX-V: CGD) jointly announced today the start of exploration work on Yukon gold properties of the Constantine-Carlin 50/50 Joint Venture. The release also announced the staking of 1,541 additional claims in six areas prospective for Carlin-type mineralization in the Mayo and Watson Lake Mining Districts, east central Yukon, Canada.

The Constantine-Carlin Joint Venture was formed in the early fall of 2010 specifically to target and explore for Carlin-type gold deposits in the Yukon’s Selwyn Basin.  The JV now controls a total of 4,967 claims  in twelve project areas, comprising approximately 1,000 square kilometers (385 square miles) which represents one of the largest property positions in this new district.  

A 2011 program of $1.2 million has commenced.  It is designed to rapidly evaluate targets and, subject to sampling results, advance them to the drill testing stage in 2011.  

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