Callinex Mines submits Advanced Exploration Permit for Rainbow deposit, Manitoba
Callinex Mines Inc. [TSXV: CNX; OTCQX: CLLXF] reported the submission of its application for an Advanced Exploration Permit (AEP) to the Province of Manitoba for the Rainbow deposit at its Pine Bay Camp located 16km from Flin Flon, Manitoba. This permit is a pivotal step towards long-term project development and is the precursor to an environmental license, which allows for full-scale production.
The AEP is key in facilitating a 10,000-tonne bulk sample from the Rainbow deposit, which is intended for comprehensive metallurgical test work and will lay the groundwork for future underground exploration activities.
“We are thrilled to take this significant step forward by submitting our AEP application,” stated Max Porterfield, President and CEO of Callinex. “The ability to conduct metallurgical test work on a 10,000-tonne bulk sample from the Rainbow deposit represents not only a crucial advancement in our exploration efforts but also paves the way for production.” Porterfield continued, “We remained focused on expanding our already significant ramp accessible high-grade copper resources by aggressively testing high priority target areas which will include expanding recently acquired historic near surface copper and gold deposits at our Pine Bay Camp.”
The maiden mineral resource estimate, announced in July 2023, contained within the mineral lease, consists of the Rainbow deposit with an Indicated Mineral Resource of 3.44 Mt at 3.59% copper equivalent (CuEq) containing 272.4 Mlb CuEq (comprised of 238.3 Mlb copper, 56.9 Mlb zinc, 37.6 koz gold, 692.8 koz silver, 2.3 Mlb lead), an Inferred Mineral Resource of 1.28 Mt at 2.95% CuEq containing 83.4 Mlb CuEq (comprised of 72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 koz Ag, 0.8 Mlb Pb) and the Pine Bay deposit with an Inferred Mineral Resource of 1.0 Mt at 2.62% Cu containing 58.1 Mlb Cu).
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