Calibre Mining drills 17.45 g/t gold over 4.1 metres at Panteon, Nicaragua
Calibre Mining Corp. [CXB-TSX; CXBMF-OTCQX] has released the results from step-out drilling along the Panteon VTEM (versatile time-domain electromagnetic) gold corridor within the 100%-owned Limon mine complex, Nicaragua. These new intercepts continue to demonstrate the potential of the multi-kilometre long structure identified by our 2022 VTEM geophysical survey released on December 8, 2022). Today’s results are located more than 2 km north of Panteon North which has had numerous bonanza grade gold intercepts to-date as evidenced in our most recent press release here.
The Panteon North Maiden Reserve estimate added positively to the company’s 2022 Mineral Reserve statement adding approximately 244,000 ounces of gold (0.8 Mt at 9.45 g/t) to the Nicaragua Mineral Reserves.
New drill intercept along the Panteon VTEM Geophysical Gold Corridor includes 17.45 g/t gold over 4.1 metres Estimated True Width (ETW) including 38.45 g/t gold over 1.8 metres ETW in Hole LIM-22-4736.
December 8, 2022 initial discovery drill results along the Panteon VTEM Gold Corridor include 11.61 g/t gold over 9.3 metres ETW including 23.93 g/t gold over 1.7 metres ETW, and 15.34 g/t gold over 3.9 metres ETW in Hole LIM-22-4701, 6.73 g/t gold over 2.1 metres ETW in Hole LIM-22-4689, and 3.67 g/t gold over 2.6 metres ETW, including 11.10 g/t gold over 0.7 metres ETW in Hole LIM-22-4684.
New Panteon North drill results outside year-end 2022 Reserve and Resources include 29.68 g/t gold over 4.3 metres ETW in Hole LIM-22-4724; 24.03 g/t gold over 2.0 metres ETW in Hole LIM-22-4718; 12.97 g/t gold over 1.1 metres in Hole LIM-22-4712; 12.18 g/t gold over 3.7 metres ETW in Hole LIM-22-4710; 11.57 g/t gold over 2.4 metres ETW in Hole LIM-22-4717; 6.14 g/t gold over 4.9 metres ETW including 14.47 g/t Au over 1.8 metres ETW in Hole LIM-22-4705, and 9.17 g/t gold over 1.1 metres ETW in Hole LIM-22-4732; 5.75 g/t gold over 1.5 metres ETW in Hole LIM-22-4727.
Darren Hall, President and CEO, stated: “Our 2022 drilling campaign was very successful, with the discovery of the high-grade Panteon North gold shoot which hosts a maiden Mineral Reserve of 244,000 ounces of gold (0.8Mt grading 9.45 g/t gold). I am encouraged that our team continues to intersect high-grade drill results along the VTEM Gold Corridor demonstrating the potential to expand the initial Panteon North reserve and make new discoveries.
“Given the excess capacity in our Libertad plant, and our proven operating strategy, new discoveries can quickly become accretive for us. With two drill rigs active on the Panteon VTEM gold corridor and four rigs across our Nicaraguan projects, we will complete over 60km of drilling in Nicaragua and look forward to the additional drill results from our 2023 program.”