Calibre and B2Gold Trenching Returns 14.8 Metres Grading 1.85 g/t Gold at the Minnesota Gold Project, Borosi Concessions, Nic...
May 07 2014 - 9:00AM
Marketwired Canada
Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased
to announce results from follow-up trenching and sampling at the Minnesota gold
project within the B2Gold Corp. ("B2Gold") (TSX:BTO)(NYSE MKT:BTG) Joint Venture
on the Borosi concessions, northeast Nicaragua. Calibre controls a 49.0%
interest in the joint venture and B2Gold has a 51.0% interest and is project
operator. B2Gold has the right to earn an additional 19.0% in the Borosi
concessions joint venture by spending $6.0 million in additional project
expenditures over three years. The 2014 exploration program on the B2Gold joint
venture is budgeted at $1.2 million.
Highlights
-- Trenching at the Minnesota gold project has intersected zones of
continuous gold mineralization including: 14.80 metres grading 1.85 g/t
Au (MINTR14-006) and 8.5 metres grading 1.22 g/t Au (MINTR14-001)
B2Gold has completed a series of trenches as well as gridded auger drilling
designed to further define and extend the defined gold mineralization at
Minnesota. The Minnesota target area consists of intrusive hosted veinlet's
within a structurally prepared area with widespread alteration. The target is
defined by a strong 1.75 km x 1.25 km gold in soil anomaly.
Table 1 - Trenching Results - Minnesota Gold Project
---------------------------------------------------------------------------
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Trench ID From (m) To (m) Interval (m) Au (g/t)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
MINTR14-001 0.00 14.55 14.55(i) 0.87
including 1.50 10.00 8.50 1.22
---------------------------------------------------------------------------
MINTR14-002 0.00 15.00 15.00(i) 0.41
including 4.60 15.00 10.40 0.47
and 14.00 15.00 1.00 1.07
---------------------------------------------------------------------------
MINTR14-003 0.00 6.00 6.00 0.21
---------------------------------------------------------------------------
MINTR14-004 NSR
---------------------------------------------------------------------------
MINTR14-005(ii) 2.00 3.50 1.50 0.77
---------------------------------------------------------------------------
MINTR14-006 0.00 14.80 14.80(i) 1.85
5.00 14.80 9.80 2.42
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Notes; (i) Represents entire length of trench - open ended in both
directions
Length weighted averages from uncut assays.
(ii)Trench MINTR14-005 results have been received for 4.7 m of a total
length of 14.9 m
Trenches MINTR14-001 to MINTR14-005 are located 100 metres southwest of the
previously reported channel samples which included the following intercepts:
MINTR13-001; 7.5m grading 3.93 g/t Au (open), MINTR13-002; 9.2m grading 4.17 g/t
Au (open), and MINTR13-003; 7.0m grading 1.45 g/t Au (open).
Trench MINTR14-006 is located 500 metres northeast of trenches MINTR14-001 to
MINTR14-005 in the extension area currently being tested by auger drilling.
New results have also been received for a series of gridded auger holes which
have been completed within and to the northeast of the existing surface anomaly.
This work is designed to further define the nature and extent of the gold
mineralization. Results have extended the gold mineralization a further 300
metres to the northeast. The new auger anomaly is approximately 125 metres wide
with gold assays consistently above 100ppb Au. Trench MINTR14-006 is located
within the extension anomaly and includes a composite of 9.80m grading 2.42 g/t
Au. A total of 511 rock grid samples have been collected to date using a hand
auger to drill down to the rock-saprolite boundary at depths down to 8.25
metres. Overall the anomalous trench and auger rock samples define an area of
pervasive gold mineralization approximately 700 metres long and up to 125 metres
wide with the target being open for expansion.
Updated maps detailing the result of the current exploration program at the
Minnesota Gold/Copper Project will be posted on the Company's web site at
www.calibremining.com.
Quality assurance and quality control procedures include the systematic
insertion of blanks, standards and duplicates into the rock and soil sample
strings. Samples are placed in sealed bags and shipped directly to Acme Labs in
Managua, Nicaragua for sample preparation and then to Acme Labs in Vancouver,
Canada for 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 controls a 100% interest in 429 km2 of mineral concessions.
Additionally, Calibre has joint venture exploration programs underway with
B2Gold Corp. on 322.3 km2 of concessions which includes the Primavera
gold-copper porphyry discovery, and has optioned the 33.6 km2 Rosita
gold-copper-silver project to Alder Resources Ltd. Major shareholders of Calibre
include gold producer B2Gold Corp.
Calibre Mining Corp.
Greg Smith, P.Geo., President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Calibre Mining Corp.
Ryan King
604 628-1012
www.calibremining.com
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