Resource News

Callinex Mines (TSXV:CNX) has completed phase 1 of a previously announced 4,000 meter drill campaign. Two of the five holes drilled intersected high-grade copper mineralization, with one hole intersecting 18.1 meters of 5.5 percent copper equivalent over a broader interval of 44.2 meters of 4 percent copper equivalent.

Callinex Mines (TSXV:CNX) has completed phase 1 of a previously announced 4,000 meter drill campaign. Two of the five holes drilled intersected high-grade copper mineralization, with one hole intersecting 18.1 meters of 5.5 percent copper equivalent over a broader interval of 44.2 meters of 4 percent copper equivalent.

As quoted in the press release:

A total of five holes were completed for 1,425m in the vicinity of the Pine Bay deposit. The drilling campaign was successful in intersecting high-grade copper mineralization along with verifying the Company’s recently compiled geological database. These results, combined with recently verified historic work, will be valuable in the expanded Phase Two drilling campaign to be conducted this summer.

The Phase One drilling campaign focused on confirming historic mineralization and testing targets in the immediate vicinity of the Pine Bay deposit. After the first four holes were completed the Company postponed drilling several high priority targets along the favorable Sourdough Trend. The decision to postpone further drilling was due to safety concerns over ice thickness in the Sourdough Bay area of Athapapuskow Lake. The successful confirmation holes and validated geological database will be instrumental in moving forward on plans to complete a NI 43-101 Technical Report and Resource Estimate at the Pine Bay Project.

… The expanded Phase Two drilling campaign will consist of approximately 10 holes totaling a minimum of 2,500m. The objective will be to test prospective land-based targets at the Pine Bay and Flin Flon projects. The geology of the targeted areas consists of several mineralized horizons[IP1] that are similar to host rocks of the historic Flin Flon mine, where more than 60 million tonnes of ore have been mined. The Company is currently conducting ground geophysics to further evaluate the most prospective targets for drilling.

Callinex president and CEO, Max Porterfield, said:

These results demonstrate that Pine Bay hosts high-grade mineralization over considerable widths in proximity to historic underground workings and nearby processing facilities. Our team now has confidence in our database to support a modern resource estimate, which is significant given that nearly all historic drilling was completed in the 1960s. We will be expanding Phase Two of our drilling campaign this summer and are looking forward to testing several high priority land-based targets.

Click here to read the Callinex Mines (TSXV:CNX) press release

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