Callinex Begins Winter Drill Program in Manitoba, Announces Changes
to Board of Directors
VANCOUVER, Dec. 4, 2012 /PRNewswire/ - Callinex Mines
(TSX.V-CNX) (OTCQX-CLLXF) has begun drilling on its Sneath Lake
claims in the Snow Lake region of
Northern Manitoba, and is
currently mobilizing a second drill to its Moak Lake Project in
Thompson, Manitoba.
Sneath Lake
The Sneath Lake Project is a 1,400 hectare claim block is
located 6 kms away from HudBay Minerals Inc.'s Lalor Lake Mine, which began production in 2012.
Three deep targets have been defined by Callinex, using a high
energy Deep Penetrating Electro Magnetic Survey (DPEM) which is
able to define anomalies at depths greater than 500 metres. HudBay
Minerals Inc. ("HudBay") has reported that its Lalor Lake Mine contains mineral reserves of
more than 14 million tonnes of 0.6% Copper, 6.96% Zinc, 1.86g/t
Gold, and 23.55g/t Ag (reference is made to HudBay's press release,
dated April 02,2012 entitled "Hudbay
Announces Increases in Metals Reserves and Resources"). .The
mineralization at Lalor was originally encountered at a depth
greater than 500 metres, utilizing the DPEM system (reference is
made to HudBay's press release dated March
20,2007 entitled "HudBay's First Lalor Lake Drill Hole
Intersects Zinc"). Although much drilling has been conducted at
Sneath Lake, no drilling is known to have extended below 500 metres
in depth, and Callinex's Deep Pulse EM survey is the first known to
have been used on the claims.
Moak Lake
The company is also in receipt of drilling permits for their
Moak Lake program in the Thompson Region of Manitoba. The 425 hectare Moak Lake claim is
located 30 kms north of the town of Thompson and 75 kms east of Nelson House, Mb. The area has been explored
for nickel since the 1950s with varying degrees of success. An
examination of public assessment records filed with the
Manitoba government has shown that
geological formations prospective for nickel sulphides exist at the
Moak Lake claims. Through interpretation of an airborne
electromagnetic survey (conducted by the company), Callinex'
exploration team has defined four drill targets, which will be
tested as part of this year's program. The company will also
perform geophysical surveys, both on surface and borehole based, to
further define targets.
Changes to Board of Directors
The Company is pleased to announce that President and Chief of
Operations J.J. O'Donnell will take
on the role of Chief Executive Officer from Anna Stylianides at the beginning of 2013.
Management and the board of directors is confident that Mr.
O'Donnell's experience in the Flin
Flon / Snow Lake VMS belt, and familiarity with all aspects
of the mining business make him the very best choice to lead
Callinex going forward.
Additionally, Frank Dembinsky,
Brian Irwin and Anna Stylianides have left the board of
directors. The company thanks them for their years of loyal service
and wishes them well.
On behalf of the Board of Directors,
"J.J. O'Donnell"
J.J. O'Donnell
President, 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. Callinex does not assume the
obligation to update any forward-looking statement.
SOURCE Callinex Mines Inc.