Excerpt from Stockwatch Gold-CXB Darren Hall's Calibre Mining Corp. (CXB) rose six cents to $1.06 on 1.21 million shares on word it has more gold to tout. The company now has a reserve of 6.27 million tonnes averaging 3.37 grams of gold and 16.3 grams of silver per tonne in Nicaragua, good for 1.08 million ounces of gold and 3.28 million ounces of silver spread across its El Limon and La Libertad operations. There is much more gold and silver present as a resource -- over three million ounces of gold and 15 million ounces of silver.
In Nevada, Calibre has a reserve of 19.8 million tonnes at 0.37 gram of gold per tonne at its Pan mine, about 264,000 ounces, but it also has a resource of about 2.8 million ounces of additional gold and just over 10 million ounces of silver in the state -- most of it residing at the Golden Eagle project.
Mr. Hall, president and CEO, applauded the Nicaraguan result as a significant increase in value since the company acquired the assets late in 2019. He pointed to last year's discovery of the high-grade ore shoot at Panteon North, a part of El Limon, as contributing 244,000 of the ounces at 9.45 grams per tonne. He is also enthused about the area surrounding Panteon North, as he cheers a recent 9.3-metre hit that returned 11.6 grams of gold per tonne along a corridor 1,500 metres to the northeast -- rock not yet included in the resource.