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Callinex Mines Establishes District-Scale Land Package at Nash Creek Zinc Project
VANCOUVER, Aug. 21, 2017 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has significantly e
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"VANCOUVER, Aug. 21, 2017 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has significantly expanded its Nash Creek Project land package located in the Bathurst Mining District of New Brunswick (See Figure 1). The new claims, which span 36 sq. km, were staked to cover a trend of high-grade base metal occurrences to the south of the Nash Creek Deposit within an underexplored volcanogenic massive sulphide (\"VMS\") belt. This sizeable land package has potential to host additional zinc-rich VMS deposits over a 20 km trend, of which only 2 km has been subject to any significant exploration which is related to the known Nash Creek Deposit. The Nash Creek Deposit is open for expansion along strike in both directions and is being aggressively advanced towards a maiden Preliminary Economic Assessment. Max Porterfield, President and CEO, stated, \"We look forward to aggressively advancing our sizeable resource base in New Brunswick and developing a project portfolio that is viable at current zinc prices. This larger land package ensures that Callinex controls a prospective VMS district with potential for new deposits to be discovered.\" The Nash Creek Deposit, which is being developed as a potential open pit operation, hosts a near surface indicated resource totaling 712 million pounds of zinc equivalent mineralization (\"Zn Eq.\") and inferred resource totaling 88 million pounds of Zn Eq. (See Table 1). The Company's near-term exploration objective is to materially upgrade the resource estimate on the Nash Creek Deposit. The Project is ideally situated approximately 1 km south of Provincial Highway 11 and has access to power supplied by a nearby 450 MW power station. Additionally, the Project is located 100 km by road to Trevali's Caribou Mine and 25 km by road to a deep water port along with Glencore's Belledune lead/silver smelter, which has direct railway access to Glencore's Canadian zinc smelting and refining operations. Callinex recently announced the discovery of mineralization 350m to the north of the Nash Creek Deposit where drill hole NC17-224 intersected 9.0m of 5.2% Zn Eq. including 2.4m of 12.6% Zn Eq. at a starting depth of 11m (See News Release dated July 13, 2017). The Company anticipates additional drill results from the Nash Creek Project to be...