Callinex Mines drills 1.71% CuEq over seven metres at Pine Bay, Manitoba

Callinex Mines Inc. [TSXV-CNX; OTCQX-CLLXF] has provided results from the recently completed drilling to expand the new high-grade copper, zinc, gold and silver Descendent discovery at the 100%-owned Pine Bay project located in the Flin Flon mining district of Manitoba.

Max Porterfield, president and CEO, stated: “Today’s results confirm yet another exciting discovery at our Pine Bay project, with potential to quickly build significant tonnage alongside our recently established resource base. The Descendent discovery has unique characteristics that make it an opportunity worth immediately seizing through additional drilling. This year’s exploration campaign will be another exciting one where we will remain focused on growing Pine Bay into a tier 1 asset with numerous expanding high-grade discoveries.”

Step-out drill hole DSC-112-W1 intersected the Descendent 110 metres vertically below and 50 metres to the south of discovery hole DSC-111 and returned 7.00 metres of 1.71% copper equivalent (CuEq) (0.13% Cu, 0.51 g/t Au, 15.80 g/t Ag and 2.87% Zn), including 3.59 metres of 2.30% CuEq (0.08% Cu, 0.46 g/t Au, 14.31 g/t Ag and 4.68% Zn) and 9 metres of 0.65% CuEq (0.41% Cu, 0.20 g/t Au, 3.44 g/t Ag, 0.20% Zn), including 3 metres of 1.20% CuEq (0.90% Cu, 0.29 g/t Au, 5.19 g/t Ag and 0.15% Zn). The Descendent remains open to the north, and vertically below DSC-112-W1.

The intersection in DSC-112-W1 is the deepest result to date associated with the Descendent and is located 460 metres below PBM-024-W1 the most shallow hole to intersect the Descendent. PBM-024-W1, a 37-metre step-out vertically above parent hole PBM-024, intersected 4.00 metres of 1.37% CuEq (0.53% Zn, 0.92 g/t Au, 34.60 g/t Ag, and 1.64% Cu). Parent drill hole DSC-112 intersected the southern extent of the Descendent 50m south and 25m above the DSC-112-W1 intersections.

Jim Pickell, a member of Callinex’s technical team and recipient of the Bill Dennis Prospector of the year award for the discovery of the 777, Konuto and Photo mines, commented, “Although Callinex’s Rainbow VMS Deposit and its newly discovered Descendent VMS mineralization share many similar geological and mineralogical features, what sets the Rainbow and Descendent apart is the much larger stratigraphic ‘footwall’ VMS feeder alteration system (possibly up to eight to 10 times larger) associated with the Descendent versus the Rainbow deposit.

“This same Descendent-associated ‘footwall’ alteration package, with its spectacular 1,100 by 700 metre surface footprint, has both inspired and eluded previous explorers who also believed that this extra-large alteration system was spatially associated with a correspondingly large to giant VMS deposit. It is also important to note that the elevated silver and zinc grades in the latest Descendent drilling appear to be quite similar to the near-surface, ‘distal’ (to feeder) lower grade portions of the Rainbow deposit that rapidly transition into thicker, higher grade, copper-dominated massive sulphides at depth, closer to its ‘proximal’ alteration (feeder) pipe.”

The most significant section returned from drill hole DSC-111 is 7.14 metres grading 1.70% CuEq (3.34% Zn, 0.29 g/t Au, 14.38 g/t Ag and 0.11% Cu) with additional intersections including a 10.57 metres grading 1.36% CuEq (1.47% Zn, 0.58 g/t Au, 16.51g/t Ag and 0.26% Cu). The results announced today confirm and validate a large geophysical target associated with discovery hole DSC-111 that projects along strike to the northeast for 340 metres and at depth for 840 metres that was previously identified in a borehole pulse electromagnetic survey of the hole.

The company’s exploration thesis is that, like at Rainbow, the grades will continue to improve and transition into high grade copper at depth with further drilling at Descendent.

JJ O’Donnell, Exploration Manager for Callinex and former Senior Mine Geologist at the 777 mine, stated, “Further testing of the Descendent horizon is warranted based on the geology, alteration patterns, and assays returned by the most recent drill holes. Further testing of the Descendent horizon has a great opportunity to increase the overall value of the Pine Bay Project, and I am excited for the upcoming 2024 drill program.”

Peter Jones, member of Callinex’s team and former CEO of Hudbay Minerals , added, “The recent Pine Bay Project NI 43-101 mineral resource estimate was very encouraging, and I am excited about further extensions to known mineralization and new discoveries both along trend and in depth, at this underexplored part of the prolific Flin Flon Greenstone Belt.”

The company will continue to y expand the resource base with a focus on step-out drilling at Descendent. Additionally, it will continue to advance its pipeline of discoveries at the Pine Bay Project (Rainbow, Alchemist and target area Odin) through additional geophysical surveying and potential drill testing.