{"id":1206361,"date":"2020-09-09T11:58:41","date_gmt":"2020-09-09T16:58:41","guid":{"rendered":"https:\/\/www.mining.com\/?p=1035039"},"modified":"2020-09-09T11:58:41","modified_gmt":"2020-09-09T16:58:41","slug":"callinex-shares-jump-on-new-discovery-in-manitoba","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1206361","title":{"rendered":"Callinex shares jump on new discovery in Manitoba"},"content":{"rendered":"

Callinex Mines (TSXV: CNX) announced<\/a> on Wednesday two new high-grade copper, gold, silver and zinc lenses at its Pine Bay project, located 16 km away from Flin Flon, Manitoba.<\/p>\n

The Rainbow discovery hole, PBM-111, intersected 2.96 metres of 3.09% copper, 0.75 g\/t gold, 13.35 g\/t silver, 1.88% zinc and a second interval of 4.31 metres of 4.12% copper, 0.22 g\/t gold, 2.21 g\/t silver, 0.06% zinc.<\/p>\n

The discovery has been made on Callinex\u2019s mineral lease, less than 500 metres from a high-voltage power-line and 800 metres from a historic shaft with direct road access to processing facilities in Flin Flon.<\/p>\n

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Midday Wednesday, Callinex\u2019s stock was up nearly 20% on the TSXV<\/p>\n<\/blockquote>\n<\/figure>\n

Callinex has mobilized a drill to commence a second hole to test a highly conductive off-hole anomaly defined to the north of drill hole PBM-111.<\/p>\n

\u201cThe two high grade copper, gold, silver and zinc lenses discovered, coupled with subsequent borehole survey results, suggest we are at the early stages of a substantial discovery in Manitoba,\u201d Max Porterfield, Callinex president and CEO said.<\/p>\n

The Flin Flon project area covers 2,455 ha with similar geological strata to the main mine horizon that hosts Hudbay\u2019s 777 mine.<\/p>\n

Hudbay’s 777 mine, which began commercial production in 2004 and employs 900 people, is expected to be depleted in 2022<\/a>.<\/p>\n

\u201cThe community of Flin Flon has been through a storm with a great deal of uncertainty about its future with the impending shutdown of the 777 mine. We believe the Rainbow discovery has the potential to provide a bright future for Flin Flon and our shareholders.\u201d said Porterfield.<\/p>\n

Midday Wednesday, Callinex\u2019s stock was up nearly 20% on the TSXV. The company has a C$34 million market capitalization.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

Callinex shares were up 20% after the company announced new high-grade copper, gold, silver and zinc lenses at its Pine Bay project.<\/p>\n","protected":false},"author":110,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"class_list":["post-1206361","post","type-post","status-publish","format-standard","hentry","category-miningcom","tag-exploration"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1206361"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206361\/revisions"}],"predecessor-version":[{"id":1206402,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206361\/revisions\/1206402"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1206361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1206361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1206361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}