VANCOUVER, Dec. 9 /CNW/ - Callinan Mines (TSX.V-CAA) is pleased to
provide an update on its ongoing exploration activities.
The company has recently received assays of surface samples and grab
samples obtained during the exploration program conducted this summer
on the recently optioned Troitsa property in Northern British Columbia
near Houston. Assays from the samples taken successfully confirmed the
presence of copper, gold, silver and molybdenum mineralization
associated with a granodiorite porphyry intrusion. Grab samples with
gold values as high as 7 g/mt were taken from the intrusive rock, the
average grade being 0.3 g/mt of gold. Silver values as high as 230 g/mt
were also recovered, with the average grade being 20 g/mt. Molybdenum
values in grab samples ranged from 0.08% to 0.2% with the average grade
Zinc, silver and lead mineralization was also present in the volcanic
rocks that surround the intrusion. Samples taken from up to 1.3 km
surrounding the granodiorite porphyry returned assays averaging 0.3%
lead, 0.4% zinc, and 37 g/mt silver. High silver and zinc values were
230 g/mt and 1%, respectively.
The Troitsa Option, located to the west of and adjacent to Callinan's
wholly owned Coles Creek Property, was acquired by option in June of
2010. The property consists of 17 mineral claims totaling 4,746
hectares, and is known to host several zones of mineralization.
Drilling conducted by previous operators, prior to NI 43-101 standards,
shows values of 1.02% Cu over a true width of 21.3m including 1.49% Cu
Callinan's technical team is interpreting these results as confirmation
of the great potential that was identified at Troitsa prior to
optioning the property. A drilling program is being outlined and will
likely be implemented in the summer 2011 exploration season.
Samples from the drilling program conducted on the adjacent Coles Creek
property, are still being assayed and evaluated. The program consisted
of 20 diamond drill holes in a sulphide-bearing volcano-sedimentary
structure. One such hole, COLE 28, intersected a 21.25 meter section
grading 3.368 g/mt gold, 15.33 g/mt silver, 2.04% zinc and 0.15% lead.
Assays from 6 drill holes are still being analyzed.
The first hole completed on Callinan's Gossan Hill Project, located near
the community of Cranberry Portage, MB., intersected 3.71g/mt gold and
33.33g/mt silver over a core length of 5.43 metres, at a depth of 49.82
meters, continuing to a depth of 55.25 meters. A second intersection
averaged 2.69g/mt gold and 39.64 g/mt silver over 2.09 metres at a
depth of 61.93 meters, continuing to a depth of 64.02 meters. To date,
14 holes have been completed for a total of 2,004 metres. Assays from
the remaining 13 diamond drill holes have yet to be received. Drilling
has concentrated on the central Gossan Hill Showing, which is one of
four historical showings on the property. A 5 kilometer linear trending
silicified shear zone has been identified from reports filed from
previous operators. Drilling will resume in early January, once wet
areas have frozen, improving access.
Callinan Mines maintained a QA/QC program at all stages of exploration.
Drill core recovery was calculated, measured and recorded at the Gossan
Hill Property before being cut and sampled. Samples were split in half,
one half being kept for storage and the other half placed in
pre-labeled plastic bags, tagged with the sample number and recorded in
the log. Callinan QA/QC samples (blanks and standards) were inserted
into the group of samples, then shipped to Acme Analytical Laboratories
in Vancouver, BC, where they were crushed, split, pulverized and sieved
into approximately 15 g samples at 200 mesh. Samples were then assayed
by Aqua Regia digestion ICP-MS analysis (53 elements). The lab employs
internal quality control by assaying pulp duplicates and inserting
quality control standards of predetermined values and a blank sample.
All of Callinan's exploration programs are conducted under the direction
of Pat Deveaux, P.Geo, a qualified person as defined by national
instrument 43-101, who has reviewed and approved the contents of this
Some statements in this news release contain forward-looking
information. These statements include, but are not limited to,
statements with respect to future expenditures. These statements
address future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the statements. Such factors include, among others, the
ability to complete contemplated private placements and the timing and
amount of expenditures. Callinan does not assume the obligation to
update any forward-looking statement.
SOURCE CALLINAN MINES LTD.