Announcement Date: 2022-09-07
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Callinex Mines Inc.
Project name: Pine Bay
Location: Canada
Commodities: Gold,Silver,Copper,Zinc
Highlight: Drilling results incl. 4.4m @ 1.6% Cu, 0.4g/t Au, 21.78g/t Ag, 5.14% Zn from 847.6m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: VANCOUVER, BC, Sept. 7, 2022 /CNW/ – Callinex Mines Inc. (the “Company” or “Callinex”) (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce it has discovered the Alchemist deposit (“Alchemist”), a new high-grade copper, zinc, gold and silver bearing Volcanogenic Massive Sulphide (“VMS”) deposit at the Company’s 100% owned Pine Bay Project, located 16km away from Flin Flon, MB. The Alchemist sits at the base of the interpreted growth fault corridor that hosts six other deposits including the emerging high-grade copper, gold, silver and zinc Rainbow deposit which is located 1,420 meters to the east (Pine Bay Plan View with Alchemist Deposit). Drill hole ALC-114, the last hole drilled into the Alchemist to date, intersected 4.40m of 4.02% CuEq including 1.60% copper (“Cu”), 5.14% zinc (“Zn”), 0.40 g/t gold (“Au”) and 21.78 g/t silver (“Ag”) (Alchemist Deposit Long Section). Discovery hole ALC-111 intersected 1.78% CuEq (0.90% Cu, 1.76% Zn, 0.22 g/t Au and 7.05 g/t Ag) while testing Anomaly B, a large highly-conductive bore-hole pulse electromagnetic (“BPEM”) anomaly ( See News Release Dated March 10, 2022). Anomaly B, a 600m by 400m highly conductive anomaly sits within the center of the mapped millrock at Millrock Mountain (formally referred to as Pine Root millrock), was identified from a BPEM survey of drill hole PBM-162. Further drilling is needed to understand the extent of the Alchemist, however, initial data indicates a steeply dipping/plunging system similarly defined at the Rainbow deposit.
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