Callinex Mines has announced that it has commenced diamond drilling at the company’s Nash Creek Zinc project in the Bathurst mining district of New Brunswick, Canada.
Callinex Mines (TSXV:CNX) has announced that it has commenced diamond drilling at the company’s Nash Creek Zinc project in the Bathurst mining district of New Brunswick, Canada.
According to the release, the drilling campaign will consist of approximately 20 to 40 drill holes totalling 3,500 to 7,000m to test potential for satellite zinc-lead-silver deposits periphery to the Nash Creek deposit.
As quoted in the press release:
The company recently completed a Preliminary Economic Assessment (PEA) which outlined a high-margin, open-pit mine plan that generates a pre-tax internal rate of return of 34.1 percent and Net Present Value at an 8 percent discount rate of C$230 million. The current drill program is a clear opportunity to significantly enhance the project’s economics with additional exploration that extends the mine life and/or allows for higher grade material to be scheduled earlier in the mine plan.
There are six main target areas that surround the Nash Creek deposit and include: Hayes South, Hayes North, Hickey East, NW Soil Anomaly, Hickey North and the Central Zone. Drilling has commenced in the NW Soil Anomaly area and will generally proceed in a southern direction.