Calibre Mining Shares Exciting Updates from Marathon Pit
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has announced some promising developments regarding the Marathon Pit at the Valentine Gold Mine. The company disclosed that the partial ore control reverse circulation (RC) drill results from this pit indicate a remarkable 44% increase in gold recovery and a 47% rise in grades compared to the models established in the 2022 Mineral Reserve.
Overview of RN Results and Development Progress
The current life of mine plan for the Valentine Gold Mine, which includes several pits such as Leprechaun, Berry, and Marathon, confirms a total of 51.6 million tonnes with a grade of 1.62 g/t gold, equating to 2.7 million ounces of gold. To date, Calibre Mining has drilled 196 RC holes, totaling 4,915 metres across three benches that are slated for mining in 2025. The results show a significant improvement in gold yield compared to the previous Mineral Reserve model.
Leadership Insights
Darren Hall, President and CEO of Calibre, expressed his excitement about the recent drilling results. Hall remarked, “The outcomes from this initial round of ore control drilling at the Marathon Pit are very encouraging, showing substantial increases in gold grades and additional ounces compared to the 2022 Mineral Reserve. With construction now at 77%, our confidence grows as we prepare for the first gold extraction at Valentine in the second quarter of 2025.”
Enhancing Exploration Initiatives
In addition to the results from the Marathon Pit, Calibre has launched a diamond drilling program as part of an expanded 100,000 metre exploration initiative. This project aims to uncover new gold deposits along the Valentine Lake Shear Zone, with the team expecting to receive favorable results in the coming weeks. They are optimistic about finding significant gold resources within the larger Valentine land package.
Ensuring Quality Control
To maintain the integrity of their findings, Calibre follows rigorous quality assurance and quality control (QA/QC) protocols. These protocols involve the regular inclusion of blanks and standards in each sample batch during the RC drilling process. Sample cuttings are carefully processed, split, and analyzed for gold content using the LeachWELL method at specialized facilities in Canada.
About Calibre Mining
Calibre Mining Corp. is a growing mid-tier gold producer based in Canada, with a focus on expanding its operations across North America and Central America. The company boasts a solid pipeline of development and exploration opportunities in regions like Newfoundland and Labrador, Nevada, and Nicaragua, and is committed to providing sustainable shareholder value through comprehensive operations and strategic growth initiatives.
For more information or inquiries, please reach out to:
Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
Calibre Mining's headquarters is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.
Frequently Asked Questions
What recent drilling results have been announced by Calibre Mining?
Calibre Mining has announced that the recent drilling at the Marathon Pit yielded 44% additional gold and 47% higher grades compared to the 2022 Mineral Reserve model.
What are the future plans for the Valentine Gold Mine?
The company plans to commence mining operations in 2025, while continuing extensive drilling to identify further gold deposits.
How is Calibre Mining ensuring the quality of its drilling results?
Calibre implements strict QA/QC protocols by including blanks and standards in each sample batch collected during the drilling process.
Where is Calibre Mining's headquarters located?
The corporate headquarters is situated at Suite 1560, 200 Burrard St., Vancouver, British Columbia.
What is Calibre Mining's focus in terms of growth and sustainability?
The company is committed to sustainable operations, delivering value to shareholders, and pursuing strategic growth opportunities across its various mining projects.
