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 25th, 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 16th, 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.
On behalf of the Board of Directors,
J.J. O'Donnell
J.J. O'Donnell
President and COO
All of Callinex's exploration programs are conducted under
the direction of J.J. O'Donnell,
P.Geo, a qualified person as defined by national instrument 43-101,
who has reviewed and approved the contents of this release.
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 contemplated work programs and the
timing and amount of expenditures. Callinex does not assume the
obligation to update any forward-looking statement.
SOURCE Callinex Mines Inc.
