CONSTANTINE-CARLIN
JV ACQUIRES STRATEGIC CLAIM BLOCK
IN YUKON�S NEW CARLIN-TYPE GOLD DISTRICT
Constantine Metal
Resources Ltd. (�Constantine�) (TSX Venture - CEM) and Carlin Gold
Corporation (�Carlin�) (TSX Venture - CGD) jointly (the
"Companies") are pleased to announce the staking of additional
claims in the Mayo Mining District, east central Yukon, Canada. The 152 claim
HG block (7600 acres, 31 square kilometers) borders ATAC Resources Ltd.�s Rau Property, where Carlin-type gold
mineralization has recently been discovered. The HG claims are located
adjacent to a known cinnabar and native mercury occurrence, and cover
drainages that contain gold and share similar tenor pathfinder element
anomalies to those at the Rau Property Osiris discovery � including samples
exceeding the 95th percentile for arsenic and mercury*.
The Constantine-Carlin
50/50 Joint Venture (the �Joint Venture�) was formed in the early fall of
2010 specifically to target and explore for Carlin-type gold deposits in the
Yukon. The Joint Venture moved quickly to establish a large land position in
this emerging gold frontier, acquiring areas with permissive geology and
drainages with strong geochemical anomalies. The Joint Venture now controls a
total of 2,453 claims and approximately 500 square kilometers (195 square
miles) which represents one of the largest property positions in this new
district located within the Selwyn Basin, east central Yukon.
Highlights of the HG Block
- The claim block is
adjacent to a known cinnabar and native mercury occurrence; this is
believed to be the only known mercury occurrence in the district.
Mercury is commonly associated with Carlin-type gold deposits and there
is a known spatial relationship between cinnabar (HgS)
and some large Carlin-type gold deposits in Nevada.
- The claims are located
approximately mid-distance between the Osiris discovery and a realgar-orpiment occurrence that was recently
announced by Strategic Metals on its Crag property (Figure 1).
- The claims cover drainages
that contain elevated gold and are highly anomalous in the pathfinder
elements arsenic and mercury.
- Carbonate-bearing units, the
most favorable hosts for Carlin-type gold deposits, are present on the
claims.
- The claims cover zones of
clay and iron oxide alteration as identified from satellite imagery
analysis conducted by the Joint Venture.
- There is no record of prior
exploration on the claims, however exploration immediately to the north
has identified several base metal occurrences and lead-zinc-silver soil
anomalies as well as northeast trending fault structures that project
onto the HG block
The Joint Venture is
making plans for aggressive exploration of its large Yukon land package in Q2
2011. Despite highly anomalous geochemistry and favourable
geology, most of the region has received virtually no modern methodical
exploration for gold. The opportunity is highlighted by several large gold
discoveries made recently in the Yukon, where raw stream sediment and soil
anomaly stage prospects advanced rapidly into major drill hole
discoveries. Additional figures and information on the Joint Venture�s large
Yukon land package can be found at www.constantinemetals.com or www.carlingold.com.
About Constantine
Constantine is a gold and
copper exploration company with multiple active projects located in premier
North American exploration environments. These are highlighted by the 100%
owned Palmer Project, where Constantine has discovered a new
copper-zinc-silver-gold deposit in a very accessible part of southeast
Alaska, and the Munro-Croesus Project, that includes a past-producing mine
property that yielded some of the highest grade gold ever mined in Ontario.
The Palmer Project contains a National Instrument 43-101 compliant 4.12
million tonne inferred resource grading 2.01%
copper, 4.79% zinc, 0.30 g/t gold and 31 g/t silver (using an NSR cut-off of
US$75/t; see news release dated January 20, 2010) that is open to expansion.
Constantine controls a
major land position in an emerging new Carlin-type gold district in Yukon
that is part of a 50/50 joint venture with Carlin Gold Corporation, and
recently optioned its Trapper Gold Project in northern British Columbia to
Ocean Park Ventures Ltd. which is committed to spend a minimum $750,000 this
year as part of its $4.75 million 50% earn-in. The drill ready Trapper Gold
Project hosts a +2000 meter long by 200 meter wide gold-arsenic soil anomaly
with values up to 8.6 g/t gold. In addition, Constantine has a 100% interest
in the 8300 hectare Phoenix Gold project in the active Shining Tree gold
area, Ontario and a 100% interest in the newly acquired Hornet Creek
gold-copper-barite prospect in west-central Idaho.
About Carlin
Carlin is a gold
exploration company focused in Nevada and Yukon Territory. Carlin owns 100%
of three properties in Nevada, all of which represent Carlin-type gold
targets. Two of Carlin�s properties are located in the Cortez gold trend.
Carlin�s Cortez Summit property is located four miles east of Barrick�s new Cortez Hills gold
mine, in a similar geologic environment. The Willow Creek property is located
in an emerging new gold belt in northeastern Nevada. Willow Creek occurs
northwest of the new Long Canyon gold discovery, which is part of the
recently announced Newmont acquisition of Fronteer
Gold, a proposed $2.3 billion transaction.
Figure 1. Property location map.
On Behalf of Constantine Metal
Resources Ltd.
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On Behalf of Carlin Gold Corporation
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�Garfield MacVeigh�
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�K. Wayne Livingstone�
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President
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President
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Investor relations
enquiries, please contact:
R.E. (Bob) Jeffery
Phone: 250-335-2011
Email: bob@constantinemetals.com or Email: info@constantinemetals.com
www.constantinemetals.com
*Percentiles are determined based on analysis of a
Yukon government geochemical database containing over 30,000 regional silt
samples collected from across the Territory.
Darwin Green P.Geo, Vice
President for Constantine Metal Resources Ltd. and a qualified person as
defined by Canadian National Instrument 43-101, has reviewed and approved the
technical information contained in this release. Robert Thomas, Vice
President for Carlin Gold Corporation and a qualified person as defined by
Canadian National Instrument 43-101, has reviewed and approved the technical
information contained in this release on behalf of Carlin Gold Corporation.
Forward looking statements: This news release
includes certain �forward-looking information within the meaning of Canadian
securities legislation and "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995
(collectively "forward looking statements")� concerning the
Companies� plans for their properties, operations and other matters.
Forward-looking statements include predictions, projections and forecasts and
are often, but not always, identified by the use of words such as �seek�, �anticipate�,
�believe�, �plan�, �estimate�, "forecast", �expect�,
"potential", "project", "target",
"schedule", budget" and �intend� and statements that an event
or result �may�, �will�, �should�, �could� or �might� occur or be achieved
and other similar expressions and includes the negatives thereof. All
statements other than statements of historical fact, including, without
limitation, statements regarding potential mineralization, the estimation of
mineral resources, the realization of mineral resource estimates,
interpretation of prior exploration and potential exploration results, the
timing and success of exploration activities generally, the timing and
results of future resource estimates, permitting time lines, metal prices and
currency exchange rates, availability of capital to the Companies and their
joint venture partners, government regulation of exploration operations,
environmental risks, reclamation, title, statements with respect to the
future price of gold and other metals, and future plans and objectives of the
Companies are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to
be accurate and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking statements are
based on a number of material factors and assumptions. Important
factors that could cause actual results to differ materially from Companies�
expectations include actual exploration results, changes in project
parameters as plans continue to be refined, results of future resource
estimates, future metal prices, availability of capital and financing on
acceptable terms to the Companies and their joint venture partners, general
economic, market or business conditions, uninsured risks, regulatory changes,
defects in title, availability of personnel, materials and equipment on a
timely basis, accidents or equipment breakdowns, delays in receiving
government approvals, unanticipated environmental impacts on operations and
costs to remedy same, and other exploration or other risks detailed herein
and from time to time in the filings made by the Companies with securities
regulators. Although the Companies have attempted to identify important
factors that could cause actual actions, events or results to differ from
those described in forward-looking statements, there may be other factors
that cause such actions, events or results to differ materially from those
anticipated. There can be no assurance that forward-looking statements
will prove to be accurate and accordingly readers are cautioned not to place
undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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