Calibre Mining drills 3.84 g/t gold over 15.2 metres at Pan mine, Nevada

Calibre Mining Corp. [CXB-TSX; CXBMF-OTCQX] reported assay results from the 2023, near-mine discovery, delineation and resource expansion drill program at its 100%-owned Pan mine, located on the prolific Battle Mountain-Eureka gold trend, Nevada. Results at the Palomino target located immediately south of the open-pit operation indicate higher grades than demonstrated at the Pan mine in the current mineral resource. The potential exists now to materially increase resource ounces, grade and confidence south of the Pan mine. The Palomino deposit remains open to the southeast and at shallow depths.

Highlights from the Palomino target include 3.84 g/t gold over 15.2 metres, including 4.19 g/t gold over 13.7 metres in hole PR23-026; 2.08 g/t gold over 27.4 metres, including 2.67 g/t gold over 19.8 metres in hole PR23-058; 2.02 g/t gold over 27.4 metres, including 2.19 g/t gold over 24.4 metres in hole PR23-030; 1.89 g/t gold over 12.2 metres, including 2.45 g/t gold over 9.1 metres in hole PR23-062; 1.15 g/t gold over 15.2 metres, including 2.44 g/t gold over 3.1 metres in hole PR23-036; 1.09 g/t gold over 25.9 metres in hole PR23-034; and 1.02 g/t gold over 27.4 metres, including 1.18 g/t gold over 13.7 g/t gold in hole PR23-037.

All drill targets are located near surface in oxidized limestone.

Darren Hall, President, and CEO, stated: “Pan’s average reserve grade is 0.4 g/t gold, therefore these higher-grade near surface results are very encouraging. Although a small amount of material at Palomino exists in the Inferred Resource category, we expect to see substantially more ounces at higher grades. Operationally, given proximity to the current South Pit and this deposit is within our permitted disturbance area, we could act on this as early as next year. Drilling is ongoing at Palomino and will shift to the south in July toward our Coyote discovery made late last year.”