Calibre Mining Corp.’s (TSX: CXB) (OTCQX: CXBMF) most recent high grade returns from its 2024 drill results at the Eastern Borosi Mine Complex in Nicaragua show the potential for mine expansion beyond the previously stated life of mine.
The company announced this on Tuesday as part of its resource conversion and expansion within the Guapinol open pit area.
Gold highlights from the Eastern Borosi drill program include:
- 13.24 g/t Au over 5.8 metres Estimated True Width (ETW) including 18.52 g/t Au over 4.0 metres ETW in Hole GP-24-182;
- 9.24 g/t Au over 6.2 metres ETW including 17.45 g/t Au over 3.1 metres ETW in Hole GP-24-189;
- 11.62 g/t Au over 3.8 metres ETW including 22.36 g/t Au over 1.9 metres ETW in Hole GP-24-187;
- 9.25 g/t Au over 1.6 metres EW including 12.70 g/t Au over 1.1 metres ETW in Hole GP-24-179;
- 7.81 g/t Au over 8.6 metres ETW including 16.61 g/t Au over 3.7 metres ETW in Hole GP-24-181;
- 3.37 g/t Au over 2.9 metres ETW including 6.13 g/t Au over 1.4 metres ETW and 3.31 g/t Au over 7.3 metres ETW including 8.15 g/t Au over 1.6 metres ETW and 6.67 g/t Au over 0.8 metres ETW in Hole GP-24-178A; and
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5.01 g/t Au over 4.5 metres ETW including 8.59 g/t Au over 2.5 metres ETW in Hole GP-24-186.
Additionally, this prolific land package is adjacent to a larger Atlantic Mineral Concession package. The area holds high potential for discovering both epithermal gold-silver and porphyry copper-gold systems.
Map of Eastern Borosi in Nicaragua. Image via Calibre Mining.
Read more: Calibre Mining’s latest finances show fifth straight year of growth
Read more: Calibre Mining gets environmental permits for Volcan deposit in Nicaragua
Successes in Nicaragua show efficiency of hub and spoke
Earlier this month, Calibre made its first ore shipment from Volcan’s open pits to the Libertad Mill demonstrating the efficiency of its hub and spoke strategy. Volcan will be a significant contributor to Calibre’s gold production yield for the remainder of 2024.
This is where multiple satellite deposits feed ore to central processing facilities, maximizing efficiency and reducing operational costs.
This continues a trend that started in 2020, when Calibre developed the Pavon mine and began transporting ore to the La Libertad mill. In early 2023, Calibre also started transporting ore from the Eastern Borosi Project to the same mill.
The company’s key processing hubs are the La Libertad and El Limon mills, which receive ore from several nearby mines, including the Pavon and Eastern Borosi projects. This approach allows Calibre to optimize resource allocation, extend the life of its processing facilities, and quickly bring new discoveries into production.
In October 2019, Calibre acquired full ownership of the mines and mills at La Libertad and El Limon from B2Gold Corp (TSX: BTO) (NYSE: BTG) (NSX: B2G) , along with several exploration projects in Nicaragua.
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