- Calibre Mining (TSX:CXB) has announced its 100 per cent owned Eastern Borosi project has advanced ahead of schedule
- The company is advancing the high-grade open pit and underground resources at the project in order to provide mill feed to the Libertad mill that currently has 50 per cent surplus capacity
- Calibre Mining has also completed 75 per cent of the infill, metallurgical, geotechnical and hydrological drilling
- More Guapinol drill results are also pending from infill holes that were done in regions of previously drilled holes in the core of the high-grade shoot
- Shares of Calibre Mining are up 1.84 per cent to C$1.66 as of 2:16 p.m. EDT
Calibre Mining (CXB) has announced its 100 per cent owned Eastern Borosi project (EBP) has advanced ahead of schedule.
As per the company’s announcement, Calibre Mining is advancing the high-grade open pit and underground resources at the project so that it can provide mill feed to the Libertad mill, which currently has 50 per cent surplus capacity.
Infill drill results include:
- Guapinol open pit: 9.07 grams per ton (g/t) gold and 19.9 g/t silver over 6.5 metres from 216 metres; 25.90 g/t gold and 15.3 g/t silver over 1.9 metres from 163 metres; and 22.70 g/t gold and 25.5 g/t silver over 1.8 metres from 160.7 metres.
- Vancouver open pit: 6.42 g/t gold and 14.1 g/t silver over 7.1 metres from 32.4 metres; and 4.46 g/t gold and 39.7 g/t silver over 4.8 metres
- Riscos De Oro underground: 26.49 g/t gold and 99.4 g/t silver over 2.2 metres from 313.3 metres; 7.76 g/t gold and 186 g/t silver over 2.9 metres from 284 metres; and 3.18 g/t gold and 262.2 g/t silver over 8.2 metres from 204 metres
“EBP represents an exciting opportunity to provide additional high-grade mill feed to our Libertad mill as part of our Hub and Spoke operating strategy,” Darren Hall, president and CEO of Calibre, said in a press release.
” Our initial focus has been on progressing the Guapinol, Vancouver and Riscos De Oro deposits, which contain inferred resources of 515,000 ounces of gold and 4.37 million ounces of silver, averaging 8.15 g/t Au and 69 g/t Ag.”
Hall explained the company only began work in February of this year and, given the progress since then, anticipates that the permit applications will begin soon in addition to updated mineral resource estimates for Guapinol/Vancouver and Riscos De Oro in Q1 of next year.
Now that infill drilling at Guapinol and Vancouver targets have been done and assays are pending for 10 holes, the company’s focus will shift to completing metallurgical and geotechnical drilling for input into technical studies.
Once that’s done, Calibre will then shift to step-out drilling that will target resource extensions and test the potential to discover more high-grade shoots along strike of known deposits.
Meanwhile, geotechnical drilling is completed at the Riscos de Oro underground target and a further 5,000 metres of infill drilling is anticipated to begin this month before moving to metallurgical drilling.
Shares of Calibre Mining are up 1.84 per cent to C$1.66 as of 2:16 p.m. EDT.