Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) continues to expand its high-grade gold mineralization at its Limon Mine complex after results from its resource expansion and infill drilling program arrived this week.
On Tuesday the company announced that the initial results include 9.67 g/t gold over 13.3 metres and 8.94 g/t gold over 10.1 metres. The high-grade Atravesada underground deposit is located within the Limon mine complex, which is 2 kilometres from the Limon processing plant.
Drill intercept highlights at the Atravesada underground deposit include:
- 9.67 g/t Au over 13.3 metres ETW including 15.77 g/t Au over 7.9 metres ETW in Hole LIM-22-4711
- 15.32 g/t Au over 4.3 metres ETW including 28.71 g/t Au over 2.3 metres ETW in Hole LIM-22-4715
- 8.94 g/t Au over 10.1 metres ETW including 22.43 g/t Au over 3.3 metres ETW in Hole LIM-22-4719
- 7.66 g/t Au over 7.1 metres ETW including 14.55 g/t Au over 3.4 metres ETW in Hole LIM-22-4725
- 16.30 g/t Au over 1.9 metres ETW including 30.50 g/t Au over 1.0 metres ETW in Hole LIM-22-4729
- 6.22 g/t Au over 8.9 metres ETW including 11.07 g/t Au over 4.3 metres ETW in Hole LIM-22-4734
“I am pleased to see such high grade in proximity to existing underground development within the Limon Mining Complex which has produced more than four million ounces of gold,” Calibre CEO Darren Hall said in a statement.
“Drilling at Atravesada has returned high-grade intercepts over significant widths which the team anticipates will lead to additional resources and reserves.”
El Limon property. Map via Calibre Mining.
Read more: Calibre Mining reports record breaking sales and increased net income in Q2
Read more: Calibre Mining expands resources from open pit at Nevada’s Pan Gold Mine
Calibre has been making strides in its high-grade discoveries not only in Nicaragua, where the El Limon mine is located but also in the Eureka trend where it runs the Pan Mine.
Recently, analysts from Haywood Securities Inc. said they were “gobsmacked” by the company’s high grades. The results have been described as the best ever seen on Pan, not only in terms of grade and grade-thickness characteristics but also the inherent continuity of such mineralization within the plane of the system, and its shallow nature.
In a different analysis by Bank of Montreal (TSX: BMO), Calibre’s Q1/23 financials were analyzed, revealing in-line earnings and setting the stage for substantial growth in 2023. In other recent reports by analysts from Global Equity Research published by the Bank of Nova Scotia (TSX: BNS), Calibre’s growth in Nicaragua was highlighted. The bank had an overall positive analysis from the second report, which was attributed to recent high-grade intercepts from the past-producing Talavera Mine within Nicaragua’s Limon Mine Complex, which included 18.09 g/t gold over 5.7 metres and 4.45 g/t Au over 20.9 metres.
Company stock stayed flat at $1.44 on the Toronto Stock Exchange.
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