Calibre and B2Gold Continue to Advance the Monte Carmelo Gold Project

Calibre Mining Corp. (TSXV:CXB) announced an update as the Company and B2Gold Corp. continue to advance the Joint Venture on the Borosi Concessions, Northeast Nicaragua.
As quoted in the press release:

B2Gold previously earned a 51% interest in the 208.8 km² project area by spending $8 million. Calibre controls a 49.0% interest in the joint venture and B2Gold has a 51.0% interest and is project operator. B2Gold has the right to earn an additional 19.0% in the Borosi concessions joint venture by spending $6.0 million in additional project expenditures by April, 2018.
Highlights

• Fieldwork is focused on the Monte Carmelo Gold Project which is located north of the town of Rosita where geological mapping an auger rock-soil sampling has outlined skarn and structurally related gold mineralization over an area of 700 metres by 200-300 metres
• Four lines of auger holes collecting 110 rock-soil samples were completed in Q4 2015 with results including;
• North-east-orientated Line TR1 average is; 105 metres grading 5.47 g/t Au*
• North-west-orientated Line NW1 average is; 47 metres grading 3.82 g/t Au*
• Line TR2 returned; 25 metres grading 1.38 g/t Au*
• samples in the central portion of Monte Carmelo gold project show a consistent >0.5 g/t Au gold anomaly that extends 370 m long and 35 to 100 m wide which remains open
• Additional exploration including mapping as well as surface and auger sampling is on-going and is designed to expand and further define the Monte Carmelo Targets

Calibre Mining President and CEO, Greg Smith, stated:

The results of this recent auger sampling program by B2Gold are defining the source for the previously outlined gold in soil anomaly on the Monte Carmelo Gold Project. The good gold grades and consistent nature of the results are encouraging and the mineralization remains open. On-going work will test extensions to the currently defined zone as well as additional near-by zones in order to fully evaluate the potential of the Monte Carmelo Project.

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