Callinex Mines is boasting a new set of results which it says proves it has found a rich mineral deposit not far from Flin Flon.
The company, which has mineral holdings throughout an area directly east of Flin Flon, announced new findings Jan. 22 from the Descendent discovery, a high-grade zinc, gold and silver project it first announced last summer. A new drill hole from Callinex’s latest exploration campaign at the site appears to have intersected a rich, high-grade vein of valuable minerals, along with evidence more may be found near the drill site.
According to results shared from the company, the latest drill hole intersected the Descendent 110 metres below and 50 metres south of a previous hole and showed seven metres of 1.71 per cent copper equivalent, including 3.59 metres of 2.30 per cent copper equivalent at .08 per cent copper, .46 grams per tonne gold, 14.31 grams per tonne silver and 4.68 per cent zinc.
The drill hole also shows the deposit is open to the north and is the deepest result yet associated with Descendent.
The Descendent is located about half a kilometre away from the Pine Bay project site proper and not far from the company’s Rainbow and Alchemist deposits, within three kilometres of each. The sites are located about 15 kilometres due east of the Flin Flon area, near the north arm of Lake Athapapuskow off the North Star Road.
“Today’s results confirm yet another exciting discovery at our Pine Bay project, with potential to quickly build significant tonnage alongside our recently established resource base,” said Callinex president and CEO Max Porterfield about the results in a company-issued statement.
“The Descendent discovery has unique characteristics that make it an opportunity worth immediately seizing through additional drilling. This year’s exploration campaign will be another exciting one, where we will remain focused on growing Pine Bay into a tier-one asset with numerous expanding high-grade discoveries.”
JJ O’Donnell, the company’s exploration manager and the former senior mine geologist for Hudbay’s 777 mine, says the results are positive and merit further study.
“Further testing of the Descendent horizon is warranted based on the geology, alteration patterns and assays returned by the most recent drill holes,” O’Donnell said.
“Further testing of the Descendent horizon has a great opportunity to increase the overall value of the Pine Bay Project and I am excited for the upcoming 2024 drill program.”
