projects
Borosi Concession Map
The Santa Maria gold-silver-copper prospect is located approximately 10 kilometres northwest of the historic Santa Rita copper-gold skarn mine in the Borosi Concessions of northeast Nicaragua. The area is characterized by rolling hills with up to 200 metres of relief that is incised by the local Tunky River.
The Santa Maria prospect is subject to an option agreement with B2Gold Corp ("B2Gold"), whereby Calibre is acting as operator and B2Gold may earn up to a 51% interest in specific concessions within the Borosi area by funding CDN$ 8 million in expenditures by June 2014. Once the earn-in is complete, B2Gold may elect to carry an individual prospect within the concession area through to a Pre-Feasibility Study for an additional 14% interest in the prospect.
The Company announced on January 29, 2013, that B2Gold Corp. has completed the necessary $8 million in expenditures to earn a 51% interest in the 322sq. kilometre Borosi concessions; and an initial budget of $2 million has been approved for exploration and drilling at the Primavera in 2013: The Phase I budget will fund 1,500 m of diamond drilling, geological and geophysical compilation and in interpretation, geological mapping and trenching, and discussions regarding finalizing a formal Joint Venture Agreement between B2Gold Corp. and Calibre Mining Corp. are currently underway.
Initial Exploration
An initial fieldwork program at the Santa Maria prospect led to the discovery of a high grade epithermal gold vein system over a 600 metre strike length with grab and composite chip panel samples grading up to 64.1 g/t Au (1.87 oz/t Au) and 109 g/t Ag (3.18 oz/t Ag). The program has consisted of reconnaissance geologic mapping over a 9 square kilometre area; over 7 line-kilometres of soil sampling; and 37 rock chip and grabs samples. Mapping has outlined a 2 kilometre long, north striking, epithermal vein system hosted in andesite volcanics. Soil sampling results over a portion of this area outlined an open ended, 800 metre by 40 metre coincident gold and copper in soil anomaly (with results up to 828 ppb Au and 710 ppm Cu).
Multiple rock chip and grab samples coincident with the soil anomaly returned values of over 9 g/t Au from quartz veins and andesite tuffs. The new discovery was made by following a disciplined and focused exploration program that included investigating mineral occurrences reported by local inhabitants, Calibre's exploration team in Nicaragua discovered the new high grade vein system concealed by saprolitic cover. The prospect is only 3 kilometres from the Rosita-Bonanza road, in an area that until now had been relatively under explored.
Follow-up exploration at the Santa Maria prospect will include expanding the current soil grid coverage, additional rock chip sampling and preparation of drill targets on this high grade discovery.
Significant rock sample assay results from the Santa Maria Epithermal Vein are outlined in the table below:
Santa Maria
Borosi Concession Map
The Santa Maria prospect is subject to an option agreement with B2Gold Corp ("B2Gold"), whereby Calibre is acting as operator and B2Gold may earn up to a 51% interest in specific concessions within the Borosi area by funding CDN$ 8 million in expenditures by June 2014. Once the earn-in is complete, B2Gold may elect to carry an individual prospect within the concession area through to a Pre-Feasibility Study for an additional 14% interest in the prospect.
The Company announced on January 29, 2013, that B2Gold Corp. has completed the necessary $8 million in expenditures to earn a 51% interest in the 322sq. kilometre Borosi concessions; and an initial budget of $2 million has been approved for exploration and drilling at the Primavera in 2013: The Phase I budget will fund 1,500 m of diamond drilling, geological and geophysical compilation and in interpretation, geological mapping and trenching, and discussions regarding finalizing a formal Joint Venture Agreement between B2Gold Corp. and Calibre Mining Corp. are currently underway.
 Scenic view of Santa Maria |
 View from the Tunky River |
Initial Exploration
An initial fieldwork program at the Santa Maria prospect led to the discovery of a high grade epithermal gold vein system over a 600 metre strike length with grab and composite chip panel samples grading up to 64.1 g/t Au (1.87 oz/t Au) and 109 g/t Ag (3.18 oz/t Ag). The program has consisted of reconnaissance geologic mapping over a 9 square kilometre area; over 7 line-kilometres of soil sampling; and 37 rock chip and grabs samples. Mapping has outlined a 2 kilometre long, north striking, epithermal vein system hosted in andesite volcanics. Soil sampling results over a portion of this area outlined an open ended, 800 metre by 40 metre coincident gold and copper in soil anomaly (with results up to 828 ppb Au and 710 ppm Cu).
Multiple rock chip and grab samples coincident with the soil anomaly returned values of over 9 g/t Au from quartz veins and andesite tuffs. The new discovery was made by following a disciplined and focused exploration program that included investigating mineral occurrences reported by local inhabitants, Calibre's exploration team in Nicaragua discovered the new high grade vein system concealed by saprolitic cover. The prospect is only 3 kilometres from the Rosita-Bonanza road, in an area that until now had been relatively under explored.
Follow-up exploration at the Santa Maria prospect will include expanding the current soil grid coverage, additional rock chip sampling and preparation of drill targets on this high grade discovery.
Significant rock sample assay results from the Santa Maria Epithermal Vein are outlined in the table below:
| Sample ID | Sample Style |
Rock Type | Gold (g/t Au) |
Silver (g/t Ag) | Copper (% Cu) |
|---|---|---|---|---|---|
| B10R0350 | Grab | Quartz Vein | 64.10 | 109.00 | 0.211 |
| B10R1421 | Chip | Quartz Vein | 22.30 | 26.40 | 0.280 |
| B10R5124 | Grab | Quartz Vein | 20.90 | 109.00 | 0.096 |
| B10R0351 | Chip | Quartz Vein | 20.40 | 56.10 | 0.276 |
| B10R1420 | Chip | Andesite Tuff | 14.05 | 93.10 | 0.413 |
| B10R1507 | Grab | Quartz Vein | 12.60 | 13.50 | 0.125 |
| B10R5128 | Chip | Quartz Vein | 11.00 | 66.00 | 0.513 |
| B10R0349 | Grab | Quartz Vein | 9.59 | 9.20 | 0.106 |
 Summary of significant rock sample results from Santa Maria |
 Grab sample from Santa Maria |
 Gold soil sampling results from Santa Maria |
 Copper soil sampling results from Santa Maria |
 Lead soil sampling results from Santa Maria |
 Zinc soil sampling results from Santa Maria |
CALIBRE MINING NEWS
- May 07, 2013Step-Out Trenching at Calibre's 100% Owned Riscos de Oro Deposit returns
13.50 m Grading 3.26 g/t Gold and 14.7 g/t Silver
Eastern Epithermal District, Borosi Concessions, Nicaragua - April 26, 2013Calibre Engages Roman Friedrich & Company as Financial Advisors
- April 25, 2013B2Gold to Spend $6.0 Million to Earn an Additional 19% Interest in Calibre's Primavera Gold - Copper Project and Surrounding Borosi Concessions in the Mining Triangle, Nicaragua
- March 28, 2013Calibre Adopts Advance Notice Policy
- March 25, 2013Calibre Discovers New Porphyry and Skarn-Style Mineralization at La Virgen and Montes de Oro Targets, Borosi Concessions, Nicaragua with Trenches Assaying 9.0 m Grading 10.76 g/t Au and 0.12% Cu along with 45.0 m grading 0.40 g/t Au and 0.19% Cu
- February 19, 2013Calibre Announces Initial Metallurgical Testing of Primavera Mineralization Shows Excellent Recoveries for Gold and Copper
- January 29, 2013Primavera DH Collars