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Callinex is also advancing its VMS proj-
ects in the Maritimes. These include Nash
Creek and Superjack in the active Bathurst
mining camp of northern New Brunswick
and the Point Leamington Project in
Newfoundland.
"In the Maritimes, we have upgraded
the Nash Creek deposits resource estimates
to over 9 million tonnes indicated and
over 1 million tonnes inferred and hope
to increase that," said Porterfield. "Nash
Creek is a sizeable deposit with great infra-
structure including proximity to roadways,
power, water and nearby operating facili-
ties. Additionally, based on test results, we
believe the potential head grade from the
deposit can be upgraded , which could be
quite attractive for an open pit operation.
We will be announcing an exploration pro-
gram there in the future. At the Superjack
deposit, which is within 15 km of the
Brunswick No.12 Mine, we believe there is
potential to increase the size of the deposit
with further exploration."
Combined inferred resources at Nash
Creek, Superjack and Point Leamington total
18,417,015 tonnes with a ZnEq of 5.73%.
"I think that if we were to make a sub-
stantial discovery, we would be a natural
takeover candidate in both mining camps,"
said Porterfield.
Max Porterfield is bullish on zinc. "I
think zinc still has a lot of room to run
based upon supply constraints. Demand is
steady. There could be more demand with
infrastructure spending in the US. I think
in the medium term zinc will trade at US
$1.30 to $1.50 per pound."
Callinex Mines has 77.5 million shares
outstanding. Institutions own 31% of
the company's shares, including Resource
Capital Funds, Sprott Group, Europacific
Gold Fund, Plethora Precious Metals
Fund and Fieldhouse Capital Management.
Insiders and close associates hold 29% of
shares with retail investors owning 40%.
Callinex is chaired by Canadian Hall
of Fame 2011 inductee Mike Muzylowski
who has discovered and developed 16 min-
eral deposits through to production, 12 of
which were VMS mines in the Flin Flon
district.
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