Callinex Mines Inc. has announced the results of the 14 drillhole programme, that included ten holes that are meant to confirm the extension of the Nash Creek Deposit.
This deposit lies approximately 500m to the north at the company’s 100% owned Nash Creek Project located within the Bathurst Mining District of New Brunswick. Results announced to date from Callinex’s initial drilling campaign has successfully increased the strike length of the Deposit by approximately 35% as indicated by a total of 13 drill holes that all intersected significant mineralisation. The deposit is open for expansion laterally to the north of drill hole NC-241 that intersected 10.6m grading 4.3% zinc equivalent.
The southern 1.5km of the 2km long Nash Creek Deposit contains an indicated resource totaling 712 million pounds of Zn Eq. mineralization and an inferred resource totaling 88 mil/lbs of Zn Eq. mineralisation. The Superjack Project located 100 km by highway to the southwest hosts an additional near-surface inferred resource totaling 328 million pounds of Zn Eq. mineralisation in the Bathurst Mining Camp.
Highlights from the northern extension of the Nash Creek Deposit include plenty of data from each individual drill holes, for example Hole 229 intersected 11.7m of 4.0% Zn Eq. within a larger intersection over 18.1m grading 3.0% Zn Eq. at a starting depth of 18.0m. While Hole 233 intersected 9.5m of 6.5% Zn Eq. within a larger intersection over 43.9m grading 3.1% Zn Eq. at a starting depth of 30.1m; and Hole 241 intersected 10.6m of 4.3% Zn Eq. with a larger intersection over 20.0m of 3.0% Zn Eq. at a starting depth of 64.5m.
Max Porterfield, President and CEO, stated “We are looking forward to aggressively delineating additional zinc-rich mineralisation in the Bathurst Mining District, particularly in advance of an upcoming PEA that will evaluate the economic potential of these deposits. The Nash Creek and Superjack zinc projects, which are directly connected by highway with access to power, represent a unique opportunity to build shareholder value considering their size, location and exploration potential.”
Callinex has announced plans to extend its current drilling programme in the Bathurst mining district throughout 2017, with an aim to expand the Nash Creek deposit further and conduct additional infill drilling as required to complete an updated resource estimate on the project. A subsequent announcement will be made regarding the specifics of this programme along with exploration plans for the nearby Superjack project, where initial assays are under way.
The company has also been evaluating proposals with engineering firms to complete a Preliminary Economic Assessment (PEA) that is envisioned to include open pit mining and a standalone processing facility at the Nash Creek project with the nearby Superjack Project serving as a source of open-pit mineralisation.