Callinex starts drilling campaign at Nash Creek
Published by Stephanie Roker,
Editor
Global Mining Review,
Callinex Mines Inc. has announced that it has commenced diamond drilling at the company’s 100% owned Nash Creek Zinc project located in the Bathurst Mining District of New Brunswick, Canada. The drilling campaign will consist of approximately 20 - 40 drill holes totalling 3500 –-7000 m to test potential for satellite zinc-lead-silver deposits periphery to the Nash Creek Deposit.
The company recently completed a preliminary economic assessment (PEA) which outlined a high margin, opencast mine plan that generates a pre-tax internal rate of return of 34.1% and net present value at an 8% discount rate of US$230 million. The current drill programme is a clear opportunity to significantly enhance the project’s economics with additional exploration that extends the mine life and/or allows for higher grade material to be scheduled earlier in the mine plan.
There are six main target areas that surround the Nash Creek Deposit and include: Hayes South, Hayes North, Hickey East, NW Soil Anomaly, Hickey North and the Central Zone. Drilling has commenced in the NW Soil Anomaly area and will generally proceed in a southern direction.
A 60 line km ground induced polarisation (IP) survey will be completed at the Central Zone shortly to further delineate zinc-lead-silver mineralisation and potential to discover new deposits. The IP programme may be expanded up to 160 line km to cover high priority target areas along a 20 km trend of mineral occurrences grading up to 19% Pb+Zn.
Read the article online at: https://www.globalminingreview.com/exploration-development/12072018/callinex-starts-drilling-campaign-at-nash-creek/
You might also like
Stantec to lead engineering and environmental consulting for Arctic infrastructure project in Canada
Stantec has been selected by West Kitikmeot Resources to continue advancing the engineering and environmental consulting services for the Grays Bay Road and Port Project in Nunavut, Canada.