Source: Calibre Mining Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Calibre Mining (CXB) released the first results from step-out drilling along the Panteon North/VTEM geophysical corridor in the Limon Mine Complex in Nicaragua
  • Drilling was designed to test the multi-kilometre-long structure, and these results are located 2.5 kilometres north of Panteon North, which has had numerous bonanza-grade gold
  • Panteon North is expected to contribute positively to the company’s 2022 resource and reserve statement expected in Q1 2023
  • Calibre Mining (CXB) is up 2.15 per cent, trading at $0.95 per share as of 11:10 am ET

Calibre Mining (CXB) released the first results from step-out drilling along the Panteon North/VTEM geophysical corridor in the Limon Mine Complex.

Drilling was designed to test the multi-kilometre long structure, and these results are located 2.5 kilometres north of Panteon North, which has had numerous bonanza grade gold.

Initial results:

  • 11.61 g/t Au over 9.3 metres estimated true width, including 23.93 g/t Au over 1.7 metres ETW, and 15.34 g/t Au over 3.9 metres estimated true width in Hole LIM-22-4701
  • 6.73 g/t Au over 2.1 metres estimated true width in Hole LIM-22-4689
  • 3.67 g/t Au over 2.6 metres estimated true width including 11.10 g/t Au over 0.7 metres ETW in Hole LIM-22-4684

Calibre’s President and CEO, Darren Hall, said that the 2022 drilling campaign has been very successful, with the discovery of the high-grade Panteon North gold shoot, which hosts numerous bonanza-grade gold intercepts over hundreds of metres of strike length.

“First pass, wide-spaced drilling approximately 2.5 kilometres north of Panteon North along the VTEM geophysical corridor has now discovered another new high-grade gold zone which stretches over an initial 1.5-kilometre trend. The VTEM survey has proven to be an excellent tool for targeting zones of high-grade gold mineralization along multiple kilometres of strike from Panteon North. Discovery drilling is underway with four diamond drill rigs along the corridor.”

Panteon North is expected to contribute positively to the company’s 2022 resource and reserve statement expected in Q1 2023.

Calibre Mining Corp. (CXB) is a multi-asset gold producer with a portfolio of exploration and development opportunities in Nicaragua. Its project includes Pavon Gold Project, Borosi Gold Project, IamGold and Santa Rita. The company has only one revenue stream, being the sale of refined gold from its operations in Nicaragua.

Calibre Mining (CXB) is up 2.15 per cent, trading at $0.95 per share as of 11:10 am ET.


More From The Market Herald
Kraken Energy - Senior Geologist, Madeline Berry

" @ the Bell: TSX rebounds on energy & mining rally

Canada’s main stock index bounced back from earlier losses among the technology and utility sectors to close higher on Tuesday, thanks to an
01 Communique - Founder and CEO, Andrew Cheung.

" 01 Communique (TSXV:ONE) launches world’s first quantum-safe secure remote access

01 Communique (ONE) has upgraded its remote access service, I’m InTouch, using quantum mechanics.

" Prime Mining Corp. (TSXV:PRYM) outlines 2023 work program at its Los Reyes Project

Prime Mining Corp. (PRYM) provided an update on work at its Los Reyes Gold and Silver Project in Mexico.
Featured Video Play Icon

" Datametrex AI (TSXV:DM) subsidiary Nexalogy announces pending launch of AnalyticsGPT

Datametrex AI (DM) subsidiary, Nexalogy Environics, is working towards launching AnalyticsGPT (Analytics Generative Pre-Trained Transformer).