Calibre Mining (TSX: CXB)
Announced additional exciting results from its 2023 exploration and delineation drilling program at the Panteon VTEM Gold Corridor at the Limon Mine Complex.
Previous results led to the discovery of the Panteon North deposit which yielded over 240,000 ounces of Proven and Probable Mineral Reserves.
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Calibre Mining – El Limon Mine, Nicaragua
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| Calibre Mining | TSX: CXB |
| Stage | Production, development, exploration |
| Metals | Gold |
| Market cap | C$612m @ C$1.32 |
| Location | Canada, Nicaragua, USA |
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CALIBRE CONTINUES TO INTERCEPT BONANZA GRADE DRILL RESULTS ALONG THE MULTI-KILOMETRE PANTEON VTEM GOLD CORRIDOR AT THE LIMON MINE COMPLEX; DRILLING INTERSECTS INCLUDE 111.92 G/T GOLD OVER 4.1 METRES AND 33.60 G/T GOLD OVER 2.6 METRES
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VANCOUVER. British Columbia, Jan. 30, 2024 (GLOBE NEWSWIRE) —Calibre Mining Corp.(TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to announce additional exciting results from its 2023 exploration and delineation drilling program at the Panteon VTEM Gold Corridor at the Limon Mine Complex.
Previous results led to the discovery of the Panteon North deposit which yielded over 240,000 ounces of Proven and Probable Mineral Reserves (944,000 tonnes at 9.4g/t Au).
The continued high-grade success within the Limon Complex continues to confirm the potential for resource expansion in the region.
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Drill intercept highlights along the Panteon VTEM Geophysical Gold Corridor include:
- 111.92 g/t Au over 4.1 metres ETW in Hole LIM-23-4866;
- 15.63 g/t Au over 5.7 metres ETW including 33.60 g/t Au over 2.6 metres ETW in Hole LIM-23-4869;
- 36.07 g/t Au over 2.2 metres ETW in Hole LIM-23-4799;
Note: Estimated True Widths for reported vein intercepts are based on 3D models of the individual veins. Estimates are determined in cross-section by measuring the modelled vein thickness perpendicular to the vein margins and through the midpoint of the drill hole intercept. Percentage based differences between individual ETWs and down-hole interval lengths will vary between drill holes depending on drill hole inclination, variations in vein strike and dip, and overall geometries of the different vein systems.
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Darren Hall, President and Chief Executive Officer of Calibre, stated:
“I am very pleased to see continued drilling success along the multi-kilometre VTEM Gold Corridor at Limon.
“The latest results are impressive and show a combination of new high grades and broad widths which should prove beneficial for future production, providing further opportunity to leverage the surplus processing capacity at our Libertad mill.
“The Limon District continues to demonstrate its significant value, reinforcing our confidence that resource conversion and high-grade additions will be possible with these results.”
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Tom Gallo, Senior Vice President, Strategy and Growth of Calibre, stated:
“The team is stepping out along this gold corridor with a focus between these latest drill holes and Panteon North, an area of approximately 750m of strike.
“Additionally, large step out drill programs north and east toward the historic Santa Pancha project are underway.
“To date, we have drilled 250 m below surface and mineralization remains open at depth. As such, we are testing holes to a depth of up to 450 m to fully realize the untapped potential of this region.
“Limon is a priority during our 2024 drill program with approximately 50,000 m of drilling planned in and around the complex.”
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Calibre Mining.
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