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Callinex Mobilizes Drill To Coles - Troitsa Property

Stocks in this article: CNX

VANCOUVER, July 31, 2012 /PRNewswire/ - Callinex Mines (CNX - TSX.V) (CLLXF - OTCQX) has mobilized drilling crews to its wholly owned Coles & Troitsa properties in Northern British Columbia near Houston.

The Coles Creek property, where previous drilling has intersected silver-lead-zinc mineralization hosted in a volcanic debris flow, will be tested for extensions and sources of known silver, zinc and gold mineralization. Grades up to 175.8 g/t silver and 2.11% zinc over 11.7 meters were intersected as part of last summer's drill program (see company news release November 25 th, 2011). Geochemical testing has identified targets in the vicinity of the known mineralization, which will be drill tested as part of this summer program.

The adjacent Troitsa property hosts a porphyry-style copper target.  A 2011 program produced eight diamond drill holes exhibiting visible copper in the form of chalcopyrite and boronite. The most significant intersection from the 2011 program measures 82.06 meters in core length and grades 0.326% copper, 0.015 g/t gold, and 1.943 g/t silver (see company news release November 16 th, 2011.) The hole was collared in mineralization. Induced polarization geophysics have identified possible extensions to the known mineralization, which will be drill tested as part of this year's program.

The program will also consist of an extended airborne geophysical survey, additional surface sampling, mapping and prospecting. The Coles and Troitsa properties are located near the operating Huckleberry Mine, a copper and molybdenum deposit operated by Imperial Metals. The drill program is part of an extended, discovery-oriented exploration campaign currently being executed by Callinex. Callinex will be drilling four of its highly prospective properties over the coming six months, in an effort to give investors and shareholders exposure to new Canadian mineral discoveries.

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