#Gold #Stock to
Watch - Calibre (TSX: $CXB.TO) (OTCQX: $CXBMF) High-grade Gold Discovery -
Drilling Intersects 52.59 G/t Gold Over 3.8 Metres And 26.02 G/t Gold Over 8.1
Metres; @CalibreMiningCo
Vancouver,
B.C. – September 8, 2022:
(Investorideas.com Newswire) Calibre Mining Corp. (TSX:
CXB)
(OTCQX:
CXBMF)
(the "Company" or "Calibre") is pleased to report
additional high-grade drill results from its Panteon North zone within the
Limon Mine Complex, part of the Company’s 85,000 metre resource expansion and
discovery drilling program. High-grade mineralization now extends across a strike length of nearly
400 metres with consistent, plus 15 gram per tonne drill intercepts over broad,
minable widths. Given a recent VTEM survey click here for details, which has identified two, parallel five km potential mineralized
corridors, the strong correlation to the high/low resistivity contact
demonstrated in the recent drilling and historical mining zones Calibre has
four rigs testing along strike and down plunge expansion potential.
Read this news,
featuring CXB in full at https://www.investorideas.com/news/2022/mining/09082Calibre-Gold-Discovery.asp
Additional
High Grade Drill Result Highlights from Panteon North
·
52.59
g/t Au over 3.8 metres Estimated True Width (“ETW”), including 94.70 g/t Au
over 1.1 metres; and 10.28 g/t Au over 2.1 metres ETW, including 16.50 g/t Au
over 1.7 metres in Hole LIM-22-4662;
·
43.09
g/t Au over 3.3 metres ETW, including 155.10 g/t Au over 0.9 metres in Hole
LIM-22-4647;
·
35.18
g/t Au over 2.8 metres ETW, including 58.00 g/t Au over 1.5 metres in Hole LIM-22-4653;
·
26.02
g/t Au over 8.1 metres ETW, including 41.30 g/t Au over 4.6 metres in Hole
LIM-22-4665;
·
18.49
g/t Au over 1.1 metres ETW, including 49.30 g/t Au over 0.4 metres in Hole
LIM-22-4654;
·
13.14
g/t Au over 3.1 metres ETW, including 49.10 g/t Au over 0.4 metres in Hole
LIM-22-4651.
Tom
Gallo, Senior Vice President, Growth at Calibre, stated: “This
is a paradigm shifting discovery for us with consistent high-grade
mineralization demonstrated over considerable strike length coupled with VTEM
giving strong indications there is potential to expand and discover additional
zones. Drilling is underway to extend this mineralized zone to depth with
visual indicators having shown positive signs. Given the grade, we expect a
substantial, positive impact made to our mineral resource statement.”
Darren
Hall, President and Chief Executive Officer of Calibre, stated: “The discovery of
bonanza grade at Panteon North was first announced (May
16, 2022 see news release here)(then June 27, 2022 see news) and we have subsequently expanded the zone.
Drilling continues to intercept consistent, extremely high-grade gold
mineralization across approximately 400
metres of strike. The deepest
results to date are situated only 250 metres from surface with new drill
intercepts pending assays as deep as 450 metres from surface. These drill
results, in combination with the successful VTEM campaign, reinforce our grade
driven production growth as the high-grade Panteon North discovery is not
included in our recent multi-year production outlook (see news
release dated June 22, 2022).”
Additional
high-grade results announced since discovery in May of this year include;
·
66.03
g/t Au over 5.6 metres Estimated True Width (“ETW”), including 167.27 g/t Au
over 2.3 metres and 14.95 g/t Au over 1.9 metres ETW in Hole LIM-22-4630;
·
30.33
g/t Au over 5.0 metres ETW, including 40.62 g/t Au over 3.8 metres in Hole
LIM-22-4628;
·
22.55
g/t Au over 4.9 metres ETW, including 68.51 g/t Au over 1.7 metres in Hole
LIM-22-4632;
·
17.58
g/t Au over 2.4 metres ETW, including 28.67 g/t Au over 1.9 metres in Hole
LIM-22-4627;
·
17.80
g/t Au over 7.3 metres ("ETW"), including 6.69 g/t Au over 1.9 metres,
26.37 g/t Au over 2.8 metres and 16.84 g/t over 3.2 metres in Hole LIM-22-4619;
·
4.66
g/t Au over 1.7 metres ETW, including 8.20 g/t Au over 0.8 metres in Hole
LIM-22-4637
·
9.72
g/t Au over 3.9 metres ETW, including 27.80 g/t Au over 1.4 metres in Hole
LIM-22-4616;
·
8.84
g/t Au over 1.1 metres ETW, including 20.30 g/t over 0.6 metres in Hole
LIM-22-4620;
·
12.75
g/t Au over 2.4 metres ETW, including 33.70 g/t Au over 1.0 metres in Hole
LIM-22-4622; and
·
9.38
g/t Au over 2.7 metres, including 34.50 g/t Au over 0.6 metres in Hole
LIM-22-4625.
For full drill results see
details in the June 27, 2022 news release here and May
16, 2022 news release here.
The Panton North discovery is located
approximately one kilometre northwest of the high-grade producing Panteon
underground mine and approximately three kilometres from the Limon mill site.
Panteon North is a new discovery with no resource and reserve classified, the
zone remains open down plunge and open to the northwest and potentially beyond
to the northeast as outlined along the VTEM resistivity contact which extends
for another three kilometres.
Link 1 – Figures
Link 2 – Drilling
Tables
Quality
Assurance/Quality Control
Calibre maintains a Quality
Assurance/Quality Control ("QA/QC") program for all its exploration
projects using industry best practices. Key elements of the QA/QC program
include verifiable chain of custody for samples, regular insertion of certified
reference standards and blanks, and duplicate check assays. Drill core is
halved and shipped in sealed bags to Bureau Veritas in Managua, Nicaragua, an
independent analytical services provider with global certifications for Quality
Management Systems ISO 9001:2008, Environmental Management: ISO14001 and Safety
Management OH SAS 18001 and AS4801. Prior to analysis, samples are prepared at
Veritas' Managua facility and then shipped to its analytical facility in
Vancouver, Canada. Gold analyses are routinely performed via fire assay/AA
finish methods. For greater precision of high-grade material, samples assaying
10 g/t Au or higher are re-assayed by fire assay with gravimetric finish.
Analyses for silver and other elements of interest are performed via Induction
Coupled Plasma (ICP)
Estimated True Widths for
reported vein intercepts are based on 3D models of the individual veins.
Estimates are determined in cross-section by measuring the modelled vein
thickness perpendicular to the vein margins and through the midpoint of the
drill hole intercept. Percentage based differences between individual ETW’s and
down-hole interval lengths will vary between drill holes depending on drill
hole inclination, variations in vein strike and dip, and overall geometries of
the different vein systems.
Qualified Person
The
scientific and technical information contained in this news release was
approved by David Schonfeldt P.GEO, Calibre Mining’s Corporate Chief Geologist
and a "Qualified Person" under National Instrument 43-101.
ON BEHALF OF THE BOARD
"Darren Hall"
Darren Hall, President and Chief Executive Officer
For further
information, please contact:
Ryan King
Senior Vice President, Corporate Development & IR
T: (604) 628-1012
E: calibre@calibremining.com
About
Calibre Mining Corp.
Calibre
Mining is a Canadian-listed, Americas focused, growing mid-tier gold producer
with a strong pipeline of development and exploration opportunities across
Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering
sustainable value for shareholders, local communities and all stakeholders
through responsible operations and a disciplined approach to growth. With a
strong balance sheet, no debt, a proven management team, strong operating cash
flow, accretive development projects and district-scale exploration
opportunities Calibre will unlock significant value.
Cautionary Note
Regarding Forward Looking Information
This news release includes certain
"forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of
applicable Canadian securities legislation. All statements in this news release
that address events or developments that we expect to occur in the future are
forward-looking statements. Forward-looking statements are statements that are
not historical facts and are identified by words such as "expect",
"plan", "anticipate", "project",
"target", "potential", "schedule",
"forecast", "budget", "estimate",
"intend" or "believe" and similar expressions or their
negative connotations, or that events or conditions "will",
"would", "may", "could", "should" or
"might" occur. Forward-looking statements in this news release
include, but are not limited to: the 'Company's expectations toward higher
grades mined and processed going forward; statements relating to the 'Company's
2022 priority resource expansion opportunities; the 'Company's metal price and
cut-off grade assumptions; the 'Company's plans for the Pan Mine for 2022,
including production and exploration and its contribution to production growth.
Forward-looking statements necessarily involve assumptions, risks and
uncertainties, certain of which are beyond Calibre's control. For a listing of
risk factors applicable to the Company, please refer to Calibre's annual
information form ("AIF") for the year ended December 31, 2021, and
its management discussion and analysis ("MD&A") for the year
ended December 31, 2021, all available on the 'Company's SEDAR profile at
www.sedar.com. This list is not exhaustive of the factors that may affect
Calibre's forward-looking statements.
Calibre's
forward-looking statements are based on the applicable assumptions and factors
management considers reasonable as of the date hereof, based on the information
available to management at such time. Such assumptions include but are not
limited to: the Company being able to mine and process higher grades and keep
production costs relatively flat going forward; there not being an increase in
production costs as a result of any supply chain issues or ongoing COVID-19
restrictions; there being no adverse drop in metal price or cut-off grade at
the 'Company's Nevada properties. Calibre does not assume any obligation to
update forward-looking statements if circumstances or management's beliefs,
expectations or opinions should change other than as required by applicable
securities laws. There can be no assurance that forward-looking statements will
prove to be accurate, and actual results, performance or achievements could
differ materially from those expressed in, or implied by, these forward-looking
statements. Accordingly, undue reliance should not be placed on forward-looking
statements.
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