08:49 AM EDT, 04/15/2024 (MT Newswires) -- Callinex Mines ( CLLXF ) on Monday reported results from the recently completed magnetotelluric geophysical survey on the company's Pine Bay project in the Flin Flon Mining District of Manitoba.

The company said the results of the survey provide support that the Descendent deposit continues at depth.

Callinex said a second "very strong" resistivity low anomaly starting 350 meters below the surface has been interpreted to reveal large target areas along VMS horizons that host the Rainbow and Pine Bay VMS deposits.

Conductive borehole pulse electromagnetic anomalies further strengthen the target areas identified by the MT survey, the company said. The MT survey data from the Pine Bay and Odin survey lines are being processed and will be released soon.

"The MT survey results over the Descendent deposit provide additional support for and strengthen our conviction of the potential of the company's newest discovery," said Max Porterfield, president and CEO. "Additionally, the emergence of a second stronger anomaly that correlates to existing base metals rich VMS horizons indicate the potential for multiple parallel deposits to exist in proximity to Descendent."