Calibre Mining Announces Results from 2018 Diamond Drilling Program on the 100% Owned Primavera Gold-Copper Porphyry Project,...
August 23 2018 - 9:15AM
Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”)
announces the results from the 2018 diamond drilling program on the
100% owned Primavera Gold-Copper Porphyry Project, Nicaragua.
Highlights
- The 2018 reconnaissance drilling
program consisted of 10 holes totaling 2,052 metres.
- Two target areas with similar
geological and geochemical characteristics to the Primavera Deposit
were tested in 2018; 1) the San Isidro Zone consisting of a three
by two kilometre gold/copper soil and rock anomaly, located five
kilometres west of the Primavera Gold-Copper Porphyry Deposit and
2) the San Francisco Target a three by two kilometre gold/copper
soil and rock anomaly located three kilometres south of
Primavera.
- 2018 drilling intersected
wide-spread gold and copper mineralization including;
- At San Isidro a series of
structurally controlled quartz breccias with results including; 8.2
metres grading 1.67 g/t Au and 0.039 % Cu (SI18-002) and 2.0 metres
grading 5.60 g/t Au and 0.043 % Cu (SI18-005).
- At San Francisco drilling
intercepted broad gold and copper anomalous mineralization
associated with propylitic alteration and variable quartz veining
with results including 175.0 metres grading 0.19 g/t Au and 0.021 %
Cu (SF18-001) and 51.85 metres grading 0.21 g/t Au and 0.013 % Cu
(SF18-002).
Greg Smith, President and CEO of Calibre stated:
“We continue to test a series of high profile drill targets in the
district surrounding our flagship 100% owned Primavera Gold-Copper
Porphyry Deposit. Wide spaced reconnaissance drilling of 10
holes targeted the San Isidro and San Francisco gold-copper zones
that encompass a total of 12 km2 of gold/copper soil and rock
anomalies. The wide-spread nature of the gold and copper
mineralization on the Primavera Project highlights the potential
for additional discoveries.”
Highlights of the H1 2018 Primavera Project
diamond drilling program include;
HoleID |
|
TargetZone |
From(m) |
To(m) |
Interval(m) |
Au(g/t) |
Cu(%) |
AuEq(g/t) |
SF18-001 |
|
San Francisco |
0.00 |
175.00 |
175.00 |
0.19 |
0.021 |
0.22 |
SF18-001 |
incl |
San Francisco |
0.00 |
23.58 |
23.58 |
0.89 |
0.025 |
0.92 |
SF18-002 |
|
San Francisco |
99.12 |
150.97 |
51.85 |
0.21 |
0.013 |
0.23 |
SI18-002 |
|
San Isidro 1 |
83.00 |
91.20 |
8.20 |
1.67 |
0.039 |
1.73 |
SI18-002 |
incl |
San Isidro 1 |
83.00 |
85.50 |
2.50 |
5.33 |
0.001 |
5.33 |
SI18-005 |
|
San Isidro 2 |
22.00 |
24.00 |
2.00 |
5.60 |
0.043 |
5.67 |
SI18-003 |
|
San Isidro 1 |
87.63 |
100.77 |
13.14 |
0.08 |
0.321 |
0.59 |
SI18-004 |
|
San Isidro 2 |
186.05 |
188.00 |
1.95 |
3.38 |
0.007 |
3.39 |
|
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Notes: |
|
- H1 2018
Drilling Highlights. See final table for complete results.-
Intervals are core lengths / true width are estimated to be 80-90%
of lengths - Length weighted averages from uncut assays.- AuEq g/t
calculated using $1300/oz gold and $3.00/lb copper. |
|
|
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|
2018 Exploration and Drilling
ProgramExploration completed in the first half of 2018
included rock and soil geochemistry, geological mapping, and test
pits designed to further define drill targets within the
multi-kilometre scale anomalies. Reconnaissance diamond drilling
was then completed consisting of 10 holes totaling 2052.62 metres
comprised of eight holes (1645.45 metres) on the San Isidro target
located five kilometre west of Primavera and two holes (407.17
metres) testing the San Francisco target 3 kilometres southeast of
the main zone at the Primavera deposit.
In both areas tested during 2018 the geology
consists of andesitic volcanic flows and tuffs with narrow to
moderate sections of diorite intrusions. Alteration is
widespread and includes propylitic (epidote-chlorite-pyrite),
potassic (biotite and magnetite) as well as common silicification
and quartz +/-carbonate veins and breccias. Sulphides occur
as disseminations, veinlets, and within the veins and breccias and
consist of variable amounts of pyrite and chalcopyrite, with lesser
sphalerite and galena.
The San Isidro Target is a 2.0 kilometre by 3.0
kilometre anomaly defined using rock and soil geochemistry.
The geology is similar to Primavera dominated by andesitic
volcanics and diorite intrusions. The geochemical signature
varies slightly with significantly elevated lead, zinc, and
antimony occurring with the copper and gold. The H1 2018
drilling tested three linear, kilometre-scale targets within the
San Isidro Target. Results at San Isidro are highlighted by
SI18-002 which intersected 8.2 metres grading 1.67 g/t Au and 0.039
% Cu which included a gold dominant subinterval of 2.5 metres
grading 5.33 g/t Au. Additionally, drill hole SI18-005
intersected 2.0 metres grading 5.60 g/t Au and 0.043 % Cu and
SI18-003 intersected copper mineralization with 13.14 metres
grading 0.321% Cu and 0.08 g/t Au (interval also contains 0.5%
Zn). The mineralization consists of brecciated andesite
volcanics with quartz-carbonate breccias containing variable
amounts of pyrite and chalcopyrite and lesser galena and
sphalerite.
The H1 2018 diamond drilling also tested the San
Francisco Target which is associated with a diorite stock located
three kilometres southeast of the main zone at the Primavera
deposit. Gold and copper values up to 443ppb Au and 511ppm Cu
were returned in soils along the southern margin of the diorite
stock. Weak to moderate potassic alteration with disseminated
magnetite and quartz-pyrite-magnetite+/-chalcopyrite veinlets have
been observed in grab samples in the field. Two holes were
drilled approximately 350 metres apart. SF18-001, intersected
andesite porphyry cut by a series of porphyritic diorite
dykes. The andesite is moderately altered by chlorite and
epidote with bands and patches of potassic alteration.
Disseminated sulphides are common dominated by pyrite with lesser
chalcopyrite. SF18-002, intersected andesite volcanics
cut by a large equigranular diorite intrusion (91 – 175m).
The diorite is moderately to strongly propylitically altered by
chlorite and epidote with veinlets and patches of massive sulphides
comprised of pyrite with lesser chalcopyrite. Results at San
Francisco include SF18-001 which intersected 175.0 metres grading
0.19 g/t Au and 0.021 % Cu which included a near surface gold
dominant subinterval of 23.58 metres grading 0.89 g/t Au and 0.025
% Cu and SF18-002 which intersected 51.85 metres grading 0.21 g/t
Au and 0.013 % Cu.
Primavera Gold-Copper Porphyry
DepositThe Primavera Deposit consists of classic porphyry
style gold-copper mineralization. Primavera is the first
porphyry gold-copper project discovered in Nicaragua and the
mineralization remains open for expansion. A maiden
resource estimated in December 2016 for the Primavera Gold-Copper
Porphyry Deposit contains an Inferred Resource at a 0.5 g/t AuEq
cutoff of 45.0 million tonnes grading 0.84 g/t AuEq containing
782,000 ounces of gold, 1.7 million ounces of silver and 219
million pounds of copper (1.2 million AuEq ounces) – see News
Release Dec 13, 2016. Drilling to date has tested less than
10% of the surface geochemical, geophysical, and geological anomaly
associated with the Project. Notes: CIM definition
standards were followed. Ordinary Kriging grade estimation
within wireframed solids. Gold Equivalent (AuEq) calculated using
$1300/oz Au, $2.40/lb Cu, and $20.00/oz Ag. Mineral Resources that
are not mineral reserves do not have economic viability. Inferred
resources are uncertain in nature. All details included in a
National Instrument 43-101 technical report available on SEDAR
prepared by Todd McCracken, P.Geo. of WSP, who is independent of
Calibre and a Qualified Person (“QP”) as defined by Section 1.5 of
National Instrument 43-101.
Calibre Mining Best
PracticeCalibre 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 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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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.
Hole ID |
|
Target |
From(m) |
To(m) |
Interval(m) |
Au (g/t) |
Cu (%) |
AuEq(g/t) |
SI18-001 |
|
San Isidro 1 |
109.60 |
114.00 |
4.40 |
0.07 |
0.001 |
0.07 |
SI18-001 |
2nd |
San Isidro 1 |
141.00 |
148.50 |
7.50 |
0.09 |
0.049 |
0.17 |
SI18-001 |
incl |
San Isidro 1 |
145.00 |
146.00 |
1.00 |
0.38 |
0.056 |
0.47 |
SI18-002 |
|
San Isidro 1 |
56.00 |
60.00 |
4.00 |
0.10 |
0.009 |
0.11 |
SI18-002 |
2nd |
San Isidro 1 |
67.50 |
69.00 |
1.50 |
0.45 |
0.001 |
0.45 |
SI18-002 |
3rd |
San Isidro 1 |
83.00 |
91.20 |
8.20 |
1.67 |
0.039 |
1.73 |
SI18-002 |
incl |
San Isidro 1 |
83.00 |
85.50 |
2.50 |
5.33 |
0.001 |
5.33 |
SI18-003 |
|
San Isidro 1 |
87.63 |
100.77 |
13.14 |
0.08 |
0.321 |
0.59 |
SI18-003 |
incl |
San Isidro 1 |
94.10 |
99.00 |
4.90 |
0.10 |
0.623 |
1.09 |
SI18-003 |
2nd |
San Isidro 1 |
186.05 |
190.62 |
4.57 |
0.08 |
0.056 |
0.17 |
SI18-004 |
|
San Isidro 2 |
20.00 |
28.00 |
8.00 |
0.13 |
0.011 |
0.14 |
SI18-004 |
2nd |
San Isidro 2 |
53.37 |
61.40 |
8.03 |
0.09 |
0.030 |
0.13 |
SI18-004 |
3rd |
San Isidro 2 |
155.25 |
157.07 |
1.82 |
0.56 |
0.008 |
0.57 |
SI18-004 |
4th |
San Isidro 2 |
186.05 |
188.00 |
1.95 |
3.38 |
0.007 |
3.39 |
SI18-004 |
5th |
San Isidro 2 |
192.00 |
198.00 |
6.00 |
0.15 |
0.009 |
0.16 |
SI18-005 |
|
San Isidro 2 |
22.00 |
24.00 |
2.00 |
5.60 |
0.043 |
5.67 |
SI18-005 |
2nd |
San Isidro 2 |
27.45 |
30.50 |
3.05 |
0.09 |
0.015 |
0.11 |
SI18-005 |
3rd |
San Isidro 2 |
38.00 |
54.10 |
16.10 |
0.12 |
0.012 |
0.14 |
SI18-005 |
incl |
San Isidro 2 |
53.00 |
54.10 |
1.10 |
1.00 |
0.011 |
1.02 |
SI18-005 |
4th |
San Isidro 2 |
123.30 |
129.62 |
6.32 |
0.32 |
0.102 |
0.48 |
SI18-005 |
5th |
San Isidro 2 |
138.77 |
140.30 |
1.53 |
0.89 |
0.011 |
0.90 |
SI18-005 |
6th |
San Isidro 2 |
147.00 |
159.50 |
12.50 |
0.07 |
0.056 |
0.16 |
SI18-006 |
|
San Isidro 2 |
62.00 |
64.45 |
2.45 |
0.14 |
0.008 |
0.15 |
SI18-006 |
2nd |
San Isidro 2 |
113.00 |
119.60 |
6.60 |
0.05 |
0.074 |
0.17 |
SI18-007 |
|
San Isidro 3 |
61.10 |
61.50 |
0.40 |
0.01 |
0.150 |
0.25 |
SI18-008 |
|
San Isidro 3 |
10.00 |
17.00 |
7.00 |
0.08 |
0.069 |
0.19 |
SI18-008 |
2nd |
San Isidro 3 |
43.00 |
46.30 |
3.30 |
0.12 |
0.496 |
0.90 |
SF18-001 |
|
San Francisco |
0.00 |
175.00 |
175.00 |
0.19 |
0.021 |
0.22 |
SF18-001 |
incl |
San Francisco |
0.00 |
23.58 |
23.58 |
0.89 |
0.025 |
0.92 |
SF18-001 |
incl |
San Francisco |
4.00 |
12.20 |
8.20 |
1.86 |
0.027 |
1.90 |
SF18-001 |
incl |
San Francisco |
4.00 |
8.00 |
4.00 |
2.74 |
0.023 |
2.78 |
SF18-001 |
incl |
San Francisco |
37.00 |
79.30 |
42.30 |
0.14 |
0.022 |
0.17 |
SF18-002 |
|
San Francisco |
73.20 |
81.80 |
8.60 |
0.28 |
0.015 |
0.30 |
SF18-002 |
|
San Francisco |
99.12 |
150.97 |
51.85 |
0.21 |
0.013 |
0.23 |
SF18-002 |
incl |
San Francisco |
112.85 |
114.37 |
1.52 |
4.00 |
0.012 |
4.02 |
|
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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.- AuEq g/t calculated
using $1300/oz gold and $3.00/lb copper. |
|
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