VANCOUVER, B.C. (February 5, 2007)—Callinan Mines Ltd. and joint venture partner Bell Resources Corporation will drill significant targets located by a now-completed airborne geophysical survey of its Fox River nickel-copper Project near Gillam, Manitoba.
The announcement was made today by Callinan President Mike Muzylowski, who stated that on-site drill crews are setting up to test several highly conductive anomalies on the southern portion of the property. These coincident conductive and magnetic structures are being considered potential massive sulphide occurrences.
Mr. Muzylowski noted that the current drill targets are among a number of promising anomalous targets revealed by the encompassing aerial survey conducted by Geotech Airborne Services of Aurora, ON., using their award-winning Versatile Time Domain Electro-Magnetics (VTEM) system. The survey encompassed some 6,000 line kilometers of flight path over 157,000 hectares (413,000 acres) of the Callinan-Bell joint venture.
“The completion of this VTEM survey represents a significant advance in the geological knowledge of this important region” President Muzylowski stated. “It is likely that the area of faulting extends considerably towards the south east and north west.”
Of particular interest on the southern block is a strong conductor on the westernmost portion of the Fox River Sill. This conductor lies along the same magnetic lineament on the southern flank of the sill as the “KO Zone”, a known sulphide occurrence near the Great Falls area of the Fox River. The “KO zone” is comprised of disseminated sulphides containing nickel, copper and platinum group metals in considerable concentrations and is located adjacent to the joint venture claims. A report on the KO zone is available at Callinan.com. The new target will be tested as part of this winter’s drill program.
“The target on the tip of the sill is certainly an exciting occurrence,” said Pat DeVeaux, Chief Exploration Consultant. “We’re aware of previous anomalous geochemical surveys in the area. Of course, the magnetic coincidence to the KO zone is also of great interest.”
All necessary infrastructure for this winter’s drill program is on site, and setup is complete. Conditions of extreme cold have created firm ground conditions, allowing crews access to all drill targets. It is likely that the thick ice caused by these conditions will contribute to an extended drill season.
All of Callinan’s exploration programs are overseen by Pat DeVeaux, a qualified person as defined by National Instrument 43-101 who has reviewed and approved the contents of this release.