VANCOUVER, Jan. 6, 2012 /CNW/ - Callinex Mines (TSX.V - CNX) is pleased
to report that a drilling permit has been received for their Gossan
Hill Property near Cranberry Portage, Manitoba. Two diamond drills rigs
are currently being mobilized to the property in preparation for a
winter drill program.
The 2012 winter program will consist of approximately 10,000 meters of
diamond drilling in a planned 37 drill holes. The program will test
known gold-bearing structures identified during Callinex's 2010/11
drilling program, as well as new targets defined by the Company's soil
geochemical program conducted in the summer of 2011.
The 2010/11 winter drilling program at Gossan Hill consisted of 32 holes
(one hole having been abandoned) for a total of 5,997 meters. All 31
completed holes returned gold and silver mineralization in encouraging
widths and concentrations. Highlights include: GOS 11, grading 9.47
grams of gold per tonne, and 16.52 grams of silver per tonne over a
core width of 4.70 meters, GOS 25, grading 9.73 grams of gold per
tonne, and 6.91 grams of silver per tonne over a core width of 5.75
meters, GOS 28 with 4.60 grams of gold per tonne and 15.13 grams of
silver per tonne over 23.81 meters of core length, GOS 30 grading 4.21
grams of gold per tonne and 12.69 grams of silver per tonne over 15.91
meters of core length. (please refer to Callinex.ca for a full list of
results to date).
In the 2011 programthe Company had tested the Gossan Hill Zone along 300
metres of strike length, and to a vertical depth of 350 metres from
surface before the program was suspended for spring break-up. The zone
is considered to be open along strike and depth. One of the planned two
drill rigs will be committed to testing the structure's extensions
along strike and depth in 2012.
The summer 2011 surface Mobile Metal Ion (MMI) geochemical sampling
program was designed to expand the Company's understanding of the
gold-bearing structure, as well as to search for similar structures
along the four kilometer intrusive-volcanic contact. Results clearly
defined the known Gossan Hill Zone, as well as a second strong anomaly
two kilometers southeast, along the previously unknown horizon. The
second drill rig will begin drill testing of this anomaly as part of
the current program.
The gold and silver mineralization at Gossan Hill is strongly associated
with sulphide mineralization, (pyrite, chalcopyrite and galena), within
quartz-carbonate veining adjacent to a sheared intrusive/volcanic
contact zone. Interpretations of mapped geology indicate that the
structure has a strike length of at least four kilometers.
Callinex has acquired a 100% interest in 7,191 hectares of the Gossan
Hill Property by staking. The Company can earn 100% of an additional
3,679 hectares, subject to a 2% NSR, 50% of which is recoverable, under
a three year option agreement.
About Callinex Mines Inc.:
Callinex Mines was listed on the TSX Venture Exchange in July of 2011
pursuant to a spin-out transaction. The company consists of the former
exploration division of what is now Callinan Royalties. The company is
dedicated to the exploration and development of mineral properties in
On Behalf of the Board of Directors,
All of Callinex's exploration programs are conducted under the direction
of J.J. O'Donnell, 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 work programs and the timing and
amount of expenditures. Callinex does not assume the obligation to
update any forward-looking statement.
SOURCE Callinex Mines Inc.
For further information:
Braden Maccke, 555 W. Hastings Street, Suite 1110, Vancouver, BC V6Z 1G3, Telephone: 604-605-0885, Fax: 604-605-0886, Email: firstname.lastname@example.org, Website: www.callinex.ca