Callinex Mines Inc. (TSXV: CNX | OTC: CLLXF) has announced the estimate for an initial high-grade copper resource for its 100% owned Pine Bay Project in Manitoba, Canada. The project comprises contiguous mineral claims and leases covering 6,795ha of the Flin Flon mining district.
Callinex president & CEO, Max Porterfield, commented, “We are thrilled to be announcing a high-grade copper maiden mineral resource estimate at the Pine Bay Project, after discovering the Rainbow deposit in late 2020, the project has grown to become one of the largest initial published resources to date in the Flin Flon district’s robust history.”
The project hosts the high-grade Rainbow deposit in addition to the Pine Bay deposit that sits in close proximity. The deposits at the Pine Bay Project are volcanogenic massive sulphide (VMS) which contain significant copper, zinc, gold, and silver that the Flin Flon Mining District is well known for.
The main discovery is the Rainbow deposit, which contains an indicated resource of 3.44Mt at 3.59% Cu Eq, containing 238.3Mlb Cu, 56.9Mlb Zn, 37,600oz Au, 692,800oz Ag, and 2.3Mlb Pb, along with an inferred resource of 1.28Mt at 2.95% Cu Eq containing 72.1Mlb Cu; 19.5Mlb Zn; 11,100oz Au; 222,200oz Ag; and 800,000lb Pb.
The Rainbow deposit remains open for expansion in addition to the nearby Pine Bay deposit, which contains an inferred mineral resource of 1.0Mt at 2.62% copper containing 58.1Mlb Cu.
“The Pine Bay Project maiden resource has extraordinary copper grades and excellent tonnage in two deposits about 900m apart,” Peter Jones, a member of Callinex’s technical team, said.
“The opportunity to further increase resource tonnage both in depth and from parallel structures is considerable.”
In a relatively short time, Callinex has carried out a number of extensive drill programmes to define a high-grade copper mineral resource at this deposit. A fully funded 20,000m drilling programme is ongoing to explore in depth and to further define parallel deposit targets at the project.
For further information, please visit: www.callinex.ca
