Callinex mines reports it has more than doubled the vertical extension of the Rainbow Deposit by extending the high grade copper, gold, silver and zinc deposit 257 meters closer to surface. The Rainbow is located at their Pine Bay Project 16 kilometers from Flin Flon.
President and CEO Max Porterfield says the Rainbow Deposit has the potential to be accessible by a ramp which in turn would translate to a more attractive development plan.
The Company has now defined the vertical extent to the 405 meter level from the 662 meter level that had been drilled prior to the 2021 drilling campaign. The previous step out hole intersected 5.7 meters of 4.72 percent copper equivalent with 3.57 percent copper, 0.54 grams per tonne silver, 21.41 grams per tonne gold and 1.56 percent zinc. Currently two rigs continue to operate to expand the Rainbow closer to surface and at depth. In addition the Company has commenced two deep penetrating geophysical surveys along the trend that hosts the Rainbow and Sourdough deposits as well as the past producing Centennial Mine.