Callinex Mines (CNX.V) is still drilling on its Pine Bay project in Manitoba’s Flin Flon district and has drilled an additional 3,000 meters in six holes since the most recent exploration update was published in January. The assay results for these six holes are expected by the end of March and this will provide more detailed data on the Sourdough area (2 holes) and the Pine Bay area (3 holes).
Right now, Callinex still has two drill rigs on site with one drill rig deepening hole PBM-008 whilst the other rig is testing the southern strike extension of the Cabin VMS Horizon. Callinex thinks this is the best approach to identify structures with VMS mineralization, and the company anticipates it will be able to complete an additional three holes before calling it a day on the winter drill program. A follow-up summer drill program could start in June after completing more geophysical work.
But Callinex has more irons in the fire than just the Pine Bay project. Last year, the company acquired some zinc assets and the timing couldn’t have been better as Zinc has been one of the best performing base metals in the past 12-18 months.
The company will start an initial drill campaign on its New Brunswick assets which should lead to a PEA study on the Nash Creek project, to be completed by the end of this year. Both the Nash Creek and Superjack projects will be drilled, and we will provide a more in-depth review of the company’s exploration plans in a full report within the next few weeks.
Callinex is attending the PDAC conference in Toronto this week, and we’re certain CEO Max Porterfield and VP Corporate Development Jordan Butler will be happy to answer all your questions at booth 2909!