Calibre Mining – High Grade Drill Intercepts At Panteon North Return 52.59 g/t Gold Over 3.8 Meters And 43.09 g/t Gold Over 3.3 meters
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.
I’m heavy into UVXY. Smart money buttering up the millennial suckers?
Larry – good observation on traders hedging their S&P 500 bets with options defense today, which nudged the VIX higher. It will be interesting to see what number gets reported for CPI this week, and then how the market extrapolates that out to Fed policy.
A weaker number will likely be good, as people will assume it means the Fed starts reducing down hikes for Nov/Dec, and a higher CPI would be negative for markets, as people will then assume that the central bank will have to hike rates even higher and even longer.
Calibre: I am going out on a limb here and say these recent drill results are pretty darn good.
Nice one Lakedweller2. Yeah, I don’t think it’s going out on much a limb to suggest that 52.59 g/t Gold Over 3.8 Meters And 43.09 g/t Gold Over 3.3 meters are pretty darn good indeed. 🙂
If a little Canadian drill play had put out results like that then the penny dreadful drill junkies would have been doing cartwheels and back flips over it. Sometimes those investors are not tuned in to what the producers are doing, but it is the producers that can more quickly monetize the great results anyway.
I maintain that some of the best exploration going on right now is with the growth-oriented producers like Calibre, or I-80 Gold, or Karora, more so than most of the grassroot explorers.
😎
take the shades off lake…………. or they may mistake you for CIA…….. lol 🙂
I was trying to keep Ex from seeing my eyes were smiling…
Fat finger hit on gold at around 8:30 EST. Big gap. Evidence for the next Court Case against the JPM Mailroom.
I think someone told them that high inflation is bad for gold. Similar to chocolate cause pimples and cracks in sidewalks.
Jim Cramer: “We are trying to predict markets We can’t predict”
“I didn’t go to college to get stupid”
This morning ….in response to the markets reaction to higher inflation.
Dollar made big green candle (several) jumps up as inflation makes it more valuable kind of like blowing up apartment buildings in the Ukraine is good for the future housing market.
CNBS Stat:
A few minutes ago :
Gold -1.68%
Silver -1.68%
Copper -1.68%
What wisdom the “markets” show in pricing. The computers can’t even appear random.
My account reverse of yesterday … the best ones yesterday are the bad ones today. Clever how they do that ….
I love the execution of this company and own some. I am thinking of buying more but I am unsure of the political environment.
Does anyone have any thoughts?
Nicaragua is not without risk, but then again, where is? Even the US and Canada and Mexico have problems in North America. They have also diversified into Nevada, the #1 gold mining jurisdiction on the planet, so that helps balance out the jurisdiction risk.
Central America is a bit shadier place overall, and I won’t touch areas like Belize, Panama, El Salvador, and have been dismayed by the action in Guatemala lately. Having said that, I’ve invested in 2 companies in Nicaragua – Mako Mining and Calibre Mining. Both companies are in production, and have big exploration upside, and I’ve not seen either have much difficulty permitting for exploration, development, or production and there hasn’t been a lot of anti-mining pushback like in many Latin American countries.
The complaint against Nicaragua is the the money going to the government funds a strongman, but I’d submit Mako and Calibre are doing far more to help their local communities & stakeholders by providing roads, jobs, education, and training in a real field; not to mention paying a competitive wage compared to other businesses in the area.
Vix up 5% today with a spy up 1%…someone is buying insurance before CPI tomorrow AM pre-market….Buy signal for vix exist on 10 minute thru 4 hour time frames…very interesting…Rare for such a clear message…..