RE:RE:RE:RE:CXB drilling update - includes 13.35 gpt AU over 3.2 metersedx, invest234
I wouldn't be surprised to see Calibre Mining beat the 170,000 - 180,000 gold ounce production guidance this year. ASIC should come down in H2 2021 from current levels reported for Q1, as production ramps up from new developments. Under promise, over deliver .
This management team is hitting on all cylinders at the moment.
Over 80,000 meters of drilling planned for 2021 .
7000 line km's of airborne geophyiscal work for 2021
The really good part about every ounce of new discovery, and the improvemed confidence moving from M&I resources to P&P reserves is the fact that Calibre has about 1 million tonnes per annum of excess capacity at the La Libertad mill.
Fill the mill !
Very little additional CAPEX costs, mostly just mining, milling and transportation expenses which will show immediiately on the bottom line in coming months and years. The more ounces the comany can move to Proven and Probable, the better the valuation the market should give the share price.
And one wild card ... the JV with Rio Tinto ..... drilling already underway .... hunting for an elephant ... or two ....
Fully agreee with you edx as far as potential 250,000 per annum production. On page 20 of the current presentation, the graph shows the potential for production increases at the La Libertad complex as the company discovers and develops new deposits and/or expands existing producing assets, as well as the impact an increasing head grade could have.
https://www.calibremining.com/investors/presentations/ .
CXB has posted the transcript of the Q1 conference call :
https://www.calibremining.com/site/assets/files/4512/2021-05-04-q1-transcript.pdf Below is an excerpt of the conference call covering exploration plans for the remainder of 2021 ..... I've bold lettered some of the main points ...
"Mark Petersen Calibre Mining Corp. - VP of Exploration
Thank you. John. Turning to Slide 7. During 2020, we made significant exploration progress and our drilling programs paid off with the additions of the Atravesada and Panteon mineral resources at Limon, identification of new gold vein systems at Libertad with Tranca and [Rosario] (corrected by company after the call) and materially increasing our mineral reserves twofold.
Given Nicaragua's strong mining history and its position with Central America's largest gold endowment, we see significant opportunities for continued resource growth and discovery, both at our operating mine sites and across our broader portfolio of mining and exploration concessions. In addition to Limon and Libertad, we've established a strong strategic position in the country, that includes the district scale Pavon and Eastern Borosi properties, as well as multiple less explored, yet highly prospective exploration concessions.
We've initiated a three-prong exploration strategy that encompasses a combination of brownfields resource expansion, new resource delineation and development and greenfields generative exploration. Our generative program is focused on identifying new discovery opportunities on our earlier stage concessions, as well as less explored areas around Limon and Libertad. It involves traditional boot leather prospecting and field mapping in combination with the latest methods in geo-chemistry, geo-physics and remote sensing to rapidly generate and systematically drill test targets as we advance toward our next discovery.
Since we launched our generative program last July, our team has identified highly prospective, yet underexplored vein systems at all of our 100% own properties. We recently commenced first pass drilling on the high-grade Cerro-Volcan target at Libertad and in June, we will begin drilling to test four newly recognized veins systems and our satellite Amalia-Nispero concessions located 35 kilometers away from Libertad.
During 2020, we also expanded our land position with applications for seven new exploration concessions in the region surrounding Libertad and Pavon which we expect to have approved within the coming months. Additionally, a key component to our '21 -- 2021 program is a 7,000 line kilometer airborne geophysical survey, which we are mobilizing right now. The survey will be especially useful identifying extensions to gold mineralization below cover as we finalize targeting decisions for this year's 10,000 meter reconnaissance drilling program.
Our emerging districts program is focused on adding ounces through step out drilling at Pavon Norte and Pavon Central, where we have 2 drills active. Also at Eastern Borosi, where we have six drills turning to upgrade resources for conversion to reserves as a high-grade Guapinol and Riscos de Oro gold vein systems. Over the past 10 years, approximately 32,000m of drilling at Eastern Borosi has successfully outlined our current 700,000 ounce inferred resource there." We believe significant discovery potential remains untapped in Eastern Borosi as Darren noted in his opening remarks. During the second half of 2021, our generative exploration team will add two drills to commence an initial 7500 meter reconnaissance drilling program at Eastern Borosi to test multiple earlier stage targets that have been recognized along before regional scale vein trends extending across the project claim block.
Finally, moving to our mining operations. At Limon, three rigs continue to delineate additional high grade, high margin ounces at the producing Santa Pancha and Veta Nueva deposits. As well as our newest ore bodies Atravesada and Panteon. At Libertad, 4 rigs are active in a combination of resource extension, new resource delineation and first pass drill testing of new targets.
In all, we have 15 rigs operating with two more on the way. In the coming weeks, we expect to announce initial results from our Q1 resource expansion programs at Limon and Libertad. Finally, as recently disclosed a first pass drilling campaign has begun on our Rio Tinto exploration early on JV which Calibre operates. This initial 5500 meter program is targetting five areas of prospective copper moly and copper-gold mineralization that all have little or no previous exploration drilling. We currently have one drill operating and expect to add a second drill in the coming weeks. Since Calibre delivered Nicaragua's first porphyry copper-gold discovery at Primavera, in 2012.
Our entire team is very excited to have the exploration drills turning again in the district. Because as we all know, discoveries happened at the same drill bit. With that, I'll hand it back to Darren to conclude the conclude the call." GLTA !