VANCOUVER, Jan. 5 /PRNewswire/ - Callinan Mines (TSX.V-CAA) is pleased to provide
an update on assays results received from its Gossan Hill Gold
Property. Six of the fourteen diamond drill holes completed to date
have returned mineralized intersections bearing gold
mineralization. Assay work is still being conducted on mineralized
intersections from the 8 remaining holes of the 14 hole drill
program. This early stage of the Gossan Hill program has defined a
mineralized gold and silver horizon along 100 metres of strike, and
to a vertical depth of 200 metres, based on 25 to 50 metre drill
hole spacing. The gold mineralization at Gossan Hill is open in all
directions. The company is encouraged by these strong results, and
plans to continue drilling this month.
All holes to date have returned significant gold values with
encouraging widths. Hole GOS-05 encountered a gold bearing quartz
vein adjacent to a sheared intrusive / volcanic contact which
returned 3.65 g/mt gold and 10.05 g/mt silver over 13.65
metres (including 7.92 g/mt gold and 20.21 g/mt silver over 2.9
metres) at a vertical depth of 90 metres from surface.
Mike Muzylowski, President and
CEO of Callinan Mines, stated "We
are excited about the initial results of the program. Our drilling
program was designed to test of the continuity and characterization
of gold mineralization at the Gossan showing with a series
of tightly spaced drill-holes. These assays show that the gold
bearing structure is wide enough to warrant further testing. We are
very pleased with these results, and expect to continue extending
the horizon with further drilling."
The following table details the highlights of the six holes for
which assay results have been received.
Hole |
From (m) |
To (m) |
Width (m) |
Gold (g/mt) |
Silver(g/mt) |
GOS-02 |
70.90 |
91.15 |
20.25 |
1.96 |
6.76 |
incl |
74.76 |
75.70 |
0.94 |
10.70 |
23.18 |
|
83.70 |
90.70 |
7.00 |
3.11 |
6.03 |
|
87.45 |
90.70 |
3.25 |
4.33 |
4.20 |
|
|
|
|
|
|
GOS-03 |
54.88 |
71.10 |
16.22 |
3.04 |
18.47 |
incl |
58.90 |
60.14 |
1.24 |
13.77 |
57.68 |
|
58.90 |
70.33 |
11.43 |
3.56 |
16.00 |
|
|
|
|
|
|
GOS-04 |
40.73 |
44.94 |
4.21 |
2.06 |
6.30 |
|
|
|
|
|
|
GOS-05 |
79.70 |
82.32 |
2.62 |
1.67 |
8.69 |
GOS-05 |
96.65 |
110.30 |
13.65 |
3.65 |
10.05 |
incl |
99.10 |
102.00 |
2.90 |
7.92 |
20.21 |
|
|
|
|
|
|
GOS-06 |
56.22 |
65.12 |
8.90 |
1.54 |
6.11 |
incl |
61.25 |
65.12 |
3.87 |
2.24 |
14.05 |
|
|
|
|
|
|
GOS-07 |
59.60 |
65.52 |
5.92 |
1.62 |
2.61 |
incl |
63.86 |
65.52 |
1.66 |
3.31 |
4.70 |
|
|
|
|
|
|
(i) True widths are approximately 60% of drill interval.
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The program to date has consisted of 14 drill-holes totaling
2,004 metres.
Callinan can acquire a 100% interest in the 10,614 hectare
Gossan Hill Property, subject to a 2% NSR under a 3 year option
agreement with two different vendors.
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
of each sample being kept for storage and the other half placed in
a pre-labeled plastic bag, tagged with the sample number and
recorded in the log. Callinan QA/QC samples (blanks and standards)
were inserted into the group of samples and shipped to Acme
Analytical Laboratories in Vancouver,
BC, where they were crushed, split, and pulverized to 250 g
samples at 200 mesh. Pulp samples were then assayed by Aqua Regia
digestion ICP-ES analysis (24 elements) and assayed for gold and
silver by fire assay method. The lab employs internal quality
control by assaying pulp duplicates and inserting quality control
standards of predetermined values and a blank sample.
As drilling continues at Gossan Hill, Callinan will
simultaneously conduct a 3,000 metre diamond drilling campaign at
their Herblet Lake property, near Osborne Road in Snow Lake, Manitoba. The program will test
targets along the same geological structure that hosts the formerly
producing Osborne and Anderson
Mines. Drill targets have been established by airborne
geophysical surveys, and surface trenching. Surface operations this
past summer uncovered numerous areas mineralized with sphalerite
and chalcopyrite.
On Behalf of the Board of Directors,
Mike Muzylowski
Mike Muzylowski
All of Callinan's exploration programs are conducted under
the direction of J.J. O'Donnell,
P.Geo, a qualified person as defined by national instrument 43-101,
who has reviewed and approved the contents of this release.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy 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 n. 5 PR Newswire