• Callinex (CNX) has outlined 2023 exploration targets at its Pine Bay Project in Manitoba’s Flin Flon District
  • The program will focus on the continued expansion of the high-grade Rainbow deposit, step-out drilling on the Alchemist target, and follow-up on the Odin target area and the high-grade copper and gold-bearing Cabin horizon
  • President and CEO Max Porterfield spoke with Sabrina Cuthbert about the upcoming exploration
  • Callinex Mines is advancing a portfolio of base and precious metal deposits in established Canadian mining jurisdictions
  • Callinex (CNX) is up by 4.44 per cent, trading at $2.82 per share

Callinex (CNX) has outlined 2023 exploration targets at its Pine Bay Project in Manitoba’s Flin Flon District.

The program will focus on the continued expansion of the high-grade Rainbow deposit ahead of its upcoming maiden resource estimate, step-out drilling on the Alchemist target, and follow-up on the Odin target area and the high-grade copper and gold on the Cabin horizon.

Rainbow

Callinex is focused on two targets at Rainbow, the Orange and Yellow zones, with the potential to expand the size of the deposit both laterally and vertically.

The last deep hole at Rainbow, PBM-158, intersected the Yellow Zone and returned 5 m of 1.56 per cent copper equivalent (1.45 per cent copper, 0.07 g/t gold, 1.86 g/t silver and 0.11 per cent zinc).

Survey data from PBM-158 indicates significant potential for Rainbow to continue at depth.

Survey data from drill hole PBM-136 indicates a strong off-hole response, modelled to be 120 m x 400 m at ~1,000 m downhole, coinciding with mineralization associated with the Orange Zone (4 m of 0.65 per cent copper equivalent).

Increased sulphide mineralization intersected early in the deepest holes at Rainbow suggests a potential for new stacked VMS lenses with base and precious mineralization.

Survey data from PBM-111 indicates that the Orange and Yellow zones may continue to the south and vertically above. A 55 m x 200 m anomaly modelled south of PBM-111 is directly associated with the 2.96 m of 4.43 per cent copper equivalent, including 3.09 per cent copper, 0.75 g/t gold, 13.35 g/t silver and 1.88 per cent zinc in the Yellow Zone.

Alchemist

The Alchemist target shows a strike of at least 140 m between drillhole intersections, currently defined to an extent of 500-800 m below surface and open above, below and to the north.

The last hole drilled into the Alchemist to date, ALC-114, intersected 4.40 m of 4.02 per cent copper equivalent, including 1.60 per cent copper, 5.14 per cent zinc, 0.40 g/t gold and 21.78 g/t silver.

Discovery hole ALC-111 intersected 1.78 per cent copper equivalent (0.90 per cent copper, 1.76 per cent zinc, 0.22 g/t gold and 7.05 g/t silver) while testing a large highly-conductive 600 m x 400 m anomaly.

There have been 8 anomalies modelled from surveyed holes at Alchemist, with 5 of them interpreted to be located on the horizon hosting the deposit.

Follow-up drilling will focus on stepping out vertically above and below the deposit.

Odin

Callinex completed drill hole PBM-191 to follow up on an anomaly intersecting a favourable rock package. The hole intersected one of the highest precious metal intervals to date at the project with 0.52 m of 5.32 g/t gold, 56.67 g/t silver and trace copper and zinc interpreted to be on the Odin horizon.

Elevated precious metals are a strong vectoring tool toward massive sulphides within VMS systems.

Drill hole PBM-192, approximately 250 m south of PBM-191, includes a similarly favourable rock package along strike and to the north at depth.

Callinex has tentatively proposed a follow-up drill targeting based on intersected geology and existing geophysical data sets.

Cabin Horizon

The company has refined an exploration target area at the Cabin Horizon to follow up on drill holes 284-3-93-DPN and PBM-008.

Hole 284-3-93-DPN, the company’s first discovery on the project in 2016, intersected 10.3 m grading 6 per cent zinc, 1.8 g/t gold, 60.4 g/t silver, 0.7 per cent copper and 0.4 per cent lead.

The high-grade intervals at Cabin Horizon are associated with a major alteration zone that spans 1,100 m x 700 m.

President and CEO Max Porterfield spoke with Sabrina Cuthbert about the upcoming exploration.

Callinex Mines is advancing a portfolio of base and precious metal deposits in established Canadian mining jurisdictions.

Callinex (CNX) is up by 4.44 per cent, trading at $2.82 per share as of 10:14 am EST.


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