Callinan Royalties Limited

Published : March 04th, 2011

Drilling at Gossan Hill Intersects 5.94 g/Mt over 14.77 metres

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Drilling at Gossan Hill Intersects 5.94 g/Mt over 14.77 metres

VANCOUVER -- Callinan Mines (TSX.V-CAA, OTCBB-CCNMF) is pleased to report that assay results have confirmed that DDH GOS 28 has intersected 5.94 grams of gold per tonne and 22.00 grams of silver per tonne over 14.77 meters at its Gossan Hill Property, Manitoba. Highlights from GOS 28 are included in the table below.

 

from (m)

To (m)

Core Width(m)

Au g/Mt

Ag g/Mt

GOS028

267.99

272.20

4.21

3.42

5.84

 

 

 

 

 

 

GOS028

277.03

291.80

14.77

5.94

22.00

Incl.

287.50

291.80

4.30

13.26

54.46


* true widths represent approximately 60% of core widths.

To date, 27 of 28 holes drilled by Callinan at Gossan Hill have produced gold mineralization (DDH GOS 27 was abandoned at 52 meters due to deviation). The mineralized intersection in hole GOS 28 occurs approximately 100 meters down strike and dip of previously announced GOS 25, which graded 9.73 grams of gold per tonne and 6.91 grams of silver per tonne over a core width of 5.75 meters.
The gold and silver mineralization at Gossan Hill is strongly associated with sulphide mineralization (pyrite, chalcopyrite and galena) within quartz carbonate veining adjacent to a sheared intrusive / volcanic contact zone. Interpretations of mapped geology indicate that the structure has a strike length of at least two kilometers.
Callinan Mines maintained a QA/QC program at all stages of exploration. Drill core recovery was calculated, measured and recorded at the Gossan Hill Property before being cut and sampled. Samples were split in half, one half of each sample being kept for storage and the other half placed in a pre-labeled plastic bag, tagged with the sample number and recorded in the log. Callinan QA/QC samples were inserted into the group of samples and shipped to Acme Analytical Laboratories in Vancouver, BC, where they were crushed, split, and pulverized to 250 g samples at 200 mesh. Pulp samples were then assayed by Aqua Regia digestion ICP-ES analysis (24 elements) and assayed for gold and silver by fire assay method. The lab employs internal quality control by assaying pulp duplicates and inserting quality control standards of predetermined values and a blank sample.

On Behalf of the Board of Directors,

Mike Muzylowksi

Mike Muzylowski

All of Callinan's exploration programs are conducted under the direction of J.J. O'Donnell, P.Geo ,Vice President of Exploration for Callinan and a qualified person as defined by national instrument 43-101, who has reviewed and approved the contents of this release.

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 contemplated work programs and the timing and amount of expenditures. Callinan does not assume the obligation to update any forward-looking statement.


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Callinan Royalties Limited

PRODUCER
CODE : CAA.V
ISIN : CA13124H1064
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Callinan Royalties is a silver and gold royalty company based in Canada.

Callinan Royalties produces silver, gold, copper, lead and zinc in Canada, develops copper, lead and zinc in Canada, and holds various exploration projects in Canada.

Its main assets in production are 777 MINE, COLES CREEK and CALLINAN MINE in Canada, its main assets in development are GUNNISON and WAR BABY in Canada and its main exploration properties are THOMPSON BELT in Cambodia and FLIN FLON, FOX RIVER MAFIC BELT, SNEATH LAKE, DION, BERRY CREEK, RAYFIELD, ECHO LAKE, CANDLE LAKE and CAL in Canada.

Callinan Royalties is listed in Canada and in United States of America. Its market capitalisation is CA$ 88.8 millions as of today (US$ 70.9 millions, € 62.4 millions).

Its stock quote reached its lowest recent point on December 31, 2001 at CA$ 0.07, and its highest recent level on December 31, 2010 at CA$ 3.37.

Callinan Royalties has 49 360 000 shares outstanding.

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Financings of Callinan Royalties Limited
5/16/2014and Estrella Gold Corporation Complete Financing
10/16/2013Royalties and Avrupa Minerals Complete Financing
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3/29/2011sets Record and Meeting Dates for Spin-Out Transaction
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Nominations of Callinan Royalties Limited
11/1/2013Announces Implementation of Notice and Access Provisions For...
9/24/2013Adopts Advance Notice By-Law for Nominating Directors and Ma...
Financials of Callinan Royalties Limited
3/3/2011Publishes 2nd Quarter Financial Results
11/30/2010Releases Q1 Financial Statements
Project news of Callinan Royalties Limited
10/25/2013Royalties and Renaissance Gold Enter Into Exploration Allian...
10/4/2013Royalties and Avrupa Minerals Enter Into Exploration Allianc...
7/23/2013Receives Balance of 2012 Net Profits Interest Royalty Paymen...
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10/26/2012Royalties and Evrim Resources Enter Into An Alliance and Inv...
3/15/2011(777 Mine)Receives Adjustment Payment From HudBay Minerals
3/4/2011(Gossan Mb)Drilling at Gossan Hill Intersects 5.94 g/Mt over 14.77 metr...
2/25/2011(Gossan Mb)Drilling at Gossan Hill Intersects 9.73 g/mT Gold over 5.75 ...
2/15/2011(777 Mine)Receives Fourth Quarter Royalty Payment from HudBay Minerals
1/12/2011(Coles Creek)Coles Creek Drill Program Uncovers Large Mineralized System
8/16/2010Receives Q2 Net Profits Interest Payment from HudBay Mineral...
6/15/2009(Berry Creek)Intersects Gold Zone at Berry Creek
12/2/2008(Callinan Mine)Is Protecting its Interest in the 777 and Callinan Mines
8/26/2008(Phillips Lake)Nickel Mineralization Discovered at Phillips Project
7/22/2008(Coles Creek)Activity Update
5/29/2008(Fox River Mafic Belt)Amends Fox River Agreement
5/13/2008(777 Mine)Recieves Net Profits Interest from Hudbay Minerals' 777 mine...
3/17/2008(Fox River Mafic Belt)Begins 2008 Drilling Program at Fox River
Corporate news of Callinan Royalties Limited
2/25/2015Graduates to the Toronto Stock Exchange
12/17/2014Reports on 2014 Annual General Meeting
12/12/2014Receives Conditional Approval for TSX Graduation
11/26/2014Callinan Announces Comprehensive Agreement with Hudbay
11/25/2014Callinan Royalties Releases Q1 Financial Statements & Announ...
11/20/2014Callinan Royalties Accepts Early Prepayment from Wallbridge ...
11/14/2014Callinan Royalties Announces Its 2014 Annual General Meeting
10/22/2014Callinan Announces New Interim President and CEO and Resigna...
10/11/2014Callinan Royalties Releases Q4 and Year End Financial Statem...
8/21/2014Callinan Announces Quarterly Royalty Payments and Declares Q...
3/24/2014Reports on Line of Credit for Wallbridge Mining's Broken Ham...
1/13/2014(Cal)New Year Letter to Shareholders of Callinan Royalties Corpor...
12/18/2013Announces Continuation of Normal Course Issuer Bid & Reports...
12/11/2013(Cal)Quarterly Letter to Shareholders of Callinan Royalties Corpo...
12/5/2013Reports On 2013 Annual and Special Meeting of Shareholders
11/29/2013Royalties Releases Q1 Financial Statements & Announces Quart...
10/1/2013(Cal)Quarterly Letter to Shareholders of Callinan Royalties Corpo...
9/27/2013Royalties to Recommence Litigation and File Amended Claim Ag...
9/27/2013Royalties Releases Q4 and Year End Financial Statements
8/27/2013Royalties Recommences Litigation Against Hudbay Minerals
8/23/2013Announces Quarterly Royalty Payments and Declares Quarterly ...
8/1/2013Royalties and Excelsior Mining Close Investment Agreement
7/23/2013Royalties and Excelsior Mining Enter Into an Investment and ...
7/23/2013Royalties and Excelsior Mining Enter Into an Investment and ...
5/29/2013Royalties Releases Q3 Financial Statements and Announces Qua...
2/13/2013Announces Quarterly Royalty Payments
9/27/2012Clarifies Number of Outstanding Shares
8/16/2012Announces Quarterly Royalty Payments
7/10/2012Royalties has published a News Release
5/31/2012Royalties has published a News Release
5/16/2012Royalties has published a News Release
4/27/2012Royalties has published a News Release
3/15/2012Royalties has published a News Release
3/1/2012Royalties has published a News Release
2/15/2012Royalties has published a News Release
12/14/2011Royalties has published a News Release
9/8/2011Royalties has published a News Release
8/23/2011Royalties has published a News Release
7/14/2011(Cal)Closes Arrangement and Changes Name to Callinan Royalties Co...
7/6/2011(Cal)Announces Effective Date of Arrangement and Proposed Listing...
7/4/2011(Cal)Manitoba Court Rules in Callinan's Favour: Access to Auditor...
6/9/2011(Cal)receives shareholder approval and final court order for Arra...
6/2/2011Releases Q3 Financial Statements
5/20/2011Receives Net Profits Interest Payment from HudBay Minerals
4/18/2011(Pine)Gossan Hill Results Show Greater Widths, Drilling to Commenc...
1/12/2011Mike Muzylowski to be Inducted into Canadian Mining Hall of ...
9/3/2009Options Island Lake Claims and Plans Exploration Program
8/14/2009Receives Net Profits Interest Payment from HudBay Minerals
2/12/2009Receives Net Profits Interest Payment from HudBay Minerals
1/26/2009Phillips Lake Drill Permits Received
11/19/2008Metallurgical Study Completed On CAL Claims
11/14/2008Receives Net Profits Interest Payment from HudBay Minerals
11/14/2008Encouraging Assays Returned from Coles Creek
8/14/2008Receives Largest Quarterly NPI Payment To Date
6/17/2008Plans Summer Drill Program for Dion Lake Uranium Claims
5/9/2008Present at the Hard Assets Conference in New York
4/7/2006(Rayfield)and Bell locate strong conductive target at Fox River
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