Callinex Discovers 28.6m of 57 g/t Ag Including 16.5m of 94 g/t Ag Near Surface at the Nash Creek Project in Bathurst Mining District, New Brunswick
Callinex Discovers 28.6m of 57 g/t Ag Including 16.5m of 94 g/t Ag Near
Surface at the Nash Creek Project in Bathurst Mining District, New
Brunswick
Highlights:
Drill hole NC20-313 intersected
28.6m
of 57 g/t Ag at a vertical depth of
120m
including two
6m
intervals of 140 g/t Ag and 88.5 g/t Ag;
NC20-313 is located 2.8 km along strike south of Nash Creek Deposit and only the second drill hole to test an 11 km unexplored trend south of
the deposit; and
The hole is located 6.8 kms along strike to the north of drill hole NC19-306 which intersected
19m
of 36.53 g/t Ag, 0.52% Pb and 0.38% Zn at a
starting depth of
34.0m
.
VANCOUVER, BC
,
June 15, 2020
/CNW/ -
Callinex Mines Inc.
(the "Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) is pleased to announce results from the
remaining 12 holes completed during the 2019-2020 drilling campaign (the "Campaign") at its 100% owned
Nash Creek
and Superjack projects located within the
Bathurst Mining District of
New Brunswick
(See
Figure 1
and
Figure 2
).
The Campaign encompassed
4,080m
of drilling to test 18 regional targets at the Nash Creek Project (the "Project") and two targets at the Superjack Project. The
results are highlighted by drill hole NC20-313 which intersected
28.6m
of 57 g/t Ag at a starting depth of
163.0m
(vertical depth of
120m
) including
16.5m
of 94 g/t
Ag (
See Figure 3
and Table 1).
Max Porterfield
, President and CEO, stated, "
Nash Creek
is quickly emerging as a potential district scale silver discovery as shown through results announced
from our recently completed regional exploration campaign." Mr. Porterfield continued, "The only two drill holes to test the 11km trend, which are located 6.8km
apart, each intersected near surface silver mineralization that has the potential to be amenable to open pit mining. We are excited by these results and are eager
to expand upon these discoveries as soon as possible."
Drill hole NC20-313 is only the second hole to intersect the 11km trend to the south of the
Nash Creek
deposit. The drill hole was designed to test a Induced
Polarization (IP) low resistivity anomaly which is interpreted to be on the same trend as the
Nash Creek
deposit located 2.8 kms to the North (
See Figure 4
).
There is a strong correlation between the low resistivity anomaly and the 18km long Black Point Arleau Brook Fault (the "fault"), which appears to control the
recently discovered silver mineralization.
NC20-313 is located 6.8 kms along strike to the north of drill hole NC19-306 which intersected
19m
of 36.53 g/t Ag, 0.52% Pb and 0.38% Zn at a starting depth
of
34.0m
including
3m
of 130 g/t Ag, 0.98% Pb and 0.16% Zn (
See News Release dated
June 4, 2020
). The only other holes ever drilled in the area, NC19-308
and NC20-314, were both drilled vertically and did not properly test the main controlling fault. The geology in NC19-308 was dominated by unaltered mafic flows
and drilled too far west of the fault. NC20-314, upon further review, revealed felsic textures and alteration similar to NC20-313 and NC19-306 and is currently
being sampled for assays.
The silver mineralization intersected is hosted in brecciated, geochemically altered rhyolites with pyrite and galena +/- calcite infilling between the brecciated
fragments. The geochemical signature of the rhyolites collected in hole NC20-313 suggests these rocks are of the same age, geochemical affinity and origin as
those which hosts the
Nash Creek
deposit 2.8 kms to the north as well as the silver, zinc and lead discovered in drill hole NC19-306, 6.8 kms to the south.
The Nash Creek Deposit consists of three shallow, near-horizontal sulphide-rich lenses, which have been defined over 2.1 kms of strike and hosted in an altered
felsic-mafic volcanic sequence. All but 59 of the 354 holes drilled to delineate the Hickey and Hayes zones that make up the known
Nash Creek
deposit were
drilled vertically. The high silver values intersected in NC20-313 and NC19-306 are unprecedented to date at the Nash Creek Project. Notably, of the 11,228
samples taken on the property, only 6 samples returned silver values greater than 150 g/t. The Company believes that this creates an exceptional opportunity to
strengthen the silver component of the existing resource within and near the
Nash Creek
deposit.
One additional drill hole, NC20-321, was collared to test the Central Zone and intersected a
7.0m
lead rich zone which returned 1.3% Pb, 1.7 g/t Ag and 0.04%
Zn (See Table 1).
The Campaign also included two holes drilled on its 100% owned Superjack Project which hosts three massive sulphide bodies that define an Inferred resource of
3.21MT of 29.4 g/t Ag, 3.01% Zn, 0.27% Cu and 0.78% Pb (
See Figure 5
). Drilling was proposed to follow-up on the newly discovered "D" Zone where Callinex
had previously intersected massive sulphides over 1.9 and 2.7 metre widths
(See News Release dated
November 16, 2017
).
The first hole, SJ20-94, was drilled
to test an electromagnetic geophysical target west of the "B" Zone with anomalous lead values in soil samples. The drill hole intersected favorable geology
however no appreciable base metals were encountered. The final hole of the exploration campaign, SJ20-95, tested the "D" Zone
50m
southeast of previous
drilling and intersected an
11.0m
mineralized zone at
71m
that was dominated mostly with barren sulphides, with a
1.0m
sample that returned 21 g/t Ag, 1.3% Zn
and 0.6% Pb (See Table 1).
J.J. 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.
Figure 1: Bathurst Regional Overview
Figure 2: Nash Creek Project 2019-2020 Drilling with Regional Geology
Figure 3: Northern Section of Nash Creek Project 2019-2020 Drilling with IP Resistivity Slice at
150m
Below Surface
Figure 4: Nash Creek Project 2019-2020 Drilling with IP Resistivity Slice at
150m
Below Surface
Figure 5: Superjack Project 2020 Drilling Collar Locations
Table 1: Nash Creek Drill Results
Nash Creek Drill Results
Drill Hole
From
(m)
To
(m)
Interval
(m)
Ag
(g/t)
Zn
(%)
Pb
(%)
NC20-313
163.0
191.6
28.6
57.0
0.2
0.1
includes
167.0
183.5
16.5
94.4
0.2
0.1
includes
167.0
173.0
6.0
140.0
0.2
0.1
includes
168.0
172.0
4.0
176.3
0.2
0.1
includes
177.5
183.5
6.0
88.5
0.2
0.1
NC20-321
109.0
116.0
7.0
1.7
0.04
1.3
SJ20-95
81.0
82.0
1.0
21.0
1.3
0.6
Note: (1) True widths will require further drilling to determine.
The Callinex team will further evaluate all drilling results returned from its 2019/2020 drill program for recommendations of future follow up work.
QA / QC Protocols
Individual samples were labeled, placed in plastic sample bags, and sealed. Groups of samples were then placed in security sealed bags and shipped directly to
SGS Canada Inc in
Garson, Ontario
for prepping and then on to SGS's lab in
Vancouver, BC
for analysis. Samples were weighed then crushed to 75% passing
2mm and pulverized to 85% passing 75 microns in order to produce a 250g split. 35 elements including lead, zinc and silver assays were determined by Aqua
Regia digestion with a combination of ICP-MS and ICP-AES finish, with overlimits (>100 ppm Ag, >10,000 ppm Zn, and >10,000 ppm Pb) completed by fire
assay with gravimetric finish (Ag) or Aqua Regia digestion with ICP-AES finish (lead and zinc). If gold was analyzed a Fire Assay of a 30 gram charge by AAS, or
if over 10.0 g/t were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks,
and duplicates.
About Callinex Mines Inc.
Callinex Mines Inc. (TSXV: CNX) (OTC: 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
. A 2018 PEA outlined a mine plan that
generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of
$230 million
(
$128 million
post-tax). The projects have
significant exploration upside over a district-scale land package that encompasses several high-grade mineral occurrences along a 20km trend.
Click here
to
view a video overview of the Nash Creek Project.
Callinex has a project portfolio that also includes projects within the Flin Flon Mining District of
Manitoba
that are located 25km to an operating processing
facility that requires additional ore.
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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For further information:
Callinex Mines Inc.: Max Porterfield, President and Chief Executive Officer, Phone: (604) 605-0885, E-mail: [email protected]
CO: Callinex Mines Inc.
CNW 08:30e 15-JUN-20