Callinex Mines Stock Price, News & Analysis

Callinex Mines Inc. (OTCQX: CLLXF) is a mineral exploration company focused on advancing a portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. According to multiple company news releases, Callinex is particularly active in projects that host volcanogenic massive sulphide ("VMS") deposits containing gold, copper, zinc, silver and lead.

The company’s portfolio is consistently described as being highlighted by the 100% owned Point Leamington Deposit in Newfoundland, located in what Callinex refers to as one of the richest VMS and gold districts in Canada. At Point Leamington, Callinex has prepared a pit-constrained Indicated Mineral Resource, a pit-constrained Inferred Mineral Resource, and an out-of-pit Inferred Mineral Resource, as outlined in a news release dated October 25, 2021 referenced across several later announcements. The deposit is characterized as a large, felsic-hosted VMS body that dips approximately 70 degrees to the west, with a strike length described in news releases as around 500–560 metres and a maximum thickness of about 85 metres. Massive sulphides have been intercepted to depths of roughly 360 metres below surface in drilling campaigns summarized by the company.

Callinex reports that the Point Leamington Project consists of a mining lease and exploration claims in central Newfoundland, accessible by road and trails from the City of Grand Falls-Windsor and located within reach of the provincial power grid. The company emphasizes that regional government mapping and lithogeochemical sampling indicate that the volcanic stratigraphy hosting the deposit extends beyond the immediate deposit area, which underpins its exploration focus on strike extensions and potential additional VMS lenses at depth and in the footwall horizons.

Beyond Point Leamington, Callinex states that it is permitting the Rainbow deposit at its Pine Bay Project in the Flin Flon Mining District of Manitoba. The Pine Bay Project is described as a rich VMS project located near existing mining infrastructure, including an idle processing facility in Flin Flon, Manitoba, which is noted as being approximately 16 kilometres from the Pine Bay area. Within this project, the Rainbow deposit is repeatedly highlighted as a rapidly expanding copper-rich VMS deposit for which Callinex has prepared an indicated and an inferred mineral resource, including copper equivalent (CuEq) grades and contained metal estimates, as disclosed in a July 10, 2023 news release cited in later communications.

News releases also describe the Pine Bay Project as hosting additional exploration targets such as the Descendent and Poseidon areas. The company reports that drilling campaigns have been designed to test these targets, supported by geophysical methods including magnetotelluric (MT) surveys, borehole electromagnetic (BHPEM) surveys, surface pulse electromagnetic (SPEM) surveys, and airborne electromagnetic (VTEM) surveys. Callinex notes that these surveys have identified resistivity low anomalies and conductive bodies interpreted to be associated with alteration packages and VMS horizons related to the Rainbow and Pine Bay deposits.

In addition to its Newfoundland and Manitoba VMS assets, Callinex consistently references the Nash Creek Project located in the VMS-rich Bathurst Mining District of New Brunswick. The company cites a 2018 preliminary economic assessment (PEA) that generated an internal rate of return (IRR) and net present value (NPV) at a specified zinc price, as disclosed in a May 14, 2018 news release. This PEA is presented by Callinex as evidence of economic potential at Nash Creek within a recognized VMS mining district.

Across multiple announcements, Callinex describes its projects as being situated in established Canadian mining jurisdictions such as Newfoundland and Labrador, Manitoba and New Brunswick. The company highlights support from provincial programs, including a grant through the Newfoundland and Labrador Junior Exploration Assistance (JEA) Program for work at Point Leamington, and notes that exploration permits have been obtained or applied for to allow ground geophysics, diamond drilling, prospecting, geological mapping and geochemical sampling at its key projects.

Callinex also discloses corporate developments related to its asset base. One news release explains that the company formed a wholly owned subsidiary, Osawi Gold Corp., to hold and advance its Manitoba gold exploration portfolio, including the Gossan Hill Gold Project and the Island Lake Gold Project. These projects are described as hosting historic gold production and historical resource estimates, with Callinex emphasizing that such historical data predate National Instrument 43-101 and should not be relied upon as current mineral resources or reserves. The company states that it is evaluating strategic initiatives to create value from these gold assets through Osawi while maintaining its focus on its core VMS portfolio, particularly Point Leamington.

In another development, Callinex announced plans to change its name to Visionary Copper and Gold Mines Inc. and indicated that it anticipated a new TSX Venture Exchange trading symbol "VCG" in connection with this name change. The company explains that the new name is intended to reflect its commitment to creating value through the discovery and development of copper and gold mines across Canada, while recognizing the historical significance of the Callinex name in Manitoba. The news release notes that the name change is subject to acceptance by the TSX Venture Exchange and that the share structure and shareholder rights are unaffected by the change.

Callinex’s communications also mention the appointment of experienced technical advisors and board members with backgrounds in VMS exploration and economic geology. These individuals are described as contributing to the company’s exploration planning and evaluation of the Point Leamington deposit and surrounding land package, as well as providing oversight on regional exploration opportunities and mineralogical and metallurgical testwork related to the deposit.

Overall, based on the available news releases, Callinex Mines Inc. (CLLXF) presents itself as a Canadian-focused exploration company centered on VMS-style base and precious metal deposits, with its principal projects being the Point Leamington Deposit in Newfoundland, the Rainbow and Pine Bay deposits in Manitoba, and the Nash Creek Project in New Brunswick, alongside gold-focused projects held through its Osawi Gold Corp. subsidiary.

Business focus and project portfolio

Point Leamington Project (Newfoundland)
Callinex describes Point Leamington as a large, felsic-hosted VMS deposit with defined pit-constrained and out-of-pit mineral resources containing gold, copper, zinc, silver and lead. The project is accessible by road and trails from Grand Falls-Windsor and is within proximity to the provincial power grid. The company emphasizes that the host volcanic stratigraphy extends beyond the deposit, supporting exploration along strike and at depth, including footwall zones that may host additional mineralization.

Pine Bay Project and Rainbow Deposit (Manitoba)
In the Flin Flon Mining District, Callinex is advancing the Pine Bay Project, which includes the Rainbow deposit and other targets such as Descendent and Poseidon. The company reports that Rainbow has defined indicated and inferred mineral resources expressed in copper equivalent terms, with associated gold, zinc, silver and lead content. Exploration at Pine Bay is supported by modern geophysical surveys and drilling designed to test resistivity and conductivity anomalies interpreted to be associated with VMS systems.

Nash Creek Project (New Brunswick)
Callinex’s Nash Creek Project in the Bathurst Mining District is supported by a PEA completed in 2018, which the company states generated a positive IRR and NPV at an assumed zinc price. This project is positioned within a recognized VMS district and is cited as part of the company’s broader base metals portfolio.

Gold-focused projects via Osawi Gold Corp.
Through its wholly owned subsidiary Osawi Gold Corp., Callinex has grouped its Manitoba gold exploration assets, including the Gossan Hill Gold Project and the Island Lake Gold Project. Company disclosures highlight historical production and historic resource estimates at these properties, while cautioning that such information predates NI 43-101 and is not treated as current mineral resources or reserves. Osawi is also described as emphasizing responsible exploration and engagement with First Nations communities.

Frequently asked questions (FAQ)

• What does Callinex Mines Inc. (CLLXF) focus on?
  According to its news releases, Callinex focuses on advancing a portfolio of base and precious metals rich deposits, particularly VMS-style deposits containing gold, copper, zinc, silver and lead in established Canadian mining jurisdictions.
• What are Callinex’s key projects?
  The company consistently highlights the 100% owned Point Leamington Deposit in Newfoundland, the Rainbow and Pine Bay deposits in Manitoba’s Flin Flon Mining District, and the Nash Creek Project in New Brunswick’s Bathurst Mining District. It also holds gold projects in Manitoba through its subsidiary Osawi Gold Corp.
• Where is the Point Leamington Project located?
  Callinex states that the Point Leamington Project is located in central Newfoundland, approximately 37 kilometres by road and trails from the City of Grand Falls-Windsor and about 20 kilometres from the provincial power grid.
• What type of deposit is Point Leamington?
  Company disclosures describe Point Leamington as a large, felsic-hosted VMS deposit that dips to the west, with a defined strike length and thickness, and massive sulphides intercepted to several hundred metres below surface.
• What is the Rainbow deposit at Pine Bay?
  The Rainbow deposit is a copper-equivalent VMS deposit within the Pine Bay Project in the Flin Flon Mining District of Manitoba. Callinex has prepared indicated and inferred mineral resources for Rainbow, with copper, zinc, gold, silver and lead content disclosed in a July 10, 2023 news release referenced in later announcements.
• How is Callinex involved in gold exploration?
  Callinex formed Osawi Gold Corp., a wholly owned subsidiary, to hold and advance its Manitoba gold exploration portfolio, including the Gossan Hill Gold Project and the Island Lake Gold Project. These projects are described as having historic production and historical resource estimates, which the company does not treat as current NI 43-101 resources.
• What is the significance of the Nash Creek Project?
  The Nash Creek Project in New Brunswick’s Bathurst Mining District is supported by a 2018 PEA that, according to Callinex, generated a positive IRR and NPV at a specified zinc price. This positions Nash Creek as an advanced-stage exploration asset within a recognized VMS district.
• Has Callinex announced a name change?
  Yes. In an August 11, 2025 news release, Callinex announced plans to change its name to Visionary Copper and Gold Mines Inc. and indicated that it anticipated a new TSX Venture Exchange trading symbol "VCG," subject to exchange acceptance.
• In which jurisdictions does Callinex operate?
  Callinex’s projects are located in Canadian provinces that it describes as established mining jurisdictions, specifically Newfoundland and Labrador, Manitoba and New Brunswick.
• How does Callinex describe its exploration approach?
  Company news releases reference the use of modern integrated exploration methods, including airborne and ground electromagnetic surveys, borehole EM, geological mapping, geochemical sampling and diamond drilling to evaluate and expand VMS deposits and associated alteration zones.