Callinan Mines Declares Exploration Update.
International Resource News-23 May 2008-Callinan Mines Declares Exploration Update(C)2008 ENPublishing - http://www.enpublishing.co.uk
International Resource News - 23 May 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Callinan Mines Ltd (TSX V: CAA), a Canada-based company engaged in acquisition, exploration and development of mineral properties in Canada, has reported its progress from the Fox river project in Canada.
A diamond drilling programme has uncovered a new ultramafic, serpentinized peridotite, containing some sulphide mineralization. The new discovery occurs in a cluster of conductive and magnetic folded structures identified by VTEM survey.
The company president and chief executive officer, Mike Muzylowski, said, 'These sulphides, hosted in mafic rock on folded structures north of the Fox River Sill, are compelling. This indicates that magmatic segregation, which forms the nickel-sulphide deposits we are looking for, may have occurred in this area. Further exploration of this new discovery will commence as soon as possible.'
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