- Calibre Mining (CXB) is returning the latest exploration results from its Golden Eagle Project in Washington state
- Initial results include one intercept of 4.3 grams of gold per tonne over 92.4 metres and 2.9 grams over 195.1 metres
- The Vancouver-based company owns a 100-percent interest in the project in Washington’s Republic/Eureka Mining District
- Calibre Mining is up 4.55 percent, trading at $1.15 at 11:02 a.m. EST
Calibre Mining (CXB) has reported the latest exploration results from its Golden Eagle Project in Washington state.
Initial results include one intercept of 4.3 grams of gold per tonne over 92.4 metres and 2.9 grams over 195.1 metres.
The Vancouver-based company owns a 100-percent interest in the project in Washington’s Republic/Eureka Mining District. The property is located 16 kilometres west of Kinross Gold’s Kettle River Mill.
Golden Eagle hosts a pit-constrained, Measured and Indicated resource of 2.02 million ounces at 1.4 grams per tonne of gold with an Inferred resource of 155,000 ounces at 0.9 grams per tonne.
“Today’s results from Golden Eagle reinforce the potential for this project to provide significant value to Calibre shareholders. The first phase of this drill program confirms a robust mineral system with consistent gold grades over broad widths. The Golden Eagle Project is a key asset within our United States operating platform, which includes the Pan mine and the Gold Rock and Illipah projects in Nevada. I look forward to results from the second phase of drilling as well as the commencement of a comprehensive metallurgical program to fully assess this strategic assets’ potential. Golden Eagle is a meaningful contributor to the Company’s overall mineral resource estimate with 2.0 million ounces in Measured and Indicated Mineral Resource, adding positively to our organic growth strategy,” said President and CEO Darren Hall.
The Golden Eagle Mineral Resource estimate is based on a drill hole dataset of 202 holes totalling 38,208 metres at a base cut-off grade of 0.48 grams per tonne.
Calibre Mining is up 4.55 percent, trading at $1.15 at 11:02 a.m. EST.
