Property Information
The Palmer Property is located in the Porcupine Mining area, 55 km, by road, northwest of the deep sea port of Haines, Southeast Alaska, at the northern terminus of the Alaska Marine Highway system. The 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). Constantine has a 99 year lease and must make annual cash payments of US$42,500 to the property owners (50% Haines Mining-Exploration, Inc., and 50% Alyu Mining, Inc.). The owners retain a 2.5% NSR. There are no annual work commitments. To maintain the federal claims in good standing requires an annual cash payment of $125/claim or US$ 42,500 to the Bureau of Land Mangament (BLM).
Geology and Mineralization
The Palmer project is located in the Alexander Terrane, within marine sedimentary and volcanic rocks of Devonian to Triassic age. These rocks correlate with host rocks of the giant Windy Craggy deposit, (297 million tonnes at 1.4% Cu, 0.07% Co, 0.2 g/t Au, and 3.8 g/t Ag), and the high-grade Greens Creek deposit (7.5 million tons grading 14.4 opt Ag, 0.12 opt Au, 10.24% Zn and 3.89% Pb, and a global resource of 24 million tons at slightly lower grades). The numerous showings and prospects on the Palmer property occur along two mineralized trends over a combined strike length of at least 9 miles. Repetition of the principal mineralized horizons by folding is interpreted to account for the distribution of at least 25 separate base metal and/or barite occurrences) across the property. Recent work has established the existence of more than one stratigraphically stacked mineralized horizon. Notable prospect areas include Glacier Creek, Mount Henry Clay (MHC), Cap, Nunatak, Hanging Glacier (HG), the Gullies, Boundary and Red Creek. The showings/occurrences are associated with interpreted exhalative horizons in a thick sequence of basalt flows with interbeds of sediments, andesite flows and tuffs and fragmental and massive rhyolites. Extensive pyrite-sericite schists and siliceous rocks provide a common link to the showings suggesting the presence of a very large extensive mineralized system. The Glacier Creek prospect has received the most attention. Mineralization at Glacier Creek consists of two major stratiform horizons, the RW and Main horizons, hosted within a mafic-dominant bimodal volcanic stratigraphy. Significant drill intersections of the RW horizon include 10.86% zinc, 0.13% lead, 0.23% copper, 0.134 g/t gold and 44.4 g/t silver over 5.12 meters, 13.51% Zn, 0.21% Cu over 2.2 m, 5.85% Zn, 1.89% Cu over 2.5 m, and 4.01% Zn, over 4.6 m. The two horizons at Glacier Creek are open downdip, and also appear to be repeated across a large-scale south-overturned anticline, which is cored by a south-directed reverse fault. At the Mount Henry Clay (MHC) prospect, abundant high-grade baritic massive and semi-massive sulfide boulders occur near the limits of a perched or stranded glacier. The average grade of a large number of the boulders is: 19.3% Zn, 1% Cu, 0.4% Pb, 38.2 g/t Ag, 0.22 g/t Au, and 20.6% Ba. Although the source of the boulders has not been determined, the area remains attractive for discovery. Silver-and barite-rich stratiform mineralization at the Cap prospect (134 g/t Ag over 23 m) remains virtually untested at depth and laterally, and other occurrences on the property have also yielded excellent precious-metal values (e.g., 11.84 oz/ton Ag and 0.092 oz/ton Au in a bulk sample of baritic semi-massive sulfide from Nunatak, and up to 198.9 g/t Ag, 1.58 g/t Au, 14.1% Zn, 2.3% Pb, and 0.36% Cu from massive sulfide at the HG prospect). Lithologies are metamorphosd to greenschist grade.
PALMER PROPERTY AND PROSPECTS MAP
Exploration History
Base-metal sulfides and barite were first discovered in the Glacier Creek prospect area (Main and Upper Main occurrences) in 1969 by local prospector Merrill Palmer. Past exploration on the Palmer Property includes more than 8300 m of diamond drilling in 38 holes by six companies since 1979. To date, drilling has focused on three separate zones or target areas. Of the 35 hole total, 13 holes (2957 m) targeted the source of high-grade float at the Mt. Henry Clay prospect, 4 holes (557 m) tested silver-rich mineralization at the Cap prospect, and 18 holes (4078 m) tested a variety of targets at the Glacier Creek prospect.
