Callinex Commences Phase One Drilling Campaign at Pine Bay Project
Vancouver, British Columbia (FSCwire) - Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce it has commenced phase one of the Company’s two-phase 4,000m drilling campaign at its 100% owned Pine Bay Project located near Flin Flon, Manitoba and adjacent to HudBay’s 777 Mine. The first phase consists of approximately 8-10 holes totaling 2,000m with completion anticipated towards the end of March. The objectives of the two-phase drilling campaign at the Pine Bay and Flin Flon projects are to confirm, expand and discover high-grade copper and zinc rich massive sulfide mineralization.
The Company has outlined several new targets within the vicinity of the Pine Bay deposit. In particular, recent ground geophysical work has identified a new magnetic and electromagnetic conductor between the Pine Bay and Cabin deposits. Compilation work highlighted hole 112, drilled approximately 50m from the target, which intersected three mineralized zones including 1.52m of 9.4% zinc, 1.4 g/t gold and 0.26% copper(1).
The Pine Bay Project is located 16km east of HudBay’s 777 Mine and hosts four high-grade VMS deposits. The project is at an advanced permitting stage and includes a 212m vertical shaft with 760m of underground workings nearby historic resources. Previous operators reported historic resource estimates totaling 1.62 million tons at a grade of 2.81% copper equivalent(2). Callinex has not done sufficient work to classify the historical estimate as a current mineral resource and is not treating the historical estimate as a current mineral resource.
The Pine Bay deposit is open at depth beneath 400m and a significant electromagnetic conductor suggests potential for additional mineralization. New data suggests that the Pine Bay deposit plunges to the northeast rather than a continuation of a near vertical plunge, trending towards hole 112 and the Cabin deposit. Historic drilling was based on the previous assumption of a near vertical plunge; as a result the extension of the newly projected plunge is untested.
Click here to view a technical presentation and learn more about the Company’s drill plans at its Pine Bay and Flin Flon projects.
In support of the drilling campaign, the Company compiled and digitized historic data from 422 drill holes totaling 66,658m with an average down-hole length of 158m. Additionally, there have been major technological advances in geophysics since Placer Dome completed the last significant program in 1991. Callinex has recently completed a modern geophysical program to comprehensively identify and evaluate prospective targets.
Figure 1: Pine Bay Project
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About The Pine Bay Project
The Pine Bay Project is located 16km east of Flin Flon, MB, and covers approximately 6,000ha. The project includes a mineral lease that allows for the right to operate a mine and covers a 212m vertical shaft with 760m of underground development accessing high-grade copper mineralization. Significantly, a favorable geological trend with coincident geophysical anomalies extends for at least 8 km in a northeast-southwest direction and hosts HudBay’s Centennial Mine along with Callinex’s Sourdough and Pine Bay deposits. Previous operators reported historic resources totaling 1.62 million tons at a grade of 2.81% Cu Eq.(2). Callinex has not done sufficient work to classify the historical estimate as a current mineral resource, and is not treating the historical estimate as a current mineral resource.
The project area was recently consolidated with individual claim blocks previously owned or operated by Placer Dome, Newmont, HudBay and Cameco. In the 1990’s, the northern section of the property was primarily explored by Placer Dome, who conceptualized potential for a large VMS deposit at depth near the Pine Bay, Cabin and Baker Patton deposits. The Baker Patton deposit, which may represent a feeder zone, is located within a large and intensely altered zone up to 1,500m long and up to 740m wide. This alteration zone overlies a 540m x 360m stringer zone, a large gravity anomaly and both electromagnetic (EM) and magnetic anomalies.
It is believed the alteration zone is part of a more extensive system that has been displaced by faulting. Drilling by a previous operator identified at depth a 210m wide alteration zone that includes 50m of chloritic alteration which has not been followed up on. Nearly all VMS deposits in the Flin Flon Greenstone Belt are immediately related to a chloritic alteration zone and the extent of which typically has a correlation to the deposit size.
| Pine Bay Historic Resources(2) | ||||||
| Deposit | Tons | Cu Eq%(2) | Cu % | Zn % | Au g/t | Ag g/t |
| Pine Bay | 1,113,200 | 2.76 | 2.76 | N/A | N/A | N/A |
| Sourdough | 291,150 | 2.98 | 1.46 | 1.71 | 1.03 | 29.8 |
| Cabin | 125,000 | 2.18 | 0.84 | 4.02 | N/A | N/A |
| Baker Patton | 95,000 | 3.66 | 0.80 | 5.28 | 0.83 | 56.0 |
| Total | 1,624,350 | 2.81 | 2.26 | 0.92 | 0.24 | 8.9 |
