Calibre Continues to intersect High-grade Gold at Panteon North; High-Grade Drilling Intersects 22.47 g/t Gold over 4.9 metres and 17.80 g/t Gold over 7.9 metres
December 06 2022 - 5:30AM
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 in the main
gold-shoot will lead to a maiden resource in Q1, 2023.
New High Grade Drill Result Highlights from Panteon
North
- 17.80 g/t Au over 7.9 metres
Estimated True Width (“ETW”) in Hole LIM-22-4694;
- 13.14 g/t Au over 8.4 metres ETW in
Hole LIM-22-4659;
- 12.30 g/t Au over 4.4 metres ETW in
Hole LIM-22-4672;
- 15.18 g/t Au over 2.9 metres ETW in
Hole LIM-22-4671;
- 14.57 g/t Au over 1.9 metres ETW
and 16.02 g/t Au over 2.7 metres ETW in Hole LIM-22-4675;
- 16.68 g/t Au over 1.8 metres ETW in
Hole LIM-22-4683;
- 10.48 g/t Au over 2.1 metres ETW in
Hole LIM-22-4686;
- 12.85 g/t Au over 10.6 metres ETW
including 22.47 g/t Au over 4.9 metres ETW in Hole
LIM-22-4691;
- 13.87 g/t Au over 2.2 metres ETW
including 26.33 g/t Au over 1.1 metres ETW in Hole
LIM-22-4697;
- 11.13 g/t Au over 1.1 metres ETW in
Hole LIM-22-4699; and
- 5.60 g/t Au over 1.6 metres ETW and
13.18 g/t Au over 5.1 metres ETW including 27.57 g/t Au over 2.3
metres in Hole LIM-22-4703.
Darren Hall, President and Chief
Executive Officer of Calibre, stated: “I continue to be
very encouraged by the drill program at Panteon North. Since the
discovery was announced on May 16, 2022 (see news release here) we
have been able to continue to identify bonanza grade mineralization
along what is now a well-defined gold-shoot spanning 400 metres
along strike and over 200 metres down-dip.
Furthermore, several holes in the Panteon/VTEM
geophysical corridor step out drilling, designed to test the
structure identified on June 27, 2022 (see news release here) have
been completed. With assays pending the multi-kilometre VTEM
corridor has excellent potential for additional high-grade
discoveries.”
Previously announced high-grade results since discovery
in May of this year include:
- 52.09 g/t Au over 3.8 metres ETW,
including 95.70 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.
For a complete look at the year-to-date 2022
drill results see details in the news releases dated September 7,
2022, June 27, 2022 and May 16, 2022.
Link 1 – FigureLink
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)
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 KingSenior Vice President, Corporate
Development & IRT: (604) 628-1012E: calibre@calibremining.comW:
www.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, a
proven management team, strong operating cash flow, accretive
development projects and district-scale exploration opportunities
Calibre will unlock significant value.
Note: 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.
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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