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Callinex Acquires High-Grade Tara Lake VMS Deposit Near Flin Flon, MB
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 20, 2017) - Highlights: Agreement to acquire the Big Island Project located near Flin Flon, Manitoba that incl
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 20, 2017) - Highlights: Agreement to acquire the Big Island Project located near Flin Flon, Manitoba that includes a high-grade Volcanogenic Massive Sulphide (\"VMS\") deposit; Previous drilling at the Tara Lake Deposit is highlighted by results including 7.4m of 35% Zn Eq, 12.4m of 34% Zn Eq. and 19.6m of 24% Zn Eq., with no subsequent exploration conducted since 1991; and Callinex now controls over 100 sq. km land package within the Flin Flon Mining District. Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSX VENTURE:CNX) (OTCQX:CLLXF) is pleased to announce that it has signed an option agreement to acquire a 100% interest in the Big Island Project (the \"Project\") located 10 km east from HudBay's processing facilities in Flin Flon, Manitoba. The Project includes the Tara Lake Deposit, which is one of the highest grade VMS discoveries within the Flin Flon Mining District. The western portion of the Project may contain a similar sequence of primitive arc tholeiite volcanic rocks that host the Flin Flon, Callinan and 777 Mines and that have collectively produced over 100 million tonnes of ore. Callinex now controls one of the largest and most prospective land positions totaling over 100 sq. km within the Flin Flon Mining District (See Figure 1). Max Porterfield, President and CEO, stated, \"The Big Island Project contains one of the highest-grade zinc and gold-rich VMS deposits ever discovered within the Flin Flon Mining District. We are looking forward to conducting systematic exploration to discover additional mineralization. Callinex has assembled one of the most prospective and strategic land packages within the Flin Flon area and is uniquely positioned with its technical team to maximize the potential of these projects.\" Between 1987 and 1988 Westfield Minerals discovered exceptionally high-grade zinc and gold-rich VMS mineralization over considerable widths with highlights including (See Table 1): DDH 87-03 intersected 12.4m of 33.9% Zn Eq. including 22.4% Zn, 5.8 g/t Au, 93.6 g/t Ag and 0.6% Cu at a starting depth of 22.0m; DDH 87-11 intersected 7.4m of 35.3% Zn Eq. including 20.3% Zn, 7.2 g/t Au, 110.1 g/t Ag and 1.2% Cu at a starting depth of 24.9m; and DDH 88-41 intersected 19.6m of 23.8% Zn Eq. including 14.6% Zn, 3.1 g/t Au, 58.6 g/t Ag and 1.7% Cu at a star...