Calibre Mining intersects bonanza gold at La Libertad

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Calibre Mining Corp. [CXB-TSXV; CXBMF-OTC] provided an update to the expanded 80,000-metre diamond drilling program at the 100%-owned La Libertad Mine in central Nicaragua.

Drilling resumed early in Q3 and initially focused on resource infill and expansion drilling, to be followed by first-pass drill testing of prospects. The company currently has 14 diamond rigs drilling and the results discussed below represent the initial results (post-resumption of drilling in July) from 5,146 metres of infill drilling from the Limon open pit, Panteon underground and Jabali West underground deposits, and  3,474 metres of initial resource expansion and exploration drilling at the Rosario and Tranca prospects at Libertad.

Infill drilling results

Panteon underground deposit:
• 149.36 g/t gold over 4.8-metre estimated true width (ETW) from 314.1 to 319.5 m in LIM20-4444;
• 13.71 g/t gold over 2.8 metres ETW from 232.6 to 236.6 m in LIM20-4446;
Limon open pits:
• 14.79 g/t gold over 3.3 metres ETW from 34.6 to 38.7 m in LIM20-4439;
• 9.57 g/t Au over 4.4 metres ETW from 25.4 to 30.1 m in LIM20-4443;
• 7.21 g/t gold over 7.6 m ETW from 57.4 to 65.0 m;
Jabali West underground deposit:
• 7.54 g/t gold over 1.7 metres ETW from 296.3 to 298.2 m;
• 5.46 g/t gold over 7.3 metres ETW from 307.1 to 315.1 m, both in JB20-492.

Initial resource expansion and exploration drilling results
Rosario gold prospect:
• 2.23 g/t gold over 4.4 metres ETW from 162.8 to 167.8 m in RS20-048;
• 2.10 g/t gold over 2.8 metres ETW from 179.8 to 182.9 m in RS20-049;
• 2.32 g/t gold over 7.4 metres ETW from 128.3 to 138.4 m in RS20-051.
Tranca gold prospect:
• 1.07 g/t gold over 3.8 metres ETW from 184.7 to 189.7 m in TR20-013.

Russell Ball, CEO, stated: “With roughly 10% of the expected assays in hand, I am encouraged with the numerous opportunities in front of us. The drilling program has ramped up nicely and we expect to be drilling approximately 12,000 metres a month for the balance of the year.

“At Panteon, we are outlining two distinct, high-grade ore shoots, including a new, bonanza-grade intercept of 149.4 g/t gold over 4.8 metres. We recently transitioned from infill drilling to resource expansion drilling along strike to the southeast where the Panteon and Santa Pancha veins intersect, as well as down plunge at both high-grade ore shoots.

“Over the past quarter, we have advanced development from Santa Pancha to Panteon and expect to begin mining ore from Panteon in the first quarter of 2021, which will be processed at the Libertad complex as part of our hub-and-spoke strategy to maximize value.”

Panteon is located approximately 150 metres west of the Santa Pancha underground mine.


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