Calibre Mining Corp. (TSE: CXB) (OTMRKTS: CXBMF) announced the completion of a maiden Mineral Resource estimate for its Talavera Gold Deposit in Nicaragua on Wednesday.
The deposit has historically produced 800,000 gold ounces and is located three kilometres from the Limon mill.
Furthermore, the company’s 2024 year-end Mineral Resource statement will include an Inferred Mineral Resource of 3.8 million tonnes, averaging 5.09 g/t gold and containing 630,000 ounces of gold. Drilling has extended the historical mine and uncovered several parallel sub-vertically dipping veins. This has consequently lead to the delineation of this new resource.
Talavera also presents another opportunity within the prolific Limon property due to its proximity to the processing facility. Recent drilling at Talavera has intersected high-grade gold mineralization approximately 750 metres west of the past-producing Talavera underground mine. The resource remains open to the west, reinforcing the deposit’s discovery and expansion potential.
“Talavera offers strong expansion potential, with opportunities to leverage the existing underground infrastructure located adjacent to the resource from the past producing mine,” said Darren Hall, president and chief executive officer of Calibre.
“In 2025, our focus at Talavera will include expansion and delineation drilling while advancing environmental permits.”
Talavera is located west of the main Limon gold trend and processing plant. It was once an underground gold mine that produced about 800,000 ounces of high-grade gold in the 1990s. The deposit is part of a gold-rich vein system similar to the nearby Veta Nueva and Atravesada deposits.
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Talavera poised for future gold production
Recent drilling at Talavera has uncovered promising gold results. These include 12.57 grams per tonne (g/t) of gold over 7.1 metres, with a high-grade section of 26.65 g/t over 2.2 metres, and another area showing 4.29 g/t gold over 35.2 metres. Furthermore, the findings suggest strong potential for further gold discoveries.
“Given Talavera’s steeply dipping structure and the presence of several parallel gold-bearing zones, the deposit is well-suited for low cost, long-hole mining,” said Hall.
“Talavera is poised to contribute to our future gold production, aligning with our strategy of self-funded growth through discovery and operational excellence.”
In other news, earlier this month Calibre Mining announced its fourth consecutive year of compliance with the World Gold Council’s Responsible Gold Mining Principles (RGMPs).
The World Gold Council developed the RGMP to help gold mining companies adopt responsible practices in environmental, social, and governance (ESG) areas. These principles promote transparency, sustainability, and ethical conduct in the industry. They also ensure that companies actively manage their environmental impact, uphold human rights, and make positive contributions to local communities.
The company has effectively integrated RGMPs across its operations. Additionally, these reflect robust social management systems, thorough risk assessments, proactive stakeholder engagement, and comprehensive human rights due diligence. Calibre also completed a readiness review for the Conflict-Free Gold Standard, reinforcing its commitment to responsible sourcing and supply chain integrity.
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joseph@mugglehead.com
