Calibre Mining receives permits for Eastern Borosi, Nicaragua
Calibre Mining Corp. [CXB-TSX; CXBMF-OTCQX] was granted the key environmental permits for the development and production of the open-pit and underground mines within the Eastern Borosi project (EBP), Nicaragua, from the corresponding Nicaraguan authorities.
The company has signed a two-year contract with CEPAM (Comercializadora de Energia para America), ensuring that 100% of the power purchased for the Nicaraguan operations is certified clean energy.
The agreement eliminates all of Calibre’s Scope 2 (purchased electricity) carbon emissions in Nicaragua, representing approximately 30% of the total emissions (CO2e) within the country.
Calibre is advancing the high-grade EBP open pit and underground satellite deposits expected to be in production during 2023 feeding into the company’s Libertad processing facility. EBP represents Calibre’s third major environmental mine development approval within three years, demonstrating the company’s unyielding commitment to stakeholder engagement and transparent communications within a clearly defined mining regulatory environment. EBP is a large 176 km2 land package with numerous low sulphidation gold-silver vein targets and strong potential for discovery of new zones and expanded resources.
Darren Hall, President and CEO, stated: “Approval of the EBP permits mark another significant milestone in the Company’s efforts to organically grow gold production. The permits were obtained three months ahead of schedule thanks to a positive community engagement process and successful public consultation. This success will allow Calibre to develop EBP and to contribute to the improvement of the quality of life of host communities in the Atlantic Region of Nicaragua.
“With open pit reserves at EBP grading 6.8 g/t gold in combination with the high grade 6.5 g/t gold reserves at Pavon Central, we remain on track for grade-driven production increase in 2023.
“By purchasing clean energy rather than non-renewable power, as of 2022, Calibre will have zero Scope 2 CO2e emissions in Nicaragua. This is a material achievement of our sustainability strategy, through which we seek to join efforts in response to global challenges such as climate change.
“Additionally, the Company received environmental approval to begin drilling on the La Fortuna concession located approximately 50 km southwest of the Libertad mill facility. La Fortuna represents an exciting undrilled epithermal gold opportunity as confirmed by field work completed over the past 12 months. A drill has been mobilized to La Fortuna with a first pass program to begin early November. Additionally, Calibre was recently granted three new mineral concessions and has begun reconnaissance stage exploration work.”
In its ongoing concession management program, since 2020, Calibre has submitted 44 concession applications in Nicaragua. Of these, 27 concessions have been granted, 14 continue in the consultation process and, in June 2022, the company elected to desist with its applications for two full concessions and part of a third.