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Calibre Reports Positive Higher-Grade Near Surface Drilling at Its Pan Gold Mine, Nevada; Initial Results Include 3.84 g/t Gold over 15.2 metres and 2.08 g/t Gold Over 27.4 Metres

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Calibre Reports Positive Higher-Grade Near Surface Drilling at Its Pan Gold Mine, Nevada; Initial Results Include 3.84 g/t Gold over 15.2 metres and 2.08 g/t Gold Over 27.4 Metres

 

 

 

 

 

Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) is pleased to announce assay results from the 2023, near-mine discovery, delineation, and resource expansion drill program at its 100% owned Pan Mine located on the prolific Battle Mountain – Eureka gold trend, Nevada. Results at the Palomino target located immediately south of the open pit operation indicate higher grades than demonstrated at the Pan mine in the current Mineral Resource. The potential exists now to materially increase resource ounces, grade, and confidence south of the Pan mine. The Palomino deposit remains open to the southeast and at shallow depths.

 

Highlights from the Palomino target include:

  • 3.84 g/t Au over 15.2 metres including 4.19 g/t Au over 13.7 metres in Hole PR23-026;
  • 2.08 g/t Au over 27.4 metres including 2.67 g/t Au over 19.8 metres in Hole PR23-058;
  • 2.02 g/t Au over 27.4 metres including 2.19 g/t Au over 24.4 metres in Hole PR23-030;
  • 1.89 g/t Au over 12.2 metres including 2.45 g/t Au over 9.1 metres in Hole PR23-062;
  • 1.15 g/t Au over 15.2 metres including 2.44 g/t Au over 3.1 metres in Hole PR23-036;
  • 1.09 g/t Au over 25.9 metres in Hole PR23-034;
  • 1.02 g/t Au over 27.4 metres including 1.18 g/t Au over 13.7 g/t Au in Hole PR23-037; and
  • All drill targets are located near surface in oxidized limestone.

 

Note: All holes were drilled at angles of -45 to -90 degrees at azimuths designed to intersect targeted structures as nearly as possible to perpendicular when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact ‘true widths.

 

Darren Hall, President, and Chief Executive Officer of Calibre stated: “Pan’s average reserve grade is 0.4 g/t gold, therefore these higher-grade near surface results are very encouraging. Although a small amount of material at Palomino exists in the Inferred Resource category, we expect to see substantially more ounces at higher grades. Operationally, given proximity to the current South Pit and this deposit is within our permitted disturbance area, we could act on this as early as next year. Drilling is ongoing at Palomino and will shift to the south in July toward our Coyote discovery made late last year.”

 

Link 1 – Figures

Link 2 – Drilling Table

 

Quality Assurance/Quality Control

 

Calibre Mining 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 the insertion of assay standards, blanks, and duplicates in the sample stream to ensure the assay lab results are within specified performance levels. All assay batches passed QAQC. Collar surveys are conducted by a mine surveyor using a Trimble instrument. Down hole deviation surveys are provided by trained drill crews operating a north-seeking gyroscope supplied by REFLEX. Collar and downhole surveys are verified by Calibre geologists. RC drilling was performed by Alford Drilling from Elko, Nevada. Assays were performed by Bureau Veritas, Reno where fire assays were determined on a 30-gram charge with an AAS finish. Cyanide leach assays were also completed Bureau Veritas carries ISO/IEC 17025:2017 certification.

 

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.

 

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 June 22, 2023

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