Calibre Mining and Centerra Gold Drill 53.7 Metres Grading 10.47 g/t Gold in Nicaragua

Calibre Mining Corp. (TSXV:CXB) announced an update as the Company and Centerra Gold Inc. (TSX: CG) (“Centerra”) continue to advance the La Luz Project, Borosi Concessions, Northeast Nicaragua. Centerra can earn a 70% Interest in the La Luz Project by investing $7.0 million in exploration on the property before December 31, 2019.
As quoted in the press release:

Highlights

• The 2015/2016 Diamond Drilling Program on the Cerro Aeropuerto Project being funded by Centerra included 1421 metres completed in 5 drill holes.
• Results for the remaining holes include CA15-022 which returned a weighted average of 53.7 metres grading 10.47 g/t Au including 2.7 metres grading 120.58 g/t Au (uncut)
• Extensive exploration continues to further define the three high priority targets outlined to date including the 3.8 km long Cerro Coyol – El Tiburon gold trend.
• In-fill soil sampling was completed in March 2016 with results pending and during Q1 2016 a total of 137 line kilometer of ground magnetics and 25 line kilometres of Induced Polarization geophysical surveying was completed testing all three gold trends.
• current fieldwork is concentrating on an extensive trenching program testing geological, geochemical, and geophysical anomalies generated by the Calibre/Centerra exploration with a goal of prioritizing drill targets for additional diamond drilling in 2016

Calibre Mining President and CEO, Greg Smith stated:

This new high grade intercept at Cerro Aeropuerto together with the previously released intercept of 71.05 metres grading 2.89 g/t Au highlights the potential for additional discoveries within the historic portion of the La Luz Project. Our continued success on the three newly-defined gold trends further emphasizes the up-side potential we see for the Project. The systematic exploration to date and the on-going trenching program will generate high quality drilling targets which we believe give the best opportunity for discovery with additional drilling planned in 2016

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