- Calibre (CXB) increases mineral reserves by over 200 per cent to 864,000 ounces of gold
- Limon’s total Mineral Reserves increased 98 per cent since December 31, 2019
- Mineral Reserves at Libertad and Pavon increased from zero on December 31, 2019, to 296,000 ounces of gold
- Calibre controls a 100 per cent interest in the Eastern Borosi Gold-Silver Property, located in northeastern Nicaragua
- It has two 100 percent-owned operating gold mines in Nicaragua
- Calibre Mining Corp. (CXB) is up 1.31 per cent and is trading at C$1.55 at 2:07 pm ET
Calibre Mining Corp (CXB) announces results and mineral resources at its El Limon and La Libertad mining complexes in Nicaragua.
Calibre’s 202 per cent increase in mineral reserves supports a strong foundation for a multi-year “Hub-and-Spoke” production and growth strategy.
With the largest mineral reserve base in the last 10 years and the highest reserve grade on record, it has increased confidence in its ability to generate strong cash flow providing a platform to fund organic growth.
Darren Hall, President and CEO, stated,
“Our investment in exploration in 2020 has resulted in the largest Mineral Reserve since 2010 and the highest reserve grade of 4.49 g/t Au on record, which provides an excellent foundation for future growth.”
“I am very pleased with how the team has integrated our assets utilizing our ‘Hub and Spoke’ operating model and positively exceeded production and cost guidance in our first full year of operation,” added Hall.
Limon’s total Mineral Reserves increased 98 per cent since December 31, 2019, to 568,000 ounces of gold, net of 2020 production.
This was driven by Mineral Reserves at the Limon open pits, increasing by 137 per cent to 462,000 ounces of gold and Mineral Reserves at Limon underground deposits increasing from 91,000 to 102,000 ounces of gold, both net of depletion.
Mineral Reserves at Libertad and Pavon increased from zero on December 31, 2019, to 296,000 ounces of gold at a grade of 4.71 g/t Au, net of 2020 production.
Jabali underground added 477,000 tonnes grading 3.92 g/t Au containing 60,000 ounces of mineral reserves while Jabali open pits contributed 139,000 tonnes, grading 4.25 g/t Au 19,000 ounces.
Calibre controls a 100 per cent interest in the Eastern Borosi Gold-Silver Property, located in northeastern Nicaragua.
Calibre Mining is a Canadian-listed gold mining and exploration company with two 100 percent-owned operating gold mines in Nicaragua.
Calibre Mining Corp. (CXB) is up 1.31 per cent and is trading at C$1.55 at 2:07 pm ET.
