Calibre Mining Announces Drill Results from Phase I Drilling Program on the 100% Owned Santa Maria Gold-Copper-Zinc Project, ...
July 05 2017 - 09:00AM
Calibre Mining Corp. (TSX-V:CXB) (the “Company” or “Calibre”) is
pleased to announce the initial results from the 2017 maiden
drilling program on the 100% owned Santa Maria Gold-Copper-Zinc
Project in Nicaragua.
Highlights
- Diamond drilling on the Santa Maria project has discovered
significant gold and base metal mineralization in structurally
controlled quartz veins and breccias. Results
include:
4.95 m grading
4.16 AuEq g/t (1.51 g/t Au, 24.7 g/t Ag, 1.72 % Cu),
2.10 m grading 7.84 AuEq g/t (7.21
g/t Au, 10.9 g/t Ag, 0.33% Cu), and
2.65 m grading 5.26 AuEq g/t (3.58 g/t Au, 16.4 g/t Ag, 0.28%
Cu, and 1.65% Zn).
- To date, results have been received for 8 drill holes of the
maiden 2017 diamond drilling program which consists of 13 diamond
drill holes totaling 2100 metres.
- Mineralization remains open along strike and to depth with the
Santa Maria gold in soil anomaly having been traced for over 3
kilometers.
Greg Smith, President and CEO of Calibre stated:
“The high grade drill results from the maiden drill program at
Santa Maria are a new discovery following-up on surface geological
and geochemical exploration completed by Calibre. The
discovery of this near surface high grade mineralization which was
never drilled previously within this historic mining camp
highlights the significant potential of Calibre
Projects.”
Hole ID |
From m |
To m |
Length (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Zn (%) |
AuEq g/t |
SM17-001 |
70.00 |
74.95 |
4.95 |
1.51 |
24.7 |
1.72 |
- |
4.16 |
including |
73.65 |
74.95 |
1.30 |
3.93 |
29.6 |
2.77 |
- |
8.05 |
SM17-002 |
119.50 |
119.80 |
0.30 |
0.34 |
10.4 |
0.55 |
- |
1.24 |
|
142.50 |
143.65 |
1.15 |
0.20 |
13.9 |
1.71 |
- |
2.68 |
SM17-003 |
99.90 |
102.00 |
2.10 |
7.21 |
10.9 |
0.33 |
- |
7.84 |
including |
101.00 |
102.00 |
1.00 |
14.6 |
15.9 |
- |
- |
14.87 |
SM17-004 |
NSV |
|
|
|
|
|
|
|
SM17-005 |
65.50 |
66.00 |
0.50 |
0.85 |
0.4 |
- |
- |
0.87 |
|
106.70 |
107.70 |
1.00 |
0.77 |
12.6 |
0.13 |
1.25 |
1.93 |
|
114.00 |
115.10 |
1.10 |
0.24 |
4.7 |
0.19 |
1.66 |
1.61 |
SM17-006 |
NSV |
|
|
|
|
|
|
|
SM17-007 |
57.80 |
60.75 |
2.95 |
0.24 |
4.5 |
0.19 |
0.59 |
0.93 |
SM17-008 |
57.70 |
60.35 |
2.65 |
3.58 |
16.4 |
0.29 |
1.65 |
5.26 |
including |
57.70 |
58.65 |
0.95 |
9.14 |
33.9 |
0.57 |
2.08 |
11.74 |
Notes: |
|
- Intervals are core
lengths / true width are estimated to be 70-80% of
lengths. |
|
|
- Length weighted
averages from uncut assays (NSV = no significant values). |
|
|
- AuEq calculated
using; $1300 Au, $20 Ag, $2.50 Cu, and $1.25 Zn with 100%
recoveries |
The 2017 maiden drill program at Santa Maria consists of 13
diamond drill holes totaling 2100 metres. The drilling tested
800 metres of strike length to depths of between 50 and 100 metres
below surface.
Results define a northern 300 metres of
gold-silver mineralization with high copper which transitions to
the south where it is characterized by moderate copper and high
zinc.
The overall Santa Maria geochemical anomaly has
been traced for more than three kilometres. The northern
portion of the anomaly is adjacent to a kilometer-scale intrusive
which is one potential source for the mineralized fluids.
Additional work consisting of wide-spaced soil sampling, rock
sampling, and geological mapping is planned for this area.
Calibre is committed to best practice standards
for all exploration, sampling and drilling activities.
Drilling was completed by independent and experienced firms.
Analytical quality assurance and quality control procedures include
the systematic insertion of blanks, standards and duplicates into
the sample strings. Samples are placed in sealed bags and
shipped directly to Acme Labs (a Bureau Veritas Group Company) in
Managua, Nicaragua for sample preparation and then to Bureau
Veritas Lab in Vancouver, Canada for 50 gram gold fire assay and
ICP-MS multi element analyses.
The technical content in this news release was
read and approved by Gregory Smith, P.Geo, President and CEO of the
Company who is the Qualified Person as defined by NI 43-101.
About Calibre Mining
Corp.Calibre owns a 100% interest in over
413 km2 of mineral concessions in the Mining Triangle of Northeast
Nicaragua including the Primavera Gold-Copper Project and Santa
Maria Gold Project. Additionally the Company has optioned to
IAMGOLD (176 km2) and Centerra Gold (253 km2) concessions covering
an aggregate area of 429 km2 and is party to a joint venture on the
33.6 km2 Rosita D gold-copper-silver project with Rosita Mining
Corporation. Major shareholders of Calibre include gold
producer B2Gold Corp, Pierre Lassonde and management.
Calibre Mining Corp.
“Greg Smith”
Greg Smith,
P.Geo.President and CEO
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the adequacy or accuracy of this release.
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Looking Statements
This news release contains certain
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
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statements”. Forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events
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forward-looking statements.
Safe Harbor Statement under the United
States Private Securities Litigation Reform Act of 1995:
Except for the statements of historical fact contained herein, the
information presented constitutes “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements including but not
limited to those with respect to the price of gold, potential
mineralization, reserve and resource determination, exploration
results, and future plans and objectives of the Company involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievement of Calibre to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
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differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
For further information contact:
Ryan King
604 628-1012
www.calibremining.com
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