Callinex Mines' Pine Bay Project consists of 4550 hectares of mineral claims and mineral leases located just East of Flin Flon, Manitoba, in the Flin Flon Greenstone belt.
The project host several significant mineral occurrences established by previous operators, including a known VMS deposit (Pine Bay). A report sourced from government of Manitoba archives, dated 1970 and completed by Wright Engineers Limited, estimated via polygonal method that the deposit at pine bay contains 667,900 tons grading 3.90% copper at a cutoff grade of 2.0% Cu, 783,000 tons grading 3.54% Cu at a cutoff grade of 1.5% Cu, and 1,113,200 tons grading 2.76% Cu at a cutoff grade of 1.0% Cu. Readers are cautioned that estimates are historic in nature and do not comply with national instrument 43-101. Neither Callinex Mines nor its qualified person have done sufficient work to understand what needs to be done to upgrade or verify the historical estimate. The Company is not treating the historical estimate as current mineral resources or mineral reserves.
Since acquiring the property by way of option in July of 2009, Callinex has conducted both regional airborne and follow up ground based electromagnetic geophysical surveys, isolating drill-ready targets. A small drill program was initiated in 2011 to test the down-plunge extension of the Pine Bay Deposit. The two completed holes did not encounter an extension of the known mineralization, however, down-hole probing of the holes have isolated a strong electromagnetic conductor further along strike from the known zone, which may be a faulted extension of the Pine Bay Zone.