Callinan Mines Limited: Assays Reveal New Mineralization at Coles Creek
January 09 2008 - 1:59PM
Marketwired
VANCOUVER, BRITISH COLUMBIA has received assays from the 2007
drill program performed on the Coles Creek property near Houston,
BC.
Results from the drill program expanded the Company's
understanding of the multi-phase porphyry system, and also yielded
new information about a previously unknown system of silver, lead
and zinc mineralization in a volcanic host rock.
Hole COLE-09, drilled to test the porphyry mineralization
encountered in the 2006 drill program, returned an average of
0.313% Cu, 0.004% Mo, and 0.21 g/t Au over 53 meters from a depth
of 317 meters to 370 meters. The Company plans to continue to
explore the extent of this porphyry system in upcoming
programs.
A newly discovered silver-zinc-lead system in a polymodal
volcano-sedimentary breccia conglomerate, south-east of the known
porphyry system, produced anomalous mineralized intercepts. Hole
COLE-15, collared in the mineralized zone, returned a width of 86.2
meters with an average grade of 4.83 g/t Ag, 0.28% Zn and 0.072% Pb
from a depth of 33.8 meters to 120 meters. COLE-16, in the same
type of volcano-sedimentary flows, returned an average of 3.85 g/t
Ag, 0.361% Zn and 0.073% Pb over 37.5 meters, from a depth of 50
meters to 87.5 meters. All assays were performed by Acme Analytical
Laboratories of Vancouver, BC.
President Mike Muzylowski expressed that, "There is much more
exploration to be carried out to determine the extent of the copper
mineralization. Additionally, it appears that anomalous values of
silver, zinc and lead could represent a vast basin-like feature.
Further testing is necessary to determine the significance of this
discovery."
A total of 2,644 meters of drilling was completed in 8 holes
before the program was halted due to heavy snow fall. Three of the
8 holes completed returned no significant values. Assays from two
holes have yet to be returned.
On Behalf of the Board of Directors,
Mike Muzylowski
All of Callinan's exploration programs are overseen by Pat
DeVeaux, a qualified person as defined by National Instrument
43-101 who has reviewed and approved the contents of this
release.
The TSX Venture exchange has not reviewed and is not responsible
for the adequacy or accuracy of this release.
Contacts: Callinan Mines Limited Braden Maccke (604) 605-0885
(604) 605-0886 (FAX) Email: investors@callinan.com Website:
www.callinan.com