Producing Assets Eastern Borosi Gold-Silver
Overview
Calibre owns 100% of the Eastern Borosi Gold-Silver Property (“EBP”), located in the northeastern Nicaraguan low-sulphidation, epithermal district that hosts numerous high-grade, gold-silver vein systems.
The 176 km2 Eastern Borosi land package consists of open pit and underground known resources including Riscos de Oro, East Dome, Blag and La Luna, in addition to the now operating, Guapinol/Vancouver open pit mine. These deposits consist of numerous low sulphidation gold-silver vein systems. Currently, Eastern Borosi hosts an Indicated Mineral Resource of 1.031 million tonnes at 8.48 g/t gold for contained gold of 281,000 ounces and an Inferred Mineral Resource of 2.895 million tonnes at 3.18 g/t gold for contained gold of 296,000 ounces.
Surrounding the Eastern Borosi project is a large 7,281 km2 land package also 100% owned by Calibre. The land package is prospective for porphyry, skarn and epithermal vein deposits, which include the Primavera and Cerro Aeropuerto deposits both of which contain an Inferred Mineral Resource.
Primavera is a gold-copper porphyry deposit which hosts an Inferred Mineral Resource of 44,974,000 tonnes at 0.54 g/t gold, 1.15 g/t silver and 0.22% copper for 782,000 ounces of gold, 1,661,000 ounces of silver and 218,670,000 pounds of copper, yielding a gold grade equivalent of 0.84 g/t (see NI 43-101 Technical Report dated January 31, 2017).
Cerro Aeropuerto contains gold and base metal bearing quartz and replacement style skarn mineralization which hosts an Inferred Mineral Resource of 6,052,000 tonnes at 3.64 g/t gold and 16.16 g/t silver for 707,750 ounces of gold and 3,144,500 ounces of silver yielding a gold grade equivalent of 3.89 g/t.
Mining from the Guapinol/Vancouver Open Pit
Mining from the Guapinol/Vancouver open pit at EBP commenced in April 2023, marking another signficant milestone in Calibre's efforts to organically grow production. Ore delivery, 400 km by road, to the Libertad processing plant commenced in May 2023.
Strong Resource Expansion Potential
As part of the 2023 exploration program, Calibre had 2 rigs drilling within the EBP land package. Drill results from the 2023 Resource conversion and expansion program reinforce the potential for discovery and expansion. Highlights from these results include:
- 12.9 g/t Au over 8.5 metres ETW including 23.30 g/t Au over 1.6 metres ETW and 35.50 g/t Au over 1.24 metres ETW in drill hole BL-23-097;
- 10.61 g/t Au over 7.2 metres ETW including 27.47 g/t Au over 2.3 metres ETW in Hole BL-23-099;
- 7.1 g/t Au over 5.0 metres ETW including 14.75 g/t Au over 2.3 metres in Hole BL-23-102.
(see Calibre news releases dated May 10, 2023)
Geology
The EBP district covers a regional scale structural corridor of northeast trending steeply dipping faults and subordinate north-northeast and north-northwest trending linking fault structures that transect a thick sequence of andesitc volcanic rocks. Low to intermediate sulfidation epithermal veins host bonanza style gold-silver mineralization along with lead-zinc occurring in some vein systems. Individual deposits occur as steeply plunging ore shoots and sheeted vein arrays localized at fault intersections at multiple locations within the EBP claim block. Indicated and Inferred Mineral Resources have been delineated along the Guapinol and neighboring Vancouver vein systems, and the Riscos de Oro vein zone located 3 kilometres to the west. Inferred resources have also been delineated at the Blag, East Dome and La Luna deposits located elsewhere within the EBP concession block. In addition to the known deposits at EBP, surface reconnaissance exploration has identified several other prospective vein systems that offer excellent potential for the continued discovery of new resources within the project area.
Mineral resources have been defined in six vein systems that are exposed along an eight-by-ten kilometre structural trend that remains open to the northeast and southwest. Calibre intends to (i) evaluate the potential to expand known resources where the vein systems remain open along strike and at depth, (ii) identify and test new vein systems along the structural trend, and (iii) evaluate the opportunity to leverage the resource potential of the Property as part of the Company’s ‘hub-and-spoke’ operating philosophy. Click here to see Deposit Location Map.
Mineral resources have been defined in six vein systems that are exposed along an eight-by-ten kilometre structural trend that remains open to the northeast and southwest.