Callinex Begins Winter Drill Program In Manitoba, Announces Changes To Board Of Directors
VANCOUVER, Dec. 4, 2012 /PRNewswire/ - Callinex Mines (TSX.V-CNX) (OTCQX-CLLXF) has begun drilling on its Sneath Lake claims in the Snow Lake region of Northern Manitoba, and is currently mobilizing a second drill to its Moak Lake Project in Thompson, Manitoba.
Sneath Lake
The Sneath Lake Project is a 1,400 hectare claim block is located 6 kms away from HudBay Minerals Inc.'s Lalor Lake Mine, which began production in 2012. Three deep targets have been defined by Callinex, using a high energy Deep Penetrating Electro Magnetic Survey (DPEM) which is able to define anomalies at depths greater than 500 metres. HudBay Minerals Inc. ("HudBay") has reported that its Lalor Lake Mine contains mineral reserves of more than 14 million tonnes of 0.6% Copper, 6.96% Zinc, 1.86g/t Gold, and 23.55g/t Ag (reference is made to HudBay's press release, dated April 02,2012 entitled "Hudbay Announces Increases in Metals Reserves and Resources"). .The mineralization at Lalor was originally encountered at a depth greater than 500 metres, utilizing the DPEM system (reference is made to HudBay's press release dated March 20,2007 entitled "HudBay's First Lalor Lake Drill Hole Intersects Zinc"). Although much drilling has been conducted at Sneath Lake, no drilling is known to have extended below 500 metres in depth, and Callinex's Deep Pulse EM survey is the first known to have been used on the claims.
Moak Lake
The company is also in receipt of drilling permits for their Moak Lake program in the Thompson Region of Manitoba. The 425 hectare Moak Lake claim is located 30 kms north of the town of Thompson and 75 kms east of Nelson House, Mb. The area has been explored for nickel since the 1950s with varying degrees of success. An examination of public assessment records filed with the Manitoba government has shown that geological formations prospective for nickel sulphides exist at the Moak Lake claims. Through interpretation of an airborne electromagnetic survey (conducted by the company), Callinex' exploration team has defined four drill targets, which will be tested as part of this year's program. The company will also perform geophysical surveys, both on surface and borehole based, to further define targets. Changes to Board of DirectorsSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
