Business
Callinex Commences Drilling Near Flin Flon, Manitoba
VANCOUVER , Aug. 10, 2015 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TS...
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"\n\nVANCOUVER, Aug. 10, 2015 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has commenced its Phase Two drilling campaign near Flin Flon, Manitoba. The campaign is planned to include five holes totaling approximately 2,500m between the Company's 100% owned Pine Bay and Flin Flon projects. The objective of the drilling campaign is to discover high-grade copper and zinc rich massive sulfide mineralization within close proximity to HudBay's 777 Mine.\n\nThe Company plans to test several newly identified geophysical targets located at depth and along strike of the Sourdough deposit at the Pine Bay Project. These new targets were identified earlier this year based on modern geophysical technology and have significant potential to represent massive sulphide mineralization. In particular, target PB-10 represents a large and highly conductive untested geophysical target beneath the deposit at a starting depth of 350m and trends along strike towards HudBay's Centennial Mine.\n\nThe Sourdough deposit area is highly prospective based on modern geophysical targets, high-grade mineralization and limited historic drilling. The majority of historic drilling was completed before 1950 and the deposit area has not been drilled based on modern geophysics. Callinex has identified significant exploration potential between HudBay's past producing Centennial Mine, located approximately 2km to the southwest, and the Sourdough deposit. Both the Centennial Mine and Sourdough deposit host significant high-grade copper-zinc-gold-silver mineralization.\n\nDepending on results from drilling at the Sourdough deposit, the Company has outlined three additional drill targets between the Pine Bay and Flin Flon projects that are accessible this summer. These targets were also identified through the 2015 geophysical program and are located near mapped rhyolites with limited or no drilling previously completed.\n\nAdditionally, the Company submitted an application for funding through the Mineral Economic Assistance Program (\"MEAP\") and received approval for up to $159,529 in funding towards eligible expenditures at the Pine Bay and Flin Flon projects. It is anticipated that the eligible expenditures will be incurred before April 1, 2016 and the Company will receive the funding in full.\n\nThe...