Calibre Mining Corp. (TSX: CXB) has obtained further high-grade results from step-out drilling along the Panteon VTEM Gold Corridor within the Limon Mine Complex in Nicaragua.
These new intercepts continue to demonstrate the potential of the multi-kilometre long structure identified by our 2022 VTEM geophysical survey released on December 8, 2022.
The latest results are located more than two kilometres north of Panteon North which has had numerous bonanza grade gold intercepts to-date as evidenced in our most recent press release here.
The Panteon North Maiden Reserve estimate added positively to the company’s 2022 Mineral Reserve statement adding approximately 244,000oz of gold (0.8Mt at 9.45g/t) to the Nicaragua Mineral Reserves.
New drill intercept along the Panteon VTEM Geophysical Gold Corridor includes: 17.45g/t Au over 4.1m Estimated True Width (ETW) including 38.45g/t Au over 1.8m ETW in Hole LIM-22-4736.
December 8, 2022 initial discovery drill results along the Panteon VTEM Gold Corridor include: 11.61g/t Au over 9.3m ETW including 23.93g/t Au over 1.7m ETW, and 15.34g/t Au over 3.9m ETW in Hole LIM-22-4701, 6.73g/t Au over 2.1m ETW in Hole LIM-22-4689, and 3.67g/t Au over 2.6m ETW including 11.10g/t Au over 0.7m ETW in Hole LIM-22-4684.
New Panteon North drill results outside year-end 2022 Reserve and Resources include:
- 29.68g/t Au over 4.3m ETW in Hole LIM-22-4724;
- 24.03g/t Au over 2.0m ETW in Hole LIM-22-4718, 12.97g/t Au over 1.1m in Hole LIM-22-4712;
- 12.18g/t Au over 3.7m ETW in Hole LIM-22-4710, 11.57g/t Au over 2.4m ETW in Hole LIM-22-4717;
- 6.14g/t Au over 4.9m ETW including 14.47g/t Au over 1.8m ETW in Hole LIM-22-4705, and
- 9.17g/t Au over 1.1m ETW in Hole LIM-22-4732, 5.75g/t Au over 1.5m ETW in Hole LIM-22-4727.
“Our 2022 drilling campaign was very successful, with the discovery of the high-grade Panteon North gold shoot which hosts a maiden Mineral Reserve of 244,000oz of gold (0.8Mt grading 9.45g/t gold),” President and CEO, Darren Hall, said.
“I am encouraged that our team continues to intersect high-grade drill results along the VTEM Gold Corridor demonstrating the potential to expand the initial Panteon North reserve and make new discoveries.
“Given the excess capacity in our Libertad plant, and our proven operating strategy, new discoveries can quickly become accretive for us. With two drill rigs active on the Panteon VTEM gold corridor and four rigs across our Nicaraguan projects, we will complete over 60km of drilling in Nicaragua and look forward to the additional drill results from our 2023 programme.”
For further information please visit: https://www.calibremining.com/
