Callinex Intersects 13.0 Meters of 5.7% Zinc Equivalent Mineralization at Nash Creek in New Brunswick
Callinex Intersects 13.0 Meters of 5.7% Zinc Equivalent
Mineralization at Nash Creek in New Brunswick
Highlights
Drill hole NC17-260 expanded the Nash Creek Deposit laterally and intersected
13.0m
of 5.7% Zn Eq. starting at a depth of
72.0m
including
5.0m
of 11.8% Zn Eq.;
High-grade mineralization intersected in hole NC17-260 is open for further expansion to the west and northwest towards the
MacMillan Zone; and
Drill hole NC17-254 intersected
9.0m
of 7.7% Zn Eq. at a starting depth of
49.0m
and confirmed continuity between the
northern expansion of the Nash Creek Deposit.
VANCOUVER
,
Jan. 29, 2018
/CNW/ -
Callinex Mines Inc.
(the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to
announce assay results from three drill holes as part of the recently completed 35 drill hole campaign at the Company's 100% owned Nash Creek
Project located within the Bathurst Mining District of
New Brunswick
(
See Figures
1, 2 and 3). All three drill holes intersected significant
mineralization with two of the holes intersecting high-grade, near-surface zinc mineralization. Drill hole NC17-260 expanded the Nash Creek
Deposit laterally and
intersected
13.0m
of 5.7% zinc equivalent mineralization ("Zn Eq.") starting at a depth of
72.0m
including
5.0m
of
11.8% Zn Eq
. (See Table 1).
Drill hole NC17-254 was completed to confirm continuity between the northern expansion of the Nash Creek Deposit and the extent of the
current mineral resource (See Figure 3).
This hole intersected
9.0m
of 7.7% Zn Eq. at a starting depth of
49.0m
and demonstrated a robust
zone of mineralization with all samples grading in excess of 4.0% Zn Eq.
High-grade mineralization intersected in hole NC17-260 is open for further expansion to the west and northwest towards the MacMillan Zone
(See Figure 3). The MacMillan Zone is interpreted to be located along a mineralized fault that also hosts the Hayes Zone located 1 km to the
south. The MacMillan Zone is one of five mineralized zones at the Nash Creek Project, two of which host the current mineral resource estimate
(See Table 2).
The most significant results from limited drilling at the MacMillan Zone were reported to include
*
:
DDH #11 -
8.5m
of 7.1% Zn Eq. (6.5% Pb, 0.9% Zn and 22.6 g/t Ag);
DDH #12 -
6.2m
of 10.5% Zn Eq. (6.5% Pb, 3.4% Zn and 46.3 g/t Ag); and
CM-2 -
8.5m
of 7.1% Zn Eq. (3.3% Zn, 3.8% Pb, 20.0 g/t Ag) and
8.8m
of 5.4 Zn Eq. (3.2% Zn, 2.0% Pb and 20.3 gt Ag).
*The drill results are historic in nature and should not be relied upon. The Company relied on previous assessment reports from
Falconbridge
and
has not carried out its own QA/QC on these results. Even though these results are not necessarily indicative of the mineralization in this zone, the
Company believes that the historical drill results identify a key target for further drilling activity. See Table 1, Note 1 for zinc equivalent calculation.
Three north-striking vertical faults appear to be a pathway for mineralization at the Nash Creek Project. The Peacock Fault appears related to the
Hayes Zone and the Chickadee Fault appears to be related to the Hickey Zone. The Peacock Fault has only had one hole drilled between the
Hayes and MacMillan Zones and is one of several high-priority targets at the property that will be drill tested in 2018.
The Project benefits from tremendous infrastructure within close proximity. The Nash Creek Deposit is located approximately 1 km from
Provincial Highway 11, high-voltage transmission lines and only 25 km by road to Glencore's Brunswick Smelter, deep water port, railway and
power plant near the town of
Belledune
(
See Figures
1 and 2). Callinex is currently working towards publishing an updated resource estimate and
maiden Preliminary Economic Assessment ("PEA").
J.J. O'Donnell, P.Geo, a qualified person under National Instrument 43-101 and VP of Exploration for Callinex, has reviewed and approved the
technical information in this news release.
Figure 1: Map of the Bathurst Mining District of
New Brunswick
Figure 2: Plan Map of the Nash Creek Deposit
Figure 3: Plan Map of the Nash Creek Deposit Expansion Holes
Figure 4: Cross Section View of Reported Drill Holes
Table 1: Nash Creek Drill Results
Nash Creek Drill Results
(1)(2)(3)
Drill Hole
From
(m)
To
(m)
Interval
(m)
Zn Eq.
(%)
Zn
(%)
Pb
(%)
Ag
(g/t)
NC17-254
49.00
58.00
9.00
7.72
5.27
1.32
57.00
NC17-259
47.50
61.50
14.00
1.52
1.19
0.13
9.57
including
47.50
50.50
3.00
2.50
1.98
0.11
18.47
and
57.50
61.50
4.00
2.77
2.22
0.32
12.02
NC17-260
28.00
31.33
3.33
2.43
1.39
0.80
15.03
and
45.00
46.00
1.00
2.81
0.47
2.29
14.70
and
70.00
85.00
15.00
5.18
3.53
0.99
34.04
including
72.00
85.00
13.00
5.74
3.94
1.09
36.78
including
80.00
85.00
5.00
11.78
8.54
1.99
65.56
Notes
(1)(2)(3)
:
1.
Zinc equivalent grades are based on the following metal prices: zinc US$2,525/t (1.15/lb), lead US$2,205/t (1.00/lb), and silver US$18.0 per oz. Metal recoveries of 100%
were applied in the met
al equivalent calculations. The zinc equivalent calculation is as follows: ZnEq = 100 ((Ag Price in (g) x Ag Grade) + (Pb Price*2204.6 x Pb Grade(%)/100) + (Zn Price*2204.6 x
(Zn Grade(%)/100))/Zn Price*2204.6).
2.
The numbers may not add due to rounding.
3.
All intervals are reported as core width drilled thicknesses; true thicknesses are estimated to be 80-100% of drilled thicknesses.
Table 2: 2016 Mineral Resource Estimates for the
Nash Creek
and Superjack Projects
Indicated Mineral Resources
Project
Tonnes
Zn Eq.
(%)
Zn
(%)
Pb
(%)
Ag
(g/t)
Cu
(%)
Contained Zn Eq.
('000 pounds)
Nash Creek
9,033,000
3.58
2.79
0.57
18.16
n/a
711,991
Total
9,033,000
3.58
2.79
0.57
18.16
n/a
711,991
Inferred Mineral Resources
Project
Tonnes
Zn Eq.
(%)
Zn
(%)
Pb
(%)
Ag
(g/t)
Cu
(%)
Contained Zn Eq.
('000 pounds)
Superjack
3,211,000
4.63
3.01
0.78
29.46
0.27
327,618
Nash Creek
1,113,000
3.58
2.83
0.57
15.51
n/a
87,883
Total
4,324,000
4.36
2.96
0.73
25.87
0.20
415,501
Notes:
1.
Resources are categorized according to CIM Definition Standards; it cannot be assumed that all or any part of Inferred Mineral Resources will be upgraded to Indicated or
Measured as a result of continued exploration.
2.
The Nash Creek mineral resource estimate includes the Hickey Zone and Hayes Zone.
3.
The Superjack mineral resource estimates includes the Nepisiguit A (the "A Zone") and Nepisiguit C Zones (the "C Zone").
4.
Zinc equivalent resources for the Nash Creek Project were calculated using metal prices of $0.90/lb for zinc, $0.87/lb for lead, and $17.73/oz for silver. Metallurgical
recoveries have been assumed to be 90.5% for zinc, 81.5% for lead and 50% for silver. A cut-off grade of 2.0% Zn Eq. was utilized in the resource estimate.
5.
Zinc equivalent resources for the Superjack Project were calculated using metal prices of $1.12/lb for zinc, $1.06/lb for lead, $2.97/lb for copper and $20.38/oz for silver.
Metal recoveries have been assumed to be 100% for zinc, 72% for lead, 86% for copper and 70% for silver. A cut-off grade of 1.5% Zn Eq. was utilized in the resource
estimate.
Table 3: NQ Diamond Drill Hole Data
Hole ID
UTM Zone 19T
NAD 83 East
UTM Zone 19T
NAD 83 North
Elevation
(m)
Azimuth
(
o
N UTM)
Dip
(
o
)
Length
(m)
NC17-254
716857
5308363
59
0
-90
113
NC17-259
716934
5308352
54
0
-90
150
NC17-260
716780
5308376
65
0
-90
147
QA/QC
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 preparation then onto
Burnaby, BC
for analysis. Samples were crushed to 75%
passing 2mm and pulverized to 85% passing 75 microns in order produce a 250g split. All copper, 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
Cu) completed by fire assay with gravimetric finish (Ag) or Aqua Regia digestion with ICP-AES finish (copper and zinc). All samples were
analyzed for gold by 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 and blanks into the sample stream at a frequency of 1 per 10
samples, and the collection of duplicate samples at random intervals within each batch at a frequency of 1 per 10 samples.
SGS Canada Inc carried out some or all of following methods to obtain the assay results for Callinex: G_LOG02 Pre-preparation processing,
G_WGH79 Weighing and reporting, G_PRP89 Weigh, dry, crush, split, pulverize, G_SCRQC QC for crush and pulverize stages, G_CRU22
Crush >3kg, G_DRY11 Dry samples, GE_FAA313 @Au, FAS, AAS, 30g-5ml (Final mode), GE-IC14A Aqua Regia digestion/ICP-AES
finish, GE_IMS14B Aqua Regia digestion/ICP-MS package, GE_IMS14 Aqua Regia digestion, GO_FAG303 30g, Fire assay, gravimetric finish
(Au)(Final Mode), GO_FAG313 30g, Fire assay, gravimetric finish (Ag)(Final Mode), G0_ICP13B Ore Grade, Aqua Regia digest/ICP-AES.
Ag >10ppm was analyzed by ICP and GO_XRF77B-pyrosulfate fusion.
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 actively drilling these projects in support of an updated resource estimate and maiden PEA planned for Q2 2018.
Additionally, Callinex is actively exploring its projects in the Flin Flon Mining District of
Manitoba
which notably include the 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/January2018/29/c8594.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 08:00e 29-JAN-18