Calibre Mining and Centerra Gold commence 2017 Diamond Drilling on the Cerro Aeropuerto Gold Deposit, Siuna Project, Nicaragu...
July 31 2017 - 9:00AM
Calibre Mining Corp. (TSX-V:CXB) (the “Company” or “Calibre”) is
pleased to announce the Company and Centerra Gold Inc. (“Centerra”)
have begun the 2017 diamond drilling program at the Cerro
Aeropuerto Gold Deposit, on the Siuna Project (the “Project”),
located in Northeast Nicaragua. Centerra can earn a 70%
interest in the 253 km2 Project by investing $9.0 million in
exploration on the property before December 31, 2020.
Highlights
- 2017 diamond drilling program at Cerro Aeropuerto has commenced
and will consist of 8 to 10 diamond drill holes totalling 3500
metres.
- The Cerro Aeropuerto drilling will target expansions of the
high grade gold results from the 2016 drilling which included; 8.1m
grading 22.5 g/t Au, 2.7m grading 120.6 g/t Au, 7.6m grading 18.5
g/t Au, and 10.4m grading 3.9 g/t Au, with step-outs testing 750
metres of strike length.
- The high grade zone within the Cerro Aeropuerto deposit has
been traced by drilling for approximately 300 metres and is open
along strike and down dip.
- Exploration continues on the 241 square kilometer Northern
Suina Project where results to date from soil sampling on the
Project-wide 400 m by 400 m grid and additional detailed grids have
defined kilometer-scale gold anomalies that remain open for
expansion.
Greg Smith, President and CEO of Calibre stated:
“The 2017 drilling will build on the high grade results from the
last and previous drilling programs at the heart of the Cerro
Aeropuerto Resource. The 2015/16 intercepts are the highest
grade zones intersected in any of the drilling to date on the
deposit and have begun to define a high grade core which remains
open for expansion.”
The 2017 diamond drill program at Cerro
Aeropuerto will consist of eight to ten diamond drill holes
totaling approximately 3500 metres. The drilling will test
750 metres of strike length stepping out on the high grade results
returned in the 2015/2016 drilling program highlighted by; 8.1m
grading 22.5 g/t Au, 2.7m grading 120.6 g/t Au, 7.6m grading 18.5
g/t Au, and 10.4m grading 3.9 g/t Au.
Cerro Aeropuerto 2015/16 High Grade
Intercepts
Hole ID |
from m |
to m |
Metres |
Au g/t |
CA15-020 |
210.5 |
218.1 |
7.62 |
18.46 |
CA16-022 |
212.7 |
215.4 |
2.70 |
120.58 |
CA16-022 |
219.1 |
227.2 |
8.12 |
22.47 |
CA16-023 |
149.5 |
159.8 |
10.35 |
3.92 |
Notes: - Intervals are core lengths / true width are estimated
to be 70-80% of lengths.
- Length weighted averages from uncut assays
The high grade zone within the Cerro Aeropuerto
Deposit has been traced by drilling for approximately 350 metres
and is open along strike and down dip. In additional to the
2015/2016 intercepts previous drilling which forms part of the
existing Inferred Resource intercepted; 28.5m grading 5.0 g/t Au,
2.2m grading 16.9 g/t Au, and 19.5m grading 3.68 g/t Au. The
2017 diamond drilling is directed at testing extensions to the high
grade zone along strike to both the north and south and down
dip.
Work during H1 2017 has included a Project-wide
sampling program designed to extend existing anomalous zones and
define new anomalous trends. Exploration and sampling have
covered the entire 241 sq. km Northern Siuna Area at 400 metre by
400 metre spacing with selected areas receiving infill sampling on
200 metre by 200 metre grids. Results have outlined
kilometre-scale anomalous areas which remain
open. Further work consisting of ground
magnetic and dipole-dipole IP geophysical surveying is
on-going.
The Siuna Project is located in the south-west
portion of the Borosi Concessions and contains the past producing
open pit and underground La Luz Mine that produced 17.1 million
tonnes of ore grading 4.14 g/t gold (2.3 million ozs gold) as well
as, one kilometre to the south, the NI43-101 compliant Inferred
Resource at the Cerro Aeropuerto gold-silver deposit which hosts
707,750 ozs gold and 3.1 million ozs silver in 6.05M tonnes grading
3.64 g/t Au and 16.16 g/t Ag at a cut off of 0.6 g/t (see Calibre
News Release dated February 28, 2011).
Notes: - Mineral Resources that are not mineral
reserves do not have economic viability. The quantity and
grade of reported inferred resources in this estimation are
uncertain in nature and there has been insufficient exploration to
define these inferred resources as an indicated or measured mineral
resource and it is uncertain if further exploration will result in
upgrading them to an indicated or measured mineral resource
category. Resource Estimate for Cerro Aeropuerto
detailed in Technical Report titled NI 43-101 Technical Report and
Resource Estimation of the Cerro Aeropuerto and La Luna Deposits,
Borosi Concessions, Nicaragua by Todd McCracken, dated April 11,
2011.
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
For further information contact:Ryan King604
628-1012www.calibremining.com
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