Callinex Mines (TSXV:CNX) has announced a strategy to discover and develop high-grade copper and zinc volcanogenic massive sulphide deposits in Manitoba. The company will focus on its highly prospective Flin Flon and Pine Bay projects in the province.
As quoted in the press release:
The Company has identified its Flin Flon and Pine Bay projects as the focus of future exploration based on potential to host the region’s next VMS deposit. Both projects are located within 20 km by road to Hudbay Minerals Inc.’s processing facility in Flin Flon, MB, which is projected to require additional ore in the coming years.
Callinex president and CEO, Max Porterfield, said:
I am eager to lead the renewed exploration focus on VMS deposits within the Flin Flon mining camp. Prior to the 2011 spinout from Callinan Mines, the Company has benefited from several VMS discoveries based in its project portfolio, including the Callinan and 777 mines. Additionally, existing infrastructure and Manitoba’s favorable permitting environment can be leveraged to significantly reduce capital costs and lead times to production.” Mr. Porterfield added that the strategic shift in focus, “comes at a time when the zinc market faces a medium-term supply deficit and copper continues to have positive long-term fundamentals.