Callinex Receives Work Permits for Phase Two Drilling
Vancouver, British Columbia (FSCwire) - Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased announce it has received work permits for the upcoming Phase Two drilling campaign at its Pine Bay and Flin Flon projects, located near Flin Flon, Manitoba. The Company plans to drill seven holes totaling a minimum of 2,500 meters with the objective to discover new VMS mineralization rich in copper, zinc, gold and silver. It is anticipated that the drilling campaign will commence this July and be completed before the end of August.
The work permits are valid until March 31, 2016 and allow for up to twelve drilling locations over seven target areas. The permits also allow for additional geophysical grids to be completed in select areas. The Company may seek to amend these permits to include additional drill locations or geophysical grids based on exploration results.
Additionally, relating to the Company’s recently completed 5 hole 1,425 meter Phase One drilling campaign at the Pine Bay Project, the previously proposed shares for drilling services has been completed and accepted by the TSX Venture Exchange. A total of 603,788 common shares at a deemed price of $0.308 per share have been issued to Cyr Drilling International Ltd. The shares are subject to a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.
About Callinex Mines Inc.
Callinex Mines Inc., a Canadian mineral exploration company, is focused on discovering the next VMS mine within Manitoba’s prolific Flin Flon mining district. The Company’s flagship projects are the Flin Flon and Pine Bay projects which host significant historic VMS deposits and are within close proximity to a processing facility. The Flin Flon district has yielded more than 145 million tonnes of production from 32 mines.
For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
E-mail: info@callinex.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/callinex06162015.pdf
Source: Callinex Mines Inc. (TSX Venture:CNX) http://www.callinex.ca/
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