The Assay TV spoke to Max Porterfield, President and CEO at Callinex Mines (TSXV:CNX, OTC:CLLXF).
Callinex is advancing its portfolio base and precious metals rich VMS deposits located in established Canadian mining jurisdictions. The Company recently announced two near surface silver discoveries 6.8km apart and in close proximity to its Nash Creek deposit in the Bathurst Mining District of New Brunswick. A 2018 PEA on its Bathurst Project portfolio outlined a mine plan that generates a strong economic return with a pre-tax IRR of 34.1% and NPV8% of $230 million.
Callinex is currently drilling a highly conductive electromagnetic anomaly in a known mine horizon at its Pine Bay Project in the Flin Flon Mining District. The target area is located 200m from a historic shaft, under a power line, with road access 16km from Flin Flon and within an advanced permitting mineral lease. Hudbay’s flagship 777 mine in Flin Flon is due to shut down in 2022.
Additionally, the Company is working to update the historic resource at its Pt. Leamington gold, copper and zinc VMS deposit located in the Buchans Camp. The historic resource had a number or errors that the company has pinpointed and addressing in the new resource. The asset will be advanced through metallurgical testing and regional exploration in the future.
Primary ticker: TSXV:CNX, OTC:CLLXF
Stage of development: Exploration, Development
Primary minerals: Gold, Silver, Copper, Zinc
Project to promote: Nash Creek, Pine Bay, Point Leamington
Project location: Canada