Calibre Mining – More High-Grade Drill Results Returned from the Jabali Underground Drilling And Nearby Scout Drilling
Ryan King, Senior VP of Corporate Development and IR at Calibre Mining (TSX.V:CXB – OTCQX:CXBMF), joins us to provide an exploration update on a series of high-grade drill results from its 2023 resource expansion drill program within and nearby the Libertad Mine complex in Nicaragua. Mineral Resource grades at Jabali average 4 g/t gold so these higher-grade drill results at depth from underground drilling, approximately 100 meters below the main Jabali resource, confirms mineralization and continuity down-dip with strong potential for resource expansion.
Highlights at the Jabali Underground Mine include:
- 10.80 g/t Au over 14.3 metres Estimated True Width (ETW) including 26.72 g/t Au over 4.5 metres ETW in Hole JB-23-538A
- 18.84 g/t Au over 3.1 metres ETW including 31.30 g/t Au over 1.8 metres ETW in Hole JB-23-539
- 4.51 g/t Au over 3.1 metres ETW including 9.04 g/t Au over 1.5 metres ETW in Hole JB-23-540
- 8.44 g/t Au over 8.9 metres ETW including 22.08 g/t Au over 3.0 metres ETW in Hole JB-23-541
Some of the new areas of focus Ryan highlighted are near their Libertad processing facility, and we reviewed the continued exploration success at a number of scout drill targets along the same trend as the recently announced Cerro Volcan Gold Deposit open pit resource. These results demonstrate the strong potential to continue expanding resources and to discover new zones. Scout level drilling across the property has identified three new target areas located within 10 km of the Libertad mill at the Calvario, Salvadorita, Mestiza vein systems.
Highlights from the scout level drill program include:
- 14.39 g/t Au over 2.3 metres ETW including 48.91 g/t Au over 1.2 metres ETW in Hole CV-23-022;
- 32.84 g/t Au over 2.1 metres ETW in Hole CV-23-032;
- 17.40 g/t Au over 1.2 metres ETW in Hole CV-23-023;
- 156.7 g/t Au over 0.44 metres ETW in Hole SAL-23-004;
- 9.65 g/t Au over 2.1 metres ETW including 20.00 g/t Au over 0.8 metres ETW in Hole VN-23-137;
Additionally, we pivoted 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.” This all ties into the continued theme from the exploration work at Calibre Mining of grade-driven growth.
- In full disclosure Shad is a shareholder of Calibre Mining at the time of this recording.