Ryan King, VP of Corporate Development and IR at Calibre Mining (TSX: CXB – OTCQX: CXBMF), joins us to overview the exploration strategy in both Nicaragua and Nevada. We focus initially in this discussion on the recently announced additional high-grade drill results from its Panteon North zone within the Limon Mine Complex, part of the Company’s 85,000 meter resource expansion and discovery drilling program in Nicaragua. Drill Hole LIM-22-4662 returned 52.59 g/t Au over 3.8 meters Estimated True Width (“ETW”), including 94.70 g/t Au over 1.1 meters; and 10.28 g/t Au over 2.1 meters ETW, and in Drill Hole LIM-22-4647 it returned 43.09 g/t Au over 3.3 meters ETW, including 155.10 g/t Au over 0.9 meters.
We then zoom back to the larger exploration strategy and drilling success the company is having in Nicaragua and also at the additional 50,000 meter drill program in Nevada around the operating Pan Mine. There is also confirmation drilling at the Gold Rock development project to gain more confidence in moving it forward as the next key development project in NV. We also discuss some of the drilling around the Libertad mill at Volcan, as well as at Pavon Central and Eastern Borosi, with many more drill results to be released over the balance of the year. Overall the company is well through the cumulative 170,000 meter drilling program at all properties and is expecting to an updated resource and reserves statement in Q1 of 2023
We discuss how the Company has continued to grow the resources with a 254% increase in Nicaragua Mineral Reserves to 1,013,000 ounces gold since Q4, 2019 and also grown the associated metals grades over the last few years. This ties into the hub and spoke model of bringing more satellite deposits into production utilizing their excess mill capacity, and also continuing to ramp up production from higher grade zones giving further production upside potential over the next 2 years.
If you have any follow up questions for Ryan on Calibre Mining, then please email us at Fleck@kereport.com or Shad@kereport.com.