Ryan King, Senior VP of Corporate Development and IR at Calibre Mining (TSX.V:CXB – OTCQX:CXBMF), joins us to provide a comprehensive exploration update from their ongoing aggressive drill program in Nicaragua.
We start off reviewing the recent news on continued exploration success at a number of drill targets and new areas of focus near their Libertad processing facility, especially at the Cerro Volcan Gold Deposit, which just had news out about its initial open pit Mineral Resource Estimate five kilometers from the mill. We then pivot over to more recently announced drill results from the expansion and infill drilling program at the high-grade Atravesada underground deposit located within the Limon Mine Complex; 2 kilometers west of the Limon processing plant. These high-grade intercepts continue to demonstrate the resource expansion potential at the Limon Mine complex. Many of the exploration targets and success with the drill bit the last 2 years has been guided by the VTEM data, and what they have dubbed the “VTEM Gold Corridor.”
Drill intercept highlights at Atravesada underground include:
- 9.67 g/t Au over 13.3 metres ETW including 15.77 g/t Au over 7.9 metres ETW in Hole LIM-22-4711
- 15.32 g/t Au over 4.3 metres ETW including 28.71 g/t Au over 2.3 metres ETW in Hole LIM-22-4715
- 8.94 g/t Au over 10.1 metres ETW including 22.43 g/t Au over 3.3 metres ETW in Hole LIM-22-4719
- 7.66 g/t Au over 7.1 metres ETW including 14.55 g/t Au over 3.4 metres ETW in Hole LIM-22-4725
- 16.30 g/t Au over 1.9 metres ETW including 30.50 g/t Au over 1.0 metres ETW in Hole LIM-22-4729
- 6.22 g/t Au over 8.9 metres ETW including 11.07 g/t Au over 4.3 metres ETW in Hole LIM-22-4734
We wrap up having Ryan outline the larger Company strategy of not just focusing on operational grade-driven growth, but also on acquiring new exploration concessions and really focusing on making new discoveries organically. Over the last few years they have successfully proven out that their hub and spoke mining methodology, of trucking ore from satellite deposits to their 2 producing mills, is quite economic and is working as planned.
If you have any questions for Ryan regarding Calibre Mining, then please email me at Shad@kereport.com.
- In full disclosure Shad is a shareholder of Calibre Mining at the time of this recording.
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