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Callinex Mines announces Rainbow discovery results

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Global Mining Review,

Callinex Mines Inc. has announced the Rainbow discovery, comprising of two high-grade copper, gold, silver and zinc lenses at its Pine Bay Project, located 16 kms away from Flin Flon, Manitoba, Canada. The Rainbow discovery hole, PBM-111, intersected 2.96 m of 3.09% copper (Cu), 0.75 g/t gold (Au), 13.35 g/t silver (Ag), 1.88% zinc (Zn) and a second interval of 4.31 m of 4.12% Cu, 0.22 g/t Au, 2.21 g/t Ag, 0.06% Zn. The Rainbow discovery has been made on the company’s mineral lease, less than 500 m from a high-voltage power-line and 800 m from a historic shaft with direct road access to processing facilities in Flin Flon. Based on assay results obtained from drillhole PBM-111 and a newly completed Borehole Pulse ElectroMagnetic (BPEM) survey, the company has mobilised a drill to commence a second hole to test a highly conductive off-hole anomaly defined to the north of drill hole PBM-111.

Max Porterfield, President and CEO, stated: “The two high-grade copper, gold, silver and zinc lenses discovered, coupled with subsequent borehole survey results, suggest we are at the early stages of a substantial discovery in Manitoba.” Porterfield continued: “The community of Flin Flon has been through a storm with a great deal of uncertainty about its future with the impending shutdown of the 777 mine. We believe the Rainbow discovery has the potential to provide a bright future for Flin Flon and our shareholders.”

The Rainbow discovery was made by testing a previously identified BPEM anomaly known as Anomaly A, a highly conductive 260 m by 600 m anomaly. Anomaly A is located at the intersection of a known mine horizon and probable paleofault. Drill hole PBM-111 intersected Anomaly A and returned 2.96 m of 3.09% Cu, 0.75 g/t Au, 13.35 g/t Ag, 1.88% Zn at 892.04m down hole and a second interval of 4.31m of 4.12% Cu, 0.22 g/t Au, 2.21 g/t Ag, 0.06% Zn at 933.24 m. The Rainbow discovery was preceded by over 400 m of highly altered feldspar-phyric rhyodacite flow beginning at 454.45 m downhole and coinciding with an Induced Polarisation chargeability high isoshell. Nearly all VMS deposits in the Flin Flon Greenstone Belt are immediately related to an alteration zone and the extent of which typically has a correlation to the deposit size.

A subsequent BPEM survey completed on drill hole PBM-111 revealed a highly conductive source off-hole and to the north. The strong off-hole anomaly is located 925 m down hole and between two base and precious metals-rich massive sulfide lenses occurring at 892.04m and 933.24 m. These results suggest an abrupt thickening and possible merging of the two massive sulfide lenses immediately to the north. The off-hole anomaly has a Tau of 80 m/s which is often seen in other large discoveries made in the Flin Flon district such as the Lalor Mine.

Additionally, an initial interpretation of the results indicates that the vector for the first mineralised lens at 892.04 m is to the south, while the second mineralised lens at 933.24 m is to the north, increasing the potential strike extent of the Rainbow discovery. The typical strike extent for a lens in the Flin Flon greenstone belt is ~150 m and the plunge extent is between 5-8 times longer than the strike.

Callinex’s Pine Bay Project encompasses the majority of the Baker Patton Complex (BPC), the largest exposed felsic (rhyolitic) volcanic accumulation in the Flin Flon portion of the Flin Flon-Snow Lake Greenstone Belt. This is especially important since the majority of the VMS deposits occurring within the Flin Flon Belt of Saskatchewan and Manitoba are almost always hosted by rhyolitic flows and volcaniclastic rocks within predominantly mafic terranes. Of additional importance is that these felsic (rhyolitic) rocks only account for a small portion of the total volcanic pile (5 – 10%). Of particular exploration interest to Callinex’s Pine Bay Project, is the very large exposure of intensely altered (chloritic, sericitic and silicic alteration) felsic rocks that have collectively been called the Baker Patton Alteration Zone, encompassing an area with a minimum of a 700 m by 1000 m footprint. A very large footwall alteration system such as this would normally be expected to be accompanied by a large VMS system and has consequently been the target of many exploration companies preceding Callinex.

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