Calibre Mining To Drill Borosi Gold-Copper-Silver Project
"We have had a very successful initial target delineation program on the Borosi concessions whereby we have outlined new gold-silver epithermal zones and a high grade gold-copper prospect and rapidly advanced these targets to the drill testing stage" stated Robert Brown, President & CEO of Calibre. "In parallel with the initial drill testing of three gold zones, Calibre has accelerated the delineation of three additional, high priority epithermal gold targets within the Borosi concessions"
At Riscos de Oro, Calibre's initial drill program will focus on two targets; the main Riscos de Oro Vein that contain an historical open pit and underground workings and a newly discovered parallel vein zone 800 metres to the North West. The down dip extensions of the Riscos Mine will be drill tested 100 to 150 metres below the abandoned workings and historical Rosario drilling. Historical drill intercepts of 9.43 g/t Au and 163 g/t Ag over 6.2 metres (DDH SG-16), 14.5 g/t Au and 174 g/t Ag over 3.79 metres (DDH SG-17) and 8.06 g/t Au and 563 g/t Ag over 4.1 metres (DDH SG-14) were reported from this ore shoot between the 46 metre and 93 metre development levels . Additional drill holes at Riscos will follow up on the North East and South West Extensions of the Riscos Vein trend. The Riscos vein trend had been defined by previous operators by 18 trenches over a 2 kilometre strike length. The proposed drilling will test mineralized trenches (TR-18; 1.31 g/t Au over 4.5 m and TR-8; 2.54 g/t Au over 2.1 metres) on strike of the main Riscos de Oro mine.
At the second Riscos de Oro zone, results from a 5.5 line-km reconnaissance soil sampling program identified a northeast-trending 700 metre long by 200 metre wide mercury trend northwest of the historic Riscos de Oro mine. The trend is open to the southwest and northeast and is sub-parallel to the Riscos de Oro vein. The zone contains numerous samples of chalcedonic and banded quartz veins that are coincident with a mercury anomaly high. In addition to the soil anomaly, a potassium thorium radiometric low, a possible geophysical signature representing argillic alteration, denotes the area. Calibre interprets this zone to represent the upper portions of a low-sulphidation epithermal precious metal system which may preserve veins at depth. The drill program will test this system at depth.
At La Luna, Calibre completed 8.4 line-km of infill soil sampling and over 120 metres of trenching. This work, when combined with historic soil data, outlined a 2200 metre anomalous gold-in-soil trend that bisects the concession. Mineralization along this epithermal vein trend was defined by four trenches that confirmed the presence of low Sulphidation style epithermal quartz veins and quartz breccias. The proposed drill program will test the depth and extent of mineralization associated with trenches BTR09-009 and BTR09-011 that returned grades of 3.49 g/t Au over 4.2 metres and 3.92 g/t Au over 3.2 metres, respectively. The drill program will also test the depth potential of the historic La Luna pit, a zone associated with a historical open cut and trenched by previous operators that assayed 3.56 g/t Au over 12 metres.
At Bambana, Calibre completed a 37 line-km soil survey and outlined several target areas that are anomalous in gold and copper. One of the main targets is a 500 metre by 300 metre area that carried anomalous gold in soils and overlies coincident chargeability and magnetic geophysical anomalies. The Bambana target area is also associated with artisanal gold workings and a small prospecting pit that returned grades of 1.64 g/t Au, 1645 g/t Ag and 29.9% Cu over 0.90 metres.
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the soil and rock sample strings. Samples are placed in sealed bags and shipped directly to ALS CHEMEX labs in North Vancouver, BC for gold fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Alan Wainwright, Ph.D. P.Geo. Dr. Wainwright is a professional geologist registered in the Province of British Columbia and is a qualified person as defined by NI 43-101.
Calibre Mining Corp. is an aggressive, well financed, TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and copper deposits in Central America. Major shareholders of Calibre include gold producers Yamana Gold Inc. and Kinross Gold Corp.
Calibre Mining Corp.
Signed "Robert Brown"
Robert D. Brown, B.Sc., MBA
President and CEO
For further information contact:
Robert Brown -- Vancouver, Canada
604 681 9944
www.calibremining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Calibre Mining Trenches 4.2 Metres Of 3.49 G/T Gold At La Luna
"The trenching program has confirmed the presence of epithermal gold vein systems that were outlined with our initial soil sampling and mapping program." Robert Brown, President and CEO of Calibre stated. "These trench results have further defined our initial targets that will be followed up with a multi-rig drill program beginning in the first quarter of 2010."
The La Luna vein system is at the south end of a 10 kilometres by 12 kilometres epithermal camp of gold bearing veins within the Borosi concessions. La Luna is characterized by a north west trending low sulphidation epithermal quartz vein system that has been traced over a distance of two kilometres. The northern extension of the La Luna vein system has been tested by seven trenches over a strike length of 900 metres. Highlights from the trenching include trench BTR10-009 which intersected 18.2 metres grading 1.00 g/t gold, including 3.49 g/t over 4.2m, and trench BTR10-011 which intersected 3.2 metres grading 3.92 g/t gold and 1.30 metres of 3.36 g/t Au in two separate quartz veins. Assay results from additional trenching at La Luna will be released when they are received.
Highlights of the trenching results are as follows:
| Trench | Area | From (m) |
To (m) |
Metres | Gold (g/t Au) |
| BTR10-009 | La Luna | 0.00 | 18.20 | 18.20 | 1.00 |
| BTR10-009 | La Luna | 9.20 | 13.40 | 4.20 | 3.49 |
| BTR10-011 | La Luna | 8.50 | 11.70 | 3.20 | 3.92 |
| BTR10-011 | La Luna | 18.90 | 20.20 | 1.30 | 3.36 |
| BTR10-017 | La Luna | 7.50 | 9.80 | 2.30 | 1.45 |
| BTR10-013 | Blag | 5.80 | 6.60 | 0.80 | 2.10 |
In addition, four trenches have been completed on the central portion of the Blag vein system located 9.5 kilometres northeast of La Luna. The four trenches have tested a strike length of 350 metres and the zone is open in both directions along the northeast-southwest strike. Highlights from the trenching include Trench BTR10-013 which intersected 0.80 metres grading 2.10 g/t Au. Trenching continues on the western zone, a 900 metre by 400 metre north-northeast trending vein system at Blag. Further results will be released when received.
In 2010, the Company plans to develop and test drill targets along the La Luna vein trend as well as other high priority veins in the Eastern Epithermal Camp. The exploration program at Calibre's Borosi Gold-Copper-Silver Project is being funded by B2 Gold Corp ("B2 Gold") whereby B2 Gold can earn a 51% interest in the project by funding $8.0 million in exploration expenditures over a 3 year period. The Borosi exploration budget through July 2010 is $2.5 million. Calibre is the project operator.
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the trench sample strings. Samples are placed in sealed bags and shipped directly to ALS CHEMEX labs in North Vancouver BC for gold fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Dr. Alan Wainwright, Ph.D. P.Geo. Dr. Wainwright is a professional geologist registered in the Province of British Columbia and is a qualified person as defined by NI 43-101.
Calibre Mining Corp. is an aggressive, well financed, TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and copper deposits in Central America. Major shareholders of Calibre include gold producers Yamana Gold Inc. and Kinross Gold Corp.
Calibre Mining Corp.
Signed "Robert Brown"
Robert D. Brown, B.Sc., MBA
President and CEO
For further information contact:
Robert Brown -- Vancouver, Canada
604 681 9944
www.calibremining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Calibre Promotes Mr. Santos To Chief Financial Officer
Rob Brown, President and CEO of Calibre, stated, "It gives me great pleasure that Paulo has agreed to take on these additional responsibilities and his growth with the Company gives us continuity in this key area. I would especially like to thank Ed for his diligent work on behalf of Calibre and for his counsel and leadership in the development of the Company. We are pleased to have his continued support as a director and in an advisory and consulting capacity."
Mr. Santos is a Chartered Accountant and has been working with Calibre since 2007. Prior to joining Calibre, Mr. Santos was employed as an external auditor at both local and international accounting and advisory firms in Vancouver, focusing his work on public companies in the junior resource sector for five years. Mr. Farrauto commented, "I am confident that Mr. Santos will serve Calibre extremely well in his new role. This change formalizes a transition that has been underway for some months now and allows me to have a continuing role with the Company. I look forward to being a part of the continued development and success of Calibre."
Calibre Mining Corp. is an aggressive, well financed, TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and copper deposits in Central America. Major shareholders of Calibre include gold producers Yamana Gold Inc. and Kinross Gold Corp.
On behalf of the Board of Directors
"Robert Brown" President and CEO
For further information contact:
Robert Brown - Vancouver, Canada
604 681 9944
www.calibremining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Calibre Mining Closes Private Placement Financing
The exploration program at Calibre's Borosi Gold-Copper-Silver Project is being funded by B2 Gold Corp ("B2 Gold") whereby B2 Gold can earn a 51% interest in the project by funding $8.0 million in exploration expenditures over a 3 year period. The Borosi exploration budget through July 2010 is $2.5 million. Calibre is the project operator.
Recently announced results from the soil and rock sampling programs on the Borosi project along with pending trench sampling results will be used to further delineate targets for the planned 6,000 m drill program, scheduled to begin in the first quarter of 2010.
Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and copper deposits in Central America. Major shareholders of Calibre include gold producers Yamana Gold Inc. and Kinross Gold Corp.
Calibre Mining Corp.
Signed "Robert Brown"
Robert D. Brown, B.Sc., MBA
President and CEO
For further information contact:
Robert Brown -- Vancouver, Canada
604 681 9944
www.calibremining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Four New Epithermal Gold-Silver Vein Systems Delineated At Calibre's Borosi Gold-Copper Project
"The discovery of four new epithermal gold-silver vein systems on the Borosi project after our initial two month sampling and mapping program is quite encouraging and validates our interpretation that the Eastern Epithermal Camp may host significant epithermal vein systems," Robert Brown, President and CEO of Calibre stated. "These new targets represent only a fraction of over twenty gold-silver-copper targets that Calibre is evaluating on the Borosi project. The current target delineation program will culminate in a planned multi-rig, 6000 metre drill program beginning in the first quarter of 2010."
At La Luna (Figure 1), Calibre completed 8.4 line-km of infill soil sampling that when combined with historic soil data, outlined a 2200 metre anomalous gold-in-soil trend that bisects the concession. Within this anomalous gold-in-soil trend, a new 1100 metre by 50 metre zone of low-sulphidation style epithermal quartz veins and quartz breccias was delineated. Mineralization along this epithermal vein trend was defined by 23 rock grab samples returning an average gold grade of 5.6 g/t Au with one sample grading 55.4 g/t Au. In addition to gold, these samples returned an average silver grade of 7.5 g/t Ag and up to 436 g/t Ag.
At Blag, partial results of 70 rock grab samples combined with historic soil coverage identified two new zones containing epithermal quartz veins. The western zone contains anomalous samples in an area 900 metres by 300 metres while the central zone is defined over an area 200 metres by 250 metres. Gold assays from 51 samples of andesite, quartz vein and quartz vein breccia within these two zones yielded an average gold grade of 1.65 g/t Au and up to 50.3 g/t Au with silver values of up to 1200 g/t Ag.
At Riscos de Oro, results from a 5.5 line-km reconnaissance soil sampling program identified a northeast-trending 700 metre long by 200 metre wide mercury trend northwest of the historic Riscos de Oro mine. The trend is open to the southwest and northeast and is sub-parallel to the Riscos de Oro vein. The newly discovered zone contains numerous samples of chalcedonic and banded quartz veins that are coincident with a mercury anomaly high. This newly discovered zone is interpreted to represent the upper portions of a low-sulphidation epithermal precious metal system which may possibly preserve veins at depth.
Each of the newly discovered, open-ended vein trends are currently being trenched and sampled, further results will be released when received. Results from the soil, rock and trenching programs will be used to further delineate targets for the planned 6,000 m drill program, scheduled to begin in the first quarter of 2010.
The exploration program at Calibre's Borosi Gold-Copper-Silver Project is being funded by B2 Gold Corp ("B2 Gold") whereby B2 Gold can earn a 51% interest in the project by funding $8.0 million in exploration expenditures over a 3 year period. The Borosi exploration budget through July 2010 is $2.5 million. Calibre is the project operator.
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the soil and rock sample strings. Samples are placed in sealed bags and shipped directly to ALS CHEMEX labs in North Vancouver BC for gold fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Alan Wainwright, Ph.D. P.Geo. Dr. Wainwright is a professional geologist registered in the Province of British Columbia and is a qualified person as defined by NI 43-101.
Calibre Mining Corp. is an aggressive, well financed, TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and copper deposits in Central America. Major shareholders of Calibre include gold producers Yamana Gold Inc. and Kinross Gold Corp.
On behalf of the Board of Directors
"Robert Brown" President and CEO
For further information contact:
Robert Brown - Vancouver, Canada
604 681 9944
www.calibremining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
