With the outbreak of COVID-19 in March, the subsequent months have been nothing short of miserable for dozens of industries. But for many metals & mining companies, 2020 has been a busy time. And for shareholders and investors, profitable.
In June, Stockhouse introduced our investor audience to one such Company – Callinex Mines Inc. (CNX) (TSX-V.CNX, OTCQX: CLLXF, Forum) – a Canadian junior explorer that’s discovering and developing base and precious metal rich deposits within established Canadian mining districts.
On October 13th, Callinex announced a detailed exploration update for its projects in Manitoba and New Brunswick. And the results look very promising.
At the Pine Bay Project, two drill holes have been completed to follow up on the recently announced Rainbow discovery comprising of two high-grade copper, gold, silver and zinc lenses located 16 kilometres away from processing facilities in Flin Flon, Manitoba (see image below).
The Rainbow discovery hole, PBM-111, intersected 2.96 metres of 3.09% copper, 0.75 g/t gold, 13.35 g/t silver, 1.88% zinc and a second interval of 4.31 metres of 4.12% copper, 0.22 g/t gold, 2.21 g/t silver, 0.06% zinc.
Highlights of Projects:
Samples from two new holes drilled to step-out from the recently announced Rainbow discovery in Manitoba are currently being rushed to the lab for assaying
A second drill rig is being mobilized to accelerate the expansion of the Rainbow discovery
Soil sampling campaign to follow-up on two widely spaced silver discoveries in New Brunswick has been completed and awaiting results from the analytical lab
And, once the soil samples are received and interpreted a drilling campaign will be planned in New Brunswick.
The most recent news follows the September 19th announcement that Callinex had discovered two high grade copper, gold, silver and zinc lenses in the Flin Flon Mining District.
Max Porterfield, President and CEO, commented:
“The two high grade copper, gold, silver and zinc lenses discovered, coupled with subsequent borehole survey results, suggest we are at the early stages of a substantial discovery in Manitoba. The community of Flin Flon has been through a storm with a great deal of uncertainty about its future with the impending shutdown of the 777 mine. We believe the Rainbow discovery has the potential to provide a bright future for Flin Flon and our shareholders.”
News Reference: https://stockhouse.com/news/newswire/2020/10/20/who-s-junior-explorer-that-s-reporting-high-grade-copper-gold-silver-and-zinc