VANCOUVER, Feb. 25 /PRNewswire/ - Callinan Mines (TSX.V: CAA) ongoing exploration program at Gossan Hill has intersected gold mineralization in each of 12 holes for which assay results have recently been received. The best results, in hole GOS 25, grade 9.73 grams of gold per tonne, and 6.91 grams of silver per tonne over a width of 5.75 meters. The gold intersection in DDH GOS 25 included a width of 3.35 meters grading 15.80 grams of gold per tonne, and 10.87 grams of silver per tonne. Diamond Drill Holes GOS 25 and GOS 26 have successfully established the mineralized structure below the 200 meter level. The zone of mineralization still remains open on strike and down dip. Please see the table below:
|from (m)||To (m)|| Core Width
|Au (g/Mt)||Ag (g/Mt)|
True widths are approximately 60% of core widths.
The gold and silver mineralization at Gossan Hill is strongly associated with sulphide mineralization (pyrite, chalcopyrite and galena) within quartz carbonate veining adjacent to a sheared intrusive / volcanic contact zone. Interpretations of mapped geology indicate that the structure has a strike length of at least two kilometers. One diamond drill continues to test the zone of mineralization with 4,903 metres (29 drill holes) completed to date.
Callinan has acquired a 100% interest in 6,269 hectares of the Gossan Hill Property by staking. The company can earn 100% of an additional 4,345 hectares, subject to a 2% NSR, 50% of which is recoverable, under a three year option agreement. Callinan 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. Callinan 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, Mike Muzylowksi Mike Muzylowski All of Callinan's exploration programs are conducted under the direction of J.J. O'Donnell, P.Geo ,Vice President of Exploration for Callinan and 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 Callinan Mines Ltd.