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Last C$0.30 CAD
Change Today +0.02 / 7.14%
Volume 151.8K
CNX On Other Exchanges
As of 3:57 PM 05/6/15 All times are local (Market data is delayed by at least 15 minutes).

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callinex mines inc (CNX) Details

Callinex Mines Inc. engages in the acquisition, exploration, and development of mineral properties in the provinces of Manitoba and British Columbia, Canada. It explores for volcanogenic massive sulfide deposits, copper, gold, graphite, zinc, lead, and nickel. The company primarily focuses on carrying out exploration activities on the Flin Flon and Pine Bay properties located in the Flin Flon Mining area. Its properties also comprise Gossan/Rug claims, Sneath Lake property, Coles Creek property, Fox River property, Moak Lake property, Norris Lake property, the Herblet Lake property, the Island Lake property, and the Pulver Lake property. The company was incorporated in 2011 and is headquartered in Vancouver, Canada.

Founded in 2011

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callinex mines inc (CNX) Key Developments

Callinex Mines Inc. Commences Phase One Drilling Campaign at Pine Bay Project

Callinex Mines Inc. announced it has commenced phase one of the company's two-phase 4,000m drilling campaign at its 100% owned Pine Bay Project located near Flin Flon, Manitoba and adjacent to HudBay's 777 Mine. The first phase consists of approximately 8-10 holes totaling 2,000m with completion anticipated towards the end of March. The objectives of the two-phase drilling campaign at the Pine Bay and Flin Flon projects are to confirm, expand and discover high-grade copper and zinc rich massive sulfide mineralization. The company has outlined several new targets within the vicinity of the Pine Bay deposit. In particular, recent ground geophysical work has identified a new magnetic and electromagnetic conductor between the Pine Bay and Cabin deposits. Compilation work highlighted hole 112, drilled approximately 50m from the target, which intersected three mineralized zones including 1.52m of 9.4% zinc, 1.4 g/t gold and 0.26% copper. The Pine Bay Project is located 16km east of HudBay's 777 Mine and hosts four high-grade VMS deposits. The project is at an advanced permitting stage and includes a 212m vertical shaft with 760m of underground workings nearby historic resources. Callinex has not done sufficient work to classify the historical estimate as a current mineral resource and is not treating the historical estimate as a current mineral resource. The Pine Bay deposit is open at depth beneath 400m and a significant electromagnetic conductor suggests potential for additional mineralization. New data suggests that the Pine Bay deposit plunges to the northeast rather than a continuation of a near vertical plunge, trending towards hole 112 and the Cabin deposit. Historic drilling was based on the previous assumption of a near vertical plunge; as a result the extension of the newly projected plunge is untested. The Pine Bay Project is located 16km east of Flin Flon, MB, and covers approximately 6,000ha. The project includes a mineral lease that allows for the right to operate a mine and covers a 212m vertical shaft with 760m of underground development accessing high-grade copper mineralization. Significantly, a favorable geological trend with coincident geophysical anomalies extends for at least 8 km in a northeast-southwest direction and hosts HudBay's Centennial Mine along with Callinex's Sourdough and Pine Bay deposits. Previous operators reported historic resources totaling 1.62 million tons at a grade of 2.81% Cu Eq. Callinex has not done sufficient work to classify the historical estimate as a current mineral resource, and is not treating the historical estimate as a current mineral resource. The technical content of this technical news release has been reviewed and approved by Christina Taylor, P.Geo, the Company's Project Geologist, and a Qualified Person as defined by National Instrument 43-101.

Callinex Mines Inc. Provides Overview on Exploration Focus and Identifies Targets for Upcoming Diamond Drilling Campaign

Callinex Mines Inc. provided an overview on its exploration targets in advance of phase one of the 4,000m two-phase diamond drilling campaign at its Pine Bay and Flin Flon projects. The company has identified three high-priority target areas, two at the Pine Bay Project and one at the Flin Flon Project. The Company has compiled historic data from more than 400 drill holes and a 75-line km ground geophysical program is underway to assist in identifying, evaluating and prioritizing targets. Drilling is scheduled to commence initially at the Pine Bay deposit where there is potential to expand gold and copper mineralization.

Callinex Mines Inc. Auditor Raises 'Going Concern' Doubt

Callinex Mines Inc. filed its Annual on Jan 26, 2015 for the period ending Sep 30, 2014. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.


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