Calibre Mining (TSX: CXB)
Announced the 2024 exploration program and review of the exploration potential at the Valentine Gold Mine, located in Newfoundland.
One highlight was 46 gpt gold over 5.3m.
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CALIBRE’S VALENTINE GOLD MINE PROPERTY-WIDE EXPLORATION PROGRAM UNDERWAY WITH INITIAL DRILL PROGRAM SOUTHWEST OF THE LEPRECHAUN DEPOSIT FOLLOWING RECENT DISCOVERY DRILLING INCLUDING 46 G/T GOLD OVER 5.3 METRES
VANCOUVER, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) — Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce the 2024 exploration program and review of the exploration potential at the Valentine Gold Mine (“Valentine” or the “Mine”).
Valentine is located in the west-central region of Newfoundland & Labrador, Canada. The property is 250 square kilometres (“km”) and currently hosts five gold deposits with Measured and Indicated Resources of 4.0 million ounces and Inferred Resources of 1.1 million ounces1.
Additionally, numerous gold prospects and targets have been identified along the underexplored 32 km northeast-trending Valentine Lake Shear Zone (“VLSZ”) as well as below the existing open pit Mineral Resources.
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Valentine Gold Mine Drill Highlights Below Existing Open Pit Mineral Resources
Below Marathon Pit Historical Highlights Include:
- 150.27 g/t Au over 4.3 metres Estimated True Width (“ETW”) in hole MA-17-189
- 12.70 g/t Au over 4.2 metres ETW in hole MA-17-175;
- 38.25 g/t Au over 1.5 metres ETW in hole MA-17-201; and
- 25.69 g/t Au over 3.1 metres ETW in hole MA-18-285
Below Berry Pit Historical Highlights Include:
- 25.09 g/t Au over 1.8 metres ETW in hole VL-20-924;
- 20.49 g.t Au over 1.7 metres ETW in hole VL-21-1035;
- 14.90 g/t Au over 1.8 metres ETW in hole VL-20-950; and
- 24.15 g/t Au over 2.6 metres ETW in hole VL-21-956
Below Leprechaun Pit Historical Highlights Include:
- 16.64 g/t Au over 8.1 metres ETW in hole VL-19-693;
- 9.88 g/t Au over 7.2 metres ETW in hole VL-19-681;
- 9.85 g/t Au over 7.2 metres ETW in hole VL-19-686;
- 12.22 g/t Au over 4.5 metres ETW in hole VL-19-690; and
- 9.74 g/t Au over 3.6 metres ETW in hole VL-17-655
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Darren Hall, President, and Chief Executive Officer of Calibre stated:
“The 250 km2Valentine Land package offers considerable resource expansion and discovery potential as evidenced by the data presented in today’s news release.
“The 2024 exploration budget includes regional geophysics, drilling, till sampling, and trenching.
“Our initial exploration focuses on prioritizing new regional target identification along with resource expansion in previously drilled areas.
“Diamond drilling is underway at therecently announced high grade gold discoveryalong the southwest edge of the Leprechaun pit highlighting the strong resource expansion potential along the VLSZ toward the Frank Zone (“Frank”), which does not yet have Mineral Resources.
“Below the Marathon, Berry and Leprechaun pits the gold system remains open for expansion and we see excellent potential for additional high-grade gold mineralization as supported by drill results including 150.27 g/t Au over 4.3 metres.
“New discoveries combined with several exciting surface anomalies and high-grade exploration results, confirm the excellent potential within the Valentine region that is expected to yield a continuous flow of exciting discovery and resource-building results throughout 2024 and beyond.”
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To read the full news release, please click HERE
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Live spot metal prices 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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