Retire43
4 months ago
Shareholders news letter:
Vancouver, British Columbia – January 18, 2024 – Callinex Mines Inc. (“Callinex” or “the Company”) (TSXV: CNX) (OTCQX: CLLXF) is pleased to provide its year-end letter to shareholders from President and CEO, Max Porterfield:
Dear Shareholders,
I’m writing to you today with greater enthusiasm and conviction than ever before as our team defines our remarkable portfolio of base and precious metals rich deposits and advances extraordinary new mineral discoveries. The milestones achieved last year solidified several years of exploration and established a foundation for significant growth far beyond what we have achieved to date. Achieving the 2023 milestones would not have been possible without the continued support of our shareholders, stakeholders and by the efforts of my colleagues to whom I’d like to extend sincere thanks and appreciation.
Callinex’s first key milestone was in July 2023 when we announced a maiden mineral resource estimate of high grade copper equivalent mineralization at our flagship Pine Bay Project in Manitoba. The Rainbow deposit was the principal of two deposits in the estimate and after its discovery in late 2020 the Callinex team focused its efforts on delineating the Rainbow deposit over several drilling seasons prior to publishing a maiden resource estimate. I am very pleased that the resource estimate created a strong base to build upon and highlights the extraordinary, combined copper equivalent grades at the adjacent Rainbow and Pine Bay deposits.
On the exploration front, on the heels of our 2023 financing, the Company commenced its 2023 exploration campaign in late March focused on the growth fault corridor that hosts known deposits and emerging discoveries at Pine Bay. The campaign was a resounding success and resulted in achieving our second key milestone of 2023, the Descendent discovery by drill hole DSC-111, which intersected four mineralized base and precious metals rich VMS zones.
The Descendent discovery follows in the footsteps of numerous historical exploration groups exploring this specific area of Pine Bay going back over a century to 1911. More recently, in the mid-1990’s, both Placer Dome and Inmet Mining explored this area at depth with exploration objectives of discovering 30 and 20 million tonnes of high-grade base and precious metals rich mineralization, respectively.
The Descendent discovery is located within one of the largest and most highly altered packages of felsic rocks in the prolific Flin Flon Greenstone Belt, a major alteration zone, whose size is typically correlated with the size of the VMS deposit associated with it and which had previously been identified at surface spanning an extensive 1,100m by 700m.
Since the Descendent discovery, our Company commenced an initial step-out drilling campaign to test the continuity of the discovery at depth, where assay results are still pending. Looking forward, our immediate focus will be to continue to aggressively expand the resource base through Descendent step-out drilling and further defining our other pipeline of discoveries. Additionally, we will look to expand our strategic exploration portfolio within the Flin Flon district should the opportunity arise.
I have strong conviction that 2024 will be another transformative year for our Company as the Pine Bay Project solidifies itself as a tier one asset with an exponentially growing polymetallic resource base of high grade copper, gold, silver and zinc deposits. All of this taking place on the backdrop of strong base and precious metals prices driven by favorable supply and demand fundamentals.
Sincerely,
“Max Porterfield”
President & CEO
J.J. O’Donnell, P. Geo, a qualified person under National Instrument 43-101 and Exploration Manager for Callinex, has reviewed and approved the technical information in this news release.
About Callinex Mines Inc.
Callinex Mines Inc. (TSXV: CNX) (OTCQX: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The focus of the portfolio is highlighted by the rapidly expanding Rainbow deposit at its rich VMS Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Callinex prepared an indicated mineral resource on the Rainbow deposit of 3.44 Mt grading 3.59% CuEq for 272.4 Mlb CuEq (238.3 Mlb Cu, 56.9 Mlb Zn, 37.6 koz Au, 692.8 koz Ag, 2.3 Mlb Pb), an inferred mineral resource on the Rainbow deposit of 1.28 Mt grading 2.95% CuEq containing 83.4 Mlb CuEq (72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 Koz Ag, 0.8 Mlb Pb) and an inferred mineral resource at the Pine Bay deposit of 1.0 Mt grading 2.62% Cu containing 58.1 Mlb Cu (see news release dated July 10, 2023). The second asset in the portfolio is the Nash Creek Project located in the VMS rich Bathurst Mining District of New Brunswick. A 2018 PEA generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax) at $1.25 Zinc (see news release dated May 14, 2018). The third asset, 100% owned Point Leamington Deposit in Newfoundland, is located in one of the richest VMS and Gold Districts in Canada. Callinex prepared a pit constrained Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq (145.7 koz gold, 60.0 Mlb copper, 153.5 Mlb zinc, 2.0 Moz silver, 1.5 Mlb lead), a pit constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq for 986.5 koz AuEq (354.8 koz gold, 110.2 Mlb copper, 527.3 Mlb zinc, 6.2 Moz silver, 7.0 Mlb lead) and an out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq for 168.5 koz AuEq (65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz Ag, 2.6 Mlb lead) (see news release dated October 25, 2021).
For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
E-mail: info@callinex.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 the proposed drill program 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.
Posted on January 18, 2024
flemsnopes
3 years ago
Callinex Announces Soil Sampling Results to Follow-up on Silver Discoveries at the Nash Creek Project in Bathurst Mining District, New Brunswick
Highlights:
Seven areas have been identified from elevated silver, lead and zinc soil anomalies along the controlling Fault that’s associated with the recently announced silver discoveries;
Drill hole NC20-313 intersected 28.6m of 57 g/t silver including 16.5m of 94 g/t silver and NC19-306, located 6.8 kms to the south, intersected 19m of 36.53 g/t silver, 0.52% lead and 0.38% zinc; and
A drilling campaign is being planned to follow up on the seven target areas identified from the soil sampling campaign.
Vancouver, British Columbia – January 11, 2021 – Callinex Mines Inc. (the “Company” or “Callinex”) (TSXV: CNX) (OTC: CLLXF) is pleased to announce results from the soil sampling campaign (the “Campaign”) at its 100% owned Nash Creek Project (the “Project”) located within the Bathurst Mining District of New Brunswick (See Figure 1).
Callinex’s technical team has identified seven new target areas based on elevated, silver, lead, and zinc soil anomalies that cover over 10 km of the southern portion of the 18 km Black Point Arleau Brook Fault (the “Fault”). The Fault is spatially associated with two previously announced silver discoveries located 6.8 km apart (See Figure 2). Drill hole NC20-313 intersected 28.6m of 57 g/t silver at a vertical depth of 120m including 16.5m of 94 g/t silver and NC19-306 which intersected 19m of 36.53 g/t silver, 0.52% lead and 0.38% zinc at a starting depth of 34.0m
https://callinex.ca/callinex-announces-soil-sampling-results-to-follow-up-on-silver-discoveries-at-the-nash-creek-project-in-bathurst-mining-district-new-brunswick/
MemoryLeaks
7 years ago
I got in on this today. Anyone active on this? Reason for today's pop is futuremoneytrends sent out an email on the company. Copy of the email is listed below.
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1, 2, 3, Maybe Even 4 Grand Slams
From This Tiny Canadian Zinc Stock!
“The mineral exploration business is one of the few types in the world that can give you 100-baggers… Those are stocks that increase 100-fold – not 100%.” -Rick Rule of Sprott Global
Time Sensitive Stock Suggestion: Callinex Mines (TSXV: CNX)
Dear Reader,
I couldn’t be happier with this early pick. After Max Porterfield became the CEO in 2014, we quickly began coverage for what was a pure exploration play at the time.
The stock is up 70% since our coverage began, and it has been up as much as 244%.
Last year, the stock began to get covered by several top names in the resource sector, as well as obtaining a massive investment by Rick Rule and the Sprott group.
They bought shares at CAD$0.50. Today, we can buy shares for $0.34.
Most companies have a single flagship asset, but with Callinex, they are advancing four projects forward all at the same time.
Any one of these could give the company a 10x move in its share price!
Right now, we are awaiting drilling results from both the Nash Creek and Superjack projects, which are likely to be released in September!
Most recently, the company increased its land package at their Nash Creek project.
Callinex Mines is also drilling again at their Pine Bay project. This is the one that Rick Rule told me he was focused on and the reason he decided to become a significant shareholder.
The company has one of the best zinc portfolios in the world, in my opinion, and they are all in close proximity to major mining giants in Canada.
HudBay, who will soon be out of ore at its 777 Mine, is a property that is neighbors with Callinex projects.
Investors looking at zinc making a 10-year high need to understand that this is the 1st inning of a violent bull market ahead.
The supply destruction for zinc is like nothing we’ve ever seen before.
It’s not going to correct for a long time. Projections going out as far as 10 to 15 years show that the supply deficit is only widening!
Now is the time to take core positions in the zinc market, and Callinex Mines is one that we highly suggest you partner with.
Recommendation: Consider shares of Callinex Mines (TSXV: CNX & US: CLLXF).
I’ll have a special update for you this week with CEO Max Porterfield.
I am a long-term shareholder of this company and expect to see fireworks from them in 2017 and 2018.
I can’t imagine this stock not being bought out by a major soon after any positive drill results come in from their top-tier projects. These billion-dollar giants are starving for zinc, and Callinex has the potential to hand them a portfolio of zinc assets in spades!
Best Regards,
Daniel Ameduri
President, FutureMoneyTrends.com
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