Callinex Mines (CNX.V) has completed its Induced Polarization survey on its Nash Creek zinc project in New Brunswick, and has now released the preliminary results of this survey. These results seem to indicate the existence of an area of interest of approximately 400 meters by 1900 meters just one kilometer east of the currently known mineralized zones at Nash Creek. This IP anomaly isn’t just close to Nash Creek, according to Callinex Mines the footprint of the area also ‘compares favorably to the IP signature associated with the Nash Creek deposit’.
CNX has already drilled two holes to drill-test this anomaly, and both holes intersected sulphide mineralization. The core has been sent to the lab, and we expect to see assay results towards the end of this month. Should the drill core indeed carry grade and be amenable to be upgraded using the DMS method, Callinex will very likely design an extensive drill program after the winter to follow up on the IP anomaly and the results of the just-completed 4,750 meter drill program, consisting of 23 holes.
It’s needless to say that a second orebody right next to the main resource would have a major positive impact on the entire Nash Creek project as an increased mine life will have a a positive influence on the Net Present Value, while more high-grade mineralization would be a welcome addition to the mine plan too. We previously discussed Callinex’ PEA here.