PR Newswire
VANCOUVER, Jan. 22, 2018
Highlights
VANCOUVER, Jan. 22, 2018 /PRNewswire/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce assay results from four drill holes as part of the recently completed 35 drill hole campaign at the Company's 100% owned Nash Creek Deposit located within the Bathurst Mining District of New Brunswick (See Figures 1, 2 and 3). Three of these four drill holes expanded the Nash Creek Deposit to the northwest of recently reported drill holes NC17-248, NC17-255, NC17-257 and NC17-269 (See News Release dated January 18, 2018). Drill Hole NC-249, the northernmost hole, intersected extensive mineralization including 53.8m of 2.8% Zn Eq. starting at a depth of 18.5m including two separate higher-grade intervals of 11.5m of 5.1% Zn Eq. and 10.7m of 4.0% Zn Eq. within 60m of surface (See Figures 4 and 5). These drill holes have expanded the lateral extent of the northernmost area of the Nash Creek Deposit up to 260m (See Figure 2 and 3).
Highlights from these drill holes include:
Max Porterfield, President and CEO, stated, "The impressive width of mineralization intersected indicates potential to build additional tonnage in the northern expansion of the Nash Creek Deposit. Furthermore, the depth of this mineralization combined with higher grade zones could add significant value to the upcoming PEA."
Callinex plans to delineate the extent of the Nash Creek Deposit along strike in both directions that is coincident with a 3 km long zinc-lead soil anomaly, of which only the southern 2 km has been drilled. The Company also plans to test satellite zones that are open for expansion and commence a district-scale exploration program along the 20 km long land package.
The Nash Creek Deposit hosts a near surface indicated resource totaling 712 million pounds Zn. Eq. and inferred resource totaling 88 million pounds of Zn Eq. (See Table 2). The Company's Superjack hosts an additional near-surface inferred resource totaling 328 million pounds of Zn Eq. in the Bathurst Mining District (See Table 2).
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").
The PEA is expected to have a base-case scenario of a standalone open pit operation with potential to process between 15 to 20 million tonnes of material using dense media separation ("DMS") as a pre-concentration process before the material would be delivered to a conventional flotation mill.
Metallurgical test work indicates the Nash Creek Deposit is amenable to conventional flotation techniques with recoveries of 91% for zinc and 82% for lead based on a coarse grind size. Additional tests also indicate that the current resource grade could be upgraded with the use of dense media separation to a head grade of 5-7% Zn Eq. (See News Release dated September 12, 2016).
Jason Levers, P.Geo, a qualified person under National Instrument 43-101 and Project Geologist 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: Long Section View of the Nash Creek Deposit
Figure 5: 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) |
NC17-246 | 44.1 | 56.0 | 12.0 | 3.85 | 3.09 | 0.41 | 17.36 |
including | 47.1 | 55.6 | 8.4 | 5.25 | 4.23 | 0.56 | 22.96 |
and | 84.7 | 88.0 | 3.3 | 4.35 | 3.22 | 0.58 | 27.33 |
and | 109.0 | 110.0 | 1.0 | 3.03 | 0.84 | 2.17 | 12.65 |
and | 133.9 | 135.4 | 1.5 | 3.86 | 1.50 | 2.52 | 7.08 |
NC17-247 | 82.0 | 89.0 | 7.0 | 1.90 | 1.67 | 0.26 | 0.14 |
including | 83.0 | 84.0 | 1.0 | 6.11 | 4.94 | 1.34 | 0.09 |
and | 108.8 | 110.3 | 1.5 | 1.90 | 1.77 | 0.15 | 0.07 |
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