2014

Coles Creek Assays Reveal 11.70 Meters of 175 g/t Silver, 0.194 g/t Gold, 2.114% Zinc, 1.521% Lead

VANCOUVER, Nov. 25, 2011 /PRNewswire/ - Callinex Mines (CNX.V) has received assay results from drilling conducted this past summer on its Coles Creek property in northern British Columbia near Houston. The recent assays have further established a known silver-zinc-lead formation containing associated gold values. The 11-hole program was conducted to follow up on the mineral-rich zone of brecciated volcanics discovered in 2009. Using targets sourced through 3D IP geophysics and geochemistry, the drill program was able to intersect the mineralized volcanic horizon, providing a much better understanding of the system, and extending the zone of known silver-zinc-lead mineralization by 300 meters.

The 11.70 meter intersection grading of 175.00 g/t silver, 0.194 g/t gold, 2.114% zinc, and 1.521% lead established in DDH Cole 48, was drilled 94 meters away from COLE 28, which returned 21.25 meters grading 3.368 g/t gold, 15.33 g/t silver and 2.04% zinc. The variation in depth of these two important intersections suggests a steeply dipping mineralized structure, though additional drilling will be needed to ascertain whether the intersections are related.

Assay results from additional diamond drill holes also show silver-zinc-lead values, and traces of gold, indicating that the mineralization is not limited to the implied zone of high grade. The table below outlines the results received to date. Callinex is expecting additional assay results from samples currently being processed by the lab. The table below outlines the results received to date:


HOLE

FROM

TO

Width (m)

Au g/t

Ag g/t

Zn %

Pb%

COLE 28 W1

144.20

297.00

152.80

0.135

7.951

1.071

0.214

incl

187.00

198.50

11.50

0.056

32.740

1.375

1.251

incl

236.50

241.80

5.30

0.221

15.057

4.239

0.146

incl

275.10

296.00

20.90

0.589

19.603

1.981

0.300

COLE 46

assays pending

 

 

 

 

 

COLE 48

61.00

158.00

97.00

0.068

36.913

0.580

0.368

incl

115.00

143.00

28.00

0.141

91.404

1.333

0.956

incl

122.30

134.00

11.70

0.194

175.839

2.114

1.521

COLE 49

27.00

280.00

253.00

0.059

10.179

0.428

0.178

incl

35.00

143.00

108.00

0.038

15.954

0.478

0.243

incl

251.50

258.70

7.20

0.221

9.542

1.382

0.260

COLE 50

42.00

119.60

77.60

0.038

8.328

0.294

0.126

incl

88.00

119.60

31.60

0.045

14.580

0.317

0.164

COLE 51

62.00

474.10

412.10

0.192

7.395

0.874

0.210

incl

354.00

474.10

120.10

0.372

8.103

1.628

0.082

incl

421.50

473.70

52.20

0.730

13.659

2.121

0.154

incl

414.00

427.00

13.00

1.076

32.369

2.553

0.064

incl

458.00

465.50

7.50

2.662

13.080

3.125

0.046

incl

471.50

474.10

2.60

0.447

34.462

7.102

1.112

COLE 52

238.00

480.00

242.00

0.158

2.188

0.699

0.037

COLE 52

432.00

517.60

85.60

0.414

8.421

0.860

0.014

incl

450.50

474.00

23.50

0.838

3.672

1.227

0.011

COLE 53

assays pending

 

 

 

 

 

COLE 54

assays pending

 

 

 

 

 

COLE 55

assays pending

 

 

 

 

 

COLE 56

assays pending

 

 

 

 

 

 

Widths in meters represent core widths. True widths are unknown.

Core samples were sawed on site immediately after being logged by the field Geologist. One half of each sample was catalogued, bagged and sent to Acme Laboratories in Smithers, British Columbia, where they were recorded, crushed, split and pulverized. Samples were then shipped to Vancouver, British Columbia, where they were processed by a multi-element assay by Aqua Regia digestion and Ultratrace ICP-MS analysis, and Fire Assay Au by ICP-ES. Samples that were anomalous and above the detection levels of the previous analytical process were then sent for re-assay. The re-assay is warranted for representative well-mineralized samples and uses the Group 7AR Multi-Element Assay, and Lead collection fire assay 30G fusion-Gravity finish procedure. The process of analysis includes a  QA/QC protocol approved by Callinex, including a pulp duplicate to monitor analytical precision and a reagent blank to measure background levels. The remaining half of the core is stored on site.

About Callinex Mines Inc.:

Callinex Mines was listed on the TSX Venture Exchange in July of 2011 pursuant to a spin-out transaction. The company consists of the former exploration division of what is now Callinan Royalties. The company is dedicated to the exploration and development of mineral properties in Canada.

On Behalf of the Board of Directors,

Mike Muzylowski

Mike Muzylowski

All of Callinex'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.

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.



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