VANCOUVER — 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 mineble 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.
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.
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,
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.