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Callinex Mines Inc.
Summary
| Project: | Nash Creek | |
|---|---|---|
| Deposit: | Nash Creek | |
| Location: | Canada | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 4/16/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-4-2018: Callinex Mines Inc. announces a Resource Estimation report for its Nash Creek deposit at the Nash Creek project. Updated mineral resource estimate at project. VANCOUVER, April 16, 2018 /CNW/ - CallinexMines Inc. (the"Company"or"Callinex") (TSX- | |
| Resources: | (Resource): 13.592Mt @ 3.21% ZnEq. (Ind.) and 5.929Mt @ 3.11% ZnEq. (Inf.) at project | |
| CP/QP: | [Resources]: James Barr (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | VANCOUVER, April 16, 2018 /CNW/ - CallinexMines Inc. (the"Company"or"Callinex") (TSX-V:CNX; OTCQX:CLLXF) is pleased to announcethatan updated independent NationalInstrument 43-101 ("NI 43-101") mineralresourceestimate has outlined a major increasein contained zinc, lead and silver mineralizationwithin Indicated and Inferred categoriesat the Company's 100%owned NashCreek Project located within the Bathurst MiningDistrict ofNewBrunswick (See Figures 1 and 2). The Company's initialexploration programin 2017 has materially expanded the near-surface depositand led to an increase in Indicated zincequivalent ("ZnEq.) pounds by 74%, to 963 million pounds, and Inferred zincequivalent pounds have increased by 385%, to 407 million pounds (See Tables 1 and 2), based onCIMTermsand Definitions. Callinex expects to publish a maiden PreliminaryEconomic Assessment nextmonth that will demonstratethe potentialeconomic viability ofaconceptual open pitmineat the NashCreek and Superjack projects. Thecurrentmineralresource nowhostsan Indicated mineralresourcetotaling 13.6 Mtaveraging 3.2%ZnEq. (2.7%Zn, 0.6%Pb and 17.8 g/t Ag)containing 963 million pounds ofzincequivalentmineralization and an Inferred mineralresourcetotaling 5.9 Mtaveraging 3.1%ZnEq. (2.7% Zn, 0.5%Pb and 14.0 g/t Ag)containing 407 million pounds ofzincequivalentmineralization. Max Porterfield, Presidentand CEO, stated, "Theseresultsconfirmour beliefthat the NashCreek Project representsacompelling exploration and development opportunity given extensive near surfacezinc mineralization coupled with theexcellent nearby infrastructure. Furthermore, the initialsuccess fromour 2017 drilling campaign demonstrates the potentialto rapidly expand the NashCreek zinc deposit, which remains open in multiple directions." | |
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