Exciting Developments in Gold Exploration
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) is thrilled to announce significant findings from its 2024 exploration efforts at the Limon Mine Complex in Nicaragua. The latest discovery, known as San Jose, is located about 2.5 km north of the prominent Panteon Norte deposit, situated along the extensive VTEM Gold Corridor. With four diamond drills actively working in the area, the team is diligently following the mineralization both in depth and along the strike.
New San Jose Discovery
The newly identified San Jose site is sparking excitement among mining engineers and geologists. Some of the standout gold results from this area include:
- 13.26 g/t Au over 4.9 metres, with a remarkable peak of 33.50 g/t Au over 1.2 metres observed in Hole LM-24-4966;
- 4.92 g/t Au over 10.3 metres, including 9.79 g/t Au over 4.9 metres in Hole LM-24-4938;
- 5.86 g/t Au over 4.7 metres and 4.50 g/t Au over 5.3 metres documented in Hole LM-24-4946.
Talavera Mine Drilling Insights
Alongside new discoveries, the historic Talavera mine is also producing encouraging results. Here are the latest findings:
- 6.38 g/t Au over 10.5 metres in Hole LIM-24-4943;
- Notable grades of 14.55 g/t Au over 1.0 metres and 23.60 g/t Au over 1.2 metres in Hole LIM-24-4962;
- Impressive results of 19.95 g/t Au over 0.4 metres and 38.87 g/t Au over 1.2 metres in Hole LIM-24-4953.
Year-On-Year Comparisons
Looking back at the drilling results from 2023, we observe a consistent trend of high-grade intercepts at Talavera. Some key highlights from the past include:
- 10.22 g/t Au over 4.2 metres, with exceptional peaks such as 15.25 g/t Au over 2.0 metres found in Hole LIM-22-4688;
- 4.10 g/t Au over 4.2 metres recorded in Hole LIM-22-4721.
Ongoing Success at Limon
The current exploration program at Limon is delivering outstanding results:
- 8.98 g/t Au over 3.3 metres estimated true width (ETW) in Hole LIM-24-4890;
- 19.81 g/t Au over 3.8 metres ETW in Hole LIM-24-4945;
- 29.90 g/t Au over 0.3 metres ETW in Hole LIM-24-4917.
These impressive figures highlight Limon's status as a world-class epithermal gold district, known for its significant output, long-term operations, and the continuous discovery of high-grade resources since Calibre took ownership of the property in 2019.
CEO Insights on the Exploration Program
Darren Hall, the President and CEO of Calibre Mining Corp., shared his thoughts on the ongoing exploration efforts: “We are continually impressed by our findings, and we remain optimistic about Limon's potential to expand its reserves and resources with continued investment in exploration.” He emphasized the importance of both established deposits and new discoveries like San Jose in driving this growth.
Hall also highlighted the effectiveness of the VTEM geophysical survey conducted in 2022, which has proven to be a vital tool in identifying high-grade deposits, significantly enhancing mineral reserves across the board.
Path Forward for Talavera
As we look ahead, Talavera, although currently lacking defined resources, presents tremendous discovery potential thanks to its historical underground infrastructure. Calibre's strategic exploration initiatives may soon transform Talavera into a valuable contributor to the company's gold assets.
Quality Control and Assurance Practices
Calibre follows a rigorous Quality Assurance/Quality Control (QA/QC) program, implementing industry best practices to ensure that every drilling project meets high standards. This includes maintaining a verifiable chain of custody, regularly using certified reference standards, and conducting duplicate assays.
About Calibre Mining Corp.
Calibre Mining Corp. is an emerging mid-tier gold producer focused on creating sustainable value in local communities across various regions, including Newfoundland and Labrador, Nevada, Washington, and Nicaragua. With a solid balance sheet and a skilled management team, Calibre is well-positioned to unlock substantial value for its shareholders.
Frequently Asked Questions
What are the highlights of the new San Jose discovery?
The San Jose discovery showcases impressive grades, including 13.26 g/t Au over 4.9 metres, indicating strong potential for future exploration.
How does Talavera contribute to the company?
While Talavera currently lacks defined resources, it is viewed as a significant asset due to its considerable discovery potential.
What does Calibre Mining focus on?
Calibre is committed to sustainable practices while expanding its operations and development projects throughout North America.
What methods are utilized in the QA/QC program?
The QA/QC program incorporates procedures such as certified reference standards, duplicate assays, and strict sample handling practices.
Who is the CEO of Calibre Mining?
Darren Hall serves as the President and Chief Executive Officer, providing leadership and strategic direction for the company.
