Calibre (CXB) has announced high-grade drill results at its Eastern Borosi Project in northeastern Nicaragua.
Highlight infill drill results
- Guapinol Open Pit: 25.07 g/t Au over 9.7 m, 39.21 g/t Au over 3.1 m, and 24.85 g/t Au over 3.9 m
- Vancouver Open Pit: 9.38 g/t Au over 2.2 m and 8.90 g/t Au over 2.3 m
- Riscos de Oro: 33.64 g/t Au over 3.2 m and 11.26 g/t Au over 2.8 m
Drilling and project overview
Drilling on the Guapinol vein confirms continuity of high-grade gold mineralization within a steeply dipping ore shoot that extends nearly 250 m from surface and remains open at depth.
Results from the Vancouver vein likewise improve confidence in the continuity of gold mineralization within a high-grade near-surface ore shoot that remains open at depth.
Drilling at Riscos de Oro returned high-grade gold and silver intercepts within two parallel veins in line with expectations.
During the second half of the year, drilling will test the potential to delineate additional gold resources along strike of the known vein systems.
During the coming months, Calibre will deploy additional drills to several earlier-stage prospects with high-grade gold and silver intercepts along less explored vein trends.
Darren Hall, Calibre's President and CEO, commented,
"Today’s infill drill results continue to demonstrate the high-grade nature of these deposits with Guapinol and Riscos de Oro delivering the best results to date. With EBP located within trucking distance of our Libertad mill, along established infrastructure, the project is poised to deliver our lowest-cost ounces, again demonstrating the ability to efficiently translate satellite deposits into near-term, high-margin mill feed. The project is advancing ahead of our initial expectations with updated mineral resource estimates expected in Q1 2022 and operating permit submissions within the next six months.
Furthermore, we see excellent exploration potential for discovering additional high-grade vein systems across the 176 km2 EBP land package. The exploration team has begun drilling high-priority targets for further resource expansion along the Guapinol and Riscos de Oro vein trends and for the discovery of new bonanza-style gold-silver vein systems along underexplored gold trends in the district."
Calibre is a gold mining and exploration company with two 100-per-cent owned operating gold mines in Nicaragua.
Calibre (CXB) is down by 1.33 per cent and is currently trading at $1.48 per share as of 1:11 pm ET.