Calibre Mining Advances Three Projects in Nicaragua with Five Drills Active
November 13 2017 - 09:00AM
Calibre Mining Corp. (TSX-V:CXB) (the “Company” or “Calibre”) is
pleased to provide updates on the three on-going drilling programs
with a total of five drill rigs currently active on the Borosi
Concession, Northeast Nicaragua. The first drilling program
is at the Eastern Borosi Project in Joint Venture with IAMGOLD
where two rigs are currently testing new high-grade epithermal gold
targets. Additionally, two diamond drills are testing new
kilometre-scale skarn and porphyry gold targets generated in 2017
on the Siuna Project optioned to Centerra Gold, and one RC rig
continues to test high priority gold-copper anomalies targeting
additional porphyry mineralization on the 100% Calibre owned
Primavera Gold-Copper Porphyry Project.
Highlights
- Two diamond drills testing newly discovered high grade
gold-silver structures on the Eastern Borosi Project funded by
partner IAMGOLD.
- Two diamond drills testing new kilometre-scale gold targets
defined by geology, geochemistry and geophysics on the Siuna
Project with partner Centerra Gold.
- Continued RC drilling on Calibre’s 100% owned Gold-Copper
Porphyry Primavera Project.
President and CEO Greg Smith stated: “2017 is
the culmination of several years of detailed exploration and
advancement on all of Calibre’s Nicaragua gold projects, the result
of which is that we are currently the most active we have ever been
with five drills testing multiple gold, gold-silver and gold-copper
targets in each of the three project areas.”
IAMGOLD JV – Eastern Borosi
Project Current drilling on the Eastern Borosi Project is
targeting expansion of two high-grade epithermal gold-silver
discoveries made by Calibre and our joint venture partner IAMGOLD
over the last two years. Two diamond drills are active, one
each testing the Veta Loca Gold-Silver Structure and the Cadillac
Structure with an expected total of 8 - 10 holes to be completed in
the remainder of 2017. To date in 2017 diamond drilling on
the Eastern Borosi Project has totalled 7,670 metres in 23 drill
holes.
Centerra Option - Siuna Project 2017
Drilling Program Two diamond drills on the Siuna Project
are both currently testing newly identified and defined gold
anomalies associated with the 8 – 10 kilometre long El Dorado Trend
located in the north central portion of the 253 square kilometre
Project. To date, drilling in 2017 consists of 15 holes (two
in progress) totalling 5,000 metres with 8 holes directed at
step-outs drilling of the Cerro Aeropuerto Gold-Silver Deposit and
the remaining 7 drill holes targeting the new El Dorado gold
targets. Drilling for the remainder of 2017 will focus on the
El Dorado Trend targets.
100% Owned Primavera 2017 Drilling
Program The first drilling program at the 100% owned
Primavera Gold-Copper Porphyry deposit since the discovery in
2011-12 continues to test wide-spread targets defined by soil and
rock sampling, geochemistry and geophysics. The program to
date includes 15 holes (one in progress) totalling 2,115 metres of
RC drilling testing multiple targets designed to identify
additional gold-copper porphyry centres in the area surrounding the
existing Primavera deposit.
Calibre is committed to best practice standards
for all exploration, sampling and drilling activities.
Drilling is being completed by independent drilling contractors.
Analytical quality assurance and quality control procedures
include the systematic insertion of blanks and standards 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 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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