- Calibre Mining (CXB) has received an environmental permit for development and production work at its Pavon Norte gold project in Nicaragua
- The approval is expected to increase production and extend the life of the Libertad mill by processing ore from satellite deposits
- Calibre Mining has already advanced engineering studies, mine plans, road construction designs and several socio-environmental initiatives
- A permit has also been received allowing the company to begin drilling on the Natividad mineral concession
- Calibre Mining (CXB) is currently down 0.56 per cent and is trading at C$1.79 per share
Calibre Mining (CXB) has received an environmental permit for development and production work at its Pavon Norte gold project in Nicaragua.
The approval was issued by the country’s Ministry of the Environment and Natural Resources, and is expected to assist in increasing production and extending the life of the Libertad mill by allowing for the processing of ore from satellite deposits.
Calibre Mining began the process in the fourth quarter of 2019, when it undertook an Environmental Impact Assessment on the wider Pavon gold project.
At the same time, the company released an update resource estimate, which outlined an indicated resource of 1.39 million tonnes at 5.16 grams per tonne of gold for a total of 230,000 ounces of gold.
Since the start of 2020, Calibre Mining has been working closely with SLR Consulting, WSP Canada and the Centre for an Understanding with Nature in Nicaragua to advance development work at Pavon Norte and ensure quality engineering designs with minimal impacts to the environment.
Further to this, the company has progressed engineering studies, mine plans, road construction designs, and socio-environmental policies focusing on water conservation as well as sustainable forestry and ranching.
Road construction is currently under way, and Calibre Mining says it is well-positioned to begin open-pit ore production from Pavon Norte in the first quarter of 2021.
Russell Ball, CEO of Calibre Mining, commented on the receiving the permit.
“The approval of Pavon Norte marks a significant milestone in the company’s efforts to increase production and extend the life of the Libertad mill by processing ores mined from satellite deposits, in line with the company’s ‘Hub-and-Spoke’ operating philosophy.
“We will continue to work closely with the government, local communities and other stakeholders to ensure safe and responsible development and mining at Pavon Norte,” he added.
Calibre Mining (CXB) is currently down 56 per cent and is trading at C$1.79 per share.
