Callinex Provides Interim Exploration Update
Vancouver, British Columbia (FSCwire) - Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased to provide an interim exploration update on its Pine Bay and Flin Flon projects, located near Flin Flon, Manitoba. The Company is currently finalizing drill targets for the upcoming Phase Two campaign, which is scheduled to commence in July and anticipated to complete seven holes totaling a minimum of 2,500 meters.
At present, four holes are planned in the Sourdough area of the Pine Bay Project and one hole in the We Lake area of the Flin Flon Project. The Company has identified four additional drill targets with potential for summer drilling and awaiting results from ongoing geophysical work before finalizing the program.
One of the highest priority target areas is near the Sourdough Deposit, which has not been drilled based on modern geophysics. The majority of the 31 historic holes were completed before 1950 and the deposit area has not been drilled since 1980. Recent ground geophysical surveys have identified multiple targets located beneath the deposit and along strike in both directions. The geophysical conductors are present along a strike length of 300 meters and extend at least 200 meters beneath the currently known deposit. Furthermore, the geophysical response from these targets exceed that of the known deposit and combined with a magnetic signature suggests strong potential for massive sulphide mineralization.
A total of 36 target areas have been identified at the Pine Bay and Flin Flon projects. These areas have been identified and ranked based on the recently compiled drilling database, prospective geological areas and new geophysical data. In total, more than 1,000 holes have been digitized and incorporated into the Company’s database since calendar Q4 2014. The ongoing geophysical program has included re-interpretation of modern airborne geophysics, completion of approximately 100 line km of ground geophysics and four borehole geophysical surveys.
Additionally, the Company has submitted an application to receive up to $200,000 in funding through the Mineral Economic Assistance Program (“MEAP”) that would relate to the Phase Two drilling program. The Company plans to provide further updates on drill targets, permits and the MEAP application in the near future.
The technical content of this news release has been reviewed and approved by Christina Taylor, P.Geo, the Company’s Project Geologist, and a Qualified Person as defined by National Instrument 43-101.
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/CallinexJune82015.pdf
Source: Callinex Mines Inc. (TSX Venture:CNX) http://www.callinex.ca/
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