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Callinex Mines Inc. (TSXV: CNX) (OTCQX: CLLXF) is advancing its base and precious metals rich deposits in established Canadian mining jurisdictions. The flagship Pine Bay Project showcases rapid expansion at Rainbow and Pine Bay, alongside the Descendent discovery, with ongoing exploration for large VMS deposits.
The recent Pine Bay mineral resource estimate includes the Rainbow deposit with indicated resources of 3.44 Mt at 3.59% CuEq and inferred resources of 1.28 Mt at 2.95% CuEq, and the Pine Bay deposit with inferred resources of 1.0 Mt at 2.62% Cu.
Callinex Mines Inc. (TSXV: CNX, OTCQX: CLLXF) has launched its 2023 drilling campaign at the Pine Bay Project, located near Flin Flon, Manitoba. The fully funded phase one aims to drill up to 10,000 meters, focusing on the Rainbow Deposit and other targets. Two rigs are deployed, with one testing depth extensions of the Rainbow zone and the second exploring a conductive anomaly. Initial drilling is expected to take 3.5 months, followed by a further phase based on results. Additionally, the company granted 280,000 stock options at a price of $3.15 per share. J.J. O'Donnell, Exploration Manager, oversees the technical aspects of this release.
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