Callinex Mines (CNX.V) has been focusing on its zinc portfolio in New Brunswick last year, but that doesn’t mean the company is ignoring its assets in Manitoba. The company has now commenced a deep IP survey at the Pine Bay project to figure out if there’s pyrite-rich mineralization that could be hosting zinc and copper mineralization along the three already identified VMS horizons.
Callinex has engaged Abitibi Geophysics to complete the survey as that company owns the rights to the OreVision Induced Polarization system which is efficient up to a depth four times as deep as the conventional IP range. Callinex is deploying this Deep IP survey after encountering pyrite-rich zones (that had not been identified by conventional IP surveys) through drilling.
The company has also provided an update on its IP survey on the Nash Creek zinc project, and it looks like the survey has been completed and the results could be expected shortly. Meanwhile, Callinex continues to build out its portfolio in the Bathurst mining district as the company has now completed the acquisition of the Headway North claim which adds roughly 4 kilometers of strike length to the existing Headway project which is located directly to the south of the past-producing Brunswick #12 mine where in excess of 130 million tonnes of rock were processed at a ZnPb grade of in excess of 10%. The Headway North claims include the Pabineau deposit which contains just over 136,000 tonnes of rock at an average grade of 2.65% zinc and 0.87% lead. That’s indeed low grade for a zinc-lead project, but Callinex appears to be mainly interested in the three high-priority exploration targets on the claims.
Now the zinc price is breaking through the $1.30 per pound again, we hope to see some renewed interest in zinc companies.