Callinex Mines (CNX.V) has released a first result from its 2015 summer exploration campaign at the Pine Bay deposit near the Flin Flon in Manitoba, Canada. The first drill hole of the Phase II drill program has encountered a new horizon in the Flin Flon district where it has been conducting an extensive drill program in the shadow of HudBay Minerals’ (HBM) 777 mine.
The first hole of the 2015 summer program was drilled approximately 100 meters east of the Sourdough zone, but what’s more important is the fact this hole was drilled less than 3 kilometers away from the land package owned by HudBay Minerals where the company is currently drilling a few holes as well, as the Centennial mine is a past-producing project (see the next image). Callinex has discovered a 176 meter alteration zone which seems to be showing the characteristics which you would expect from a deposit with VMS-characteristics. This horizon was discovered because the new hole was drilled from west to east, compared to the historic holes which have been drilled from east to west.
The first drill hole didn’t just discover a new horizon and alteration zone, the drill bit also intersected 7.4 meters of 1.58M CuEq including 2.4 meters of 2.22% Cuq as an additional bonus. It will be extremely interesting to see what the results will be of the other drill holes, but these first results are an excellent start of the summer exploration season.
We already explained the best place to look for a new mine is in the shadow of an old mine, and it will be very interesting to see whether or not HudBay has found something on its land package just 2 miles to the southwest of Callinex’ drill hole in Manitoba.
> Click here to go to Callinex’ website
Disclosure: The author holds a long position in Callinex Mines but not in HudBay Minerals. Callinex Mines is a sponsor of the website. Please see our disclaimer for current positions.
