MMDF is providing $500,000 to Callinex Mines for a drilling program at the Pine Bay location, 16 km from Flin Flon. Phase one of the campaign is budgeted for up to 10,000 meters of
drilling that will focus on testing their Rainbow and Alchemist deposits. The completion of their drilling and exploration campaign is expected to lead to a development of a new mine.
Callinex recently announced that it has closed their previously announced brokered private placement offering for gross proceeds of approximately $9.4 million.