Callinex Mines Announces Fully Funded 2016 Drill Campaign

Callinex Mines Inc. (TSXV:CNX,OTCQX:CLLXF) announced a 2016 drill campaign at its Manitoba-based Pine Bay project. The campaign, which is fully funded, will start in January and will consist of a winter and summer phase.
As quoted in the press release:

The program is anticipated to follow-up on success from the 2015 exploration campaign, which included a VMS discovery adjacent to the Company’s Sourdough Deposit. The objective of the 2016 campaign is to identify additional high-grade VMS mineralization rich in copper, zinc, gold and silver that has potential to be associated with a large deposit.
The Company’s 2015 summer drilling campaign, which included three holes totaling 3,111m, led to the discovery of a VMS zone within drill hole SDB001 that intersected 7.4m of 1.58% Cu Eq. including 2.4m of 2.2% Cu Eq. It is projected that drill hole SDB001 is located at the top corner of a larger mineralized body that continues along strike to the south and at depth for at least 100m in each direction. This projected strike length compares favorably with the historic mines in the belt, which often range between 150m to 250m. It is anticipated that a minimum of 2,000m will be completed in the Sourdough area to follow-up on newly discovered mineralization and high-priority targets.
In addition to planned drilling at the Sourdough area, several holes will be completed in the Pine Bay Deposit area targeting potential for a large mineralized body. During the 1990s, Placer Dome, who had a mandate to identify a 30 million ton VMS deposit at depth, explored the Pine Bay area. Callinex plans to test newly identified targets in areas where Placer Dome also recommended additional drilling including the down-plunge and lateral extensions of the known Pine Bay Deposit.

Click here to read the full Callinex Mines Inc. (TSXV:CNX,OTCQX:CLLXF) press release.