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Callinex Mines Inc.
Summary
| Project: | Flin Flon | |
|---|---|---|
| Deposit: | Big Island | |
| Location: | Canada | |
| Commodities: | Zinc-Gold-Silver | |
| Date: | 1/12/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-1-2018: Callinex Mines Inc. announces an Exploration/Drilling Update report for its Big Island deposit at the Flin Flon project. Drilling results incl. 7.9m @ 2.5% Zn, 0.42g/t Au from 69.5m. VANCOUVER, Jan. 12, 2018 /CNW/ - CallinexMines Inc. (the"Comp | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jason Levers (Not stated) | |
| ABSTRACT: | VANCOUVER, Jan. 12, 2018 /CNW/ - CallinexMines Inc. (the"Company"or"Callinex") (TSX-V:CNX; OTCQX:CLLXF) is pleased to announceresults fromthe 2017 summer drilling campaign (the"Campaign")at the Pine Bay and Big Island Projects within the Flin FlonMining District ofManitoba(See Figures 1,2 and 3). The Campaign consisted often holes totaling 5,350mof drilling to conducta maiden programat the Company's Big Island Projectand follow-up on high-grade volcanogenic massivesulphide("VMS") mineralization at the Pine Bay Project. The maiden drilling campaign at the Big Island Project, which hosts the high-grade Tara Lake Deposit,consisted offive holes totaling 1,480mto test the down-plunge potential,confirmthe orientation ofafault reported to have displaced part ofthe depositand test for lateralextensions of mineralization. This programconfirmed that thefault is likely responsiblefor displacing a portion ofthe depositalong the projected plunge. Drill hole TZ17-03 tested fora possiblefold noseclosureand intersected 7.9mof 2.5%Zn and 0.42 g/t Au atastarting depth of 69.5mincluding 0.2m of 28%Zn, 1.9 g/t Au and 42.7 g/t Ag atastarting depth of 76.9m. Significantly, multiple boreholesurveys identified conductors down-plungethat represent potentialfor mineralization in a proximalsetting. In particular, hole TZ17-02 whichwas drilled approximately 500msouth along the projected plungeline, identified a untested borehole pulse electromagneticconductor with astrikeextent of 450mand a plungeextent of 675m, with acoincidentmagneticsignatureindicative ofmassive sulphides (See Figure 4). This target will betested as part ofan upcoming 2018 drilling programand theresults willassist the Company to determine whether to proceed further with the option agreement. Afollow-up drilling programat the Pine Bay Project wascompleted to test forcontinuity between drill holes 284-3-93-DPN that previously intersected 10.3mgrading 13.1%ZnEq.and drill hole PBM-024 located 180malong strikethat intersected 2.6mof 3.0%CuEq. (See News Release dated May 1, 2017). Drill hole PBM-030 reached its intended targetand intersected intensealterationwith abundant pyrite mineralization beforeintersecting a post-mineralized intrusion (See Figure 5). Thereappears to beasignificant dyke or sillthatcould limit the overall potentialsize ofthiszone. | |
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