Constantine Acquires Trapper Lake Gold Property in Northern British Columbia

Constantine Acquires Trapper Lake Gold Property in Northern British Columbia

Constantine Metal Resources Ltd. announce that is has signed an agreement to acquire an undivided 100% interest in 9 contiguous mining claims (3,756 hectares) that make up the Trapper Lake property (the “Property”), located in the Atlin Mining Division in northern British Columbia. The Property lies 45 km north of the Golden Bear mine road, accessed from Dease Lake and 200 km south of the Yukon-BC border.

The Property covers a very large gold-in-soil anomaly that has yet to be drill tested. The gold anomaly has been established with more than 900 soil samples defining a greater than one kilometer long zone that averages 100 to 200 meters in width and remains open ended along strike (to see Figure 1 and Figure 2 please click on: The gold anomaly is associated with mafic volcanic rocks assigned to the Triassic aged Stuhinni Group that are intruded by diorite and dacitic feldspar porphyry stocks. Extensive iron carbonate-silica alteration suggests that the soil anomaly is associated with a robust large scale hydrothermal system.

Garfield MacVeigh, president states, “The Trapper Lake property represents an exceptional early stage gold exploration opportunity. It is rare to find a project with such a large and high tenor geochemical soil anomaly lacking any prior drilling. Recent major gold discoveries in the Yukon, made following up gold-in-soil anomalies, highlight the opportunity.”

In order to acquire a 100% interest in the project, Constantine must make cash payments totaling C$135,000 ($15,000 paid on signing the Agreement) and 155,000 shares or C$155,000 cash at Constantine’s election, over a 4 year period. The vendor will retain a 2.5% NSR royalty of which 1.0 % can be purchased by Constantine at any time for C$500,000 with a right of first refusal on the remaining 1.5% NSR royalty. The acquisition is subject to regulatory approval.

Historical work in the early 1980’s by Chevron Minerals of Canada, outlined a large-scale, high-tenor gold-in-soil geochemical anomaly with initial reconnaissance soil sampling followed by 700 grid controlled soil samples that is now known as the Trapper Lake property (previously referred to as the Inlaw property by Chevron). Within the greater than one kilometer long anomaly, 13 individual soil samples yielded gold values greater than 1000 ppb gold (1.0 g/t), and two sites yielded greater than 8000 ppb (8.0 g/t) gold. The anomaly also encompasses numerous supportive +100 ppb Au values, and it also appears to be open to the west, near the valley bottom of Inlaw Creek. A 1984 Chevron follow-up program carried out prospecting and preliminary mapping with more than 30 grab samples and 11 channel samples. One grab sample assayed greater than 10,000 ppb gold and the 11 one meter channel samples averaged 1.9 g/t gold and 9 g/t silver with a range of 0.3 g/t gold to 6.2 g/t gold. Further work recommended by Chevron geologists was apparently not carried out.

A validation sampling program was carried out on the Property in July 2008 by Richfield Ventures Corp. Of a total of 221 soil samples, 69 returned values greater than 100 ppb gold, with 12 geochemistry samples yielding greater than 1.0 g/t, and a high of 3.75 g/t (3750 ppb). Silver values ranged up to 11.4 ppm, with zinc ranging up to several thousand ppm, lead up to 8668 ppm, and arsenic up to 3635 ppm. Constantine is currently evaluating exploration strategies and plans for the Trapper Lake property.

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