Palmer Zn-Cu-Ag-Au VMS project - A World Class Exploration Opportunity
Target:
Greens Creek-type volcanogenic massive sulphide (VMS) deposit (>20million tons). At Green’s Creek the mining reserve is 7.5 million tons grading 14.4 opt Ag, 0.12 opt Au, 10.24% Zn and 3.89% Pb. The global resource is 24 million tons at slightly lower grade.
Highlights
The stage has been set to explore and define a world-class massive sulphide deposit system with the next serious phase of exploration drilling at Constantine’s 100% controlled Palmer project near Haines, Alaska. The key ingredients are:
- The early stage RW zone (Glacier Creek) discovery that requires 15,000 to 25,000 feet of drilling to establish a resource.
- Confirmation of stacked sulphide horizons that can be evaluated by extending RW Zone drill holes to test the underlying Main Zone..
- Recognition and confirmation that base metals have been oxidized and leached from the thick barite rich Main zone surface prospects and limited drilling by previous companies intersected the near surface sulphide leached portion of these barite zones.
- An 1800 to 3500 foot drill program at the Cap target where massive barite-chert-pyrite beds are hosted by a 300 foot thick silver-rich baritic-pyritic alteration zone offers excellent potential for a new discovery. The target lies on the northeast edge of the mineral corridor linked to the source of the Mount Henry Clay (MHC) high grade boulders.
- A combined nine mile strike length in two mineralized corridors that hosts several high-grade massive sulphide prospects and numerous showings. The flat plunge of the mineralized corridors allows much of the strike length to be ultimately tested by surface drill holes. The rugged terrain combined with the flat plunge facilitates early access to the mineralized zones by lateral development rather than more costly vertical shaft access.
- The project area is 40 miles by road from a deep sea port at Haines that is essential for the efficient transport of concentrate to Pacific Rim markets.
- Hydroelectric power is currently supplied to the area from Skagway and from a local hydroelectric power development site approximately 20 miles down the road from the project area.
- The immediate vicinity of the project is subject to active resource extraction in the form of gold placer mining and logging.
- The Palmer Property consists of a contiguous block of land consisting of 340 federal unpatented lode mining claims, which cover an area of approximately 6765 acres (~2738 hectares or 27 square kilometres).
- Boliden’s (now Breakwater Resource’s) 4000 tonne per day Myra Falls Operation is remarkably analogous to the Palmer project and offers similar exploration and development challenges. Because much of Palmer is above tree-line, the extensive nature of a large linked hydrothermal system is now readily apparent, unlike Myra Falls which took many years to develop the geological framework. Early development at Palmer also benefits from existing road access to lower elevations on the property, a nearby hydroelectric power supply, numerous options to consider for plant and tailings site, an unlimited local gravel supply, and a deepsea port at the local community of Haines that can also provide living accommodation and a local labour pool.
PALMER PROJECT LOCATION
MYRA FALLS & PALMER – LONG SECTION COMPARISON
