VANCOUVER (miningweekly.com) – Base metals-focused Callinex Mines has reported a substantial resource increase at the near-surface Nash Creek deposit, in New Brunswick’s Bathurst Mining Camp.
The Canadian National Instrument 43-101-compliant indicated resource rose 74% over prior estimates to 963-million pounds of zinc equivalent, and inferred zinc equivalent pounds have increased by 385%, to 407-million pounds.
"These results confirm our belief that the Nash Creek project represents a compelling exploration and development opportunity, given extensive near-surface zinc mineralisation, coupled with the excellent nearby infrastructure. Furthermore, the initial success from our 2017 drilling campaign demonstrates the potential to rapidly expand the Nash Creek zinc deposit, which remains open in multiple directions,” president and CEO Max Porterfield advises.
Nash Creek is a sulphide deposit hosted within the Early Devonian Dalhousie Group volcanics and volcaniclastic bedrock units. It comprises two main zones – the Hickey zone, located to the north and the Hayes zone, located to the south.
The mineralisation occurs at surface in the Hayes zone and extends for about 2.1 km along strike, where mineralisation consists of sub-horizontal mineralisation, which is interpreted as a series of vertically stacked horizons within the Hickey zone. The majority of zinc, lead and silver resources within both the Hayes and Hickey zones are located 250 m from surface, the company advised.
The current mineral resource comprises 13.6-million tonnes grading on average 3.2% zinc equivalent, which itself grades 2.7% zinc, 0.6% lead and 17.8 g/t silver, for 963-million pounds of zinc equivalent. The inferred resource comprises 5.9-million tonnes averaging 3.1% zinc equivalent (2.7% zinc, 0.5% lead and 14 g/t silver), containing 407-million pounds of zinc equivalent.
The larger Nash Creek project covers several high-grade zinc occurrences over a 20 km long trend within the same geologic setting that hosts the Nash Creek deposit. Callinex pointed out that this “highly prospective” land package has had very little exploration work completed and represents “an exciting opportunity to discover additional zinc-rich deposits in future exploration campaigns”.
Callinex now controls global indicated resources of 13.6-million tonnes averaging 3.2% zinc equivalent for a total of 963-million pounds of zinc equivalent ore and total inferred resources of 23.2-million tonnes grading 5.2% zinc equivalent, for a total of 2.7-billion pounds of zinc equivalent mineralisation from the Nash Creek, Superjack and Point Leamington projects.
Callinex expects to publish a maiden preliminary economic assessment next month that will demonstrate the potential economic viability of a conceptual openpit mine at the Nash Creek and Superjack projects.