Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has confirmed good continuity of gold mineralisation over a 1.5 km strike length to a depth ranging from 100 to 250m in exploration drilling at the Volcán trend located within five km of the Libertad mill in Nicaragua.
Highlights
- Eight of nine holes intercepted at least one vein structure hosting significant gold grades over estimated true widths ranging from 1.5 to 10m
- A central zone of significantly higher-grade mineralisation extends at depth between 150 and 250m from surface
- To date, drilling has only tested a 1.5 km section of the five km Volcán trend.
Volcán Deposit Drill Results
- 15.6 g/t gold over 4.9m from 96m and 7.88 g/t gold over 3.4m from 116m (VN-21-041)
- 3.91 g/t gold over 1.4 metres ETW from 100m and 4.13 g/t gold over 9.2m from 122m (VN-21-043)
- 8.75 g/t gold over 1.8 metres from 165m and 3.80 g/t gold over 1.8 metres ETW from 214 metres (VN-21-044)
“We are excited to report these latest drill results from our exploration programme at Libertad confirming a second zone of high-grade gold mineralization along the prospective Volcán trend,” President and CEO, Darren Hall, said.
“In addition to delineating a 1.5 km trend of near-surface gold mineralisation, the discovery of a high-grade core zone which remains open at depth presents an opportunity to deliver another source of low-cost, high-margin mill feed within close proximity to the Libertad mill.
“Together with the delineation and resource conversion campaigns at the nearby Tranca and Rosario deposits, we continue to see excellent potential to leverage the plus one million tonnes of excess processing capacity at Libertad.
“As we continue to identify new targets and expand resources at both our mine sites and exploration concessions, we are only beginning to realise the significant discovery potential our portfolio of mineral concessions has to offer.
“As we approach the close of 2021, our exploration and resource delineation drilling programmes continue at Libertad, Pavon Central, Limon and Eastern Borosi, setting us up for an exciting 2022.”
2021 Cerro Volcán Exploration Drill Program
Since confirming the presence of near surface high grade gold mineralisation at Cerro Volcán earlier this year, Calibre has continued exploring the Volcán vein trend as it extends along strike to the southwest.
Drilling to date has tested two zones of near surface mineralisation along the trend which has been traced by surface mapping and sampling for approximately five kilometres along strike. Most recently, drilling has focused on an untested 600-metre gap between the two zones, confirming both the continuity of near surface gold mineralisation along a 1.5 km section of the Volcán structure as well the presence of a new zone of higher-grade gold mineralisation beginning at approximately 150m vertical depth from surface and extending approximately 300m along strike.
This new zone remains open at depth and in both directions along strike. Previous drilling completed in 2012 and 2017 by B2Gold tested the upper 100 metres in two areas along the Volcan trend, returning localised high-grade intercepts including 9.69 g/t gold over 10.7 metres ETW from 49m 10.56 g/t gold over 4.5m from 41.2m, and 5.78 g/t gold over 4.1m from 111.2m.
The company plans to continue systematic exploration drilling along the Volcán trend done in tandem with the generation of new drill targets in the highly prospective Cosmatillo area.
For further information please visit: https://www.calibremining.com/
