VANCOUVER – A detailed geochemical sampling program has been completed on Callinan Mines / Bell Resources’ joint ventured Fox River Project in Northern Manitoba.
The program was designed to test areas located by the company’s 2006 VTEM airborne survey as targets prospective for base and precious metal content.
Seven of the twelve test areas produced anomalous results indicative of underlying geological formations containing nickel, copper, cobalt, platinum, palladium and gold. These indications have reinforced the joint venture’s hypothesis that the large sulphide bodies present in the ultramafic host rock at Fox River may contain base and precious metals.
The field work for the mobile metal ion (MMI) geochemical survey was conducted by Dr. Mark Fedikow this past spring. Dr. Fedikow, a renowned expert in the field of geochemistry, outlined areas of possible gold mineralization previously unknown to the company in addition to indications of base metal mineralization consistent with the joint venture’s working geological model.
President Mike Muzylowski was very excited upon learning of the MMI results.
“This will certainly expedite our winter drill program. MMI surveys are often useful drill targets, and the fact that these lines are coincident with anomalies isolated by the VTEM survey makes them especially exciting.”
Details of the MMI survey are available at www.callinan.com/foxriver.
About Fox River:
The Fox River mineral license consists of 186,383 hectares northwest of the Fox River sill. The property is postulated to be a structural extension of the Thompson Nickel Belt, host of dozens of high grade nickel mines.
An airborne VTEM survey conducted in the winter of 2006 / 2007 isolated numerous large bodies of conductivity and magnetism that have been classified by the joint venture as potential base and precious metal bearing sulphide structures. Many of these anomalous areas measure several kilometers in strike length.
On Behalf of the Board,
For more information on the Fox River project or Callinan Mines, Please contact Braden Maccke (604) 605-0885
The Fox River Project is being conducted under the supervision of Pat Deveaux, a Qualified Person as defined by NI 43-101, who has reviewed and approved the content of this release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The news release includes certain “forward-looking statements.” All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results and future plans and objectives of Callinan Mines Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Callinan’s expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.