Highlights:
- Electromagnetic survey has uncovered four highly conductive anomalies along strike to the south of the Rainbow Discovery;
- The four untested anomalies each have a strike extent of 300m and start within 200m of surface;
- Plans are underway to immediately initiate a drilling campaign to test the four conductive bodies in tandem with continued drilling to define the Orange and Yellow zones; and
- Recent drill results continue to define the Rainbow Discovery at shallower depths.
VANCOUVER, BC,
Callinex's technical team, working in conjunction with
Each of the four modeled conductive anomalies (Anomalies 1-4) have a strike extent of 300 metres and are interpreted to begin at a vertical depth of 200 metres. While none of these plates have been tested by diamond drilling, some historical holes in the vicinity have intersected alteration and geology as seen in recent Rainbow zone drilling. Anomaly 5, which is the modeled conductive body of the Orange and Yellow zones, has a modeled strike extent of 150m, or half the length of Anomalies 1-4 (See Rainbow Discovery Long Section). It should be noted that deposits in the Flin Flon Greenstone Belt typically have a plunge extent on average between 5-8 times the strike of the deposit. Additionally, all larger producing Volcanogenic Massive Sulphide ("VMS") mines are made up of a number of stacked zones or lenses such as the Orange and Yellow zones discovered to date at the Rainbow.
The Survey was completed when Callinex's technical team recognized the importance of the southern area based on known favorable geology, very limited drill testing and having never been covered by
Results from three additional drill holes mark the end of Callinex's 2020 drilling campaign (See Table 1):
Drill Hole PBM-113-W2 intersected the Rainbow Horizon 225 metres vertically above the PBM-111 discovery hole which demonstrates that mineralization will continue to be defined closer to the surface. Correlation between its parent hole PBM-113 which is 100 metres vertically below PBM-113-W2 is supported by the intersection of the
PBM-114 tested the Rainbow Horizon 150 metres below hole PBM-112 in an effort to better define the southern edges (plunge) of the Yellow and Orange zones. Narrow widths associated with the Yellow and Orange zones in PBM-114 suggests future drilling needs to trace northerly from this location.
PBM-115 was designed to test the northern strike extent of the Orange and Yellow zones and represents a 75 metre step out from PBM-113-W1. PBM-115 intersected the
Plans are underway to immediately initiate a drilling campaign to test the four conductive bodies in tandem with continued drilling to define the Orange and Yellow zones.
Table 1: Pine Bay Drill Results
Drill Hole | From (m) | To (m) | Interval (m) | True Width (m) | Cu % | Au g/t | Ag g/t | Zn % | Sg | CuEq % |
PBM-113-W2 ( | 724.50
| 730.00
| 5.50
| 5.03
| 0.50
| 0.37
| 2.48
| 1.27
| 2.95
| 1.27
|
Including | 724.5 | 725.0 | 0.5 | 0.46 | 4.16 | 1.45 | 12.77 | 2.04 | 3.64 | 6.05 |
PBM-113-W2 ( | 771.30
| 777.00
| 5.70
| 5.29
| 3.57
| 0.54
| 21.41
| 1.56
| 3.46
| 4.72
|
PBM-114 ( | 745.00
| 746.50
| 1.50
| 1.20
| 0.07
| 0.05
| 0.47
| 1.21
| 3.05
| 0.57
|
PBM-114 ( | 791.80
| 792.80
| 1.00
| 0.81
| 1.40
| 0.05
| 1.86
| 0.03
| 2.96
| 1.46
|
PBM-115 ( | 783.22
| 786.35
| 3.13
| 2.43
| 1.45
| 0.20
| 6.76
| 0.82
| 3.15
| 1.95
|
Notes(1)(2)(3)(4)(5)(6):
- PBM-113-W2 was wedged off the parent hole (PBM-113) at the depth of 407m and continued to a final depth of 848m. The PBM-113-W2 shares the same collar location as PBM-113 located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within
UTM Zone 14N: 331402m East and 6071286m North. The collar of the hole is 298m above sea level. The dip and azimuth for hole PBM-113-W2 at its 848 metre mark is -29˚and 296.7˚ Az - PBM-114 is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within
UTM Zone 14N: 331378m East and 6071255m North. The collar of the hole is 295m above sea level. The dip and azimuth for hole PBM-114 at its 770 metre mark is -46.6˚and 292.8˚ Az - PBM-115 is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within
UTM Zone 14N: 331445m East and 6071353m North. The collar of the hole is 295m above sea level. The dip and azimuth for hole PBM-115 at its 783 metre mark is -52.5˚and 299.6˚ Az - The size of the drill core is NQ.
- True Width calculations assumed the Rainbow Horizon to strike 032 degrees azimuth, with a 80 degree easterly dip.
- All CuEq (copper equivalent) assay results in this news release use the following pricing:
US$3.00 copper per pound ($6,720 /tonne),US$1.15 zinc per pound,US$1,450 /troy ounce gold ($46.62 /gram),US$16.50 /toy ounce silver ($0.53 /gram), calculation CuEQ= Cu%+(Zn% x zinc price per pound / copper price per pound)+(Au g/t x Au price per gram / copper price per tonne) x100 + (Ag g/t x Ag price per gram / copper price per tonne) x 100. 100% metal recoveries used, ie no process recoveries or smelter payables were included in the calculation
Figure 1: Flin Flon Mining District Region Overview
Figure 2: Pine Bay Project Rainbow Discovery SPEM Survey Plan View
Figure 3: Pine Bay Project Rainbow Discovery Long Section
QA / QC Protocols
Individual samples were labeled, placed in plastic sample bags, and sealed. Groups of samples were then placed in security sealed bags and shipped directly to SGS lab in
About
Neither the
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete future drill programs and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.
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