Stockwatch Canada Comment and Recap Darren Hall's Calibre Mining Corp. (CXB) added two cents to $2.22 on 5.69 million shares on word it has drilled a 5.8-metre true-width interval grading 13.24 grams of gold per tonne in the Guapinol area of its Eastern Borosi project in northeastern Nicaragua. Several other encouraging hits accompanied the headliner, including 9.24 grams per tonne across 6.2 metres and 11.62 grams per tonne over a 3.8-metre true width.
Mr. Hall, president and CEO, applauded the new assays as confirming that significant high-grade gold mineralization exists outside of the deposit area surrounding the Guapinol area. This, he glows, reinforces the potential for mine life extension. The new assays, Mr. Hall cheers, "build upon the high-grade gold mineralization results reported earlier this year." He is referring to a batch of assays received in April, which ranged as high as 7.06 grams per tonne across a true width of 17.7 metres.
Eastern Borosi, also called Cerro Aeropuerto, received a resource estimate 13 years ago. That estimate listed 6.05 million tonnes inferred at 3.64 grams of gold and 16.2 grams of silver per tonne, about 708,000 ounces of gold and 3.1 million ounces of silver. The deposit, whatever its name, appears destined to be a spoke on the company's "hub and spoke" strategy, which has several satellite deposits feeding the company's hub facility at La Libertad. (Haulage rates from the Limon and Pavon spokes are estimated at about $30 (U.S.) per tonne, but Eastern Borosi is nearly double the hauling distance.)