Calibre Discovers New High-Grade Gold Veins at Eastern Borosi Gold-Silver Project in Nicaragua

- April 1st, 2015

Calibre Mining Corp. (TSXV:CXB) announced its first set of results from the 2015 drilling program at the Eastern Borosi gold-silver project in Nicaragua, which include the discovery of three new high-grade gold veins.The drill program began on February 4 and is expected to include a minimum 5500 meters of drilling with an approved budget of $1.5 million. The project is being financed under an option agreement with IAMGOLD Corporation (TSX:IMG,NYSE:IAG).

Calibre Mining Corp. (TSXV:CXB) announced its first set of results from the 2015 drilling program at the Eastern Borosi gold-silver project in Nicaragua, which include the discovery of three new high-grade gold veins.The drill program began on February 4 and is expected to include a minimum 5500 meters of drilling with an approved budget of $1.5 million. The project is being financed under an option agreement with IAMGOLD Corporation (TSX:IMG,NYSE:IAG).

Highlights include:

  • Diamond drilling on multiple veins in the La Sorpresa gold-silver vein system has discovered three new gold-silver mineralized shoots including: 4.10 meters at 8.93 g/t gold and 57.4 g/t silver (Cadillac), 1.40 meters at 5.71 g/t gold and 15.7 g/t silver (Jaguar), 1.40 meters at 9.70 g/t gold and 98.0 g/t silver (Cadillac), and 3.17 meters at 2.41 g/t gold and 32.9 g/t silver (Mercedes)
  • To date the 2015 drilling program has completed 16 holes for 1622.6 meters at La Sorpresa (results received for 15 of the 16 holes) and three holes totaling 526.6 meters at Blag (results pending)
  • The La Sorpresa gold-silver vein system is located along trend and 7 kilometers north of the California target and had not previously been tested by drilling.
  • Mapping by Calibre in the La Sorpresa area identified up to five veins with a cumulative strike length of 5.8 kilometers. Drilling to date in 2015 has tested 1.1 kilometers of four closely spaced veins at La Sorpresa; Mercedes, Cadillac, Lincoln, and Jaguar.

Greg Smith, president and CEO of Calibre, commented:

The results for the first few drill holes at la Sorpresa gold-silver vein system are a tremendous start to the 2015 drilling program. We are particularly pleased that we have been able to discover another high grade gold zone notably in the La Sorpresa Target where no previous drilling had occurred. With only 20 percent of the known La Sorpresa vein system having been tested by shallow drilling, Calibre continues to be encouraged by the potential for additional new gold/silver discoveries on the Eastern Borosi Project.

Click here to read the full Calibre Mining Corp. (TSXV:CXB) press release.

 

Leave a Reply