2014

Gossan Hill Gold Zone Expanded 3.88 g/t Gold over 4.25 Meters

VANCOUVER, May 16, 2012 /PRNewswire/ - Callinex Mines (TSX.V-CNX) (OTCQX - CLLXF) is pleased to report that drill hole samples from their recently completed exploration program at Gossan Hill have successfully extended the main zone of gold mineralization at depth and along strike.  Of particular interest is DDH GOS59, which returned assays of 3.88 g/t gold over 4.25 meters, expanding the main zone at depth and along strike.

Assays received from last winter's program are as follows:

    From   To   Width   Au g/t   Ag g/t
GOS 33   316.60   319.05   2.45   19.88   5.15
incl.   317.47   319.05   1.58   30.37   7.98
incl.   317.47   318.6   1.13   40.75   11.16
GOS 34   394.40   397.30   2.90   1.77   4.97
    473.82   476.21   2.39   3.77   1.27
GOS035   163.15   163.7   0.55   0.96   4.00
GOS 36   152.81   156.78   3.97   2.21   15.94
incl   152.81   155.78   2.97   2.57   21.31
GOS037   Traces                
GOS038   Traces                
GOS039   Traces                
GOS040   Traces                
GOS 41   138.54   139.21   0.67   3.26   0.00
    142.00   144.70   2.70   1.71   0.00
GOS042   Traces                
GOS043   116.10   125.00   8.90   3.02   8.88
Incl.   116.10   118.07   1.97   5.24   9.14
Incl.   122.12   123.39   1.27   9.98   30.66
GOS044   Traces                
GOS045   Traces                
GOS046   109.40   113.42   4.02   1.46   2.14
GOS047   (abandoned)                
GOS048   Traces                
GOS049   144.34   147.00   2.66   1.46   0.96
GOS050   Traces                
GOS051   77.82   80.36   2.54   3.23   31.57
GOS052   145.62   148.24   2.62   0.93   7.69
incl   145.62   146.00   0.38   2.62   53.00
incl.   147.00   148.24   1.24   1.14   0.00
GOS053   285.65   288.63   2.98   3.17   76.51
incl   286.85   287.96   1.11   8.35   197.84
GOS053   362.87   371.84   8.97   1.31   8.75
incl   366.32   369.85   3.53   2.15   2.92
GOS054   242.60   244.72   2.12   1.19   7.56
GOS054   268.31   273.44   5.13   1.78   6.18
incl   268.92   272.20   3.28   2.22   4.02
GOS055   298.58   301.39   2.81   2.78   7.09
incl   299.00   301.39   2.39   3.23   8.33
GOS056   Traces                
GOS057   131.30   146.60   15.30   0.21   9.70
incl   138.33   140.70   2.37   0.62   16.39
GOS058   Traces                
GOS059   369.89   373.54   3.65   0.42   40.36
GOS059   412.57   486.84   74.27   0.89   2.69
incl   450.70   483.87   33.17   1.65   2.16
incl   453.65   459.70   6.05   2.43   3.39
incl   478.12   482.37   4.25   3.88   3.33
GOS060   154.77   155.47   0.70   0.50   0.00
GOS061   256.84   263.35   6.51   1.31   1.45
incl   261.46   263.35   1.89   2.56   4.99
GOS062   268.08   268.88   0.80   1.04   5.00
GOS063   326.60   327.19   0.59   1.07   3.00
GOS064   518.40   521.36   2.96   1.04   0.91
GOS064   544.44   550.84   6.40   1.44   2.85
GOS065   395.00   397.90   2.90   1.07   1.00
GOS065   407.55   409.41   1.86   0.98   0.97

Highlighted holes have been previously reported by the company. Further drilling will be required to establish true widths.

In total, the program consisted of 33 diamond drill holes, drilled to test for mineralization on a quartz vein system controlled by a sheared diorite/volcanic contact. The program expanded on a previous diamond drilling program conducted in the winter of 2011. The program successfully added definition to the Gossan Hill gold zone, while establishing mineralization over 1.8 kilometers of strike length.

Callinex's President and Chief Operating Officer, J.J. O'Donnell, was encouraged by this year's progress at Gossan Hill: "The geology and mineralization is fairly consistent over the 1.8 kilometers," he explained. "Our intention is to establish a viable commercial gold deposit at the Gossan Hill property, and this year's results, are a firm step towards that goal."

Callinex 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. Callinex QA/QC samples 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.

On Behalf of the Board of Directors,

J.J. O'Donnell

J.J. O'Donnell

President and COO

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.

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. Callinan does not assume the obligation to update any forward-looking statement.

 

SOURCE Callinex Mines Inc.



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