Calibre Mining – Q3 Operations And Exploration Update In Both Nicaragua And Nevada
Ryan King, Senior VP of Corporate Development and IR at Calibre Mining (TSX.V:CXB – OTCQX:CXBMF), joins us to provide a recap of Q3 and year to date operation and production results in Nicaragua and Nevada, as well as an overall development and exploration update.
Q3 and Year to Date 2023 Highlights
- Q3 cash increased to $97 million, a 26% increase over Q2 2023 and 72% since the start of 2023
- 4th Consecutive record consolidated quarterly gold production, 73,485 ounces
- 50% increase in gold production compared to Q3 2022 (49,081 ounces)
- Nicaragua gold production of 63,756 ounces and Nevada gold production of 9,729 ounces
- Record consolidated YTD gold production of 208,011 ounces
- 30% increase in gold production compared to YTD 2022 (160,704 ounces)
- Remain well on track to deliver full year guidance of 250,000 – 275,000 ounces
Next we reviewed the continued exploration success at a number of drill targets and new areas of focus near their Libertad processing facility, especially at the Cerro Volcan Gold Deposit, which just had news out about its initial open pit Mineral Resource Estimate five kilometers from the mill. We then pivot over to more recently announced drill results from the expansion and infill drilling program at the high-grade Atravesada underground deposit located within the Limon Mine Complex; 2 kilometers west of the Limon processing plant. These high-grade intercepts continue to demonstrate the resource expansion potential at the Limon Mine complex. Many of the exploration targets and success with the drill bit the last 2 years has been guided by the VTEM data, and what they have dubbed the “VTEM Gold Corridor.”
We wrap up with a deeper dive into the Nevada operations and exploration upside around the Pan Gold Mine, as well as further exploration and technical studies underway at the Goldrock Project for the optimal pathway to development.
If you have any questions for Ryan regarding Calibre Mining, then please email me at Shad@kereport.com.
- In full disclosure Shad is a shareholder of Calibre Mining at the time of this recording.