- The Campaign will test for additional mineralization related to the new zinc and gold-rich VMS discovery at the Pine Bay Project;
- A maiden drill campaign will be completed at the Tara Lake Deposit, which is one of the highest-grade zinc-rich discoveries within the Flin Flon Mining District; and
- The Campaign is anticipated to include 6,000m of drilling in the Flin Flon Mining District.
VANCOUVER, Aug. 29, 2017 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has commenced its 2017 summer drilling campaign (the "Campaign") at the Pine Bay and Big Island Projects within the Flin Flon Mining District of Manitoba (See Figure 1). The Campaign is anticipated to include approximately 6,000m of drilling in the Flin Flon Mining District to follow-up on the new zinc and gold-rich volcanogenic massive sulphide ("VMS") discovery at the Pine Bay Project (See News Releases dated October 18, 2016 and May 1, 2016) and conduct a maiden drilling campaign at the Big Island Project.
Max Porterfield, President and CEO, stated, "We are excited to return to the Flin Flon Mining District to evaluate the potential size of our zinc and gold discovery at the Pine Bay Project. The nearby Tara Lake deposit also represents compelling exploration upside with high-grade intersections including 12.4m of 34% Zn Eq. and 19.4m of 24% Zn Eq." Mr. Porterfield, continued, "We plan to aggressively advance our assets in the Flin Flon and Bathurst mining districts, where we are targeting a material increase to the Nash Creek Deposit."
After the initial discovery intersected 10.3m grading 13.1% Zn Eq. (6.0% Zn, 1.8 g/t Au, 60.4 g/t Ag, 0.7% Cu and 0.4% Pb) in late-2016, a series of widely-spaced drill holes were completed to test the Cabin VMS Horizon that hosts the mineralization. Drill hole PBM-024, the last hole completed in the vicinity, intersected 2.6m of 3.0% Cu Eq. and expanded the potential strike extent of the new discovery to 180m. As a result, this follow-up drilling campaign will test for additional mineralization more closely related to the new discovery and along a 300m wide by 600m long exploration corridor (See Figure 2).
Drilling at the Big Island Project will be focused on the near surface Tara Lake Deposit, one of the highest-grade zinc-rich VMS discoveries ever made within the Flin Flon Mining District. This first-pass campaign will include confirmation drilling to obtain core samples along with subsequent lithogeochemical and geophysical testing to assist future exploration programs.
Between 1987 and 1988 Westfield Minerals discovered exceptionally high-grade zinc and gold-rich VMS mineralization over considerable widths with highlights including (See News Release dated March 20, 2017):
- DDH 87-03 intersected 12.4m of 33.9% Zn Eq. including 22.4% Zn, 5.8 g/t Au, 93.6 g/t Ag and 0.6% Cu at a starting depth of 22.0m;
- DDH 87-11 intersected 7.4m of 35.3% Zn Eq. including 20.3% Zn, 7.2 g/t Au, 110.1 g/t Ag and 1.2% Cu at a starting depth of 24.9m; and
- DDH 88-41 intersected 19.6m of 23.8% Zn Eq. including 14.6% Zn, 3.1 g/t Au, 58.6 g/t Ag and 1.7% Cu at a starting at a depth of 72.1m.
The Tara Lake Deposit represents a compelling exploration opportunity given the tenor of mineralization combined with modern geological and geophysical advancements over the last 25 years. The Company believes that western portion of the Big Island Project, which hosts the Tara Lake Deposit, may contain a similar sequence of primitive arc tholeiite volcanic rocks that host the Flin Flon, Callinan and 777 Mines and that have collectively produced over 100 million tonnes of ore.
Callinex is also continuing its 2017 Bathurst Drilling Campaign where drilling is ongoing at the Superjack Project. Approximately 30 holes totaling 7,400 meters have been drilled at the Nash Creek and Superjack projects and the Company anticipates releasing additional results within 15 days.
Jason Levers, P.Geo, a qualified person under National Instrument 43-101 and a Staff Geologist for Callinex, has reviewed and approved the technical information in this news release.
About Callinex Mines Inc.
Callinex Mines Inc. (TSX-V: CNX ; OTCQX: CLLXF) is advancing its portfolio of zinc rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by its Nash Creek and Superjack deposits in the Bathurst Mining District of New Brunswick. Callinex is actively drilling these projects in support of an updated resource estimate and maiden PEA planned for Q1 2018.
Additionally, Callinex is actively exploring its projects in the Flin Flon Mining District of Manitoba which notably includes its Pine Bay and Big Island Projects. These projects are located within 25 km to an operating processing facility that requires additional ore within four years.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.
SOURCE Callinex Mines Inc.
For further information: Callinex Mines Inc., Max Porterfield, President and Chief Executive Officer, Phone: (604) 605-0885, E-mail: [email protected]