VANCOUVER, Dec. 9 /PRNewswire/ - Callinan Mines (TSX.V-CAA) is pleased to provide
an update on its ongoing exploration activities.
Troitsa Property
The company has recently received assays of surface samples and
grab samples obtained during the exploration program conducted this
summer on the recently optioned Troitsa property in Northern British Columbia near Houston. Assays from the samples taken
successfully confirmed the presence of copper, gold, silver and
molybdenum mineralization associated with a granodiorite porphyry
intrusion. Grab samples with gold values as high as 7 g/mt were
taken from the intrusive rock, the average grade being 0.3 g/mt of
gold. Silver values as high as 230 g/mt were also recovered, with
the average grade being 20 g/mt. Molybdenum values in grab samples
ranged from 0.08% to 0.2% with the average grade being 0.03%.
Zinc, silver and lead mineralization was also present in the
volcanic rocks that surround the intrusion. Samples taken from up
to 1.3 km surrounding the granodiorite porphyry returned assays
averaging 0.3% lead, 0.4% zinc, and 37 g/mt silver. High silver and
zinc values were 230 g/mt and 1%, respectively.
The Troitsa Option, located to the west of and adjacent to
Callinan's wholly owned Coles Creek Property, was acquired by
option in June of 2010. The property consists of 17 mineral claims
totaling 4,746 hectares, and is known to host several zones of
mineralization. Drilling conducted by previous operators, prior to
NI 43-101 standards, shows values of 1.02% Cu over a true width of
21.3m including 1.49% Cu over 12.2m.
Callinan's technical team is interpreting these results as
confirmation of the great potential that was identified at Troitsa
prior to optioning the property. A drilling program is being
outlined and will likely be implemented in the summer 2011
exploration season.
Coles Creek
Samples from the drilling program conducted on the adjacent
Coles Creek property, are still being assayed and evaluated. The
program consisted of 20 diamond drill holes in a sulphide-bearing
volcano-sedimentary structure. One such hole, COLE 28, intersected
a 21.25 meter section grading 3.368 g/mt gold, 15.33 g/mt silver,
2.04% zinc and 0.15% lead. Assays from 6 drill holes are still
being analyzed.
Gossan Hill
The first hole completed on Callinan's Gossan Hill Project,
located near the community of Cranberry
Portage, MB., intersected 3.71g/mt gold and 33.33g/mt silver
over a core length of 5.43 metres, at a depth of 49.82 meters,
continuing to a depth of 55.25 meters. A second intersection
averaged 2.69g/mt gold and 39.64 g/mt silver over 2.09 metres at a
depth of 61.93 meters, continuing to a depth of 64.02 meters. To
date, 14 holes have been completed for a total of 2,004 metres.
Assays from the remaining 13 diamond drill holes have yet to be
received. Drilling has concentrated on the central Gossan Hill
Showing, which is one of four historical showings on the property.
A 5 kilometer linear trending silicified shear zone has been
identified from reports filed from previous
operators. Drilling will resume in early January, once wet
areas have frozen, improving access.
Callinan Mines maintained a QA/QC
program at all stages of exploration. Drill core recovery was
calculated, measured and recorded at the Gossan Hill Property
before being cut and sampled. Samples were split in half, one half
being kept for storage and the other half placed in pre-labeled
plastic bags, tagged with the sample number and recorded in the
log. Callinan QA/QC samples (blanks and standards) were inserted
into the group of samples, then shipped to Acme Analytical
Laboratories in Vancouver, BC,
where they were crushed, split, pulverized and sieved into
approximately 15 g samples at 200 mesh. Samples were then assayed
by Aqua Regia digestion ICP-MS analysis (53 elements). The lab
employs internal quality control by assaying pulp duplicates and
inserting quality control standards of predetermined values and a
blank sample.
All of Callinan's exploration programs are conducted under
the direction of Pat Deveaux, P.Geo,
a qualified person as defined by national instrument 43-101, who
has reviewed and approved the contents 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 private
placements and the timing and amount of expenditures. Callinan does
not assume the obligation to update any forward-looking
statement.
SOURCE Callinan Mines Ltd.
Copyright c. 9 PR Newswire