Constitution Mining Purchases First Drill and Appoints US-based Johnson Drilling as Lead Driller on the Gold Sands Project
Buenos Aires, Argentina - March 25th, 2009 - Constitution Mining Corp. (CMIN.OB) announces that Paul Johnson, of Johnson Drilling Company will be the lead driller on the Gold Sands Project. Additionally, CMIN is pleased to announce it has purchased a churn drill from Buckeye Supply Company of Zanesville, Ohio that's been customized specifically to enable an efficient and continuous drill program to be carried out throughout the Gold Sands Project area.
Constitution Mining CEO, Dr. Willem Fuchter commented, "Paul Johnson and his team at Johnson Drilling have extensive worldwide experience drilling gold sands-style alluvial projects with similar geological and topographical characteristics as our Gold Sands Project. They are an excellent addition to the impressive team of independent mining industry firms we have contracted to oversee and audit virtually all aspects of our Gold Sands drill program. And now that we have acquired our first drill, complete with all critical spare parts, we look forward to aggressively drilling the potential of this giant alluvial field."
The drill rig has a CAT 3024 4-cylinder diesel engine equipped with a twin disc PTO, 5" drive pulley and Braden 10 ton hydraulic winch. Ancillary equipment purchased includes a full string of drill stems, bits, casing, drive shoes, sand pumps, sample trough and drive heads for drilling classic 6" ID casing with a 7.5" OD drive shoe sample holes.
Dr. Fuchter added, "Considering that our drill rig is capable of drilling up to 30 feet per day and that we plan to drill to depths of 150 feet, we should be able to drill and report a new hole every 7 to 10 days. Therefore, Shareholder's of Constitution Mining could reasonably anticipate that once drilling begins - expected within the next few weeks - we will be delivering a consistent flow of industry recognized drill results."
About Constitution Mining Corp. Our goal is to continuously increase the amount of gold underlying each of our outstanding shares. To build such value, we are focusing on the rapidly developing Gold Sands region of Peru, where we have optioned 382 square kilometers (147.5 square miles) of mining properties - the largest such block in the district.
The Gold Sands of Peru were laid down by eons of alluvial erosion. For millions of years, the waters of the Santiago and the Marañón rivers have been carving their way through the gold-rich mountain canyons of the Andes, carrying off vast amounts of gold and depositing much of the treasure in loose gravels and sands - Gold Sands - below the Manseriche gorge in Northeastern Peru. There the rivers reach a broad flood plain, slow to a crawl and release their cargo.
Drilling results from more than 500 test holes in a 'proof of concept' zone located on Constitution Mining's properties indicate the presence of tens of millions of ounces of alluvial gold in the region. We intend to capture the profit potential of that gold by applying recently enhanced mining technologies that are especially well suited to low-density, near-surface deposits. These green-mining technologies are energy-efficient and environmentally friendly -- features that support their profitable use.
Disclaimer This release contains forward-looking statements that are based on the beliefs of Constitution Mining Corp. management and reflect Constitution Mining Corp. current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate, "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Constitution Mining Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date indicated in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Constitution Mining Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.