Ryan King, Senior VP of Corporate Development and IR at Calibre Mining (TSX: CXB – OTCQX: CXBMF), joins us to recap the full year 2022 operations, production guidance for 2023, and the overall organically-funded exploration strategy, continuing grade-driven growth of the resources in both Nicaragua And Nevada.
Calibre Mining now has the largest Nicaraguan Mineral Reserve estimate, at a record grade of 5.37 g/t gold, which is a 16% increase, over the 2021 average grade of 4.62 g/t gold. There has also been a 278% increase in the Nicaraguan Mineral Reserves to approximately 1,082,000 ounces gold, net of depletion since acquisition in 2019. We discussed the 2 key areas of development and near-term production will be coming from Eastern Borosi and Pavon Central, both continuing to add higher grade throughput through the Libertad Mill. There is also aggressive ongoing exploration focused on prior high-grade drill results from Panteon North, new zones around the Libertad Mill, Veta Azul, Volcan, and also new targets at Buena Vista and La Fortuna.
Next we transition over to the Nevada assets, and all the ongoing exploration work the company has underway around both the Pan Mine area and at the development-stage Gold Rock Project. The exploration team is encouraged by recent drill results stepping out from the known mineralization and finding higher grade gold intercepts at the Coyote target, as well as stepping out from the Pan Mine area. There are also some targets on drilling some deeper ‘Carlin Style’, sulfide mineralization at Gold Rock Deep. We wrap up by reviewing some of the recent high-grade gold intercepts that were released from the Golden Eagle Project in Washington state, the 2 million ounces of gold in the ground there, and some of the larger majors projects in the area that represents future optionality for this project.
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.
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