With the outbreak of COVID-19 in March, the subsequent months have been nothing short of miserable for dozens of industries. But for many metals & mining companies, 2020 has been a busy time. And for shareholders and investors, profitable.
In June, Stockhouse introduced our investor audience to one such Company – Callinex Mines Inc. (CNX) (TSX-V.CNX, OTCQX: CLLXF, Forum) – a Canadian junior explorer that’s discovering and developing base and precious metal rich deposits within established Canadian mining districts.
CNX operates through the exploration and evaluation of its assets, focusing on carrying out exploration activities in Manitoba and New Brunswick. Its portfolio of base and precious metals-rich Volcanogenic Massive Sulphide (VMS) deposits is highlighted by its Nash Creek Project in New Brunswick’s Bathurst Mining District, Pine Bay Project in the Flin Flon Mining District of Manitoba.
On October 13th, Callinex announced a detailed exploration update for its projects in Manitoba and New Brunswick. And the results look very promising.
At the Pine Bay Project, two drill holes have been completed to follow up on the recently announced Rainbow discovery comprising of two high-grade copper, gold, silver and zinc lenses located 16 kilometres away from processing facilities in Flin Flon, Manitoba (see image below). The Rainbow discovery hole, PBM-111, intersected 2.96 metres of 3.09% copper, 0.75 g/t gold, 13.35 g/t silver, 1.88% zinc and a second interval of 4.31 metres of 4.12% copper, 0.22 g/t gold, 2.21 g/t silver, 0.06% zinc.
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In the Bathurst Mining District at the Company’s Nash Creek Project, the soil sampling
campaign has been completed and the Company is awaiting results from the analytical lab. In total, 1,200 samples were collected for analysis of base and precious metals (see image below). Soil samples were collected at 25 metres spacing along section lines spaced at 100 metre intervals to cover the 11 kilometres trend that encompasses the two recently announced silver discoveries located 6.8 kilometres apart.
Drill hole NC20-313 intersected 28.6m of 57 g/t silver at a vertical depth of 120 metres including 16.5 metres of 94 g/t silver and NC19-306 which intersected 19m of 36.53 g/t silver, 0.52% lead and 0.38% zinc at a starting depth of 34.0 metres.
(Click image to enlarge)
Highlights of Projects:
- Samples from two new holes drilled to step-out from the recently announced Rainbow discovery in Manitoba are currently being rushed to the lab for assaying
- A second drill rig is being mobilized to accelerate the expansion of the Rainbow discovery
- Soil sampling campaign to follow-up on two widely spaced silver discoveries in New Brunswick has been completed and awaiting results from the analytical lab
- And, once the soil samples are received and interpreted a drilling campaign will be planned in New Brunswick.
The most recent news follows the September 19th announcement that Callinex had discovered two high grade copper, gold, silver and zinc lenses in the Flin Flon Mining District.
Max Porterfield, President and CEO, commented:
“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. 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.”
INVESTOR ALERT: Callinex Market Update
This positive updates have been indicated by the continued strong performance of CNX stock over the past number of months, which has been trending higher since early October and with a $31 million-plus market cap, this offer excellent value and opportunity for investors.
(Callinex stock chart Apr. – Oct. 2020. Click image to link to chart)
Callinex is focused on making discoveries to benefit our shareholders and the local communities that depend on mining at a time when they need it most. Our distinguished technical team has made many discoveries that went on to become producing mines and I have confidence that we will achieve our ambitious goals.
Max Porterfield, President & CEO Callinex Mines Inc.
(Click image to play video)
For more information, visit callinex.ca.
FULL DISCLOSURE: This is a paid article produced by Stockhouse…
Read More: Who’s the Junior Explorer that’s Reporting High-Grade Copper, Gold, Silver and
