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Saturday, Apr 26, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.
Callinex Mines finds new polymetallic drill targets in Manitoba
Callinex Mines finds new polymetallic drill targets in Manitoba
Drill rig at Callinex Mines’ Pine Bay project near Flin Flon, Manitoba. Image via Callinex Mines

Copper

Callinex Mines finds new polymetallic drill targets in Manitoba

The Visionary area has been producing gold deposits since 1920

Callinex Mines Inc. (CVE: CNX) (OTCMKTS: CLLXF) identified its 2025 exploration targets at its Pine Bay camp in the Flin Flon Mining District in Manitoba.

On Tuesday, the company released the specifics on its exploration objectives, which include four target areas. These areas include definition and expansion of the near surface high grade gold, copper, silver and zinc reach Volcanogenic Massive Sulphide deposits and quartz-carbonate hosted gold deposits.

Furthermore, prospectors staked the Visionary area between 1920 and 1928, leading to the first drill discovery at the Leo deposit. Geologists interpret this deposit to lie on the same horizon as the Descendent deposit.

Historic work on the Leo deposit also prompted Aur Resources Inc. to calculate a historical “inferred mineral inventory” above 500-feet. This includes 192,292 metric tonnes across four zones with an average grade of 2.29 per cent copper and 0.91 per cent zinc.

This includes the 21 zone, which contains 79,417 metric tonnes at 3.65 per cent copper and 1.94 per cent zinc.

“We are very excited to extend historic resources and drilling intersections for both known near surface high grade copper rich VMS and narrow vein gold deposits,” said Max Porterfield, president and CEO.

“The 2025 exploration program will extend known copper and gold deposits and also target discovery of large VMS deposits, on our newly acquired Alberts Lake property, now consolidated into our Pine Bay Camp.”

Read more: New Found Gold shares drop 28% as new mineral resource estimate is announced

Read more: Equinox Gold acquires Calibre Mining for $2.6B

Drilling at Visionary Area finds multiple metal mineralization

Callinex believes it is the first company to create a 3D model of the historical drilling. Furthermore, it interprets the Leo deposit as open at depth. This interpretation relies on historical drilling and previous analyses of Borehole Pulse Electromagnetic (BPEM) surveys from holes that Aur drilled.

Additionally, historic drilling in the Visionary Area has encountered high-grade copper, gold, zinc, and silver VMS mineralization near the surface along a 380 m strike length.

Based on Callinex’s new interpretation, the near-surface Leo deposit extends 130 m along strike and remains open at depth. Additionally, many deposits show elongated shapes with plunge extents from five to eight times strike length.

Highlights from exploration drilling since 1997 include:

  • 3.13 per cent Cu, 10.48 per cent Zn, 10.39 g/t Ag, and 1.28 g/t Au over 1.52 m (98-LW-18)
  • 5.33 per cent Cu, 0.66 g/t Au, 4.94 g/t Ag over 3.05 m (98-LW-16)
  • 1.25 per cent Cu over 11.27 m, including 2.58 per cent Cu, 0.17 g/t Au, 1.73 g/t Ag over 1.83 m (98-LW-16)
  • 1.23 per cent Cu, 0.19 g/t Au, 1.39 g/t Ag over 3.48 m (98-LW-14)

No one has explored the immediate area for VMS-style deposits since Aur ended its exploration in 1999. During the 2025 exploration season, Callinex plans to either ream drill hole 99-LW-25 to a larger diameter for a modern BPEM survey or drill a new hole to test a historical BPEM anomaly. This anomaly aligns with Callinex’s reinterpretation along the plunge line of the Leo deposit.

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