After obtaining key environmental permits for development of Nicaragua’s Volcan deposit in July, Calibre Mining Corp (TSX: CXB) (OTCQX: CXBMF) made its first ore shipment from Volcan’s open pits to the Libertad Mill this week.
Volcan will be a significant contributor to Calibre’s gold production yield for the remainder of 2024.
“The addition of Volcan demonstrates the effectiveness of our hub and spoke operating strategy,” chief executive Darren Hall said, “with surplus capacity at the Libertad mill there remains strong potential for low cost, high return on investment growth.”
Calibre just added another spoke to its Nicaragua wheel with the addition of Volcan, five kilometres south of Libertad (the main hub). Map: Calibre Mining
Volcan and Valentine to drive up production
Calibre remains on track to fulfill its production guidance of 275,000-300,000 ounces this year. That guidance number will be increasing dramatically in 2025 when production begins at Canada’s Valentine gold mine. Continued contributions from the Volcan deposit will be help drive that number up too.
Construction of the Newfoundland mine site is 77 per cent complete and the necessary engineering work is 98 per cent concluded. Calibre joined the Mining Association of Canada in December prior to completing its takeover of Marathon Gold and the Valentine project in January.
Canadian gold and oil exports increased by 5.5 per cent in June with a C$638 million dollar trade surplus, according to new data from Statistics Canada.
Read more: Calibre Mining gets government nod for third open pit at Valentine Gold Mine
Read more: Calibre celebrates 3 years without lost time incidents at Nevada’s Pan Mine
Calibre plants over 125,000 trees in Nicaragua
In 2023, Calibre significantly offset the environmental footprint of its mining operations in Central America by planting thousands of trees.
A total of 129,260, precisely. Over 460,000 have been put in the ground since the company’s Nicaragua operations began in 2020.
Calibre’s entire environmental team was educated about hydroseeding last year: a mechanized method of planting.
We 💚trees.
Last year we produced 129,260 trees, and our environmental team in Nicaragua was trained in hydroseeding – mechanized planting to help revegetate the landscape. 🌳🌲
Learn more: https://t.co/2uCrdIKvad#Gold #Silver #CalibreMining #SustainableMining #Reforestation pic.twitter.com/o0yOm8GLUJ
— Calibre Mining Corp. (@CalibreMiningCo) August 7, 2024
Land rehabilitation and emission reductions a priority too
Calibre also rehabilitated 16.2 hectares of land in Nicaragua throughout 2023.
The company has reduced its greenhouse gas emissions by more than 20 per cent over the past four years.
In February last year, Calibre announced a 278 per cent increase to its Central America mineral reserves at about 1,082,000 ounces.
Calibre Mining is a sponsor of Mugglehead news coverage
rowan@mugglehead.com
