News out this morning-CXB
Calibre Mining produces 65,750 oz Au in Q1
2023-04-04 07:57 ET - News Release
Mr. Darren Hall reports
CALIBRE DELIVERS RECORD Q1 GOLD PRODUCTION OF 65,750 OUNCES; PAVON CENTRAL DELIVERS HIGH-GRADE MILL FEED AHEAD OF SCHEDULE
Calibre Mining Corp. has provided its operating results for the three months ended March 31, 2023 (all financial amounts are expressed in U.S. dollars).
Q1 2023 Highlights
Consolidated quarterly gold production of 65,750 ounces and gold sales of 65,770 ounces:
27% increase in gold production compared to Q1 2022 (51,898 ounces);
Nicaragua gold production of 54,997 ounces and Nevada gold production of 10,753 ounces;
Consolidated 2022 Mineral Reserves increased 370%, since acquisition in 2019, to 1,346,000 ounces gold (see press release dated February 14, 2023):
Nicaragua Mineral Reserve grade increased 16%, 1,082,000 ounces at a grade of 5.37 g/t gold;
Nevada Mineral Reserves increased 23% to 264,000 ounces at a grade of 0.37 g/t gold;
Consolidated 2022 M&I Mineral Resources increased to 4,603,000 ounces gold (see press release dated February 14, 2023);
High-grade mining commenced ahead of schedule at Pavon Central open pit averaging a delivery rate 1,000 tonnes per day to the Libertad mill (see press release dated March 15, 2023);
Continued expansion of the high-grade gold discovery at Panteon North and along the VTEM Gold Corridor within the Limon Complex (see press release dated March 21, 2023):
17.45 g/t Au over 4.1 metres Estimated True Width ("ETW") including 38.45 g/t Au over 1.8 metres ETW;
29.68 g/t Au over 4.3 metres ETW;
The Panteon North maiden Reserve estimate added 244,000 ounces at 9.4 g/t gold to the Company's 2022 Mineral Reserve statement (see press release dated February 14, 2023);
New "Coyote" discovery at the Pan Mine in Nevada indicates the potential for resource expansion to the south (see press release dated January 17, 2023): 1.36 g/t Au over 13.7 metres including 2.78 g/t Au over 4.6 metres;
Phase 1 drill results from the Golden Eagle Project, located in Washington State, confirm a robust mineral system with consistent gold grades over broad widths (see press release dated January 24, 2023) :
4.30 g/t Au over 92.42 metres including 7.80 g/t Au over 17.3 metres, and 2.90 g/t Au over 195.1 metres;
Darren Hall, President & Chief Executive Officer of Calibre, stated: "I am very pleased with the teams' first quarter performance, delivering a record 65,750 ounces. Being above budget at the end of the quarter, with Pavon Central ahead of schedule and Eastern Borosi on track for production in Q2 we are well positioned to deliver our full year production guidance of 250,000 - 275,000 ounces.
With numerous drill rigs turning across our entire asset portfolio, our exploration investment continues to yield exciting results as we expand the high-grade gold discovery at Panteon North and the VTEM Gold Corridor and make new discoveries at Pan where drilling indicates the strong potential for resource expansion.
2023 will be a transformational year, driven by an organic 20% increase in production, strong free cash flow, and significant exploration to expand recent high-grade gold discoveries not included in our multi-year, grade driven production increase strategy."
Q1 2023 Financial Results and Conference Call Details
First quarter financial results will be released after market close on Monday, May 8, 2023, and management will be hosting a conference call on Tuesday, May 9 to discuss the results and outlook in more detail.
Date: Tuesday, May 9, 2023
Time: 10:00 a.m. (ET)
Webcast Link: https://edge.media-server.com/mmc/p/77jbhopx
Instructions for obtaining conference call dial-in numbers:
All parties must register at the link below to participate in Calibres' Q1 2023 conference call.
Register by clicking https://register.vevent.com/register/BIcbb8f6f89d254adb83115fe6e956e5f3 and completing the online registration form.
Once registered you will receive the dial-in numbers and PIN number for input at the time of the call.
The live webcast and registration link can be accessed here and at www.calibremining.com under the Events and Media section under the Investors tab. The live audio webcast will be archived and available for replay for 12 months after the event at www.calibremining.com. Presentation slides that will accompany the conference call will be made available in the Investors section of the Calibre website under Presentations prior to the conference call.
Qualified Person
Darren Hall, MAusIMM, President and Chief Executive Officer, of Calibre Mining Corp. is a "qualified person" as set out under NI 43-101 and has reviewed and approved the scientific and technical information in this press release.