Callinex Mines (CNX.V) has recently started its exploration program at its Pine Bay project near Flin Flon, Manitoba. The company was following up on earlier exploration success achieved in 2015, and 4 holes for a total of almost 3,000 meters have already been completed.
Despite having drilled just a few holes, Callinex says it has already discovered a new VMS zone at Pine Bay, approximately 450 meters away from the historic underground workings on the project. Hole 8 intercepted a 4 meter wide zone containing chalcopyrite at a vertical depth of 313 meters.
That’s an interesting achievement, and it confirms the value of having access to the data of exploration results over the past few decades. This hole was actually meant to follow up on another hole that was drilled almost 25 years ago where Placer Dome discovered a 20 meter interval of massive chlorite and sulphide mineralization, so discovering this new VMS zone isn’t a coincidence but all part of a larger and smarter plan, based on the historical exploration results.
Of course, it’s still very early days at Pine Bay, but the continuous exploration success shows the company is sitting on a very exciting asset on a strategic location. We’re 100% certain HudBay Minerals (HBM.TO, HBM) is keeping an eye on all developments as it will have to secure additional feed for its concentrator at Flin Flon.