VANCOUVER, British Columbia, Aug. 27, 2024 (GLOBE NEWSWIRE) — Calibre (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce additional, near surface, resource expansion drill results from its exploration programs at the Pan Heap Leach Gold Mine (“Pan”), located on the prolific Battle Mountain – Eureka gold trend in Nevada, USA.

Results at Pan continue to reveal gold grades higher than the stated Mineral Resource grade of 0.4 g/t gold ( see Calibre Delivers Fourth Consecutive Year of Mineral Reserve Growth news release here ).

Today’s drill results across the Pan mine property demonstrate the potential to increase resources, grade, mine life and confidence around the Pan mine.

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Highlights from the Nevada drill program include (Estimated True Width “ETW”):

• 0.45 g/t Au over 117.4 metres ETW in Hole PR24-113;
• 0.56 g/t Au over 59.4 metres ETW including 1.31 g/t Au over 9.1 metres ETW in Hole PR24-111;
• 0.46 g/t Au over 71.6 metres ETW in Hole PR23-208;
• 0.66 g/t Au over 36.6 metres ETW in Hole PR23-212 ;

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Darren Hall, President and Chief Executive Officer of Calibre, stated:

“Since acquiring Pan in early 2022, we have successfully increased Mineral Reserves by 50% net of two years of production depletion and with exploration success, we anticipate this trend could continue.

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“The majority of today’s drill results contain grades that are higher than our stated Mineral Reserve grade and, in many cases, sit outside our Mineral Reserve pit shell. These results bode well for longevity to Pan’s future mine life.

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“We remain focused on reinvesting in our future with a demonstrated track record of delivery and growing consolidated Mineral Reserves, after 825,000 ounces of production, over the last four years.

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“We continue to drill Pan and Gold Rock in Nevada, the multi-million-ounce Valentine Gold Mine in Newfoundland and Labrador with an additional 100,000 metre drill program underway and a multi-rig discovery and resource expansion drill program in Nicaragua.”

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To read the full news release, please click HERE

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The live gold price can be found HERE

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Disclosure

At the time of writing the author holds  shares in Calibre Mining.

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