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Monday, May 20, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Calibre Mining pulls high value gold and silver in Nicaragua

Mineral resource base and mine life extensions confirm mineral endowment of the district

Calibre Mining pulls high value gold and silver from Nicaragua mining operation
The Nicaragua gold minining operation at Limon. Image via Calibre Mining.

Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) produced high value gold results at its Eastern Borosi Mine Complex in northeastern Nicaragua.

On Monday, Calibre CEO Darren Hall said the high grade results combined with the mineral resource base and the potential for mine life extensions at the Guapinol operation work to confirm the mineral endowment of the district.

Gold highlights from the Eastern Borosi drill program include:

  • 6.87 g/t Au over 7.0 metres Estimated True Width (ETW) including 19.80 g/t Au over 1.1 metres ETW and 6.08 g/t Au over 3.8 metres ETW in Hole BL-23-118;

  • 5.72 g/t Au over 8.9 metres ETW including 8.21 g/t Au over 4.8 metres ETW and 7.50 g/t Au over 1.3 metres ETW in Hole BL-23-131;

  • 8.46 g/t Au over 5.8 metres ETW including 14.80 g/t Au over 2.9 metres ETW in Hole BL-23-133;

  • 7.06 g/t Au over 17.7 metres ETW including 14.70 g/t Au over 3.3 metres ETW and 12.69 g/t Au over 3.4 metres ETW and 8.92 g/t Au over 2.3 metres ETW in Hole BL-23-136;

  • 10.81 g/t Au over 3.4 metres ETW including 19.10 g/t Au over 1.8 metres ETW in Hole BL-23-143;

  • 9.64 g/t Au over 3.3 metres ETW in Hole BL-16-044; and

  • 5.77 g/t Au over 14.5 metres ETW including 14.00 g/t Au over 3.8 metres ETW and 10.00 g/t Au over 2.2 metres ETW in Hole GTH-BL-23-006.

3D models of individual veins provide the basis for estimating the true widths of reported vein intercepts.

Read more: Calibre Mining remains on track to deliver on its 2024 guidance of between 275-300K ounces

Read more: Calibre’s 2024 Valentine exploration program shows vast expansion potential, promising targets

High silver grades show potential for extra value

The differences in percentage between individual ETWs and down-hole interval lengths vary among drill holes. This variation depends on the inclination of the drill hole and the distinct geometries of the various vein systems.

“The exceptionally high silver grades demonstrate further potential to capture additional value in the future. During the second quarter of 2023, Calibre achieved a significant milestone as we commenced mining from our high-grade Guapinol open pit,” Hall said.

Hall attributes the success in developing and mining at Eastern Borosi to the company’s proactive stakeholder engagement and sustainability commitments. These efforts have significantly enhanced the quality of life for the host communities in the region.

Silver highlights from the Eastern Borosi drill program include:

  • 1,431.6 g/t Ag over 2.9 metres ETW including 1,240.5 g/t Ag over 1.4 metres ETW in Hole BL-15-018;

  • 642.3 g/t Ag over 5.0 metres ETW including 1,014 g/t Ag over 2.0 metres ETW in Hole BL-15-017;

  • 401.8 g/t Ag over 3.5 metres ETW including 925.0 g/t Ag over 1.3 metres ETW in Hole BL-23-111;

  • 318.1 g/t Ag over 1.5 metres ETW in Hole BL-23-112;

  • 307.3 g/t Ag over 2.7 metres ETW in Hole BL-23-115;

  • 227.0 g/t Ag over 9.0 metres ETW including 247.8 g/t Ag over 4.8 metres ETW and 437.0 g/t Ag over 1.3 metres ETW in Hole BL-23-131; and

  • 181.9 g/t Ag over 2.8 metres ETW including 288.5 g/t Ag over 1.7 metres ETW and 162.6 g/t Ag over 5.8 metres ETW including 225.2 g/t Ag over 2.9 metres ETW in Hole BL-23-133.

Read more: Calibre secures commissioning contract for Valentine plant; signs gold supply deal with Asahi

Read more: BMO underwriters agree to invest C$100M in Calibre Mining

The Eastern Borosi Property is known for high-grade gold-silver veins

Calibre owns the entire Eastern Borosi Gold-Silver Property, situated in the northeastern Nicaragua.  The property is known for its low-sulphidation, epithermal district and high-grade, gold-silver vein systems.

The property spans 176 square km and includes both open pit and underground resources such as Riscos de Oro, East Dome, Blag, and La Luna.  Additionally, it also includes the presently operating Guapinol/Vancouver open pit mine. These deposits feature numerous low sulphidation gold-silver vein systems. Presently, the Eastern Borosi property has an Indicated Mineral Resource totaling 1.031 million tonnes at 8.48 g/t gold, amounting to 281,000 ounces of contained gold, and an Inferred Mineral Resource of 2.895 million tonnes at 3.18 g/t gold, which contains 296,000 ounces of gold.

Additionally, a vast 7,281 square km land package surrounding the Eastern Borosi project, also entirely owned by Calibre, is prospective for porphyry, skarn, and epithermal vein deposits.

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 Calibre Mining is a sponsor of Mugglehead news coverage

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