Callinex Mines Inc announces planned expansion of land package at Nash Creek project

The project is part of a land package located in the Bathurst Mining District of New Brunswick. The new area spans 36 sq/km, covering a trend of high-grade base metal occurrences to the south of the Nash Creek Deposit within an unexplored volcanogenic massive sulfide belt. This sizeable land package has potential to host additional zinc-rich sulfide deposits over a 20 km trend, of which only 2 km has been subject to any exploration which is related to the known Nash Creek Deposit. The Nash Creek Deposit is open for expansion along strike in both directions and is being aggressively advanced towards a maiden Preliminary Economic Assessment.

Max Porterfield, President and CEO, stated: “We look forward to aggressively advancing our sizeable resource base in New Brunswick and developing a project portfolio that is viable at current zinc prices. This larger land package ensures that Callinex controls a prospective VMS district with potential for new deposits to be discovered.”

 

The deposit is currently being developed as a potential open pit operation, due to a near surface indicated resource totalling 712 million lbs of zinc equivalent mineralisation, including deep inferred resource of 88 million lbs of zinc equivalent. The company’s near-term exploration objective is to materially upgrade the resource estimate on the Nash Creek Deposit.

 

The project is ideally near good infrastructure, being approximately 1 km south of Provincial Highway 11 with access to power supplied by a nearby 450 MW power station. Additionally, the Project is located 100 km by road to Trevali’s Caribou Mine and 25 km by road to a deep water port along with Glencore’s Belledune lead/silver smelter, which has direct railway access to Glencore’s Canadian zinc smelting and refining operations.

Callinex recently announced the discovery of mineralization 350 m to the north of the Nash Creek Deposit where drill hole NC17-224 intersected 9.0m of 5.2% zinc equivalent, including 2.4m of 12.6% zinc equivalent at a starting depth of 11m. The Company anticipates additional drill results from the Nash Creek Project to be released within 15 days.

The larger Nash Creek land package occurs within the Chaleur Bay Synclinorium that largely consists of Devonian-aged bimodal felsic and mafic rocks of the Dalhousie Group along with intercalated marine sedimentary rocks. The Chaleur Bay Synclinorium has not been extensively explored for base metal deposits and the largest known deposit within this rock package is the the Nash Creek Deposit. Typically, sulfide deposits occur in clusters suggesting that these high-grade occurrences to the south of the known deposit, and within the same geological environment, are high-priority exploration opportunities.

The geology of this expanded land package compares favorably to the Nash Creek Deposit where the initial discovery was made by stream sediment sampling. The mineralisation is related to high-grade sphalerite and galena breccia veins, which likely feeds stratiform mineralisation within breccia zones at the mafic and felsic contact.

Read the article online at: https://www.globalminingreview.com/exploration-development/24082017/callinex-mines-inc-announces-planned-expansion-of-land-package-at-nash-creek-project/