Callinex Provides Update of its Continuing 2024 Exploration Campaign at the Pine Bay Project in the Flin Flon Mining District, MB
Callinex Mines provides an update on its 2024 exploration campaign at the Pine Bay Project in Manitoba. The company completed an 802m drill hole (PBM-197) at the Poseidon target area and is currently drilling a step-out hole (DSC-113) at the Descendent discovery, targeting a depth of 1,900m. The Descendent's alteration package is notably ten times larger than the nearby Rainbow deposit's package. The Project spans 11,859 hectares with access to infrastructure including hydroelectric power and three base metal concentrators within trucking distance. Initial assay results are expected in early Q1 2025.
The company's Rainbow deposit has an indicated resource of 3.44 Mt grading 3.59% CuEq and an inferred resource of 1.28 Mt grading 2.95% CuEq.Callinex Mines fornisce un aggiornamento sulla sua campagna di esplorazione 2024 al progetto Pine Bay nel Manitoba. L'azienda ha completato un foro di perforazione di 802 m (PBM-197) nell'area del bersaglio Poseidon e attualmente sta perforando un foro di estensione (DSC-113) presso la scoperta Descendent, puntando a una profondità di 1.900 m. Il pacchetto di alterazione del Descendent è notevolmente dieci volte più grande di quello del vicino giacimento Rainbow. Il progetto si estende su 11.859 ettari con accesso a infrastrutture che includono energia idroelettrica e tre concentratori di metalli base a distanza di trasporto. I risultati preliminari delle analisi sono attesi all'inizio del primo trimestre del 2025.
Il giacimento Rainbow della società ha una risorsa indicata di 3,44 Mt con una legge del 3,59% CuEq e una risorsa inferita di 1,28 Mt con una legge del 2,95% CuEq.
Callinex Mines proporciona una actualización sobre su campaña de exploración 2024 en el proyecto Pine Bay en Manitoba. La compañía completó un agujero de perforación de 802 m (PBM-197) en el área objetivo Poseidon y actualmente está perforando un agujero de extensión (DSC-113) en el descubrimiento Descendent, con un objetivo de profundidad de 1,900 m. El paquete de alteración de Descendent es notablemente diez veces más grande que el paquete del cercano depósito Rainbow. El proyecto abarca 11,859 hectáreas con acceso a infraestructura, que incluye energía hidroeléctrica y tres concentradores de metales básicos a una distancia razonable para el transporte. Se esperan los primeros resultados de análisis a principios del primer trimestre de 2025.
El depósito Rainbow de la compañía tiene un recurso indicado de 3.44 Mt con una ley de 3.59% CuEq y un recurso inferido de 1.28 Mt con una ley de 2.95% CuEq.
Callinex Mines는 매니토바의 파인 베이 프로젝트에 대한 2024년 탐사 캠페인 업데이트를 제공합니다. 회사는 포세이돈 목표 지역에서 802m의 시추 공(PBM-197)을 완료했으며 현재 내려가는 발견인 DSC-113에서 1,900m 깊이를 목표로 하는 추가 시추를 진행하고 있습니다. 내리막 탐사의 변화 패키지는 인근 레인보우 광산의 패키지보다 눈에 띄게 10배 큽니다. 이 프로젝트는 11,859 헥타르에 걸쳐 있으며, 수력발전과 운송 거리에 있는 세 개의 비철금속 농축 시설을 포함한 인프라에 접근할 수 있습니다. 초기 분석 결과는 2025년 1분기 초에 예상됩니다.
회사의 레인보우 광산은 3.44 Mt의 자원 규모를 지닌 3.59% CuEq의 표시 자원과 2.95% CuEq의 추정 자원 1.28 Mt을 보유하고 있습니다.
Callinex Mines fournit une mise à jour sur sa campagne d'exploration 2024 au projet Pine Bay dans le Manitoba. L'entreprise a complété un trou de forage de 802 m (PBM-197) dans la zone cible Poseidon et est actuellement en train de percer un trou d'extension (DSC-113) à la découverte Descendent, visant une profondeur de 1 900 m. Le paquet d'altération du Descendent est remarquablement dix fois plus grand que celui du gisement Rainbow voisin. Le projet s'étend sur 11 859 hectares avec accès à des infrastructures comprenant de l'hydroélectricité et trois concentrateurs de métaux de base à distance de transport. Les premiers résultats des analyses sont attendus début du premier trimestre 2025.
Le gisement Rainbow de la société possède une ressource indiquée de 3,44 Mt avec une teneur de 3,59 % CuEq et une ressource inférée de 1,28 Mt avec une teneur de 2,95 % CuEq.
Callinex Mines gibt ein Update zu ihrer Erkundungskampagne 2024 im Pine Bay Projekt in Manitoba. Das Unternehmen hat ein 802m tiefes Bohrloch (PBM-197) im Zielgebiet Poseidon fertiggestellt und bohrt derzeit ein Erweiterungsloch (DSC-113) in der Entdeckung Descendent, das eine Tiefe von 1.900m anstrebt. Das Verändungs-Paket des Descendent ist bemerkenswerterweise zehnmal größer als das des nahegelegenen Rainbow-Vorkommens. Das Projekt erstreckt sich über 11.859 Hektar mit Zugang zu Infrastruktur, einschließlich Wasserkraft und drei Konzentratoren für Basismetalle in Transportentfernung. Erste Analyseergebnisse werden Anfang des ersten Quartals 2025 erwartet.
Das Rainbow-Vorkommen des Unternehmens weist eine angezeigte Ressource von 3,44 Mt mit einem Gehalt von 3,59% CuEq und eine geschätzte Ressource von 1,28 Mt mit einem Gehalt von 2,95% CuEq auf.
- Project has existing infrastructure including hydroelectric power and nearby concentrators
- Rainbow deposit contains significant indicated resource of 272.4 Mlb CuEq
- Descendent discovery shows alteration zone 10x larger than Rainbow deposit
- Assay results pending and won't be available until Q1 2025
The 2024 drilling campaign began in August by testing the Poseidon target area which was completed with an 802m hole. Drill hole PBM-197 intersected favorable geology and currently awaits assays, geochemical data and borehole pulse electromagnetic ("BPEM") survey results. Subject to analysis of geochemical and BPEM results, associated with hole PBM-197, the Poseidon target area may be prioritized over Odin and Ra target areas, which were to be tested later in the 2024 exploration campaign (See news release dated September 3, 2024).
The Poseidon target area, which is located 1,300 meters along strike to the north of the Rainbow deposit, was also covered by the recent magnetotellurics ("MT") survey over the Descendent discovery. The MT survey data outlined a very large resistivity low anomaly interpreted to be mapping the alteration package between the known Rainbow and Pine Bay horizons (Figure 2: MT Survey Descendent Line Cross Section). The area is known to host favorable geology based on limited historic drilling and interpretation of other available geophysical and geochemical datasets.
Currently, a step-out drill hole, DSC-113, is underway on the Descendent discovery (the "Descendent"). Drill hole DSC-113 is currently at ~1414m and is on target to intersect the Descendent at 1,900m. DSC-113 is expected to intersect the Descendent at a 400m step-out vertically below and to the north of the Descendent discovery, in hole DSC-111.
The base and precious metal grades intersected to date by the Descendent discovery hole are comparable to metal grades intersected at the top of the nearby Rainbow deposit, and the significant massive sulphide widths suggest the system is robust (See news release dated September 12, 2023). The base and precious metal bearing massive sulphide intersections by the Descendent discovery hole are interpreted to be associated with a major alteration zone that's previously been identified at surface and spans 1,100m by 700m. Typically, there is a correlation between the size of an alteration zone and the size of a VMS deposit associated with it. The alteration package around the Descendent is approximately ten times larger than the alteration package enveloping the nearby Rainbow deposit.
The Company will continue to provide updates on its 2024 exploration campaign as it progresses and anticipates initial assay results to be released to the market in early Q1 of 2025.
J.J. O'Donnell, P.Geo, a qualified person under National Instrument 43-101, has reviewed and approved the technical information in this news release.
About Callinex Mines Inc.
Callinex Mines Inc. (TSXV: CNX) (OTCQX: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The focus of the portfolio is highlighted by the rapidly expanding Rainbow deposit at its rich VMS Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Callinex prepared an indicated mineral resource on the Rainbow deposit of 3.44 Mt grading
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 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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SOURCE Callinex Mines Inc.
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