Callinex Mines (TSXV: CNX; OTC: CLLXF) has updated the resource at its 100%-owned Point Leamington gold-copper-zinc project in the Buchans mining camp of Newfoundland.
The pit-constrained indicated resource is now 5 million tonnes grading 0.09 gram gold per tonne, 12.2 grams silver per tonne, 0.54% copper, 0.01% lead, and 1.39% zinc. The category contains 2.5 million gold-equivalent ounces.
The inferred portion of the resource, both in-pit and out, is 15.4 million tonnes grading 0.9 gram gold per tonne, 15.3 grams silver per tonne, 0.36% copper, 0.03% lead, and 1.85% lead (2.3 million oz. gold equivalent).
A 2004 exploration campaign expanded a high-grade zinc-gold zone, intersecting 4.7 metres grading 14.05% zinc, 4.37 grams gold per tonne, 57.88 grams silver per tonne, and 0.36% copper in hole PL04-077. Hole PL04-056 intersected 4.5 metres grading 2.27 grams gold per tonne, 8.84% zinc, 81.66 grams silver per tonne, and 0.61% copper. The holes were 150 metres apart.
Callinex purchased the Point Leamington project from Slam Exploration in 2016. At that time, the property had a historical inferred resource of 14.1 million tonnes grading 1.9% zinc, 0.42% copper, 1.07 grams gold per tonne, and 17.1 grams silver per tonne.
The company has now determined that the deposit starts at surface and extends at least 350 metres vertically.