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Callinex Mines Inc. reports mineral exploration developments across Canadian copper, gold and volcanogenic massive sulphide projects. Recent company updates center on the Pt. Leamington Project in central Newfoundland, including exploration planning, drill-target generation, deposit expansion work and technical oversight for a copper-gold-zinc-silver VMS system.
News also covers the formation of Osawi Gold Corp. as a wholly owned subsidiary for the Manitoba gold portfolio, including the Gossan Hill and Island Lake gold projects. Other recurring themes include board and technical-team appointments, community and First Nations engagement initiatives, corporate identity updates and private-placement financing activity tied to the company’s exploration strategy.
Callinex Mines has announced the completion of its 2022 drilling campaign at the high-grade Rainbow deposit, achieving over 42,000m of drilling across 82 holes since its discovery in 2020. The final results revealed significant intersections, including 10.40m of 3.97% Copper Equivalent in drill hole PBM-180. The company is eagerly awaiting a maiden NI 43-101 resource estimate expected in Q2 2023. The Rainbow deposit is notable for its potential for further expansion and its proximity to existing infrastructure, highlighting its strategic location for future development.
Callinex Mines Inc. (OTCQX: CLLXF) has issued its year-end letter to shareholders, expressing gratitude for their support and outlining the company’s achievements and future plans. In 2022, the company focused on the Rainbow Deposit, completing over 42,000 meters of drilling, which sets the stage for a maiden resource estimate. The company discovered the Alchemist Deposit and plans to explore additional targets at the Pine Bay Project. Callinex anticipates significant growth in 2023, driven by rising global demand for base metals amid a tight market and geopolitical changes.
Callinex Mines Inc. (CLLXF) announced impressive drill results from the Rainbow deposit as part of its 2022 exploration campaign. Notable intersections include PBM-177 with 33.67m of 4.29% copper and PBM-178 with 7.40m of 7.06% copper. The ongoing exploration aims to expand the high-grade copper, gold, silver, and zinc deposits at the Pine Bay Project, located near Flin Flon, Manitoba. The company has completed 33 holes totaling 19,840m of drilling, and a maiden resource estimate is anticipated soon, following 12 drill holes pending assay results.
Callinex Mines Inc. has announced the discovery of the Alchemist deposit at its Pine Bay Project, located 16 km from Flin Flon, MB. Drill hole ALC-114 intersected 4.40m of 4.02% CuEq, revealing high-grade copper, zinc, gold, and silver. The Alchemist shows a strike of at least 140m and remains open for expansion. Exploration drilling is also underway at the Odin target area, enhancing the potential for resource growth. This discovery aligns with trends seen in nearby deposits, suggesting robust geological potential in the region.
Callinex Mines Inc. has announced significant progress in its 2022 drilling campaign at the Pine Bay Project, located near Flin Flon, MB. The company has completed 21 drill holes, totaling 12,950 meters, focusing on the high-grade copper Rainbow Deposit. A resource estimate compliant with NI 43-101 is anticipated. A second drilling rig has commenced testing three of five new target areas. Assays for all holes drilled are pending, highlighting ongoing exploration and development efforts in this promising mining district.
Callinex Mines Inc. has initiated its 2022 drilling campaign at the Pine Bay Project, located near Flin Flon, Manitoba. The campaign aims to define the high-grade copper Rainbow Deposit and explore several new targets, covering a fully funded 20,000-meter drilling program. One rig will continue with the Rainbow Deposit's drilling to prepare for a 43-101 resource estimate, while another rig will assess geophysical targets linked to historic deposits in the area. Additionally, the company has issued stock options at $3.11 per share to its team.
Callinex Mines Inc. has successfully closed a non-brokered private placement, raising C$6.24 million aimed at funding the drill campaign at the Rainbow Deposit in Manitoba. The offering included HD Units priced at C$3.11 and FT Units priced at C$5.00. The funds will support ongoing exploration efforts and contribute to a 43-101 resource estimate for the high-grade deposit. The issued securities are subject to resale restrictions until August 22, 2022, and a finder’s fee of $167,165 was paid as part of the offering.
Callinex Mines Inc. (OTC: CLLXF) has announced an increase in its non-brokered private placement from C$4.22 million to C$6.24 million due to strong demand. The funds will support ongoing drilling at the Rainbow Deposit in Pine Bay, Manitoba. The private placement includes up to 453,446 hard dollar units priced at C$3.11 each and 966,000 flow-through units at C$5.00 each. The Offering's gross proceeds will finance eligible exploration expenses and general corporate costs, with warrants exercisable at C$4.75 for two years.
Callinex Mines Inc. has announced a non-brokered private placement of up to $4.22 million. This funding will be directed towards the ongoing drill campaign at the Rainbow Deposit in Manitoba. The Offering consists of 321,544 hard dollar units priced at C$3.11 per unit and 644,000 flow-through units at C$5.00. Proceeds from the sale of flow-through units will be used for eligible Canadian exploration expenses. The company also highlights significant mineral resources across various projects, including the Pine Bay Project.
Callinex Mines Inc. has identified new exploration targets at its Pine Bay Project in Manitoba, 16km from processing facilities. Drill hole PBM-166 intersected 1.5m of massive sulphides containing copper, zinc, gold, and silver. A subsequent borehole EM survey indicated a 130m x 400m highly conductive anomaly, suggesting a potential continuation of the rock package that hosts the Rainbow deposit. The company plans to immediately test these targets, as their proximity to historic deposits in the Flin Flon area could enhance mineral resource potential.