Callinex Mines says it has identified a “high-priority” target at its Pine Bay Project, the latest promising development at the mineral property.
The exploration company said Wednesday that results from one drill hole, known as SDB-004, expanded the down-plunge extension of the Sourdough deposit portion of the site.
SDB-004 intersected 4.9 metres grading 1.76 per cent copper equivalent, Callinex said.
An electromagnetic survey completed in the hole identified a large, highly conductive off-hole anomaly located about 200 metres north along strike and which appears to lie within the same horizon as the Sourdough deposit, the company said.
“This geophysical anomaly is a high-priority target that will be tested” during drilling this summer, Callinex said in a news release.
Max Porterfield, president and CEO of Callinex, said mineralization encountered “over a significant area” between SDB-004 and another drill hole “indicate that the system is more robust than previously interpreted.”
“The highly conductive geophysical drill target, located within favourable host rocks, represents a compelling exploration opportunity,” he added.
The anomaly detected in SDB-004 is modeled to have an approximate strike length of 750 metres and vertical extent of 400 metres, Callinex said.
A second large and “highly conductive target,” initially identified in 2015 but which remains untested, is modeled to have an approximate strike length of 310 metres and a vertical extent of 260 metres, the company said.
The Sourdough area is located about two km north of Hudbay’s long-defunct Centennial mine and has not been subjected to significant modern exploration.
Prior to Callinex completing four drill holes between mid-2015 and early 2016, there had been no drilling on the Sourdough deposit since 1980, according to the company.
The Pine Bay Project is located 16 km east of Flin Flon. The project area spans 6,000 sq ha and has two distinct areas with VMS mineralization: the northern Pine Bay area and the southern Sourdough area.
