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Callinex Mines Intersects 9.0m of 5.2% Zinc Equivalent at Nash Creek Deposit
VANCOUVER, July 13, 2017 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce assays results from the fir
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"VANCOUVER, July 13, 2017 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce assays results from the first five holes drilled at the Company's 100% owned Nash Creek Project (the \"Project\") in the Bathurst Mining District of New Brunswick (See Figure 1). Drill hole NC17-226, located 350m north of the Nash Creek Deposit, intersected 9.0m of 5.2% zinc equivalent mineralization (\"Zn Eq.\") (3.6% Zn, 1.2% Pb and 28.0 g/t Ag) including 2.4m of 12.6% Zn Eq. (9.0% Zn, 2.7% Pb and 59.2 g/t Ag starting at a depth of 11.0m (See Table 1 and Figure 2). Additionally, drill hole NC17-224, located 250m northeast of the Nash Creek Deposit, intersected 14.8m of 3.6% Zn Eq. (2.6% Zn, 0.4% Pb and 32.7 g/t Ag) including 2.7m of 6.9% Zn Eq. (4.8% Zn, 0.9% Pb and 58.6 g/t Ag) starting at a depth of 77.0m. These drill holes are located in an area that is largely untested and the deposit remains open for further expansion. Max Porterfield, President and CEO, stated, \"We are encouraged by these initial drill results which indicate potential to expand the Nash Creek Deposit considerably farther to the north. We look forward to receiving additional assay results from several holes drilled over a 450m long by 200m wide target area.\" Mr. Porterfield continued, \"The focus to grow the Company's zinc-rich resource base within close proximity to infrastructure in the Bathurst Mining District comes during a major global supply shortage. Given that mine production is unable to meet demand and the market is relying on above ground inventories, prices are well positioned to increase in the near future.\" Drill holes NC17-226 and NC17-224 indicate potential for mineralization located closer to surface with higher grades as compared to the northern extent of the Hickey Zone to the south (See Figures 2 and 3). Additionally, NC17-226 encountered extensive zinc mineralization with 43 samples that exceeded 1% Zn Eq. before the hole ended in mineralization grading 1.2% Zn (See Figure 4). After completion of these two holes an additional ten widely-spaced holes were completed to conduct a first pass evaluation over a 450m long by 200m wide area (See Figure 2). The near-surface mineral resource estimate for the Nash Creek Deposit includes an Indicated resource of 9.0 Mt grading 3.6% Zn Eq. totaling 712 M lbs o...