Calibre Mining Corp T.CXB

Alternate Symbol(s): CXBMF

Metals & Mining Gold

Calibre Mining Corp. is a Canadian mid-tier gold producer. The Company has a pipeline of development and exploration opportunities across Newfoundland and Labrador in Canada, Nevada and Washington in the United States, and Nicaragua. It owns several operational open-pit and underground mines, two milling facilities (the El Limon and La Libertad mines), and a portfolio of exploration and development opportunities in Nicaragua, Central America. In addition to its mining operations in Nicaragua, it also engaged in the exploration and development of several concessions at its 100%-owned Eastern Borosi Gold-Silver Project (EBP), which includes the Eastern Borosi Mines (EBM). It holds a 100% interest in Fiore’s Pan Mine, a producing heap leach gold operation. It owns the adjacent advanced-stage Gold Rock Project and, the past producing Illipah Gold Project in Nevada, as well as the Golden Eagle project. It also owns the advanced-stage Valentine Gold Project in Newfoundland and Labrador.

TSX:CXB - Post by User

Calibre Mining Corp

Bullboard Posts

Post by crowcreekkateon Aug 24, 2011 9:27am

398 Views

Post# 18974102

Diamond drill program...

Edward Farrauto, President and CEO of Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to announce that the Company has commenced a planned 6,000 metre diamond drill program at its 100% owned, Riscos de Oro epithermal gold-silver vein stockwork system in northeast Nicaragua.
Calibre has previously completed two drilling programs at the Riscos de Oro project totalling 4,600 metres, which successfully delineated high-grade gold and silver mineralization over a strike length of 600 metres and to a depth of 300 metres. Highlights from the previous drill programs include hole RD10-009 which intersected 4.23 g/t gold and 384.86 g/t silver over 8.53 metres; hole RD11-010 intersected 10.25 g/t gold and 288.25 g/t silver over 5.40 metres; and hole RD11-012 that intersected 7.69 g/t gold and 211.87 g/t silver over 10.60 metres.
Edward Farrauto, President and CEO of Calibre stated: "We are pleased to initiate an extensive resource delineation drill program at our 100% owned Riscos de Oro gold-silver deposit. This impressive, high grade gold-silver system is open for expansion in all directions. On completion of the current drill campaign Calibre intends to complete the first NI 43-101 resource estimate for the Riscos de Oro deposit."
The current resource delineation drill program will be Calibre's most significant and extensive exploration program to date. The program will include:
-- infill and step out drilling in order to define the full extent of the
high-grade gold-silver mineralization encountered in previous drilling;
-- reconnaissance drilling to test new gold in soil anomalies along the 7.0
km long structure that hosts the Riscos de Oro deposit
-- deeper drilling in order to better define the extent and geometry of
multiple stacked gold-silver stockwork zones
The program will initially be undertaken with one drill rig with a second rig being mobilized to the project by September 2011. The total budget for this diamond drilling program is $1.6 million. An up-to-date drill plan map and longitudinal section are available at www.calibremining.com.
The technical content in this news release was read and approved by Gregory Smith, P.Geo., Vice President, Exploration and a Qualified Person ("QP") as defined by NI 43-101.

Bullboard Posts

Paramount Resources signs $3.32 billion asset sale