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Callinex Mines Files Technical Report for Maiden Preliminary Economic Assessment
VANCOUVER, July 3, 2018 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce that it has filed an indepen
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, July 3, 2018 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce that it has filed an independent technical report for a Preliminary Economic Assessment (\"PEA\") on SEDAR for the Company's 100% owned Nash Creek and Superjack Projects located in the Bathurst Mining District of New Brunswick, Canada (See Figure 1 and Figure 2). The PEA can be viewed by clicking here or by visiting the Company's SEDAR profile at www.sedar.com. The maiden 2018 PEA outlines a 10-year, 3,900 tpd open-pit mining operation with a Dense Media Separation plant and 1,950 tpd conventional flotation process facility located at the Nash Creek Project (the \"Project\"). The PEA mine plan generates a strong economic return with a pre-tax internal rate of return of 34.1% (25.2% post-tax) and a pre-tax Net Present Value at an 8% discount rate of C$230 million (C$128 million post-tax) based on pre-production capital costs of C$168 million and a zinc price of US$1.25/lb (See News Release dated May 15, 2018). A two-minute overview video for the Nash Creek Project can be viewed by clicking here. The Nash Creek and Superjack Projects benefit from world-class infrastructure within close proximity. The Nash Creek Deposit is located approximately 1 km from Provincial Highway 11 and a 230 Kv high-voltage transmission line and only 25 km by road to Glencore's Brunswick Smelter, deep water port, railway and power plant at the Port of Belledune (See Figure 1 and Figure 2). The Company plans to commence a drill program at the Project within the next 10 days with the objective to identify potential for satellite deposits within the immediate vicinity of the Nash Creek Deposit. There is a significant opportunity to further enhance the project's economics with additional exploration over the 150km2 district-scale land package. Cautionary Note on PEA. The PEA is preliminary in nature and it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the PEA will be realized. J.J. O'Donnell, P.Geo, a qualified person under National Instrument 43-101 and a Consulting Geologist for Callinex, has reviewed and approved the technical information ...