Calibre Mining Announces Final Drill Results on the 100% Owned Santa Maria Gold-Copper-Zinc Project, Nicaragua, Including 5....
August 08 2017 - 9:00AM
Calibre Mining Corp. (TSX-V:CXB) (the “Company” or “Calibre”) is
pleased to announce the final results from the 2017 maiden drilling
program on the 100% owned Santa Maria Gold-Copper-Zinc Project in
Nicaragua.
Highlights
- Diamond drilling (13 holes for 2100 metres) on the Santa Maria
Project has discovered significant gold and base metal
mineralization in structurally controlled quartz veins and
breccias.
- New results include the highest grade intercept to date with
5.85 m grading 7.50 AuEq g/t (2.02 g/t Au, 58.6 Ag, 3.46 % Cu) in
SM17-012, a 50 metre step out hole north of SM17-001 which
intersected 4.95 m grading 4.16 AuEq g/t (1.51 g/t Au, 24.7 Ag,
1.72 % Cu).
- Additional new results include;4.30 m grading 2.55 AuEq g/t
(0.12 g/t Au, 13.8 g/t Ag, 1.68% Cu), and 3.38 m grading 2.78 AuEq
g/t (0.54 g/t Au, 20.6 g/t Ag, 1.42% Cu, and 0.06 %Zn).
- The most recent results have extended the mineralization and
the zone remains open along strike and to depth with the Santa
Maria gold in soil anomaly traced for over 3 kilometers.
Greg Smith, President and CEO of Calibre stated:
“Drill results from the maiden drill program at Santa Maria
continue to expand the new discovery most notably on the northern
end of the drill tested part of the structure where new results
include 5.85 metres grading 2.02 g/t Au and 3.46% Cu. Results
are beginning to define a metal zonation within the system with
gold mineralization associated with increasing copper and lower
zinc in the north interpreted to be vectoring north toward the
source of the mineralized fluids.”
Highlights of the 2017 Santa Maria Diamond
Drilling
Hole ID |
From m |
To m |
Length (m) |
AuEq g/t |
Au g/t |
Ag g/t |
Cu % |
Zn % |
SM17-012 |
121.15 |
127.00 |
5.85 |
7.50 |
2.02 |
58.6 |
3.46 |
- |
Including |
121.15 |
121.90 |
0.75 |
24.73 |
8.40 |
144.0 |
10.69 |
- |
SM17-001 |
70.00 |
74.95 |
4.95 |
4.16 |
1.51 |
24.7 |
1.72 |
- |
Including |
73.65 |
74.95 |
1.30 |
8.05 |
3.93 |
29.6 |
2.77 |
- |
SM17-003 |
99.90 |
102.00 |
2.10 |
7.84 |
7.21 |
10.9 |
0.33 |
- |
Including |
101.00 |
102.00 |
1.00 |
14.87 |
14.60 |
15.9 |
- |
- |
SM17-008 |
57.70 |
60.35 |
2.65 |
5.26 |
3.58 |
16.4 |
0.29 |
1.65 |
Including |
57.70 |
58.65 |
0.95 |
11.74 |
9.14 |
33.9 |
0.57 |
2.08 |
SM17-012 |
129.62 |
133.00 |
3.38 |
2.78 |
0.54 |
20.6 |
1.42 |
- |
SM17-013 |
61.80 |
66.10 |
4.30 |
2.55 |
0.12 |
13.8 |
1.68 |
- |
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). |
|
- drill holes 001, 003,
and 008 previously reported – see News Release July 5 2017. |
|
- AuEq calculated using;
$1300 Au, $20 Ag, $2.50 Cu, and $1.25 Zn with 100% recoveries
|
Two additional holes were drilled in the
northern extension of the drilled area. Drill hole SM17-012
is a 50 metre step out from the discovery hole SM17-001 which
intersected 4.95 m grading 4.16 AuEq g/t (1.51 g/t Au, 24.7 Ag,
1.72 % Cu) and was successful intersecting the highest grade
interval in the maiden drilling program which returned 5.85 m
grading 7.50 AuEq g/t (2.02 g/t Au, 58.6 Ag, 3.46 % Cu). A
further step out an additional 50 metres north, drill hole
SM17-013, continued to intersect the structure returning 4.30 m
grading 2.55 AuEq g/t (0.12 g/t Au, 13.8 g/t Ag, 1.68% Cu).
Based on the drilling completed to date the gold-silver mineralized
structure is increasing in copper content to the north.
New results also include three holes drilled on
the southern portion of the structure which returned; SM17-009 with
1.65 m grading 1.30 AuEq g/t (0.30 g/t Au, 9.9 Ag, 0.34 % Cu, 0.63
% Zn), SM17-010 with 2.31 m
grading 0.99 AuEq g/t (0.35 g/t Au, 32.4 Ag, 0.03 % Cu, 0.16 % Zn),
and SM17-011 with 0.30 m grading 0.61 AuEq g/t (0.15 g/t Au, 13.5
Ag, 0.09 % Cu, 0.20 % Zn) Intercepts in the southern end of the
drill tested portion of the structure continue to have anomalous
gold and silver associated with elevated zinc and lesser copper
with this metal distribution interpreted to be related to greater
distance from source relative to the northern portion of the
structure.
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 segment 300 metres in
strike length with gold-silver mineralization associated with high
copper values transitioning in the central portion which contains
variable amounts of both copper and zinc and 200 metres further to
the south where it is characterized by low 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.
Existing targets with potential for further
gold-silver-copper-zinc discoveries on the Santa Maria Project
include both the northern and southern structural extensions to the
drill tested area (where additional multi-element anomalies have
been defined), additional sub-parallel structures which have been
identified based on rock and soil anomalies, intrusive related
mineralization associated with the mapped granodiorite centered two
kilometres north of the current drilling, as well as skarn zones
hosted in previously recognized altered limestone and sedimentary
rocks.
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
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.
Cautionary Note Regarding Forward
Looking Statements
This news release contains certain
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
“expects” or “does not expect”, “is expected”, “anticipates” or
“does not anticipate” “plans”, “estimates” or “intends” or stating
that certain actions, events or results “ may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved) are not
statements of historical fact and may be “forward-looking
statements”. Forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events
or results to materially differ from those reflected in the
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
statements. There can be no assurance that such statements
will prove to be accurate as actual results and future events could
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
778-998-3700
www.calibremining.com
Calibre Mining (TSXV:CXB)
Historical Stock Chart
From Mar 2024 to Apr 2024
Calibre Mining (TSXV:CXB)
Historical Stock Chart
From Apr 2023 to Apr 2024