Calibre Reports High-Grade Drill Results From its Talavera Deposit Within the Limon Mine Complex; Initial Results Include 15.46 g/t Gold Over 6.7 Metres and 10.58 g/t Gold Over 7.9 Metres
17 Maggio 2023 - 12:00PM
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the
"Company" or "Calibre") is pleased to announce results from its
drill program at the past producing Talavera mine, now known as the
Talavera extension (“Talavera”), located within the Limon Mine
Complex 3 km from the Limon processing plant. These new intercepts
continue to demonstrate the resource expansion and new discovery
potential at the Limon mine complex.
Drill intercept highlights at Talavera
include:
- 10.22 g/t Au
over 4.2 metres including 15.25 g/t Au over 2.0 metres; 15.46 g/t
Au over 6.7 metres including 18.09 g/t Au over 5.7 metres; 10.58
g/t Au over 7.9 metres including 15.18 g/t Au over 2.9 metres in
Hole LIM-22-4688;
- 3.89 g/t Au
over 2.5 metres including 5.85 g/t Au over 1.5 metres; 4.45 g/t Au
over 20.9 metres including 8.09 g/t Au over 5.4 metres and 6.69 g/t
Au over 3.5 metres; 9.31 g/t Au over 3.1 metres in Hole
LIM-22-4677;
- 3.92 g/t Au
over 3.6 metres in Hole LIM-22-4673;
- 4.10 g/t Au
over 4.2 metres in Hole LIM-22-4721.
Note: True widths are unknown
as several generations of gold bearing veins exist. As a result,
the Company will advance a structural study employing the use of
downhole televiewer technology to determine vein orientations.
Darren Hall, President, and Chief
Executive Officer of Calibre stated: “I am encouraged by
these initial results from the drill program at Talavera, which is
located only 3 km west of the Limon processing plant. While not
currently included in the Company’s Mineral Resources, Talavera is
a former underground producer with past production of 800,000
ounces of high-grade ore and represents another opportunity to grow
our resource base given the multiple high-grade vein sets.
We see excellent exploration opportunities
across our portfolio of assets I look forward to sharing the
results as our 2023 drilling programs progress.”
About the Talavera
Extension
Located west of the main El Limon trend and
mill, Talavera is a former underground mining area with past
production, during the 1990s, of approximately 800,000 ounces of
high grade, low sulphidation gold and has the potential for
resource expansion on parallel veins. The Talavera deposit is an
epithermal vein trend consisting of high-grade vein shoots along
strike of the productive Veta Nueva and
Atravesada vein systems. Historic drill results include
7.4 g/t Au over 10.42 metres (LIM-05-3334), and 18.0 g/t Au over
5.93 metres (LIM-04-335) (see press release dated February 3,
2022).
Link 1 – FiguresLink
2 – Drilling Tables
Quality Assurance/Quality
Control
Calibre maintains a Quality Assurance/Quality
Control ("QA/QC") program for all its exploration projects using
industry best practices. Key elements of the QA/QC program include
verifiable chain of custody for samples, regular insertion of
certified reference standards and blanks, and duplicate check
assays. Drill core is halved and shipped in sealed bags to Bureau
Veritas in Managua, Nicaragua, an independent analytical services
provider with global certifications for Quality Management Systems
ISO 9001:2008, Environmental Management: ISO14001 and Safety
Management OH SAS 18001 and AS4801. Prior to analysis, samples are
prepared at Veritas' Managua facility and then shipped to its
analytical facility in Vancouver, Canada. Gold analyses are
routinely performed via fire assay/AA finish methods. For greater
precision of high-grade material, samples assaying 10 g/t Au
or higher are re-assayed by fire assay with gravimetric finish.
Analyses for silver and other elements of interest are performed
via Induction Coupled Plasma (ICP)
Qualified Person
The scientific and technical information
contained in this news release was approved by David Schonfeldt
P.GEO, Calibre Mining’s Corporate Chief Geologist and a "Qualified
Person" under National Instrument 43-101.
ON BEHALF OF THE BOARD
"Darren Hall"
Darren Hall, President and Chief Executive
Officer
For further information, please contact:
Ryan KingSenior Vice President, Corporate
Development & IRT: (604) 628-1012E: calibre@calibremining.comW:
www.calibremining.com
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed, Americas
focused, growing mid-tier gold producer with a strong pipeline of
development and exploration opportunities across Nevada and
Washington in the USA, and Nicaragua. Calibre is focused on
delivering sustainable value for shareholders, local communities
and all stakeholders through responsible operations and a
disciplined approach to growth. With a strong balance sheet, a
proven management team, strong operating cash flow, accretive
development projects and district-scale exploration opportunities
Calibre will unlock significant value.
Cautionary Note Regarding Forward-Looking
Information
This news release includes certain
"forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of
applicable Canadian securities legislation. All statements in this
news release that address events or developments that we expect to
occur in the future are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
identified by words such as "expect", "plan", "anticipate",
"project", "target", "potential", "schedule", "forecast", "budget",
"estimate", "intend" or "believe" and similar expressions or their
negative connotations, or that events or conditions "will",
"would", "may", "could", "should" or "might" occur. Forward-looking
statements in this news release include, but are not limited to:
the Company's expectations toward higher grades mined and processed
going forward; statements relating to the Company's 2023 priority
resource expansion opportunities; the Company's metal price and
cut-off grade assumptions. Forward-looking statements necessarily
involve assumptions, risks and uncertainties, certain of which are
beyond Calibre's control. For a listing of risk factors applicable
to the Company, please refer to Calibre's annual information form
("AIF") for the year ended December 31, 2022, and its management
discussion and analysis ("MD&A") for the year ended December
31, 2022, all available on the Company's SEDAR profile at
www.sedar.com. This list is not exhaustive of the factors that may
affect Calibre's forward-looking statements such as potential
sanctions implemented as a result of the United States Executive
Order 13851 dated October 24, 2022.
Calibre's forward-looking statements are based
on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information
available to management at such time. Such assumptions include but
are not limited to: the Company being able to mine and process
higher grades and keep production costs relatively flat going
forward; there not being an increase in production costs as a
result of any supply chain issues or ongoing COVID-19 restrictions;
there being no adverse drop in metal price or cut-off grade at the
'Company's Nevada properties. Calibre does not assume any
obligation to update forward-looking statements if circumstances or
management's beliefs, expectations or opinions should change other
than as required by applicable securities laws. There can be no
assurance that forward-looking statements will prove to be
accurate, and actual results, performance or achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements. Accordingly, undue reliance should not
be placed on forward-looking statements.
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