Callinex starts drilling in Pine Bay, shares up

Callinex Pine Bay project in Manitoba Image from Callinex.

Callinex Mines (TSXV: CNX) announced on Tuesday that it has commenced its 2020 summer drilling campaign at its Pine Bay project in Manitoba.

The campaign will complete up to 1,500m of drilling at the project to test two newly identified Borehole Pulse Electromagnetic anomalies ("BPEM").

The anomalies are interpreted to be off-hole from sulphide stringers that include copper, zinc, gold and silver mineralization and within the known Centennial mine horizon, which hosts the Sourdough VMS deposit and the past producing Centennial Mine, located 4 and 7 kilometres respectively to the south of the untested BPEM anomalies.

Midday Tuesday, Callinex's stock was up 15.5% on the TSXV. The company has a $18.9 million market capitalization.