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Callinex Mines Inc.
Summary
| Project: | Pine Bay | |
|---|---|---|
| Deposit: | Pine Bay | |
| Location: | Canada | |
| Commodities: | Zinc-Copper-Gold-Silver-Lead | |
| Date: | 10/18/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-10-2016: Callinex Mines Inc. announces an Exploration/Drilling Update report for its Pine Bay deposit at the Pine Bay project. Drilling results incl. 11.46m @ 5.61% Zn, 0.68% Cu, 1.65g/t Au, 56.38g/t Ag, 0.35% Pb from 998.80m. Vancouver, British Columb | |
| Resources: | (Resource, Historic): 1.6Mt @ 2.81% CuEq. (Historic resource only) | |
| CP/QP: | [Overall Report]: James Pickell (Not stated) | |
| ABSTRACT: | Vancouver, British Columbia – October 18, 2016 – Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce a new high-grade zinc, gold, silver and copper discovery at the Company’s Pine Bay Project, located near HudBay’s operations in Flin Flon, Manitoba (See Figures 1, 2 and 3). The discovery hole, 284-3-93-DPN, intersected 10.3m grading 13.1% zinc equivalent mineralization (“Zn Eq.”) containing 6.0% Zn, 1.8 g/t Au, 60.4 g/t Ag, 0.7% Cu and 0.4% Pb including a higher grade interval over 4.2m grading 20.8% Zn Eq. containing 11.8% Zn, 2.4 g/t Au, 73.8 g/t Ag, 0.7% Cu and 0.7% Pb. The discovery was made by extending a historic Placer Dome drill hole by 38 meters. The historic drill hole, which ended in copper-bearing sulphide mineralization, was initially drilled as part of their mandate to discover a 30 million tonne Volcanogenic Massive Sulphide (“VMS”) deposit at the Pine Bay Project. Max Porterfield, President and CEO, stated, “We are very encouraged by this new discovery which indicates potential for a large, high-grade deposit located within the existing mining lease at Pine Bay. This exploration success comes at a time when the current processing facility in Flin Flon, which has operated for more than 90 consecutive years, has less than four years of ore remaining. In terms of context, the new intersection has encountered the most significant gold and silver results from over 80 years of exploration including 625 holes drilled on the property.” | |
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