Calibre and Centerra Gold drill 77.8 Metres Grading 1.1 g/t Au at the Cerro Aeropuerto Gold Deposit, Northeastern Nicaragua
January 11 2018 - 9:15AM
Calibre Mining Corp. (TSX-V:CXB) (the “Company” or “Calibre”) is
pleased to provide an update as the Company and Centerra Gold Inc.
(TSX:CG) (“Centerra”) continue to advance the Siuna Project, Borosi
Concessions, Northeast Nicaragua. Centerra can earn a 70%
Interest in the Project by investing $7.0 million in exploration on
the property before December 31, 2019.
Highlights
- Drilling at the Cerro Aeropuerto gold deposit in drill hole
CA17-045 returned a weighted average of 77.78 metres
grading 1.09 g/t Au with a second hole
CA17-052 intersecting high-grade gold
mineralization of 1.38 metres grading 54.80 g/t Au
(uncut)
- The 2017 Diamond Drilling Program on the Cerro Aeropuerto
Deposit funded by Centerra included 3,526 metres completed in 8
drill holes.
- Additionally, diamond drilling on the Siuna Project tested
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. Final
results are pending.
- Additional fieldwork consisting of IP surveying was completed
in Q4 2017 on the northernmost target at El Avion
President and CEO, Greg Smith stated: “The 2017
drilling program at the Cerro Aeropuerto gold deposit continues to
expand the mineralization intersecting both wide zones of gold
mineralization and narrower high grade zones of up to 54.8 g/t Au
over 1.38 metres. The on-going exploration and drilling
program on the Siuna Project continues to test exciting new targets
in the El Dorado Trend portion of the northern Siuna Project and
define new high-quality gold-copper targets at El Avion.”
2017 Diamond Drilling
The recently completed drilling program at Cerro
Aeropuerto consisted of 3,526 metres in eight drill holes.
Drilling tested the continuity and orientation of the previously
identified primary gold-bearing structures as well as step outs to
the south and down dip. Results are detailed in the following
table:
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HoleID |
Fromm |
Tom |
Length(m) |
Au(g/t) |
Ag(g/t) |
Cu(ppm) |
Zn(ppm) |
CA17-045 |
111.15 |
188.93 |
77.78 |
1.09 |
7.6 |
161 |
449 |
including |
179.60 |
188.93 |
9.33 |
5.60 |
29.9 |
641 |
150 |
2nd Zone |
269.92 |
286.70 |
16.78 |
1.09 |
2.2 |
51 |
321 |
3rd Zone |
408.70 |
413.27 |
4.57 |
1.18 |
21.1 |
275 |
7,106 |
CA17-046 |
130.00 |
183.50 |
53.50 |
0.35 |
3.2 |
244 |
146 |
including |
130.00 |
133.60 |
3.60 |
3.89 |
39.4 |
329 |
181 |
2nd Zone |
314.46 |
323.70 |
9.24 |
1.13 |
19.2 |
3,206 |
2,326 |
CA17-052 |
143.35 |
160.12 |
16.77 |
0.88 |
8.9 |
83 |
337 |
including |
147.92 |
155.55 |
7.63 |
1.77 |
18.1 |
54 |
84 |
HG Zone |
377.18 |
378.56 |
1.38 |
54.80 |
12.6 |
202 |
22,100 |
CA17-054 |
57.00 |
259.64 |
202.64 |
0.25 |
4.2 |
531 |
403 |
including |
57.00 |
59.47 |
2.47 |
1.59 |
12.2 |
863 |
3,046 |
and |
124.85 |
131.87 |
7.02 |
0.94 |
9.1 |
195 |
1,155 |
and |
137.25 |
138.77 |
1.52 |
2.79 |
262.0 |
2,013 |
12,900 |
|
Notes: |
- Intervals
are core lengths / true width are estimated to be 80-90% of
lengths |
|
- Length
weighted averages from uncut assays. |
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The 2017 Cerro Aeropuerto drilling tested the
mineralization over approximately 400 metres of strike length and
to depth of 350 metres below surface.
Drill holes CA17-043 and CA17-044 were drilled
in the northern edge of the existing Cerro Aeropuerto deposit
testing the along strike extension of the deeper portion of the
system. Intercepts included 4.83 metres grading 0.77 g/t Au
in CA17-043 and 18.68 metres grading 0.21 g/t Au in CA17-044.
Drill holes CA17-045 and CA17-046 tested down
dip portion of Cerro Aeropuerto under drill hole CA15-20 which
intercepted 71.05m grading 2.89 g/t Au. Intercepts included
77.78 metres grading 1.09 g/t Au, a second zone of 16.78m
grading 1.09 g/t Au and a third zone of 4.57m grading 1.18 g/t
Au in CA17-045 while CA17-046 intercepts include 53.50
metres grading 0.35 g/t Au and a second zone of 9.24m grading 1.13
g/t Au, 0.32% Cu and 0.23% Zn.
Drill holes CA17-047 and CA17-048 were drilled
under the southern extension to the deposit testing the down dip
extension of the system intercepted in CA16-047 which included
16.77m grading 0.39 g/t Au. Intercepts included 4.83 metres
grading 0.77 g/t Au in CA17-043 and 18.68 metres grading 0.21 g/t
Au in CA17-048.
Drill holes CA17-052 and CA17-054 were drilled
50 and 250 metres respectively south of the Cerro Aeropuerto
deposit. Intercepts in CA17-052 include 16.77 metres grading
0.88 g/t Au, a second zone of 27.30m grading 0.39 g/t Au and a
third zone 63.50m grading 0.34 g/t Au and 0.05 % Cu which included
6.67m grading 1.80 g/t Au and 0.10 % Cu and a lower intercept of
1.38 g/t Au, 12.6 g/t Ag, 0.02 % Cu and 2.21% Zn. Intercepts
in CA17-054 include a broad mineralized zone of 202.64 metres
grading 0.25 g/t Au, including higher grade structures of 2.47
metres grading 1.59 g/t Au and 12.2 g/t Ag, 1.52 metres grading
2.79 g/t Au with 262.0 g/t Ag, 0.20 % Cu and 1.29 % Zn and 10.96
metres grading 0.58 g/t Au.
Geologic interpretation of drill holes to date
has identified a gold-bearing hornblende diorite porphyry body
bounded by shear zones containing serpentinized basic to ultrabasic
rock and calcareous metasediments. The strongest
mineralization is located near the serpentinite-diorite contacts
where sulphide bearing quartz-carbonate veins and silicified
hydrothermal breccias correlate well with high grade gold
values.
Q4 2017 Exploration
In Q4 2017 two diamond drills on the Siuna
Project tested 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. Assays are pending.
The third area of active exploration within the
Siuna Project is the northernmost target at El Avion. The
zone is defined by a multi-element anomaly in soil and rock
sampling which covers an area 2.5 kilometres by 3.0
kilometres. Work completed in December 2017 included ground
geophysics completed by Zonge Geophysics consisting of 49.6 line
kilometres of Dipole-Dipole Induced Polarization (“D-D IP
Survey”).
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.
2018 Exploration
Additional exploration on the Siuna Project will
commence in January of 2018. Primary targets will be the
northern half of the 8 – 10 kilometre long El Dorado Trend and
continued advancement at El Avion with initial drilling expected in
the first half of the year.
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 a Joint Venture with
IAMGOLD (176 km2) and optioned to 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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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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Looking Statements
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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
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Accordingly, readers should not place undue reliance on
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HoleID |
Fromm |
Tom |
Length(m) |
Au(g/t) |
Ag(g/t) |
Cu(ppm) |
Zn(ppm) |
CA17-043 |
211.22 |
216.05 |
4.83 |
0.77 |
5.3 |
165 |
1,241 |
2nd Zone |
292.80 |
301.97 |
9.17 |
0.20 |
1.5 |
43 |
2,324 |
CA17-044 |
187.57 |
189.00 |
1.43 |
1.31 |
31.6 |
105 |
207 |
2nd Zone |
227.22 |
245.90 |
18.68 |
0.21 |
1.0 |
240 |
186 |
CA17-045 |
111.15 |
188.93 |
77.78 |
1.09 |
7.6 |
161 |
449 |
including |
179.60 |
188.93 |
9.33 |
5.60 |
29.9 |
641 |
150 |
2nd Zone |
269.92 |
286.70 |
16.78 |
1.09 |
2.2 |
51 |
321 |
including |
282.12 |
286.70 |
4.58 |
3.18 |
5.8 |
95 |
934 |
3rd Zone |
408.70 |
413.27 |
4.57 |
1.18 |
21.1 |
275 |
7,106 |
CA17-046 |
130.00 |
183.50 |
53.50 |
0.35 |
3.2 |
244 |
146 |
including |
130.00 |
133.60 |
3.60 |
3.89 |
39.4 |
329 |
181 |
2nd Zone |
314.46 |
323.70 |
9.24 |
1.13 |
19.2 |
3,206 |
2,326 |
CA17-047 |
239.80 |
244.85 |
5.05 |
0.91 |
10.4 |
514 |
2,759 |
2nd Zone |
364.00 |
369.05 |
5.05 |
0.29 |
6.8 |
10 |
364 |
CA17-048 |
188.40 |
249.30 |
60.90 |
0.15 |
0.8 |
547 |
219 |
CA17-052 |
143.35 |
160.12 |
16.77 |
0.88 |
8.9 |
83 |
337 |
including |
147.92 |
155.55 |
7.63 |
1.77 |
18.1 |
54 |
84 |
2nd Zone |
179.20 |
206.50 |
27.30 |
0.39 |
2.2 |
179 |
98 |
including |
180.88 |
184.08 |
3.20 |
1.79 |
6.1 |
482 |
125 |
3rd Zone |
297.50 |
361.00 |
63.50 |
0.34 |
4.7 |
471 |
1,100 |
with |
309.00 |
315.67 |
6.67 |
1.80 |
6.2 |
1,033 |
136 |
HG Zone |
377.18 |
378.56 |
1.38 |
54.80 |
12.6 |
202 |
22,100 |
CA17-054 |
57.00 |
259.64 |
202.64 |
0.25 |
4.2 |
531 |
403 |
including |
57.00 |
59.47 |
2.47 |
1.59 |
12.2 |
863 |
3,046 |
and |
124.85 |
131.87 |
7.02 |
0.94 |
9.1 |
195 |
1,155 |
with |
124.85 |
126.4 |
1.55 |
2.49 |
28.9 |
151 |
2,806 |
and |
137.25 |
138.77 |
1.52 |
2.79 |
262.0 |
2,013 |
12,900 |
with |
246.40 |
257.36 |
10.96 |
0.58 |
10.6 |
750 |
861 |
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Notes: |
- Intervals
are core lengths / true width are estimated to be 80-90% of
lengths |
|
- Length
weighted averages from uncut assays. |
|
-
additional details and maps posted on web site. |
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