Significant Step-out Success In Flin Flon Mining District
Callinex Mines Inc. (the (TSXV: CNX) (OTC: CLLXF) has obtained additional positive drill results from the ongoing 30,000m drilling campaign to expand the high-grade copper, gold, silver and zinc Rainbow Deposit in Manitoba, Canada.
The Rainbow is located at the 100% owned Pine Bay Project within a mineral lease, less than 250m from a high-voltage hydroelectric power-line and 550m from a historic shaft with direct road access to processing facilities in Flin Flon.
Hole PBM-129-W1 intersected the Orange Zone and returned 4.87m of 15.20% copper equivalent (CuEq) consisting of 14.94% copper (Cu), 0.23 g/t gold (Au), 5.61 g/t silver (Ag), 0.15% zinc (Zn) including a higher grade interval of 2.76m that returned 21.36% CuEq comprised of 21.00% Cu, 0.32 g/t Au, 7.83 g/t Ag and 0.20% Zn.
The Orange Zone was preceded by an intersection in the Yellow Zone which returned 3.00m of 2.26% Cu. PBM-129-W1 is located 90m along strike to the south of PBM-113 and 40m vertically above PBM-129.
“We are thrilled with these exceptionally high-grade copper intersections. As we continue to expand the footprint of the Rainbow, we have gained a stronger understanding of the potential size and continuity of the deposit,” President and CEO, Max Porterfield, said.
“Two drill rigs will continue to operate through the summer months as we focus on the vertical and lateral expansion of the Rainbow.
“To put our exploration results in context, the global average copper grades for copper mines is just over 0.50% and to be in the top 10 highest grade copper mines in the world a deposit needs to average 4% copper or more.
“The mineralisation intersected in the Rainbow to date are indicative of the high-grade deposits that the Flin Flon District is famous for hosting.”
PBM-129 intersected the Orange Zone with 8.62% CuEq over 5.50m (8.45% Cu, 0.13 g/t Au, 2.67 g/t Ag and 0.16% Zn) including 2.50m of 15.88% Cu, 0.21 g/t Au, 4.51 g/t Ag and 0.15% Zn.
The Yellow Zone returned 3.35m of 3.78% CuEq (3.02% Cu, 0.44 g/t Au, 8.79 g/t Ag and 1.01% Zn). Drill hole PBM-129 is a 105m step-out to the south PBM-113 and 55m vertically above and to the north of PBM-111.
PBM-113 intersected the Orange Zone with 5.00m of 8.35% CuEq (8.08% Cu, 0.20 g/t Au, 10.55 g/t Ag and 0.13% Zn) including 3.00m of 12.13% Cu, 0.27 g/t Au, 15.62 g/t Ag and 0.18% Zn; and 4.00m of 2.31% CuEq (2.21% Cu, 0.09 g/t Au, 2.28 g/t Ag and 0.04% Zn) preceded by the Yellow Zone with 9.06m of 3.72% CuEq (2.37% Cu, 0.70 g/t Au, 7.00 g/t Ag and 2.10% Zn).
Drill hole PBM-128 intersected the Orange Zone with 5.20m of 3.88% CuEq consisting of 2.71% Cu, 0.63 g/t Au, 12.41 g/t Ag and 1.63% Zn. The hole is located 400m below surface and a 62m step-out to the south of PBM-121, the most recent high-grade intersection announced at the Rainbow.
PBM-122 intersected 7.50m of 1.80% CuEq consisting of 0.27% Cu, 0.36 g/t Au, 8.76 g/t Ag and 3.15% Zn including 2.50m of 3.79% CuEq.
PBM-122 is a 100m step-out above PBM-121, the most recent high-grade intersection announced at the Rainbow Deposit and defines the Rainbow deposit 300m below surface.
There are currently two rigs operating to expand the Rainbow closer to surface and at depth. Since the Company resumed drilling in mid-February, 16 holes (including one wedge) have been announced for a total of 10,005, out of a fully funded 30,000m budgeted drill programme.
