Callinex Completes Drone Magnetic Survey at Nash Creek
Callinex Completes Drone Magnetic Survey at Nash Creek
VANCOUVER
,
March 28, 2018
/CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to
announce that it has completed a 450 line-kilometer drone magnetic survey ("Drone Magnetic Survey") to provide high-resolution data over the
current mineral resources at the Company's 100% owned Nash Creek Project within the Bathurst Mining District of
New Brunswick
. The Nash
Creek Deposit is related to structurally controlled near vertical faults that channeled fluids before dispersing laterally as flat-lying stratabound zinc-
lead-silver mineralization. The Drone Magnetic Survey was completed to help identify and delineate these near vertical faults. If proven successful,
systematic completion of additional drone magnetic surveys will be essential to the discovery of new deposits within the 20 km long land package
in an upcoming 2018 drill program.
The Nash Creek Project covers several high-grade zinc occurrences over a 20 km long trend within the same geologic setting that hosts the Nash
Creek Deposit. This highly prospective land package has had very little exploration work completed and represents an exciting opportunity for
Callinex to discover additional zinc-rich deposits in 2018 and beyond. The implementation of modern geophysical techniques including drone
magnetic, LIDAR and induced polarization surveys along with conventional prospecting and soil sampling methods will assist in identifying the most
prospective areas for new discoveries.
Previously, limited exploration completed by
Falconbridge
, Noranda and BHP on the southernmost 15 km of the project area has indicated
potential to host additional base metals deposits. The Big Hole Brook Prospect is one of several highly prospective areas and historic trenching has
exposed at least eight, quartz-ankerite veins that cut Devonian aged mafic volcanic rocks with assays as high as 10.9% Pb and 8.1% Zn (See
News Release dated
August 21, 2017
).
Callinex has also engaged a geological consulting firm to complete a structural interpretation of the
Nash Creek
area based on the Drone Magnetic
Survey data along with a 2016 LIDAR survey flown at
1m
contour intervals. An initial in-house review of the 2016 LIDAR data shows that
several key geological structures are identifiable.
JJ O'Donnell, P. Geo, a qualified person under National Instrument 43-101 and a Consulting Geologist for Callinex, has reviewed and approved
the technical information in this news release.
About Callinex Mines Inc.
Callinex Mines Inc. (TSX-V: CNX ; OTCQX: CLLXF) is advancing its portfolio of zinc rich deposits located in established Canadian
mining jurisdictions. The portfolio is highlighted by its
Nash Creek
and Superjack deposits in the Bathurst Mining District of
New
Brunswick
. Callinex is exploring these projects in support of an updated resource estimate and maiden PEA planned for Q2 2018.
Additionally, Callinex is also exploring its projects in the Flin Flon Mining District of
Manitoba
which notably includes its Pine Bay and
Big Island Projects. These projects are located within 25 km to an operating processing facility that requires additional ore within four
years.
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
.
SOURCE
Callinex Mines Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2018/28/c5661.html
%SEDAR: 00031889E
For further information:
Callinex Mines Inc., Max Porterfield, President and Chief Executive Officer, Phone: (604) 605-0885, E-mail:
CO: Callinex Mines Inc.
CNW 08:30e 28-MAR-18