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Calibre Mining Reports Third Quarter Gold Production; Remains On Track to Deliver 2022 Production Guidance; Continues to Intercept High-Grade Drill Results

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Calibre Mining Reports Third Quarter Gold Production; Remains On Track to Deliver 2022 Production Guidance; Continues to Intercept High-Grade Drill Results






Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) is pleased to announce operating results for the three and nine months ended September 30, 2022.

Q3 and Year to Date 2022 Production Overview

  • Consolidated quarterly gold production of 49,081 ounces, and gold sales of 49,260 ounces;
    • 10% increase in gold production compared to Q3 2021 (44,579 ounces);
    • Nicaragua gold production of 38,928 ounces and Nevada gold production of 10,153 ounces;
    • Nicaraguan Q3 gold pours were negatively impacted due to an unplanned outage at the carbon plant, which is now back up and running;
  • Consolidated YTD gold production of 160,704 ounces, gold sales of 161,530 ounces, on track to deliver full year guidance of 220,000 – 235,000 ounces;
  • Pavon Central Open pit mining permit approved Q2, 2022, on track for production Q1, 2023;
  • Considerable progress made at Eastern Borosi Project (“EBP”) including:
    • Recently completed the public consultation process with mining permits expected during Q4, 2022;
    • Advanced early road works and site preparations underway


Q3 2022 Highlights

  • Continuous expansion of the high-grade gold discovery along strike at Panteon North within the Limon Complex (see news release dated September 7, 2022)
    • 52.59 g/t Au over 3.8 m Estimated True Width (“ETW”); 43.09 g/t Au over 3.3 m ETW;
    • 35.18 g/t Au over 2.8 m ETW; 26.02 g/t Au over 8.1 m ETW;
    • Consistent high-grade mineralization demonstrated over a strike length of 400 m coupled with VTEM indicates a positive impact to year-end mineral resource statement.
  • Pan Mine drill results demonstrate strong expansion potential (see news release dated August 17, 2022)
    • 3.35 g/t Au over 18.3 m; 0.82 g/t Au over 10.7 m; 0.80 g/t Au over 47.2 m;
    • 1.96 g/t Au over 10.7 m; 0.96 g/t Au over 10.7 m, and
    • Excellent opportunities for growth and, in some cases shallow, higher-grade zones are open for expansion.


Darren Hall, President & Chief Executive Officer of Calibre, stated: “Gold poured during the quarter was negatively impacted by the carbon plant outage at Libertad however with increased in progress inventory and higher grades we anticipate a strong Q4 and remain on track to meet our 2022 production guidance of 220,000 – 235,000 ounces.


During the quarter we continued to progress development at Pavon Central and Eastern Borosi, preparing to start both satellite sites for production during 2023, setting ourselves up for a grade-driven production increase.


We continue to see exciting results from our exploration program across all assets and in particular at Panteon North at the Limon complex with continued high-grade intercepts outside of our 2021 resource estimates.


During the quarter we published our 2021 ESG Sustainability Report demonstrating continued progress withing all aspects. Calibre remains committed to delivering positive and sustainable benefits to all stakeholders.”


Qualified Person


Darren Hall, MAusIMM, President and Chief Executive Officer, of Calibre Mining Corp. is a “qualified person” as set out under NI 43-101 and has reviewed and approved the scientific and technical information in this press release.


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.


Posted October 14, 2022

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