Exploring New Horizons: Callinex Mines Update on Pine Bay Project

Exciting Developments at the Pine Bay Project

Callinex Mines Inc. is thrilled to share key updates regarding its ongoing exploration efforts at the 100% owned Pine Bay Project, located in the dynamic Flin Flon Mining District. This vast area covers approximately 11,859 hectares (around 120 square kilometers) and is strategically equipped with a mineral lease, hydroelectric power, and an existing 200-meter deep shaft. Such infrastructure is crucial for enabling efficient exploration and operational activities.

Progress of the 2024 Drilling Campaign

The exploration campaign, initiated in August, has yielded promising results. The drilling effectively targeted the Poseidon zone, with hole PBM-197 reaching 802 meters and intersecting favorable geological formations. Currently, the results of this drilling, including assay and geochemical data, are eagerly awaited, as they will guide further exploration strategies.

The Importance of the Poseidon Target Area

The Poseidon area, strategically positioned about 1,300 meters north of the Rainbow deposit, has been gaining attention within the mining community. Recent magnetotelluric (MT) surveys conducted provide important information, revealing significant resistivity anomalies that may indicate the presence of mineralization. This evidence, along with historical drilling data, reinforces the geological potential of the Poseidon target.

Exploration of the Descendent Discovery

Simultaneously, the Descendent area is currently being explored through the drilling of hole DSC-113, which is advancing to a depth of approximately 1,414 meters. This hole aims to intersect the Descendent deposit at around 1,900 meters, demonstrating Callinex's commitment to extensive exploration of their properties. The expectations surrounding DSC-113 are high, as findings so far suggest robust mineral grades comparable to those found in the nearby Rainbow deposit.

Comparative Analysis with Nearby Deposits

Interestingly, preliminary findings from the Descendent hole suggest that the mineral grades are comparable to the upper sections of the Rainbow deposit. The large widths of significant massive sulphide intersections denote a promising metallurgical environment, suggesting potential future economic viability. Furthermore, geological assessments indicate that the alteration zone surrounding the Descendent discovery is notably extensive, measuring approximately 1,100 meters by 700 meters, providing strong indicators of the size and potential of associated mineral deposits.

Future Updates and Expectations

As the exploration progresses, Callinex anticipates providing further updates on their findings, with initial assays expected to be released in early 2025. The dedication and proactive approach of the Callinex team reflect their commitment to harnessing the mineral wealth of the Pine Bay Project, and the results of their current drilling activities are poised to provide critical insights into future developments.

About Callinex Mines Inc.

Callinex Mines Inc. (TSXV: CNX; OTCQX: CLLXF) continues to advance its portfolio of base and precious metals-rich deposits across established Canadian mining districts. The rapidly expanding Rainbow deposit at the Pine Bay Project exemplifies the company’s focus, underpinned by significant resource estimations. Callinex also holds interests in other notable projects, such as the Nash Creek Project in New Brunswick and the Point Leamington Deposit in Newfoundland, exemplifying their strategic focus on high-potential regions with well-defined geological opportunities.

Frequently Asked Questions

What is the main focus of Callinex Mines at the Pine Bay Project?

Callinex Mines focuses on exploring and developing its base and precious metals deposits, particularly in the Poseidon and Descendent target areas of the Pine Bay Project.

What is the significance of the Rainbow deposit?

The Rainbow deposit is significant due to its substantial indicated and inferred mineral resources, showcasing the project's economic potential in the Flin Flon Mining District.

When are assay results expected from the drilling activities?

Initial assay results from the current drilling campaign are anticipated to be released in early 2025 as exploration progresses.

How is the Descendent discovery important for Callinex?

The Descendent discovery is critical as it shows promising metal grades and extensive alteration zones, indicating the potential for a significant mineral resource.

What infrastructure supports the Pine Bay Project?

The Pine Bay Project benefits from existing infrastructure, including a 200-meter deep shaft and hydroelectric power, facilitating efficient exploration and operational activities.

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