Callinex Mines, Inc. has shared an updated independent National Instrument 43-101 (NI 43-101) mineral resource estimate has outlined a major increase in contained zinc, lead and silver mineralisation within Indicated and Inferred categories at the company’s 100% owned Nash Creek Project located within the Bathurst Mining District of New Brunswick. The company’s initial exploration programme in 2017 has materially expanded the near-surface deposit and led to an increase in Indicated zinc equivalent (Zn Eq.) lb by 74%, to 963 million lb, and Inferred zinc equivalent lb have increased by 385%, to 407 million lb, based on CIM Terms and Definitions.
Callinex expects to publish a maiden Preliminary Economic Assessment next month that will demonstrate the potential economic viability of a conceptual open pit mine at the Nash Creek and Superjack projects.
The current mineral resource now hosts an Indicated mineral resource totaling 13.6 million t averaging 3.2% Zn Eq. (2.7% Zn, 0.6% Pb and 17.8 g/t Ag) containing 963 million lbs of zinc equivalent mineralisation and an Inferred mineral resource totaling 5.9 million t averaging 3.1% Zn Eq. (2.7% Zn, 0.5% Pb and 14.0 g/t Ag) containing 407 million lbs of zinc equivalent mineralisation.President and CEO of Callinex Mines, Inc, Max Porterfield, stated: “These results confirm our belief that the Nash Creek Project represents a compelling exploration and development opportunity given extensive near surface zinc mineralisation coupled with the excellent nearby infrastructure. Furthermore, the initial success from our 2017 drilling campaign demonstrates the potential to rapidly expand the Nash Creek zinc deposit, which remains open in multiple directions.”
The Nash Creek Deposit is a base metal sulfide deposit hosted within the Early Devonian Dalhousie Group volcanics and volcaniclastic bedrock units. It is comprised of two main zones called the Hickey Zone, located to the north and the Hayes Zone, located to the south. Mineralization occurs at surface in the Hayes Zone and extends for approximately 2.1 km along strike, where mineralisation consists of sub-horizontal mineralisation which is interpreted as a series of vertically stacked horizons within the Hickey Zone. The majority of Zn + Pb + Ag mineral resources within both the Hayes and Hickey zones are located with 250 m from surface.
The current resource estimate is based on a total of 279 drill holes totalling 37 421 m. Results from the company’s 2017 exploration drilling campaign, which consisted of 59 drill holes totalling 10 586 m, were included within the mineral resource estimate (effective 21 March 2018). The 2017 drill holes were drilled vertically at approximately 75 m spacing and focused primarily on expanding the Hickey Zone to the north. Details and highlights of the drilling campaign can be found in various press releases from 19 July 2017 to 4 April 2018.
The larger Nash Creek Project covers several high-grade zinc occurrences over a 20 km long trend within the same geologic setting that hosts the Nash Creek Deposit. This highly prospective land package has had very little exploration work completed and represents an exciting opportunity to discover additional zinc-rich deposits in future exploration campaigns.
The company’s project portfolio now contains indicated resources of 13.6 million t averaging 3.2% Zn Eq. for a total of 963 million lbs of zinc equivalent mineralisation and total inferred resources of 23.2 million t averaging 5.2% Zn Eq. for a total of 2.7 billion lbs of zinc equivalent mineralisation from the Nash Creek, Superjack and Point Leamington projects.
Read the article online at: https://www.globalminingreview.com/exploration-development/19042018/updated-resource-estimate-reveals-great-potential-for-nash-creek-deposit/
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