Callinex Intersects 3.3m of 3.2% Copper at the Pine Bay East Discovery
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/07/16 -- Highlights:
(the "Company" or "Callinex") (TSX VENTURE: CNX)(OTCQX: CLLXF) is pleased to announce that assay results have confirmed a high-grade copper and zinc rich VMS discovery ("Pine Bay East") at the Pine Bay Project located near HudBay's 777 Mine and processing facilities in Flin Flon, Manitoba. The discovery hole, PBM-008, intersected 3.3m of 3.2% copper and 5.9m of 2.2% zinc and is located 450m east of the historic Pine Bay deposit and mine shaft (See Figure 1). The Pine Bay East discovery is open along strike in both directions and at depth, where no previous drilling has been completed (See Figure 2). Callinex plans to conduct additional drilling to intersect mineralization over an approximate 200m strike length during the current winter drilling campaign.
President and CEO Max Porterfield stated, "We are excited to announce a new discovery within one of the largest past-producing Volcanogenic Massive Sulphide ('VMS') camps in the world. With the additional planned drilling we have the potential to identify high grade copper and zinc mineralization along a strike length that is consistent with historic mines in the camp." Mr Porterfield continued, "We are looking forward to additional drilling at our Pine Bay East discovery along with assay results from a recently completed hole to follow-up on the Sourdough discovery from our summer campaign."
The new Pine Bay East zone is highly prospective given it is located at the margins of the Baker Patton Felsic Complex, one of the largest and most highly altered package of felsic volcanic rocks within the Flin Flon Greenstone Belt. Nearly all deposits in the Flin Flon Greenstone Belt are hosted within felsic volcanic rocks, the largest accumulations of which are often directly associated with major alteration systems such as those found near the 'giant' Flin Flon and Chisel Basin VMS deposits.
For additional information on the new Pine Bay East zone please contact the Company's Investor Relations department at 604-605-0885 or view the news release dated February 10, 2015 titled "".
The Company anticipates releasing additional assay results from the 2016 winter drilling campaign over the coming weeks. To date, nine of ten planned holes have been completed with assays pending for eight holes.
PBM-008 Assay Results
QA/QC
Individual samples were labeled, placed in plastic sample bags, and sealed. Groups of samples were then placed in security sealed bags and shipped directly to SGS Canada Inc in Vancouver, B.C. for analysis. Samples were crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order produce a 250g split. All copper, zinc and silver assays were determined by Aqua Regia digestion with a combination of ICP-MS and ICP-AES finish, with overlimits (greater than 100 ppm Ag, greater than 10,000 ppm Zn, and greater than 10,000 ppm Cu) completed by fire assay with gravimetric finish (Ag) or Aqua Regia digestion with ICP-AES finish (copper and zinc). All samples were analyzed for gold by Fire Assay of a 30 gram charge by AAS, or if over 10.0 g/t were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream at a frequency of 1 per 10 samples, and the collection of duplicate samples at random intervals within each batch at a frequency of 1 per 10 samples.
SGS Canada Inc carried out some or all of following methods to obtain the assay results for Callinex: G_LOG02 Pre-preparation processing, G_WGH79 Weighing and reporting, G_PRP89 Weigh, dry, crush, split, pulverize, G_SCRQC QC for crush and pulverize stages, G_CRU22 Crush greater than 3kg, G_DRY11 Dry samples, GE_FAA313 (at)Au, FAS, AAS, 30g-5ml (Final mode), GE-IC14A Aqua Regia digestion/ICP-AES finish, GE_IMS14B Aqua Regia digestion/ICP-MS package, GE_IMS14 Aqua Regia digestion, GO_FAG303 30g, Fire assay, gravimetric finish (Au)(Final Mode), GO_FAG313 30g, Fire assay, gravimetric finish (Ag)(Final Mode) and G0_ICP13B Ore Grade, Aqua Regia digest/ICP-AES. Ag greater than 10ppm was analyzed by ICP.
The technical content of this news release has been reviewed and approved by James Pickell, P.Geo, a Consultant to the Company, and a Qualified Person as defined by National Instrument 43-101.
Figure 1: Location of Pine Bay East Discovery:
Figure 2: Long Section of Pine Bay East Discovery:
About The Pine Bay Project
The Pine Bay Project is located 16km east of HudBay's 777 Mine and processing facilities near Flin Flon, MB. The project area spans 6,000 sq. ha. and covers a significant portion of the Baker Patton Felsic Complex, one of the largest and most highly altered packages of felsic volcanic rocks within the Flin Flon Greenstone Belt. Historic exploration activities have outlined four mineral deposits, three of which are located within a mineral lease that has advanced permitting status and includes the right to conduct mining activities. The Pine Bay deposit, the largest of the four historic deposits, has a 212m vertical shaft with significant underground workings from previous exploration activities.
The project has two distinct areas with VMS mineralization, the northern Pine Bay area and the southern Sourdough area. These areas are each related to historic deposits and occur along an approximate 10km NE-SW VMS trend near the top of the Baker Patton Felsic Complex. The Sourdough area is immediately adjacent to HudBay's past-producing Centennial Mine. Callinex has recently intersected new VMS zones in both the Pine Bay and Sourdough areas.
During the 1990s, majors including Placer Dome Inc. and Inmet Mining Corporation conducted limited exploration programs in the Pine Bay area to define a large VMS deposit at depth. A review of historic work has confirmed that several proposed drill holes and targets outlined by Placer Dome were never completed. The property position was recently consolidated for the first time combining several large claim blocks previously operated by companies including Placer Dome, Inmet, Newmont, HudBay and Cameco.
Prior to Callinex's modern geophysical and geological exploration programs, very limited work was conducted between 1996 and 2014. Callinex has digitally compiled more than 1,000 mostly shallow drill holes and has completed large airborne and ground geophysical surveys to identify and evaluate the most prospective drill targets.
About Callinex Mines Inc.
Callinex Mines Inc., a Canadian mineral exploration company, is focused on discovering the next copper-zinc rich VMS mine within Manitoba's prolific Flin Flon mining district. The Company's flagship project is the Pine Bay Project which hosts significant historic VMS deposits that are within close proximity to a processing facility. The Flin Flon district has yielded more than 145 million tonnes of production from 32 mines.
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.
Contacts:
Callinex Mines Inc.
Max Porterfield
President and Chief Executive Officer
(604) 605-0885
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Datum: 07.03.2016 - 12:30 Uhr
Sprache: Deutsch
News-ID 455540
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Mining & Metals
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