Calibre Mining – Exploration Focus Fueling Development And Grade-Driven Production Growth
Ryan King, VP of Corporate Development and IR at Calibre Mining (TSX: CXB – OTCQX: CXBMF), joins us to exploration update from multiple projects in both Nicaragua and Nevada, as well as the solid development and production growth pipeline moving into 2023. We focus initially on the first pass step-out drilling along the Panteon North/VTEM geophysical corridor within the Limon Mine Complex. Results included 11.61 g/t Au over 9.3 metres Estimated True Width, including 23.93 g/t Au over 1.7 meters, and 15.34 g/t Au over 3.9 metre in Drill Hole # LIM-22-4701; as well as 6.73 g/t Au over 2.1 meters in Hole LIM-22-4689. These successful step-out drill holes demonstrate that this mineralize corridor still could be holding plenty of gold along several kilometers of strike length, and things will be building towards a resource estimate here for later next year.
Next, we dive into the other areas of ongoing development at both Pavon Central and Eastern Borosi, where prior exploration has returned an average of 6.5 g/t gold on these resources that will be ramping up into production next year. This is going to be a big focus of the grade-driven growth in production, as well as lower costs, and improving economic returns, playing to the strength of the hub-and-spoke strategy. Ryan also mentioned that the exploration team continues to make new discoveries and has been doing some initial work at the new La Fortuna concession, which will have more news to come.
Next we transition over to all the ongoing exploration work the company has underway in Nevada around both the Pan Mine area and stepping out from the know mineralization, and also at the development-stage Gold Rock Project. Some of the key highlight results from the 2022 Drill Program are below:
- 5.5 g/t Au over 3.0 metres in hole GC22-008; 7.1 g/t Au over 2.1 metres in hole GC22-013;
- 6.6 g/t Au over 5.8 metres in hole GC22-015; 4.1 g/t Au over 8.1 metres in hole GC22-016;
- 3.0 g/t Au over 19.2 metres in hole GCM22-001; 4.6 g/t Au over 4.6 metres in hole GR22-006;
- 6.7 g/t Au over 3.0 metres in hole GR22-091; 6.8 g/t Au over 4.6 metres in hole GR22-102;
- 5.5 g/t Au over 3.0 metres in hole GR22-115; 4.1 g/t Au over 3.0 metres in hole GR22-151;
- 3.2 g/t Au over 43.8 metres including 6.1 g/t Au over 8.1 metres in hole GC22-018;
- 5.3 g/t over 3.0 metres in hole GR22-152; 8.0 g/t over 1.52 metres in hole GR22-041
If you have any follow up questions for Ryan on Calibre Mining, then please email us at Fleck@kereport.com or Shad@kereport.com.
*In full disclosure, Shad is a shareholder of Calibre Mining.