Callinex Mines (CNX.V), one of the hottest exploration stories of the past few months after the discovery of a high-grade base metal zone at its Pine Bay project in Manitoba, has announced its plans for a follow-up drill program.
The company is now planning to drill up to 10,000 meters before the end of this winter to drill-test an area of approximately 300 meters along strike and a depth of 300 meters. Callinex Mines will expedite this drill program with the addition of a second drill rig, as according to CEO Max Porterfield, Callinex is ‘eager to advance its new discovery and it’s undertaking several measures to fast-track the campaign’.
The drill program will consist of several deep holes, wherefrom some wedges will be drilled to intersect the targeted mineralization over a strike length of 300 meters and a vertical depth of 300 meters using a spacing of approximately 125 meters. After completing a financing deal with the Sprott Group, Callinex has plenty of cash in the bank and is even hinting at a potential increase of the total amount of drilled meters at Pine Bay!