Calibre Reports Positive Higher-Grade Near Surface Drilling at Its Pan Gold Mine, Nevada; Initial Results Include 3.84 g/t Gold over 15.2 metres and 2.08 g/t Gold Over 27.4 Metres
21 Junio 2023 - 5:00AM
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the
"Company" or "Calibre") is pleased to announce assay results from
the 2023, near-mine discovery, delineation, and resource expansion
drill program at its 100% owned Pan Mine (“Pan”), located on the
prolific Battle Mountain – Eureka gold trend, Nevada. Results at
the Palomino target located immediately south of the open pit
operation indicate higher grades than demonstrated at the Pan mine
in the current Mineral Resource. The potential exists now to
materially increase resource ounces, grade, and confidence south of
the Pan mine. The Palomino deposit remains open to the southeast
and at shallow depths.
Highlights from the Palomino target
include:
- 3.84 g/t Au over 15.2 metres
including 4.19 g/t Au over 13.7 metres in Hole PR23-026;
- 2.08 g/t Au over 27.4 metres
including 2.67 g/t Au over 19.8 metres in Hole PR23-058;
- 2.02 g/t Au over 27.4 metres
including 2.19 g/t Au over 24.4 metres in Hole PR23-030;
- 1.89 g/t Au over 12.2 metres
including 2.45 g/t Au over 9.1 metres in Hole PR23-062;
- 1.15 g/t Au over 15.2 metres
including 2.44 g/t Au over 3.1 metres in Hole PR23-036;
- 1.09 g/t Au over 25.9 metres in
Hole PR23-034;
- 1.02 g/t Au over 27.4 metres
including 1.18 g/t Au over 13.7 g/t Au in Hole PR23-037; and
- All drill targets are located near
surface in oxidized limestone.
Note: All holes were drilled at
angles of -45 to -90 degrees at azimuths designed to intersect
targeted structures as nearly as possible to perpendicular when
possible. Some drill holes and intercepts reported here did not
cross mineralization perpendicularly, and do not represent exact
‘true widths.
Darren Hall, President, and Chief
Executive Officer of Calibre stated: “Pan’s average
reserve grade is 0.4 g/t gold, therefore these higher-grade near
surface results are very encouraging. Although a small amount of
material at Palomino exists in the Inferred Resource category, we
expect to see substantially more ounces at higher grades.
Operationally, given proximity to the current South Pit and this
deposit is within our permitted disturbance area, we could act on
this as early as next year. Drilling is ongoing at Palomino and
will shift to the south in July toward our Coyote discovery made
late last year.”
Link 1 – FiguresLink
2 – Drilling Table
Quality Assurance/Quality
Control
Calibre Mining maintains a Quality
Assurance/Quality Control (“QA/QC”) program for all its exploration
projects using industry best practices. Key elements of the QA/QC
program include the insertion of assay standards, blanks, and
duplicates in the sample stream to ensure the assay lab results are
within specified performance levels. All assay batches passed QAQC.
Collar surveys are conducted by a mine surveyor using a Trimble
instrument. Down hole deviation surveys are provided by trained
drill crews operating a north-seeking gyroscope supplied by REFLEX.
Collar and downhole surveys are verified by Calibre geologists. RC
drilling was performed by Alford Drilling from Elko, Nevada. Assays
were performed by Bureau Veritas, Reno where fire assays were
determined on a 30-gram charge with an AAS finish. Cyanide leach
assays were also completed Bureau Veritas carries ISO/IEC
17025:2017 certification.
Qualified Person
The scientific and technical information
contained in this news release was approved by David Schonfeldt
P.Geo, Calibre Mining’s Corporate Chief Geologist and a "Qualified
Person" under National Instrument 43-101.
ON BEHALF OF THE BOARD
"Darren Hall"
Darren Hall, President and Chief Executive
Officer
For further information, please
contact:Ryan KingSenior Vice President,
Corporate Development & IRT: (604) 628-1012E:
calibre@calibremining.comW: www.calibremining.com
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed, Americas
focused, growing mid-tier gold producer with a strong pipeline of
development and exploration opportunities across Nevada and
Washington in the USA, and Nicaragua. Calibre is focused on
delivering sustainable value for shareholders, local communities
and all stakeholders through responsible operations and a
disciplined approach to growth. With a strong balance sheet, a
proven management team, strong operating cash flow, accretive
development projects and district-scale exploration opportunities
Calibre will unlock significant value.
Cautionary Note Regarding Forward Looking
Information
This news release includes certain
"forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of
applicable Canadian securities legislation. All statements in this
news release that address events or developments that we expect to
occur in the future are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
identified by words such as "expect", "plan", "anticipate",
"project", "target", "potential", "schedule", "forecast", "budget",
"estimate", "intend" or "believe" and similar expressions or their
negative connotations, or that events or conditions "will",
"would", "may", "could", "should" or "might" occur. Forward-looking
statements in this news release include, but are not limited to:
the Company’s expectations toward higher grades mined and processed
going forward; statements relating to the Company’s 2023 priority
resource expansion opportunities; the Company’s metal price and
cut-off grade assumptions; the Company’s plans for the Pan Mine for
2023, including production and exploration and its contribution to
production growth. Forward-looking statements necessarily involve
assumptions, risks and uncertainties, certain of which are beyond
Calibre's control. For a listing of risk factors applicable to the
Company, please refer to Calibre's annual information form (“AIF”)
for the year ended December 31, 2022, and its management discussion
and analysis (“MD&A”) for the year ended December 31, 2022, all
available on the Company’s SEDAR profile at www.sedar.com. This
list is not exhaustive of the factors that may affect Calibre's
forward-looking statements such as potential sanctions implemented
as a result of the United States Executive Order 13851 dated
October 24, 2022.
Calibre's forward-looking statements are based
on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information
available to management at such time. Such assumptions include but
are not limited to: the Company being able to mine and process
higher grades and keep production costs relatively flat going
forward; there not being an increase in production costs as a
result of any supply chain issues or ongoing COVID-19 restrictions;
there being no adverse drop in metal price or cut-off grade at the
Company’s Nevada properties. Calibre does not assume any obligation
to update forward-looking statements if circumstances or
management's beliefs, expectations or opinions should change other
than as required by applicable securities laws. There can be no
assurance that forward-looking statements will prove to be
accurate, and actual results, performance or achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements. Accordingly, undue reliance should not
be placed on forward-looking statements.
Calibre Mining (TSX:CXB)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Calibre Mining (TSX:CXB)
Gráfica de Acción Histórica
De May 2023 a May 2024