Callinex Mines has executed a purchase agreement to acquire land that will expand its Headway project in New Brunswick.
Callinex Mines (TSXV:CNX,OTC:CLLXF) has executed a purchase agreement to acquire landholdings that will expand its Headway project in New Brunswick’s Bathurst Mining District.
The company is looking to acquire the Headway North claim, which hosts the Pabineau deposit. The Headway project shares a property boundary with Glencore’s (LSE:GLEN) Brunswick No. 12 mine, formerly the world’s largest underground zinc mine.
As stated in the press release:
Importantly, this acquisition further solidifies a land package that covers approximately 4 km of strike length along the prolific Brunswick Horizon and encircled by mineral rights held by Glencore and Osisko Mining. Previous exploration has identified three high-priority drill targets and several untested near-surface electromagnetic anomalies.
The Headway project represents a compelling exploration opportunity with untested targets in the shadow of the world-class Brunswick No 12 Mine and located within potential trucking distance to the Company’s 100 percent owned Superjack and Nash Creek projects.
The Headway North claim also includes $36,000 in existing work credits, from work previously completed by Nexa Resources S.A., which will allow for the claims to remain in good standing until late-2024 without any additional exploration requirements.