Calibre Mining Corp. (TSE: CXB) (OTCMRKTS: CXBMF) discovered high-grade drill results during its 2024 exploration program at the Limon Mine Complex in Nicaragua.
The company reported results on Monday from across the Limon property in Nicaragua, ranging from its VTEM gold corridor, approximate to the main Limon Norte open pit. Also, to the west side of the Talavera gold zone, which presently has no mineral resource.
Furthermore, drilling at the past-producing underground Talavera gold zone intersected 12.57 g/t Au over 7.1 metres ETW, including 26.65 g/t Au over 3.3 metres ETW and 4.29 g/t Au over 35.2 metres ETW, along with 3.24 g/t Au over 11.76 metres in Hole LIM-24-4979.
Eexploration of the Talavera deposit’s west extension has confirmed 750 metres of strike beyond historic workings. This drilling is expected to enhance Calibre’s year-end 2024 Mineral Resource estimate with the inclusion of a maiden Talavera Mineral Resource.
“These recent Limon drill results are among the best we have seen on the property since acquiring Limon in 2019,” said Darren Hall, CEO of Calibre Gold.
Hall highlighted that drilling at Talavera has identified gold mineralization extending 750 metres west of prior underground development. By integrating drilling results since 2019 with historic underground data and a recent structural interpretation, the company anticipates defining a substantial maiden resource for Talavera.
Along the VTEM Gold Corridor, recent assays have revealed exceptional near-surface grades over wide intervals. For instance, Hole LIM-24-4969 uncovered a new structure parallel to Panteon Norte, with 12.96 g/t Au over 19.9 metres ETW, located just 35 metres below surface.
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Drill results will drive increase in mineral resources at Nicaragua
In addition to the Hagie and Panteon Norte deposits, which together host over 330,000 ounces of Mineral Reserves averaging approximately 8.0 g/t gold, this newly discovered structure significantly boosts the potential for rapid resource expansion at Limon.
Hall expressed confidence that this year’s drilling results will drive an increase in Mineral Resources at Limon, with an updated estimate expected in early 2025.
The VTEM gold corridor includes results such as:
- 12.96 g/t Au over 19.9 metres ETW and 10.59 g/t Au over 13.5 metres ETW and 9.97 g/t Au over 6.9 metres ETW in Hole LIM-24-4969;
- Hole LIM-24-4969 discovered a new structure located 35 metres below surface, open for expansion in all directions;
- 5.39 g/t Au over 6.4 metres ETW in Hole LIM-24-4975;
- 14.64 g/t Au over 7.5 metres ETW including 31.88 g/t Au over 3.2 metres ETW in Hole LIM-24-4956;
In Nevada, Calibre Mining continues to advance its portfolio of high-grade, open-pit, and underground gold projects. The Pan Mine is a key asset known for its robust production potential and near-surface gold mineralization.
Calibre aims to maximize the value of these properties while contributing to its sustainable growth strategy through targeted drilling and operational optimization.
Meanwhile, in Newfoundland, Calibre Mining has been exploring and developing its high-grade gold deposits in the region. Furthermore, it’s been benefiting from favourable infrastructure and supportive local policies.
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Calibre Mining is a sponsor of Mugglehead news coverage
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joseph@mugglehead.com
