Highlights:
- Most notably, led the development and construction of
several mines in the Flin Flon Greenstone Belt, including two of
the largest, the 777 mine as well as the discovery and initial
development of the Lalor mine;
- Instrumental in the development and transformation of HudBay
into a substantial international mining company;
and
- Will assist the Company in advancing Pine Bay and other
Callinex projects through the next stages of
development.
VANCOUVER, BC, Feb. 6, 2023
/CNW/ - Callinex Mines Inc. (the "Company" or "Callinex")
(TSXV: CNX) (OTCQX: CLLXF) is pleased to announce it has appointed
mining engineer and entrepreneur Peter R.
Jones to the Company's Technical Team. Peter has over
50 years mining industry experience spanning many areas of the
world, including the Flin Flon Greenstone Belt. Peter led the
development and construction of several mines in the Flin Flon
Greenstone Belt, including two of the largest, the 777 mine as well
as the discovery and initial development of the Lalor mine. Peter
also provided leadership and strategic vision to establish HudBay
Minerals Inc. ("HudBay") which is now a respected multinational
mining company.
Peter Jones stated, "I am very
pleased to be working with the Company to help move Pine Bay and
other Callinex properties through the next stages of project
development, leading to mine production."
Callinex President and CEO, Max
Porterfield, stated, "We are excited to welcome Peter as a
member of our technical team. His strong leadership and technical
skillset are a big boost in critical areas of our business at the
perfect time." Mr. Porterfield continued, "I'm looking forward to
working with Peter to advance our discoveries at Pine Bay."
Mr. Jones was instrumental in the development and transformation
of HudBay and its predecessor, Hudson Bay Mining and Smelting
Company, Ltd. ("HBMS") into a substantial international mining
company. As the CEO of HBMS and then HudBay, in 2004 he
orchestrated the company's initial public offering and acquisition
of HBMS from Anglo American. He
oversaw HudBay's emergence until 2008, and its turnaround after
rejoining in 2009 and eventually re-retiring in 2010.
Peter played a key role in the development of Hudbay's flagship
777 mine; which produced for nearly two decades until recently
closing, and the Konuto Lake and Chisel North mines. It's worthy to
note that Konuto Lake was one of the fastest discoveries to go into
production in just 18 months after its initial discovery.
Subsequently, he oversaw HudBay's other strategic initiatives,
including the discovery and advancement of the Lalor mine which is
currently producing in the Snow
Lake area of the Flin Flon Greenstone Belt.
Mr. Jones currently serves as Chairman of Reyna Silver
Corporation and is on the board of Reyna Gold Corporation. He
graduated from the Camborne School of Mines in the U.K. and is a
Professional Engineer in Canada.
Previously, he served as Chairman of the Mining Association of
Canada for several years and in
2006 was awarded the Turnaround Entrepreneur of the Year, Prairie
Region, by Ernst and Young.
About Callinex Mines
Inc.
Callinex Mines Inc. (TSXV: CNX)
(OTCQX: CLLXF) is advancing its portfolio of base and
precious metals rich deposits located in established Canadian
mining jurisdictions. The focus of the portfolio is highlighted by
the rapidly expanding Rainbow Discovery at its rich VMS Pine Bay
Project located near existing infrastructure in the Flin Flon
Mining District. The second asset in the portfolio is the Nash
Creek Project located in the VMS rich Bathurst Mining District of
New Brunswick. A 2018 PEA
generates a strong economic return with a pre-tax IRR of 34.1%
(25.2% post-tax) and NPV8% of $230
million ($128 million
post-tax) at $1.25 Zinc. The
third asset, 100% owned Point Leamington Deposit in Newfoundland, is located in one of the richest
VMS and Gold Districts in Canada.
Callinex prepared a pit constrained Indicated Mineral Resource of
5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq (145.7 koz gold, 60.0
Mlb copper, 153.5 Mlb zinc, 2.0 Moz silver, 1.5 Mlb lead), an pit
constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t
AuEq for 986.5 koz AuEq (354.8 koz gold, 110.2 Mlb copper, 527.3
Mlb zinc, 6.2 Moz silver, 7.0 Mlb lead) and an out-of-pit Inferred
Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq for 168.5 koz AuEq
(65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz Ag, 2.6 Mlb lead).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Some statements in this news release contain forward-looking
information. These statements include, but are not limited to,
statements with respect to future expenditures. These statements
address future events and conditions and, as such, involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. Such factors include, among
others, the ability to complete the proposed drill program and the
timing and amount of expenditures. Except as required under
applicable securities laws, Callinex does not assume the obligation
to update any forward-looking statement.
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SOURCE Callinex Mines Inc.
