A mineral exploration company announced this week it is evaluating offers for a property near Callinex Mines’ recent high-grade discovery outside of Flin Flon.
Flin Flon-based Copper Reef Mining Corp may sell its Leo Lake-Albert’s Lake Property.
Drilling was conducted at the site earlier this year. An intersection from one hole assayed 2.2 grams of silver per tonne – a level Copper Reef called high, adding that values above two grams of silver “are indicative in the Flin Flon belt that you may be on a productive horizon.”
Copper Reef said it was “encouraged” that the target encountered in the hole turned out to be a mineralized sulphide horizon “with elevated zinc and silver values.”
A second drill hole targeted another anomaly and overshot the “key horizon” intersected in the first hole, the company said. The sulphide horizon uncovered by this hole “is of no further economic interest.”
The Leo Lake-Albert’s Lake Property lies 700 m north of a new high-grade discovery at Callinex’s Pine Bay Project.
Callinex announced last week a drill hole had intersected 10.3 m grading 13.1 per cent zinc equivalent mineralization containing 6.0 per cent zinc, 1.8 grams per tonne (g/t) of gold, 60.4 g/t silver, 0.7 per cent copper and 0.4 per cent lead.
The Pine Bay Project is located 16 km outside Flin Flon.
