Callinex Intersects Near-Surface Mineralization Over 10.6m Grading 1.4% Cu and Plans to Raise Additional Capital
VANCOUVER, BRITISH COLUMBIA -- 04/25/16 -- Highlights:
-- Newly interpreted Lower VMS Horizon is largely untested to the south and
at depth;
-- The first four holes drilled into this prospective new VMS horizon
during the winter program intersected significant copper mineralization
accompanied by intense black chlorite alteration; and
-- Private placement announced to raise up to $1,000,000 to facilitate
continued exploration activities.
Callinex Mines Inc. (the "Company" or "Callinex") (TSX VENTURE:CNX)(OTCQX:CLLXF) is pleased to announce results from an additional five drill holes completed during the winter drilling campaign at its 100%-owned Pine Bay Project located near Flin Flon, Manitoba. Four of the five drill holes intercepted significant copper mineralization, notably PBM-009 which intersected 10.6m of 1.4% Cu at 50.8m down hole, including a higher grade interval of 3.6m of 2.0% Cu. Drill hole PBM-009 has appreciably expanded the known mineralization related to the historic Baker Patton VMS deposit.
- Published: 25 April 2016
- Written by Editor