Calibre Mining drills 2.25 g/t gold over 15.30 metres at Valentine, Newfoundland

Share this article

Calibre Mining Corp. [TSX-CXB; OTCQX-CXBMF] reported drill results from its 2024 exploration program within its 250-km2 Valentine gold mine complex in central Newfoundland and Labrador, Canada. Today’s results are located immediately southwest of the Leprechaun deposit, on the edge of the open pit (2022 mineral reserves of 15.1 million tonnes grading 1.73 g/t gold containing 840,000 ounces), one of the three open pits at Valentine.

Highlights from the Leprechaun Southwest drill program include 2.25 g/t Au over 15.30 metres estimated true width (ETW), including 24.68 g/t Au over 0.85 metre ETW in hole LS-24-002; 1.87 g/t Au over 11.57 metres ETW, including 9.26 g/t Au over 0.89 metre in hole LS-14-007; 36.83 g/t Au over 0.91 metre ETW in hole LS-24-010; and 13.32 g/t Au over 0.85 metre ETW in hole LS-24-011.

Darren Hall, president and CEO, stated: “Today’s drill results reinforce the vast potential of the 32 km long Valentine Lake shear zone (VLSZ). Initial 2024 drilling intersected near-surface gold mineralization outside of the current mineral reserve block model and in two holes outside of the Leprechaun mineral resource model. This new mineralization is located between 100 and 175 metres south of the recent high-grade ore control drilling and both areas remain open for expansion.

“This, coupled with earlier positive results from the Frank zone, located approximately o1 km south of today’s Leprechaun results, indicates potential for further expansion at near-mine targets. This year, we plan to follow up with additional drilling on numerous targets in this area along the VLSZ towards Frank and infilling between the holes highlighted in this release.”

These initial 2024 drill results tested new targets up to hundreds of metres from the high-grade ore control reverse circulation holes, as detailed in the news release dated February 14, 2024. From that infill program, several high-grade intercepts, including 46.53 g/t over 5.3 metres, indicate significant gold mineralization outside of the current mineral reserve block model and remain open for expansion.

New, near-surface, in-pit gold mineralization was discovered, demonstrating upside potential to the 2022 mineral resource statement. Additional zones of mineralization have been identified and remain open along strike and at depth and will be followed up in coming drill programs. These results are within the three-pit mine plan covering only 6 km of the underexplored 32-km VLSZ, the main control of gold mineralization at Valentine.

Calibre Mining is a Canadian-listed, Americas-focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland and Labrador in Canada, Nevada and Washington in the United States, and Nicaragua.

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *