Projects
The BOROSI property consists of six mineral and five exploitation concession totaling 710 km2 of northeastern Nicaragua, approximately 230 kilometres northeast of Managua. Calibre has entered into a joint venture agreement with B2Gold Corp to explore and develop the Borosi project. Under the terms of the agreement, B2Gold may earn a 51% interest in the Borosi concessions by completing C$8 million of exploration expenditures over a three year period. The first year of the agreement calls for an exploration commitment of C$2.5 million, with Calibre Mining acting as operator.
The BOROSI property has potential to host two major types of mineral deposit: low sulphidation epithermal Au-Ag veins; and Au-Cu skarns and their associated porphyry and vein/replacement mineralization. Prospects with potential for skarn-related mineralization include:
Eastern Epithermal Camp
- Four areas of low sulphidation veining with over 18km of total vein strike length.
- La Luna trenching results: 3.5 g/t Au over 12m
- Grab samples of up to 46 g/t Au
- Includes the past producing mines of Riscos de Oro, El Blag, and La Luna
Rosita Camp
- Past producing Santa Rita and R-13 copper mines
- Bambana Gold Copper target
- Channel sample returned 1.64 g/t Au, 1645 g/t Ag, 29.9% Cu, 3.2% Zn over 0.9m
Bonanza Camp
- Three epithermal vein targets immediately on strike of the historic Bonanza gold mine
Siuna Camp
- Past producing La Luz Mine
- Two advanced drill targets; Cerro Potosi and Cerro Aeropuerto
- CA07-01: 19.72 g/t Au over 3m and 5.75 g/t Au over 24m
- CA07-02: 25.08 g/t Au over 2m and 16.94 g/t Au over 2.2m
A CDN$2.5 million multi-faceted exploration program is underway on the BOROSI property. The first facet consists of property-wide geological mapping, data compilation and prospect mapping/sampling/description, to provide a property-wide framework for future exploration and to understand the potential of different areas and each of the known prospects. The second facet will advance the Easter Epithermal Vein targets and the Bambana/Minnesota porphyry prospects through soil geochemistry, more detailed mapping and hand-trenching. The third facet will be diamond drilling to better understand the geometry and potential of mineralization at the main known epithermal vein and porphyry related targets.
