Calibre & B2Gold Trench Extension Intercepts 30.5 Metres Grading 2.01 g/t Gold at the Minnesota Gold Project, Borosi Concessi...
June 17 2014 - 9:15AM
Marketwired
Calibre and B2Gold Trench Extension Intercepts 30.5 Metres Grading
2.01 g/t Gold at the Minnesota Gold Project, Borosi Concessions,
Nicaragua
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 17, 2014) -
Calibre Mining Corp. (TSX-VENTURE:CXB) (the "Company" or "Calibre")
is pleased to announce results from follow-up trenching and
sampling at the Minnesota gold project within the B2Gold Corp.
("B2Gold") (TSX:BTO)(NYSEMKT:BTG) Joint Venture on the Borosi
concessions, northeast Nicaragua. Calibre controls a 49.0% interest
in the joint venture and B2Gold has a 51.0% interest and is project
operator. B2Gold has the right to earn an additional 19.0% in the
Borosi concessions joint venture by spending $6.0 million in
additional project expenditures over three years. The 2014
exploration program on the B2Gold joint venture is budgeted at $1.2
million.
Highlights
- Trenching at the Minnesota Gold Project has extended gold
mineralization intercepting 30.5 metres grading 2.01 g/t Au. The
trenching is located within a 700 metre by 125 metre auger sampling
gold anomaly.
The latest results on the Minnesota Gold Project have extended
the previously defined gold mineralization and have identified a
new target located near the main trend.
Results for trenching completed by B2Gold returned 14.7 m
grading 2.31 g/t Au in trench MINTR14-007. Trench MINTR14-007 is an
extension to the south of Trench MINTR14-006 which intersected 14.8
m grading 1.85 g/t Au (see Calibre New Release dated May 7, 2014).
The gold mineralization in the trenches remains open to the north
and south.
Table 1 -
Trenching Results - Minnesota Gold Project
Trench ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
MINTR14-006* |
0.0 |
14.8 |
14.8 |
1.85 |
MINTR14-007 |
0.0 |
14.7 |
14.7 |
2.31 |
MINTR14-006/7** |
0.0 |
30.5 |
30.5 |
2.01 |
Notes; |
* previously
reported |
|
Length weighted
averages from uncut assays. |
|
Mineralized
intervals are open to the north and south. |
|
**Trench
MINTR14-006+ MINTR14-007 weighted average assigns no grade to a
1.0m gap left unsampled between the two trenches |
The Minnesota target area consists of intrusive hosted veinlets
within a structurally prepared area with widespread alteration. The
target is defined by a strong 1.75 km x 1.25 km gold in soil
anomaly.
Recent sampling by B2Gold has identified new gold mineralization
located approximately one kilometre to the north-northeast of
trenches MINTR14-006 and MINTR14-007. The sampling returned three
samples with greater than one gram per tonne gold including 1.86
g/t Au, 1.68 g/t Au and 5.99 g/t Au. The anomalous gold samples are
located well off of the main mineralized trend and the
mineralization is similar in style to mineralization in trenches
MINTR14-006 and MINTR14-007.
Results for a series of gridded auger holes which have been
completed within and to the northeast of the existing surface
anomaly have further defined the nature and extent of the gold
mineralization. The auger anomaly is approximately 125 metres wide
with gold assays consistently above 100ppb Au. Trenches MINTR14-006
and MINTR14-007 are located within the extended anomaly. Overall
the anomalous trench and auger rock samples define an area of
pervasive gold mineralization approximately 700 metres long and up
to 125 metres wide. Trenching and auger sampling continues on the
Minnesota gold project.
Updated maps detailing the result of the current exploration
program at the Minnesota Gold Project will be posted on the
Company's web site at www.calibremining.com.
Quality assurance and quality control procedures include the
systematic insertion of blanks, standards and duplicates into the
rock and soil sample strings. Samples are placed in sealed bags and
shipped directly to Acme Labs in Managua, Nicaragua for sample
preparation and then to Acme Labs in Vancouver, Canada for 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 controls a 100% interest in 253 km2 of mineral
concessions in the Mining Triangle of Northeast Nicaragua.
Additionally the Company has an option agreement with IAMGOLD
covering 176 km2 of concessions, joint venture exploration programs
underway with B2Gold Corp. on 322.3 km2 of concessions which
includes the Primavera gold-copper porphyry discovery, and has
optioned the 33.6 km2 Rosita gold-copper-silver project to Alder
Resources Ltd. Major shareholders of Calibre include gold producer
B2Gold Corp.
Calibre Mining Corp.
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.
Calibre Mining Corp.Ryan King604
628-1012www.calibremining.com
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