Exploring Canada’s Most Prolific Base and Precious Metals Districts · 2020. 9. 3. · This...
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Exploring Canada’s Most Prolific Base and Precious
Metals Districts
TSX-V: CNX I OTC: CLLXF
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Forward Looking InformationThis presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the
current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward-look-
ing information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions. The
Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements can
generally be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology
such as “targets”, “believes”, “expects”, “aims”, “assumes”, “intends”, “plans”, “seeks”, “will”, “may”, “anticipates”, “would”, “could”, “continues”, “esti-
mate”, “milestone” or other words of similar meaning and similar expressions or the negatives thereof. By their nature, forward-looking information
and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or
achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the
forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any
underlying assumptions prove to be incorrect, the Company’s actual financial condition or results of operations could differ materially from that or
those described herein as anticipated, believed, estimated or expected. Any forward-looking information or statements in this presentation speak
only as at the date of this presentation. Except under the applicable securities laws, the Company does not intend, and expressly disclaims any
obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including forward looking informa-
tion and statements, whether to reflect changes in the Company’s expectations with regard thereto or as a result of new information, future events,
changes in conditions or circumstances or otherwise on which any statement in this presentation is based. Given the aforementioned uncertainties,
prospective investors are cautioned not to place undue reliance on any of these forward-looking statements.
The technical content of this presentation has been reviewed and approved by JJ O’Donnell, P.Geo, a consultant to the Company, and a Qualified
Person as defined by National Instrument 43-101.
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To discover and develop base and precious metal rich deposits within established Canadian mining districts
Our Mission
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1927 2011 20162014 2018
Callinan Mines, founded by Jack Callinan in 1927, has had a major presence in the Flin Flon Mining District in Manitoba, Canada
Callinan Mines splits into two entities: Callinan Royalties and Callinex, which holds the exploration portfolio today
Callinex acquires a portfolio of base and precious metals assets at bottom of zinc cycle
777 VMS Mine, discovered on Callinan claims, commences production and royalty payments begin
Callinex renews exploration focus on base and precious metals-rich VMS deposits
Announces major expansion of the Nash Creek Deposit and maiden PEA
Focused on base and precious metals districts
Our History
2004
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HIGH GRADEPolymetallic deposits often containing zinc, copper, lead, gold and silver
FORMATIONDeposits occur where mineral rich, superheated water is brought to the surface by volcanic activity
DISTRICT SCALEMost deposits occur in clusters that define major mining districts, such as Flin Flon and Bathurst
PREVALENCE350 deposits and major VMS occurrences in Canada; Flin Flon and Bathurst Camps are the top two jurisdictions in the nation1
Source: 1 Mineral Deposits of Canada, Volcanogenic Massive
Sulphide Deposits
Volcanogenic Massive Sulphide Deposits
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magma
massive sulphide deposits
sedimentation
seawater seepage
sea floor
heat
Ag
Au
Cu
Zn
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Corporate OverviewCapital StructureEnterprise ValueOwnership Breakdown
11.06MShares Outstanding
$31.2MMarket Cap
947KOptions Outstanding*($1.70 VWAP)
$0Debt
610KWarrants Outstanding($1.00 VWAP)
$560KCashAs of 8/28/20
28% Management and Associates
21% Institutional and Family Offices- Resource Capital Funds (8%)
51% Retail Investors
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Share PerformanceRecent Trading
$0.32-$4.1752-Week Range
$2.83Closing Price6/20/2020
56.88KAverage Daily Volume(3-mo)
TSX-V: CNX I OTC: CLLXF
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Our TeamMax PorterfieldPRESIDENT, CEO AND DIRECTOR
Over fifteen years of experience in natural resources and financial markets, previously with Brazil Resources Inc., Uranium Energy Corp. and US Global Investors. Mr. Porterfield is a graduate of Texas Tech University, with a bachelor’s degree in business administration.
Killian RubyCHIEF FINANCIAL OFFICER
A Chartered Professional Accountant, formerly an Assurance Partner at Wolrige Mahon LLP (now Baker Tilly Canada) and prior to that, a Senior Manager with KPMG, working predominantly with public companies.
Alan Vowles GEOPHYSICIST
Over 35 years of VMS exploration experience within North America and an integral member of the HudBay team that discovered the Lalor deposit in Saskatchewan. Mr. Vowles is a recipient of the PDAC Bill Dennis Prospector of the Year Award for his role in Lalor Mine’s discovery.
Mike Muzylowski GEOLOGIST & ADVISOR
Involved in the discovery of 12 VMS mines in the Flin Flon District of Manitoba, Canada. His discoveries include the Trout Lake mine, which operated from 1982-2012. Mr. Muzylowski received the 1988 PDAC Developer of the Year award and is a 2011 inductee into the Canadian Mining Hall of Fame.
James Pickell GEOLOGIST
Over 40 years of VMS exploration experience globally. Notable discoveries include the Callinan North, Konuto Lake and 777 ore bodies within the Flin Flon district of Manitoba, Canada. Mr. Pickell is a recipient of the PDAC Bill Dennis Prospector of the Year Award for his role in the discovery of the 777 Mine.
JJ O’DonnellGEOLOGIST
Over 25 years of VMS exploration experience within Canada while holding senior positions with Callinex, HudBay, Selwyn Chihong Mining and Granges. Mr. O’Donnell has been instrumental in the exploration and development of the world-class Howard’s Pass Zinc Project located in the Yukon, Canada.
Canadian Mining Hall of Fame Inductee and PDAC Developer of the Year Award
PDAC Bill Dennis Prospector of the Year Award
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Flin Flon District
Bathurst District
Buchans District
• Portfolio of advanced stage base and precious metals rich VMS deposits located in Canadian mining districts
• All mineral resources start at or near surface
• Deposits are located near processing facilities and essential mining infrastructure
• Provides exposure to rising metal prices with deposits containing sizeable zinc, gold and silver resources
01
01
02
02
03
03
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20 km
Bathurst Overview
134
180
134
160
8
11
145
135
113
11
Bathurst
Quebec
NEW BRUNSWICK
Caribou Mine & Mill
Brunswick Mine #12
Brunswick Mine #6
Heath Steele Mine
Legend Processing Facility
Lead Smelter Power Station
Power Rail Station
Rail Deep Water Port
Mine Road City
Nash Creek
Headway
Superjack
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Modified from Goodfellow, 2003 Clusters of deposits make up the Bathurst Mining District
Cluster Effect30
20
10
5
3
10.1 1 10 100 1000
Pb +
Zn
(wt.
%)
Million Tonnes
Caribou
BMS #12
SuperjackNash Creek
Bathurst Mining DistrictProduction History
One of the largest volcanic-hostedsulphide belts in the world with morethan 130Mt of ore produced, commonlyZn-Pb-Cu-Ag-Au
Mining Infrastructure
Great access to power, water, roads and processing facilities in a major mining district
Geological Endowment
Over 45 volcanic-hosted massive sulphide deposits including the 230Mt Brunswick No. 12, 70 Mt Caribou Mine and 69 Mt Heath Steel Mine
VMS Deposits
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• 2018 PEA outlines a 10-year, 3,900 tpd open pit mining operation with a dense media separation (“DMS”) plant and 1,950 tpd conventional flotation mill
• Indicated resource containing 963 million pounds of Zn Eq. contained within 13.6Mt grading 3.2% Zn Eq. and an Inferred resource containing 407 million pounds of Zn Eq. contained within 5.9Mt grading 3.1% Zn Eq.
• World-class infrastructure with highway and transmission lines 1 km from deposit; seaport, smelter, railway and power plant <25 km by road
• District-scale, 118 sq km land package hosting the Nash Creek deposit that extends for +2 km and is open along strike in both directions
Nash Creek Project134
180
134
160
8
11
145
135
113
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Bathurst
NEW BRUNSWICK
Caribou Mine & Mill
Brunswick Mine #12
Brunswick Mine #6
Heath Steele Mine
Quebec
Nash Creek
Headway
Superjack
20 km
Processing Facility
Lead Smelter
Power Station
Power
Rail Station
Rail
Deep Water Port
Mine
Road
City
Legend
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Infrastructure Advantage at Nash Creek
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BASE CASE SCENARIOMaiden PEA Results
Mined mineralization (Diluted Zn Eq.)
14.4 Mt @ 3.7%
Average annual production (Zn Eq.)
~96M Pounds
Net smelter returns ($/T of DMS feed)
$80.13
Total operating cost ($/T of DMS feed)
$30.94
Pre-production CapEx
$168M
After-tax payback
2.8 years
Pre-tax/after-tax NPV (8%)
$230M / $128M
Pre-tax/after-tax IRR
34% / 25%
District-scale Potential• Located in emerging mineral belt
adjacent to traditional “Bathurst” area
• Robust track record of resource growth with additional drilling
• Large number of high priority drill targets provide exceptional exploration upside
(1) See news release dated May 14, 2018. Base case parameters assume a metal prices of US$1.25/lb Zn, $1.10/lb Pb and $17/oz, and an exchange rate (US$ to C$) of 0.77. All currencies are reported in Canadian dollars unless otherwise specified. The PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized.
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District-scale Land Package
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Nash Creek Deposit Correlation With 2011 IP Survey
• The 2011 IP survey was integral to Callinex’s initial 2017 exploration, leading to a major expansion of the Nash Creek Deposit
• All drill tested IP targets have intersected base metal mineralization or alteration related to the deposit
• Only 2 km of the 20 km trend has been subject to any significant exploration, which led to the delineation of the Deposit
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Nash CreekDeposit
Major Road System
Provincial Highway #11
Major Transmission Line
Power Station
Brunswick Lead Smelter
Deep Sea Port
Rail Line
2019-2020 Drilling
Historic Drilling
Fault
Nash Creek Claim Outline
GEOLOGY UNITS
Carbonate
Deep Water Clastic
Felsic Intrusion
Felsic Volcanic
Mafic Intrusion
Mafic Volcanic
Shallow Water Clastic
Terrestrial Sediments
Legend
NC20-321
Drill Hole From (m) To (m) Interval (m) Ag (g/t) Zn (%) Pb (%) Cu (%)
NC19-306 34.00 53.00 19.00 36.50 0.40 0.50 -
Including 42.00 45.00 3.00 130.0 0.20 1.00 -
NC19-307 37.03 37.22 0.19 5.00 0.60 0.10 3.15
Also 235.58 235.84 0.26 1.00 0.01 0.00 1.15
NC20-313 163.0 191.60 28.60 57.00 0.20 0.10 -
Includes 167.00 183.50 16.50 94.40 0.20 0.10 -
Includes 167.00 173.00 6.00 140.00 0.20 0.10 -
Includes 168.00 172.00 4.00 176.30 0.20 0.10 -
Includes 177.50 183.50 6.00 88.50 0.20 0.10 -
km
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TSX-V: CNX I OTC: CLLXFNash Creek Project 2019-2020 Drilling With Regional Geology
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Nash Creek Project with 2019-2020 Drillholes with AirBorne Magnetic Survey (1st Vertical Derivative)
Provincial Highway #11
Major Transmission Line
Rail Line
2019-2020 Drilling
Historic Drilling
Nash Creek Claim Outline
GEOLOGY UNITS
Carbonate
Deep Water Clastic
Felsic Intrusion
Felsic Volcanic
Mafic Intrusion
Mafic Volcanic
Shallow Water Clastic
Terrestrial Sediments
Legend
5.426
0.300
0.173
0.072
-0.023
-0.119
-0.228
-0.376
-2.111
RTP 1VD (NT/M)
0 2 4 6 km
Nash Creek Project 2019-2020 Drilling with Airborne Magnetic Survey (1st Vertical Derivative)
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Nash Creek Property 2019-2020 Drillholes with Resistivity Slice at 150 Metres Below Surface
Nash CreekDeposit
Provincial Highway #11
Major Transmission Line
Rail Line
2019-2020 Drilling
Historic Drilling
Fault
Nash Creek Claim Outline
RESISTIVITY
GEOLOGY UNITS
Carbonate
Deep Water Clastic
Felsic Intrusion
Felsic Volcanic
Mafic Intrusion
Mafic Volcanic
Shallow Water Clastic
Terrestrial Sediments
Legend
Low High
21 Nash Creek Project 2019-2020 Drilling with Resistivity Slice at 150 Metres Below Surface
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Historic Drilling
Drill Hole Trace
2019-2020 Drilling
Fault
Major Transmission Line
Provincial Highway #11
Nash Creek Claim Outline
GEOLOGY UNITS
Carbonate
Deep Water Clastic
Felsic Intrusion
Felsic Volcanic
Mafic Intrusion
Mafic Volcanic
Shallow Water Clastic
Terrestrial Sediments
Legend
NC20-318NC20-314
NC20-317
NC20-309
NC20-310NC20-321
NC20-311BLACK POINT
ARLEAU BROOK FAULT
NC20-312
NC20-320
NC20-319
NC20-313
NC20-308
0 0.5 1 1.5 2 km
22 Northern Section of Nash Creek Project 2019 - 2020 Drilling with Resistivity Slice at 150 Metres Below Surface
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Central Zone
Nash Creek Deposit
Provincial Highway #11
Major Transmission Line
Power Station
Brunswick Lead Smelter
Deep Sea Port
Rail Line
2019-2020 Drilling
Historic Drilling
Nash Creek Claim Outline
Resistivity (50-65 Ohms)
Chargeability (5-25Mv)
Legend
Drill Hole From (m) To (m) Interval (m) Ag (g/t) Zn (%) Pb (%)
NC19-309 82.00 83.00 1.00 1.00 2.50 0.15
Also 127.00 128.00 1.00 5.00 3.55 0.35
Also 160.00 172.00 12.00 20.41 1.59 0.24
NC19-310 19.00 25.00 6.00 17.83 2.23 0.36
Also 34.00 36.00 2.00 17.00 1.37 1.43
Also 38.00 41.00 3.00 25.33 1.76 0.66
NC19-311 23.00 24.00 1.00 1.00 2.67 0.28
Also 80.00 90.00 10.00 1.10 1.71 0.15
Including 81.00 88.00 7.00 1.14 2.06 0.20
NC20-321 109.00 116.00 7.00 1.70 0.04 1.30
GEOLOGY UNITS
Carbonate
Deep Water Clastic
Felsic Intrusion
Felsic Volcanic
Mafic Intrusion
Mafic Volcanic
Shallow Water Clastic
Terrestrial Sediments
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TSX-V: CNX I OTC: CLLXFNash Creek 2019-2020 Central Zone Drilling with
IP Chargeability-Resistivity Isoshells23
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24
Provincial Highway #11
Major Transmission Line
Rail Line
2019-2020 Drilling
Historic Drilling
Nash Creek Claim Outline
Legend
CHANNEL 15 - OFF TIME (pV/A/m4)
0.295
0.106
0.088
0.077
0.067
0.059
0.051
0.043
0.036
0.028
0.019
0.010
-0.002
-0.019
-0.017
GEOLOGY UNITS
Carbonate
Deep Water Clastic
Felsic Intrusion
Felsic Volcanic
Mafic Intrusion
Mafic Volcanic
Shallow Water Clastic
Terrestrial Sediments
0 2 4 6 km
Central Zone
Nash Creek Project 2019-2020 Drilling with Airborne VTEM Survey (Channel 15)
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• Small, high-margin starter pit included within the 2018 PEA
• Near-surface Inferred resource of 3.2Mt grading 4.6% Zn Eq. containing 328 million pounds of Zn Eq.
• Located 15 km from the ‘supergiant’ Brunswick #12 Mine, recently one of the largest underground zinc mines in the world
• Project covers the Caribou and Brunswick horizon which host on average 15-20Mt geologic deposits
• Plans to follow up on a 2017 near-surface zinc discovery that is open for expansion
Superjack Project134
180
134
160
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145
135
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Bathurst
NEW BRUNSWICK
Caribou Mine & Mill
Brunswick Mine #12
Brunswick Mine #6
Heath Steele Mine
Quebec
Nash Creek
Headway
Superjack
20 km
Processing Facility
Lead Smelter
Power Station
Power
Rail Station
Rail
Deep Water Port
Mine
Road
City
Legend
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• The high-grade project is located adjacent to the world-class Brunswick No 12 Mine, where production totaled 137 million tons grading 8.74% Zn, 3.44% Pb, 0.37% Cu, and 102 g/t Ag from 1964-2013
• The Project hosts the Headway and Pabineau deposits located along the prolific Brunswick Horizon
• The Headway Deposit is reported to be 950m long, 160m deep and up to 15m thick
• Callinex plans to complete a surface IP survey and drilling in the future
2 km
Headway Project
Brunswick Mine #6
Brunswick Mine #12
Headway DepositPabineau Deposit
Louvicourt Deposit
Fab Main Zone Deposit
Mine
Callinex Mineral Claim
Osisko Mineral Claim
Road
Power
Rail
Legend
Produced 136.6 Mt @ 8.74% Zn, 3.44% Pb, 0.37% Cu, 102.2 g/t Ag (1964-2013)
16.3Mt @ 0.6% Zn, 0.3% Cu, 10.29 g/t Ag
136,000t @ 2.65% Zn, 0.87% Pb 263,100t @ 6.16% Zn, 2.1%
Pb, 1.43% Cu, 21 g/t Ag
Produced 12.8Mt @5.45% Zn, 2.15% Pb, 0.40% Cu,
66.5g/t Ag (1966-1983)
136,000t @1.0% Zn, 1.23% Pb, 90.86g/tAg, 0.96 g/t Au
NASH CREEK
SUPER JACK
BATHURST
26 Callinex Corporate PresentationTSX-V: CNX I OTC: CLLXF
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Flin Flon Project
Flin Flon
Pine Bay Project
777 Mine Processing Facility
2 km
Flin Flon District Overview
Legend Deposit
Historic Mine
Pine Bay Shaft
Callinex Claims
Callinex Mining Lease
HudBay Claims
Paved Road
Power
Rail
MANITOBA
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• Explored by Placer Dome in the 1990s where the company had a mandate to discover a 30Mt VMS deposit
• Covers one of the largest felsic rock packages within the belt, the primary host rock for VMS deposits
• A large alteration zone spanning 1,100m long and up to 700m wide, has been overturned. The zone is facing West, adjacent to three VMS horizons
• Three stacked horizons host five mineralized zones including the Pine Bay Copper Deposit
Pine Bay Project
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KILOMETERS
0 2
N
Deposit
Historic Mine
Mine Shaft
Callinex Claims
Callinex Mining Lease
HudBay Claims
Alteration Zone
KILOMETERS
0 2
N
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+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
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Baker Patton Felsic Complex
Road
Power
Legend
Potential for large VMS deposit
2 km
28 Callinex Corporate PresentationTSX-V: CNX I OTC: CLLXF
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High-Grade Potential at Pine Bay
Hole From (m) To (m) Interval (m) Zn Eq (%) Zn (%) Au (g/t) Ag (g/t) Cu (%) Pb (%)
284-3-93-DPN 998.80 1010.26 11.46 12.23 5.61 1.65 56.38 0.68 0.35
Including 999.26 1009.59 10.33 13.06 6.00 1.78 60.39 0.71 0.35
Including 999.80 1004.00 4.20 20.77 11.82 2.43 73.77 0.70 0.73
Including 999.80 1002.50 2.70 26.35 16.37 2.57 79.21 0.86 0.98
Cabin VMS Horizon Baker Patton VMS HorizonPine Bay VMS Horizon
New Discovery – 10.3m of 13.1 Zn Eq.
• Callinex discovered 10.3m of 13.1% Zn Eq. (6.0% Zn, 1.8 g/t Au, 60.4 g/t Ag, 0.7% Cu and 0.4% Pb) by extending a previous Placer Dome drill hole by 38m
• Drill hole intersected the most significant gold and silver results out of the over 625 holes drilled during the last 80 years of exploration at the project
• Nature of mineralization suggests the VMS system is long-lived and the intersection occurs at the edge of the system
Cross section of the Northern Pine Bay Area with 3-D surfaces
29 Callinex Corporate Presentation
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Pine Bay IP Chargeability Isoshells with 2019/2020 DrillingPine Bay IP Chargeability Isoshells with 2019/2020 Drilling
PBM-031
PBM-035
PBM-037
PBM-033
PBM-007DPN
Mineral Lease
2019 Drill Hole
VMS Horizon
2019 IP 40MV Isoshell
Powerline
Road
BPEM Anomaly A
BPEM Anomaly B
BPEM Anomaly C
Legend
1500 m
PBM-034
PBM-032
CABI
N HORI
ZON
PINE B
AY H
ORIZO
N
CENT
ENNI
AL M
INE
HORI
ZON
Pine Bay Plan View with Magnetic Low Contours (-300m Level Slice)
30
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Pine Bay IP Chargeability Isoshells with 2019/2020 Drilling Pine Bay Plan View with Magnetic Low Contours (-300m Level Slice)
Pine Bay Plan View with Magnetic Low Contours (-300m Level Slice)
2000 m
2019 40MV ISOSHELL
2019-2020 Drill Hole
Powerline
Mag Low Boundary
BPEM Anomaly A
BPEM Anomaly B
BPEM Anomaly C
VMS Horizon
Mineral Lease
Road
Legend
Target Area #3
Target Area #1
Cent
enni
al M
ine
Horiz
on
Target Area #2
PBM-031
PBM-035
PBM-037
PBM-033
PBM-007DPN
PBM-034
PBM-032
31
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Pine Bay Plan View with Geology and Growth Fault Corridor
NORTH STAR MINEBAKER PATTON
DEPOSIT
CABIN DEPOSIT
PINE BAY MINE
CABI
N HORI
ZON
1000 m
Pine Bay Plan View with Geology and Growth Fault Corridor
PINE
BAY
HORIZO
N
CENT
ENNI
AL M
INE
HORI
ZON
GROWTH FAULT VMS CORRIDOR
DON JON MINE
Mineral Lease
Callinex Claim Boundary
2019-2020 Drill Hole
VMS Horizon
Powerline
Road
BPEM Anomaly A
BPEM Anomaly B
BPEM Anomaly C
Growth Fault VMS Corridor
Legend
GEOLOGY
Basalt Volcanics
Volcaniclastic Rocks
Quartz +/- Feldspar Phyric Rhyolites
Rhyolite Volcanics
Gabbro/Diorite Intrusives
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NORTH STAR MINEBAKER PATTON
DEPOSIT
CABIN DEPOSIT
PINE BAY MINE
CABI
N HORI
ZON
1000 m
Pine Bay Plan View with Geology and Growth Fault Corridor
PINE
BAY
HORIZO
N
CENT
ENNI
AL M
INE
HORI
ZON
GROWTH FAULT VMS CORRIDOR
DON JON MINE
Mineral Lease
Callinex Claim Boundary
2019-2020 Drill Hole
VMS Horizon
Powerline
Road
BPEM Anomaly A
BPEM Anomaly B
BPEM Anomaly C
Growth Fault VMS Corridor
Legend
GEOLOGY
Basalt Volcanics
Volcaniclastic Rocks
Quartz +/- Feldspar Phyric Rhyolites
Rhyolite Volcanics
Gabbro/Diorite Intrusives
Northern Section of Pine Bay Project 2019/2020 Drilling with VTEM (Channel 30)
NORTH STAR MINE
BAKER PATTON DEPOSIT
DON JON MINE
CABIN DEPOSIT
PINE BAY MINE
Northern Section of Pine Bay Project 2019/2020 Drilling with VTEM (Channel 30)
CABI
N HORI
ZON
PINE
BAY
HORIZO
N
CENT
ENNI
AL M
INE
HORI
ZON
GROWTH FAULT VMS CORRIDOR
Mineral Lease
Callinex Claim Boundary
2019-2020 Drill Hole
VMS Horizon
Powerline
Road
BPEM Anomaly A
BPEM Anomaly B
BPEM Anomaly C
Growth Fault VMS Corridor
Conductivity
Legend
LowHigh
33
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Pine Bay Project with VTEM (Channel 30) and Growth Fault Corridors
Pine Bay Project with VTEM (Channel 30) and Growth Fault Corridors
NORTH STAR MINE
BAKER PATTON DEPOSIT
SOURDOUGH DEPOSIT
CENTENNIAL MINE
CABIN DEPOSIT
PINE BAY MINE
CABI
N HORI
ZON
PINE
BAY
HORIZO
N
CENT
ENNI
AL M
INE
HORI
ZON
GROWTH FAULT VMS CORRIDOR
DON JON MINE
Mineral Lease
Callinex Claim Boundary
2019-2020 Drill Hole
VMS Horizon
Powerline
Road
BPEM Anomaly A
BPEM Anomaly B
BPEM Anomaly C
Growth Fault VMS Corridor
Conductivity
Legend
LowHigh
Pine Bay 3D Plan View with 2019/2020 Drilling, Geology and BPEM Plates
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BPEM ANOMALY B
BPEM ANOMALY A
BPEM ANOMALY C
Pine Bay 3D Plan View with 2019/2020 Drilling, Geology and BPEM Plates
Sulphide Mineralization
Argillite Sediments
Rhyodacite Volcanic
Rhyolitic Volcanic
Andesite Volcanic
Diorite Intrusive
Legend
500 m
PBM-035PBM-031
PBM-032
PBM-037
PBM-033
PBM-034
PBM-007DPN
Pine Bay 3D Plan View with 2019/2020 Drilling, Geology and BPEM Plates
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Pine Bay 3D Plan View Looking Down the Plane of BPEM Plates A & B
Pine Bay 3D Plan View Looking Down the Plane of BPEM Plates A & B
Sulphide Mineralization
Argillite Sediments
Rhyodacite Volcanic
Rhyolitic Volcanic
Andesite Volcanic
Diorite Intrusive
Legend
BPEM ANOMALY B
BPEM ANOMALY A
500 m
PBM-035
PBM-037
PBM-033
PBM-034
PBM-007DPN
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Pine Bay 3D Plan View Looking Down the Plane of BPEM Plates A & B
Pine Bay 3D View Looking NE with BPEM Plates A & B Pine Bay 3D View Looking NE with BPEM Plates A & B
BPEM ANOMALY A
BPEM ANOMALY B
Sulphide Mineralization
Argillite Sediments
Rhyodacite Volcanic
Rhyolitic Volcanic
Andesite Volcanic
Diorite Intrusive
Legend
PBM-035
PBM-037
PBM-033
PBM-034
PBM-007DPN
400 m
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Pine Bay 3D View Looking Westerly with Plates A & BPine Bay 3D View Looking Westerly with Plates A & B
BPEM ANOMALY A
BPEM ANOMALY B
Sulphide Mineralization
Argillite Sediments
Rhyodacite Volcanic
Rhyolitic Volcanic
Andesite Volcanic
Diorite Intrusive
Legend
PBM-035
PBM-037
PBM-033
PBM-034
PBM-007DPN
400 m
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Pine Bay 3D View Looking Westerly with Plates A & B
NQ Core - 4.76cm diameter
PBM-037 at 944.5m: ~1.5cm Solid Red-Brown Sphalerite Stringer Hosted in a Strongly Altered Chloritized Rhyodacite Flow
39 Callinex Corporate Presentation
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• Historical Inferred mineral resource of 14.1 Mt grading 6.2% Zinc Eq. including 1.86% zinc, 1.07 g/t gold, 17.12 g/t silver and 0.42% copper containing 577 million pounds of zinc, 484,000 ounces of gold, 7,755,000 ounces of silver and 130 million pounds of copper.*
• Advanced permitting stage with resource contained within current Mining Lease
• High-grade mineralization open at depth with assays including 4.67m of 15.1% Zn, 4.4 g/t Au, 57.9 g/t Ag and 0.36% Cu down-plunge from resource**
• A number of regional isolated airborne electromagetic geophysical targets identified for follow up
*The historical resource estimate is contained a Technical Report dated July 4, 2013
titled “Technical Report and Resource Estimate on the Point Leamington Property, Newfoundland, Canada” prepared by Tetra Tech Inc. (“Tetra Tech”) for Raystar Capital Inc. The historical mineral resource estimate, termed “inferred mineral resource”, which is a category set out in CIM, was based on previous drill hole assays, and calculated using ordinary kriging to estimate gold grades in 10 x 10 x 10 foot blocks. Accordingly, Callinex considers this historical estimate reliable as well as relevant as it represents key targets for exploration work by Callinex. Callinex has not done sufficient work to classify the historical estimate as a current mineral resource and Callinex is not treating this historical estimate as current mineral resources.
**See News Release dated May 16, 2016
Point Leamington Project
Bishop’s Falls
Grand Falls WindsorBadger
South Brook
PT. LEAMINGTON PROJECT
Duck Pond
NEWFOUNDLAND
Processing Facility
Power
Rail
Mine
Road
City
Deep Water Port
Legend
20 km
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Project PortfolioStrong Team
Tight Capital Structure
Investment Summary
• Portfolio of advanced staged exploration projects in Canadian mining districts with significant exploration upside
• Technical team involved in the discovery and development of several major base and precious metal deposits in Canada
• Fully funded for near-term exploration objectives and recently consolidated share structure
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604.605.0885 [email protected] www.callinex.ca
Corporate Head Office 1555 - 555 West Hastings Street Vancouver, BC Canada V6B 4N6
President and CEO: Max Porterfield
Corporate Counsel: Northwest Law Group
Auditors: PwC