Callinex Issues Annual Letter to Shareholders
Callinex Mines Inc. (OTCQX: CLLXF) has issued its year-end letter to shareholders, expressing gratitude for their support and outlining the company’s achievements and future plans. In 2022, the company focused on the Rainbow Deposit, completing over 42,000 meters of drilling, which sets the stage for a maiden resource estimate. The company discovered the Alchemist Deposit and plans to explore additional targets at the Pine Bay Project. Callinex anticipates significant growth in 2023, driven by rising global demand for base metals amid a tight market and geopolitical changes.
- Completed 42,000 meters of drilling at the Rainbow Deposit, facilitating a maiden resource estimate.
- Discovery of the Alchemist Deposit, showcasing potential for significant resource growth.
- Strong market demand for base metals supports growth prospects in 2023.
- None.
Dear Shareholders,
We are pleased to enter 2023 on the heels of another year of exciting results and key milestones to come. None of this would be possible without the continued support of our dedicated shareholders, stakeholders and employees that have funded, contributed and collaborated to meet our rapidly expanding objectives. I'd like to personally thank each and every one of you.
Over the last year Callinex has remained focused on delineating the high-grade copper, gold, silver and zinc Rainbow Deposit and testing regional targets developed by our team at our
At Rainbow, the Company has completed over 42,000 meters of drilling into the deposit area since its discovery in
Callinex's exploration focus along the growth fault corridor that hosts Rainbow and five other deposits to the east has paid off with a new discovery in 2022. The Alchemist was discovered at the base of the growth fault corridor and exhibits the same robust base and precious metals grades that the Flin Flon Greenstone Belt is famous for. The Alchemist comes with the potential for significant resource growth and we intend to conduct step-out drilling to unlock this potential. To date, each deposit discovered along the growth fault corridor at Pine Bay has grown to be significantly larger than the one that precedes it.
Exploration opportunities beyond Rainbow and Alchemist look bright and bring the potential to stack a pipeline of discoveries at Pine Bay. Within the main growth fault corridor, follow-up is planned at target area Odin which is located between Alchemist and Rainbow as well as the Cabin deposit area to the east. Additionally, near surface target areas have been identified along the Alchemist and Rainbow horizons within a separate growth fault corridor that we are excited to share more details on soon.
This year presents an opportunity for significant growth as we continue to advance the high-grade Rainbow, Alchemist and pipeline of exciting exploration targets. Surging global demand for base metals driven by government policy in a tight market coupled with a rapidly changing geopolitical landscape provides Callinex a strong backdrop as we continue to achieve our milestones in 2023 and beyond.
Sincerely,
"Max Porterfield"
President & CEO
J.J. O'Donnell,
Neither the
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 the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.
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