VANCOUVER, April 25, 2014 /PRNewswire/ - Callinex Mines Inc.
(CNX-TSX.V) ( CLLXF – OTCQX) is pleased to announce that the third
diamond drill hole of their recently completed campaign at their
Neuron graphite property has intersected the highest grade of
graphite mineralization to date, over minable widths.
Assays have confirmed that diamond drill hole NEU003 contains a
4.10 meter section grading 60.38% carbon graphite, which is part of
a larger 56.00 meter intersection grading 5.91% carbon
graphite.
The mineralized zone in NEU003 begins only 17.20 meters below
surface, consisting of disseminated to solid mineralization in
various concentrations, to a depth of 117.5 meters. The hole was
drilled 20 metres from recently reported diamond drill holes NEU001
& NEU002, oriented at 102° and dipping at -70°. With the
benefit of this intersection, Callinex' exploration team will be
able to model the strike and dip of the rich graphitic intervals,
and better delineate the orientation of the horizon.
Company Chairman and CEO Mike
Muzylowski expressed satisfaction with the continuing
emergence of this structure: "What we have uncovered here at Neuron
appears to be unique. The high carbon content, coupled with large
flake size is exactly what we had hoped for when we staked this
area. The mineralization appears to be shallow and gently
dipping."
The Neuron Property is located in Northern Manitoba near Thompson. A hydro-electric dam operated by the
Manitoba Government is on the company's mineral tenure, and 220 kV
power lines run the length of the 43,000 hectare property. As
previously reported, preliminary analysis of the project's
mineralogy by SGS labs determined that the mineralization occurs in
coarse polycrystalline aggregates and layers, forming fine to
coarse flakes ranging from 100 μm (micrometres) to 2 millimetres.
Results from tests designed to suitably determine the liberation
characteristics of the material are forthcoming.
Table 1 illustrates the most significant sections of NEU003.
|
DDH
|
From (m)
|
To (m)
|
Width
|
Cg%
|
|
NEU003
|
17.20
|
22.00
|
4.80
|
4.49
|
|
NEU003
|
24.90
|
30.90
|
6.00
|
4.27
|
|
NEU003
|
61.50
|
117.50
|
56.00
|
5.91
|
|
Including
|
61.50
|
65.60
|
4.10
|
60.38
|
|
Including
|
61.50
|
73.50
|
12.00
|
21.36
|
The drilling program was carried-out from late February to early
April and consisted of 12 drill holes totaling 2,226 metres.
Drilling successfully identified graphite mineralization in 10 of
12 drill holes. The zone of mineralization remains open along
strike and down dip. The graphite mineralization textures vary from
stringer to near solid. Mineralization occurs near surface in
quartz-biotite schist.
Logging and sampling of the core has recently been completed at
a company facility, and samples are being shipped to SGS labs in
Lakefield, Ontario for assay and
mineralogy work. Assays from additional drill holes and results
from metallurgical work are forthcoming.
Callinex Mines maintained a QA/QC program at all stages of
exploration. Drill core recovery was calculated, measured and
recorded at the Neuron property before being cut and sampled.
Samples were sawed 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. Callinex
QA/QC samples were inserted into the group of samples and shipped
to SGS labs in Lakefield, ON,
where they were crushed, split, pulverized to 250 g samples at 200
mesh and then assayed. The lab employs internal quality
control by assaying pulp duplicates and inserting quality control
standards of predetermined values and a blank sample.
About the Neuron property:
The 43,000 hectare Neuron graphite exploration property was
acquired by staking in 2013. A search of Manitoba government archives confirmed company
Chairman and CEO Mike Muzylowski's
knowledge of historic nickel exploration programs in the area that
had encountered high-grade graphite incidentally. Following
staking, the company conducted a 1,800 kilometer airborne survey
which identified multiple drill targets (see company press release
Jan 08, 2014). This recent
drilling program has tested the first two such targets. Eight
targets remain un-tested.
About Callinex
Callinex is a Canadian mineral exploration company with projects
in the Provinces of British Colombia and Manitoba, Canada. The company's exploration
activities are designed to offer shareholders exposure to the
discovery phase of the mining value cycle.
On Behalf of the Board of Directors,
Mike Muzylowski
Chairman and CEO
The technical information in this release was reviewed and
verified by JJ O'Donnell, a qualified person as defined by National
Instrument 43-101. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) 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 work programs and the timing and amount of
expenditures. Callinex does not assume the obligation to update any
forward-looking statement.
SOURCE Callinex Mines Inc.