Calibre Continues To Expand Zones of High-Grade Gold Mineralization within the Limon Mine Complex; Initial Results Include 9.67 g/t Gold Over 13.3 Metres and 8.94 g/t Gold Over 10.1 Metres
September 12 2023 - 6:00AM
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the
"Company" or "Calibre") is pleased to announce results from its
resource expansion and infill drilling program at the high-grade
Atravesada underground deposit located within the Limon Mine
Complex, 2 km west of the Limon processing plant. These high-grade
intercepts continue to demonstrate the resource expansion potential
at the Limon Mine complex. While the main exploration efforts at
Limon have targeted extensions along the VTEM Gold Corridor (see
news release dated July 18, 2023), the Limon district remains
expansive with expansion and discovery potential across the entire
property package.
Drill intercept highlights at Atravesada
underground include:
- 9.67 g/t Au over 13.3 metres ETW
including 15.77 g/t Au over 7.9 metres ETW in Hole LIM-22-4711
- 15.32 g/t Au over 4.3 metres ETW
including 28.71 g/t Au over 2.3 metres ETW in Hole LIM-22-4715
- 8.94 g/t Au over 10.1 metres ETW
including 22.43 g/t Au over 3.3 metres ETW in Hole LIM-22-4719
- 7.66 g/t Au over 7.1 metres ETW
including 14.55 g/t Au over 3.4 metres ETW in Hole LIM-22-4725
- 16.30 g/t Au over 1.9 metres ETW
including 30.50 g/t Au over 1.0 metres ETW in Hole LIM-22-4729
- 6.22 g/t Au over 8.9 metres ETW
including 11.07 g/t Au over 4.3 metres ETW in Hole LIM-22-4734
Darren Hall, President & Chief
Executive Officer of Calibre, stated: “I am pleased to see
such high grade in proximity to existing underground development
within the Limon Mining Complex which has produced more than four
million ounces of gold. Drilling at Atravesada has returned
high-grade intercepts over significant widths which the team
anticipates will lead to additional resources and reserves.”
Link 1 – FiguresLink
2 – Drilling Tables
Quality Assurance/Quality
Control
Calibre maintains a Quality Assurance/Quality
Control ("QA/QC") program for all its exploration projects using
industry best practices. Key elements of the QA/QC program include
verifiable chain of custody for samples, regular insertion of
certified reference standards and blanks, and duplicate check
assays. Drill core is halved and shipped in sealed bags to Bureau
Veritas in Managua, Nicaragua, an independent analytical services
provider with global certifications for Quality Management Systems
ISO 9001:2008, Environmental Management: ISO14001 and Safety
Management OH SAS 18001 and AS4801. Prior to analysis, samples are
prepared at Veritas' Managua facility and then shipped to its
analytical facility in Vancouver, Canada. Gold analyses are
routinely performed via fire assay/AA finish methods. For greater
precision of high-grade material, samples assaying 10 g/t Au
or higher are re-assayed by fire assay with gravimetric finish.
Analyses for silver and other elements of interest are performed
via Induction Coupled Plasma (ICP).
Qualified Person
The scientific and technical information
contained in this news release was approved by David Schonfeldt
P.GEO, Calibre Mining’s Corporate Chief Geologist and a "Qualified
Person" under National Instrument 43-101.
ON BEHALF OF THE BOARD
"Darren Hall"
Darren Hall, President and Chief Executive
Officer
For further information, please contact:
Ryan KingSenior Vice President, Corporate
Development & IRT: (604) 628-1012E: calibre@calibremining.comW:
www.calibremining.com
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed, Americas
focused, growing mid-tier gold producer with a strong pipeline of
development and exploration opportunities across Nevada and
Washington in the USA, and Nicaragua. Calibre is focused on
delivering sustainable value for shareholders, local communities
and all stakeholders through responsible operations and a
disciplined approach to growth. With a strong balance sheet, a
proven management team, strong operating cash flow, accretive
development projects and district-scale exploration opportunities
Calibre will unlock significant value.
Cautionary Note Regarding Forward Looking
Information
This news release includes certain
"forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of
applicable Canadian securities legislation. All statements in this
news release that address events or developments that we expect to
occur in the future are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
identified by words such as "expect", "plan", "anticipate",
"project", "target", "potential", "schedule", "forecast", "budget",
"estimate", "intend" or "believe" and similar expressions or their
negative connotations, or that events or conditions "will",
"would", "may", "could", "should" or "might" occur. Forward-looking
statements in this news release include, but are not limited to:
the Company’s expectations toward higher grades mined and processed
going forward; statements relating to the Company’s 2023 priority
resource expansion opportunities; the Company’s metal price and
cut-off grade assumptions. Forward-looking statements necessarily
involve assumptions, risks and uncertainties, certain of which are
beyond Calibre's control. For a listing of risk factors applicable
to the Company, please refer to Calibre's annual information form
(“AIF”) for the year ended December 31, 2022, and its management
discussion and analysis (“MD&A”) for the year ended December
31, 2022, all available on the Company’s SEDAR+ profile at
www.sedar.com. This list is not exhaustive of the factors that may
affect Calibre's forward-looking statements such as potential
sanctions implemented as a result of the United States Executive
Order 13851 dated October 24, 2022.
Calibre's forward-looking statements are based
on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information
available to management at such time. Such assumptions include but
are not limited to: the Company being able to mine and process
higher grades and keep production costs relatively flat going
forward; there not being an increase in production costs as a
result of any supply chain issues or ongoing COVID-19 restrictions;
there being no adverse drop in metal price or cut-off grade at the
Company’s Nevada properties. Calibre does not assume any obligation
to update forward-looking statements if circumstances or
management's beliefs, expectations or opinions should change other
than as required by applicable securities laws. There can be no
assurance that forward-looking statements will prove to be
accurate, and actual results, performance or achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements. Accordingly, undue reliance should not
be placed on forward-looking statements.
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