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VANCOUVER, British Columbia, June 08, 2021 (GLOBE NEWSWIRE) — Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Firm” or “Calibre”) is happy to offer an replace on the Firm’s 80,000 metre, 2021 drilling program, highlighting outcomes of exploration and useful resource enlargement drilling on the Firm’s Libertad concessions.
Highlights
Volcán Vein
- 11.37 g/t Au over 5.4 metres ETW (“Estimated True Width”) from 61.4 metres (VN-21-026)
- 9.26 g/t Au over 1.7 metres ETW from 76.9 metres (VN-21-030A)
- 2.37 g/t Au over 6.2 metres ETW from 67.2 metres (VN-21-032)
Tranca Vein
- 16.78 g/t Au over 2.8 metres ETW from 41.9 metres (TR-21-039)
- 13.83 g/t Au over 4.4 metres ETW from 127.7 metres (TR-21-052)
- 3.27 g/t Au over 4.1 metres ETW from 107.1 metres (TR-21-031)
2021 Calibre Drill Program
- 16 drill rigs at present energetic on Calibre’s 100% owned properties
- Calibre is guiding 170,000 – 180,000 ounces of gold manufacturing for the yr, producing sturdy money flows to self-fund new development alternatives and an intensive 80,000 metre exploration and infill drilling program
Darren Corridor, President & Chief Government Officer of Calibre, acknowledged: “We’re excited to see some new high-grade zones rising at Libertad. The district has produced over 1.9 million ounces of gold and we proceed to determine alternatives for extra ore sources near the Libertad mill. We’re very inspired by the preliminary outcomes of our first go drilling marketing campaign alongside the Volcán pattern the place we’ve confirmed the presence of high-grade gold mineralization in at the least two zones alongside a 1.5 kilometre vein system that up to now stays largely unexplored.”
“Drilling at Tranca continues to delineate a zone of close to floor gold mineralization with good potential for an open pit mineral useful resource. At Rosario, step-out drilling is testing the potential to increase the present gold useful resource one other 200 metres alongside strike to the southwest. At present three rigs are working at Libertad plus one on the Amalia satellite tv for pc concession situated 35 kilometres away.”
“Along with the drilling packages at our 100% owned properties, our associate Rio Tinto just lately commenced its 2021 exploration drilling marketing campaign focusing on giant porphyry model copper + gold targets, a part of the Borosi three way partnership venture through which Calibre is the present operator. At present we have now one drill working at Borosi and plan so as to add a second drill throughout the coming weeks.”
Exploration Drilling
The Volcán vein system is situated roughly 4 kilometres south of the Libertad mill. Earlier exploration drilling accomplished in 2012 and 2017 testing the higher 100 metres in two areas alongside the system returned a number of high-grade intercepts together with 9.69 g/t Au over 10.7 metres ETW from 49 metres in gap VN-17-009; 10.56 g/t Au over 4.5 metres ETW from 41.2 meters in holes VN-17-013; and 5.78 g/t Au over 4.1 metres from 111.2 metres in gap VN-17-021 (historic drill outcomes are supplied within the hooked up tables). Preliminary outcomes acquired from this yr’s drilling program have confirmed the presence of close to floor gold mineralization alongside the Volcán pattern which stays open alongside strike and at depth. The Firm plans to proceed drilling at Volcán with a second marketing campaign of step-out exploration holes drilled alongside strike to check the continuity of mineralization between the 2 zones and the potential for high-grade mineralization to increase at depth.
The Tranca vein system is situated roughly 9 kilometres east of the Libertad mill and 500 metres south of the Jabali underground mine at present in operation. Since early 2020, Calibre has been drilling alongside a 1.5 kilometre part of the Tranca pattern which has been traced for an additional 2.5 kilometres alongside strike to the east. Alongside strike to the west, the Tranca system extends into the Nancite prospect the place a number of veins happen. The Firm continues to be inspired by the continuity of gold grades and potential for greater grade shoots alongside the zone and plans to speed up exploration drilling with a second drill in the course of the coming weeks.
Useful resource Enlargement Drilling
Rosario Vein:
- 3.67 g/t Au over 8.0 metres ETW from 99.1 metres (RS-21-070)
- 2.34 g/t Au over 7.3 metres ETW from 130.8 metres (RS-21-069)
- 3.13 g/t Au over 4.0 metres ETW from 112.8 metres (RS-21-084)
- 4.02 g/t Au over 2.4 metres ETW from 69.8 metres (RS-21-085)
Jabali Vein:
- 5.45 g/t Au over 3.3 metres ETW from 30.4 metres (JB-21-536)
- 51.90 g/t Au over 0.8 metres ETW from 44.6 metres (JB-21-537)
Whereas we have now centered largely on exploration drilling this yr, we’re likewise happy with the outcomes of useful resource enlargement and infill drilling on the Rosario deposit the place we proceed to see alternatives to develop open pit mineral assets situated inside a brief trucking distance of the Libertad mill. At Jabalí, outcomes of a closing infill drilling marketing campaign will probably be built-in into the mineral useful resource estimate in help of future underground mine planning.
At Pavon, Calibre accomplished condemnation drilling and continues to discover alongside strike and down plunge of the Pavon Central and Norte veins together with on the just lately recognized Candida vein splay extending from the principle Pavon Norte deposit. At present, the Firm has two rigs working at Pavon and can proceed step out exploration drilling alongside strike and down dip of the principal vein programs.
Hyperlink 1 – PDF Figures
Hyperlink 2 – PDF Drill Hole Tables
High quality Assurance/High quality Management
Calibre maintains a High quality Assurance/High quality Management (“QA/QC”) program for all its exploration initiatives utilizing trade greatest practices. Key parts of the QA/QC program embody verifiable chain of custody for samples, common insertion of licensed reference requirements and blanks, and duplicate verify assays. Drill core is halved and shipped in sealed luggage to Bureau Veritas in Managua, Nicaragua, an impartial analytical companies supplier with international certifications for High quality Administration Techniques ISO 9001:2008, Environmental Administration: ISO14001 and Security Administration OH SAS 18001 and AS4801. Previous to evaluation, samples are ready at Veritas’ Managua facility after which shipped to its analytical facility in Vancouver, Canada. Gold analyses are routinely carried out through hearth assay/AA end strategies. For better precision of high-grade materials, samples assaying 10 g/t Au or greater are re-assayed by hearth assay with gravimetric end. Analyses for silver and different parts of curiosity are carried out through Induction Coupled Plasmaspectrometry (“ICP”).
Certified Individual
The scientific and technical knowledge contained on this information launch has been reviewed and permitted by Mark A. Petersen, P.Geo., VP Exploration, and a Certified Individual as outlined by NI 43-101.
ON BEHALF OF THE BOARD
“Darren Corridor”
Darren Corridor, President & Chief Government Officer
For additional info, please contact:
Ryan King
Senior Vice President, Company Improvement & IR
T: (604) 628-1012
E: calibre@calibremining.com
W: www.calibremining.com
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed gold mining and exploration firm with two 100%-owned working gold mines in Nicaragua. The Firm is targeted on sustainable working efficiency and a disciplined method to development. Because the acquisition of the Limon, Libertad gold mines and Pavon Gold Venture, Calibre has proceeded to combine its operations right into a “Hub-and-Spoke” working philosophy, whereby the Firm can make the most of dependable infrastructure, favorable transportation prices, and a number of high-grade mill feed sources that may be processed at both Limon or Libertad, which have a mixed 2.7 million tonnes of annual mill throughput capability.
Cautionary Word Relating to Ahead Wanting Data
This information launch contains sure “forward-looking info” and “forward-looking statements” (collectively “forward-looking statements”) throughout the which means of relevant Canadian securities laws. All statements on this information launch that tackle occasions or developments that we anticipate to happen sooner or later are forward-looking statements. Ahead-looking statements are statements that aren’t historic info and are recognized by phrases similar to “anticipate”, “plan”, “anticipate”, “venture”, “goal”, “potential”, “schedule”, “forecast”, “finances”, “estimate”, “intend” or “consider” and comparable expressions or their destructive connotations, or that occasions or situations “will”, “would”, “might”, “may”, “ought to” or “may” happen Ahead-looking statements essentially contain assumptions, dangers and uncertainties, sure of that are past Calibre’s management. For a list of threat components relevant to the Firm, please confer with Calibre’s annual info kind for the yr ended December 31, 2020, obtainable on www.sedar.com. This listing will not be exhaustive of the components that will have an effect on Calibre’s forward-looking statements.
Calibre’s forward-looking statements are based mostly on the relevant assumptions and components administration considers affordable as of the date hereof, based mostly on the knowledge obtainable to administration at such time. Calibre doesn’t assume any obligation to replace forward-looking statements if circumstances or administration’s beliefs, expectations or opinions ought to change aside from as required by relevant securities legal guidelines. There will be no assurance that forward-looking statements will show to be correct, and precise outcomes, efficiency or achievements may differ materially from these expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance shouldn’t be positioned on forward-looking statements.
