callinex mines inc (CLLXF:OTC US)
callinex mines inc (CLLXF) Snapshot
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08/7/12 - $0.46
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04/15/13 - $0.09
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Callinan Mines Inc. engages in the acquisition, exploration, and development of exploration and evaluation assets in the Provinces of Manitoba, Saskatchewan, and British Columbia. It primarily explores for base and precious metals exploration properties covering gold, silver, copper, molybdenum, lead, zinc, and nickel projects. The company was incorporated in 2011 and is based in Vancouver, Canada.
callinex mines inc (CLLXF) Top Compensated Officers
callinex mines inc (CLLXF) Key Developments
Callinex Mines Inc. announced that it has recently completed an exploration program at its wholly owned Gossan Hill property in Manitoba, near the past producing Gurney Gold mine. The drill program was carried-out during the month of March and consisted of six drill holes totaling 1,499m. The program objectives were to test the extent of mineralization along strike on the western (GOS066, GOS067) and eastern flanks (GOS069, GOS070) of the Gossan Hill Zone, and at depth (GOS068). A modeling of data from the 2012 program had indicated that previously drilled GOS056 appeared to have stopped short of the main gold-bearing zone. Consequently, GOS056 was deepened as part of the 2013 program intersecting the main zone for a core width of 3.75 metres, at a grade of 3.41 grams per tonne. The results display good grades over widths amenable to current mining methods. Drill hole GOS067 displays the best result with an interval of 4.70 metres grading 12.99 g/t gold. This interval extends the gold bearing shear zone an additional 50 metres to the west, and suggests further drilling warranted in this area. The deepening of GOS056 (previously thought to have stopped short of the zone) assayed 3.41g/t gold over 3.75 metres. Drill holes GOS069 and GOS070 were drilled at the easternmost extent and show good alteration; however, the altered and mineralized zone was faulted-off. The gold mineralization is observed within a shear zone at the contact between mafic volcanics and intrusive rocks with intense quartz veining. Alterations consist of carbonate, sericite and epidote. The gold mineralization is associated with pyrite and pyrrhotite and varies from fine-grained disseminated to blebby coarse-grained.
Callinex Mines announced that it has begun a drilling campaign on its Gossan Hill gold project in Northern Manitoba near Cranberry Portage. This, the third drill program on the property by Callinex, is designed to build on the success encountered in the 2012 drilling program. The mineralization has been defined by 64 diamond drill holes over 2 drilling seasons to date. Highlights of the previous campaigns conducted by the company included hole GOS28, which returned a core width of 5.94 g/mT gold over 14.77 metres. Diamond drill hole GOS33, which intersected 19.88 g/mT gold over 2.45 metres of core width. The objective of the current drill program will be to expand the zone at depth and along strike. The gold and silver mineralization at the Gossan Hill project is located along a 2 kilometer shear zone. The southernmost end of the shear-zone is the home of the previously producing Gurney Gold Mine. The historic Manitoba mine produced 28,045 ounces of gold from 94,650 tons of ore milled, according to records obtained through the Manitoba Department of Energy and Mines. The company cautions that work done by previous operators on the Gurney Gold Mine property was conducted before the implementation of National Instrument 43-101. Quality control methods by the previous operators are unknown, and the accuracy of the information cannot and should not be relied upon.
Callinex Mines Inc., Annual General Meeting, Apr 03, 2013., at 10:00 Pacific Standard Time. Location: offices of Boughton Law Corporation, 700 - 595. Agenda: To receive and consider the report of the directors and the financial statements of the company together with the auditor's report thereon for the financial period ended September 30, 2012; to fix the number of directors at five; to elect directors for the ensuing year; to appoint the auditors for the ensuing year; to authorize the directors to fix remuneration to be paid to the auditors; to approve and ratify the company's 2013 Stock Option Plan; and to transact such further or other business as may properly come before the meeting and any adjournments thereof.
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