Callinex Mines (CNX.V) has released the assay results of more drill holes which were completed at its Nash Creek zinc project in New Brunswick’s Bathurst Mining district. This means Callinex has now released the assay results from 23 holes of the 24 hole drill project which included a total of approximately 4,600 meters of drilling.
As Callinex has made a lot of progress at Nash Creek, the company now feels confident to advance the property to a PEA stage. The company will now complete an additional drill program at Nash Creek (which will probably mainly consist of an infill drill program), but Callinex intends to prepare a maiden Preliminary Economic Assessment in the first quarter of next year. This PEA will probably be focused on a standalone mine and processing plan, but we are still keeping an eye on the under-utilization of Trevali Mining’s (TV.TO) Caribou mill which seems to be running at a slower pace than its nameplate capacity due to lower underground mining levels. And of course, as Osisko Metals (OM.V) has started its exploration programs in the Bathurst District as well, we could be in for a very hot fall and winter period in the mining camp.