Mr. Greg Smith of Calibre reports
CALIBRE AND CENTERRA GOLD DRILL 77.8 METRES GRADING 1.1 G/T AU AT THE CERRO AEROPUERTO GOLD DEPOSIT, NORTHEASTERN NICARAGUA
Calibre Mining Corp. has provided an update as the company and Centerra Gold Inc. continue to advance the Siuna project, Borosi Concessions, Northeast Nicaragua.Centerra can earn a 70-per-cent interest in the project by investing $7-million in exploration on the property before Dec. 31, 2019.
Highlights
Drilling at the Cerro Aeropuerto gold deposit in drill hole CA17-045 returned a weighted average of 77.78 metres grading 1.09 grams per tonne gold with a second holeCA17-052 intersecting high-grade gold mineralization of 1.38 metres grading 54.80 g/t Au (uncut).The 2017 diamond drilling program on the Cerro Aeropuerto deposit financed by Centerra included 3,526 metres completed in eight drill holes. Additionally, diamond drilling on the Siuna project tested newly identified and defined gold anomalies associated with the eight- to 10-kilometre-long El Dorado trend located in the north-central portion of the 253-square-kilometre project. Final results are pending. Additional fieldwork consisting of induced polarization surveying was completed in the fourth quarter of 2017 on the northernmost target at El Avion.
President and chief executive officer Greg Smith stated: "The 2017 drilling program at the Cerro Aeropuerto gold deposit continues to expand the mineralization intersecting both wide zones of gold mineralization and narrower high-grade zones of up to 54.8 grams per tonne gold over 1.38 metres. The continuing exploration and drilling program on the Siuna project continues to test exciting new targets in the El Dorado trend portion of the northern Siuna project and define new high-quality gold-copper targets at El Avion."
2017 diamond drilling
The recently completed drilling program at Cerro Aeropuerto consisted of 3,526 metres in eight drill holes.Drilling tested the continuity and orientation of the previously identified primary gold-bearing structures as well as stepouts to the south and down dip.Results are detailed in the following table.
Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Cu (ppm)Zn (ppm)CA17-045111.15188.93 77.781.09 7.6 161 449including 179.60188.939.335.6029.9 641 1502nd zone269.92286.70 16.781.09 2.251 3213rd zone408.70413.274.571.1821.1 275 7,106CA17-046130.00183.50 53.500.35 3.2 244 146including 130.00133.603.603.8939.4 329 1812nd zone314.46323.709.241.1319.2 3,206 2,326CA17-052143.35160.12 16.770.88 8.983 337including 147.92155.557.631.7718.15484HG zone 377.18378.561.38 54.8012.6 20222,100CA17-054 57.00259.64202.640.25 4.2 531 403including57.00 59.472.471.5912.2 863 3,046and 124.85131.877.020.94 9.1 195 1,155and 137.25138.771.522.79 262.0 2,01312,900 Notes: Intervals are core lengths/true width are estimated to be 80 per cent to 90 per cent oflengths.Length weighted averages from uncut assays.
The 2017 Cerro Aeropuerto drilling tested the mineralization over approximately 400 metres of strike length and to depth of 350 metres below surface.
Drill holes CA17-043 and CA17-044 were drilled in the northern edge of the existing Cerro Aeropuerto deposit testing the along strike extension of the deeper portion of the system.Intercepts included 4.83 metres grading 0.77 g/t Au in CA17-043 and 18.68 metres grading 0.21 g/t Au in CA17-044.
Drill holes CA17-045 and CA17-046 tested down-dip portion of Cerro Aeropuerto under drill hole CA15-20 which intercepted 71.05 metres grading 2.89 g/t Au.Intercepts included 77.78 metres grading 1.09 g/t Au, a second zone of 16.78 m grading 1.09 g/t Au and a third zone of 4.57 m grading 1.18 g/t Au in CA17-045, while CA17-046 intercepts include 53.5 metres grading 0.35 g/t Au and a second zone of 9.24 m grading 1.13 g/t Au, 0.32 per cent Cu and 0.23 per cent Zn.
Drill holes CA17-047 and CA17-048 were drilled under the southern extension to the deposit testing the down dip extension of the system intercepted in CA16-047 which included 16.77 metres grading 0.39 g/t Au.Intercepts included 4.83 metres grading 0.77 g/t Au in CA17-043 and 18.68 metres grading 0.21 g/t Au in CA17-048.
Drill holes CA17-052 and CA17-054 were drilled 50 and 250 metres respectively south of the Cerro Aeropuerto deposit.Intercepts in CA17-052 include 16.77 metres grading 0.88 g/t Au, a second zone of 27.30 metres grading 0.39 g/t Au, and a third zone of 63.5 m grading 0.34 g/t Au and 0.05 per cent Cu which included 6.67 m grading 1.8 g/t Au and 0.1 per cent Cu and a lower intercept of 1.38 g/t Au, 12.6 g/t Ag, 0.02 per cent Cu and 2.21 per cent Zn.Intercepts in CA17-054 include a broad mineralized zone of 202.64 metres grading 0.25 g/t Au, including higher grade structures of 2.47 metres grading 1.59 g/t Au and 12.2 g/t Ag, 1.52 metres grading 2.79 g/t Au with 262 g/t Ag, 0.20 per cent Cu and 1.29 per cent Zn, and 10.96 metres grading 0.58 g/t Au.
Geologic interpretation of drill holes to date has identified a gold-bearing hornblende diorite porphyry body bounded by shear zones containing serpentinized basic to ultrabasic rock and calcareous metasediments.The strongest mineralization is located near the serpentinite-diorite contacts where sulphide-bearing quartz-carbonate veins and silicified hydrothermal breccias correlate well with high-grade gold values.
Q4 2017 exploration
In Q4 2017 two diamond drills on the Siuna project tested newly identified and defined gold anomalies associated with the eight- to 10-kilometre-long El Dorado trend located in the north-central portion of the 253-square-kilometre project. Assays are pending.
The third area of active exploration within the Siuna project is the northernmost target at El Avion.The zone is defined by a multielement anomaly in soil and rock sampling which covers an area of 2.5 kilometres by three kilometres.Work completed in December, 2017, included ground geophysics completed by Zonge Geophysics consisting of 49.6 line kilometres of dipole-dipole induced polarization.
The technical content in this news release was read and approved by Gregory Smith, PGeo, president and chief executive officer of the company who is the qualified person as defined by National Instrument 43-101.
2018 exploration
Additional exploration on the Siuna project will commence in January of 2018.Primary targets will be the northern half of the eight- to 10-kilometre-long El Dorado trend and continued advancement at El Avion with initial drilling expected in the first half of the year.
About Calibre Mining Corp.
Calibre owns a 100-per-cent interest in over 413 square kilometres of mineral concessions in the mining triangle of northeast Nicaragua including the Primavera gold-copper project and Santa Maria gold project. Additionally the company has optioned to Iamgold (176 square kilometres) and Centerra Gold (253 square km) concessions covering an aggregate area of 429 square km and is party to a joint venture on the 33.6 square km Rosita D gold-copper-silver project with Rosita Mining Corp. Major shareholders of Calibre include gold producer B2Gold Corp., Pierre Lassonde and management.
Hole IDFrom (m)To (m) Length (m)Au (g/t)Ag (g/t) Cu (ppm)Zn (ppm)CA17-043211.22216.05 4.830.77 5.3165 1,2412nd zone292.80301.97 9.170.20 1.5 43 2,324CA17-044187.57189.00 1.431.3131.6105 2072nd zone227.22245.9018.680.21 1.0240 186CA17-045111.15188.9377.781.09 7.6161 449including 179.60188.93 9.335.6029.9641 1502nd zone269.92286.7016.781.09 2.2 51 321including 282.12286.70 4.583.18 5.8 95 9343rd zone408.70413.27 4.571.1821.1275 7,106CA17-046130.00183.5053.500.35 3.2244 146including 130.00133.60 3.603.8939.4329 1812nd zone314.46323.70 9.241.1319.23,206 2,326CA17-047239.80244.85 5.050.9110.4514 2,7592nd zone364.00369.05 5.050.29 6.8 10 364CA17-048188.40249.3060.900.15 0.8547 219CA17-052143.35160.1216.770.88 8.9 83 337including 147.92155.55 7.631.7718.1 54842nd zone179.20206.5027.300.39 2.217998including 180.88184.08 3.201.79 6.1482 1253rd zone297.50361.0063.500.34 4.7471 1,100with309.00315.67 6.671.80 6.21,033 136HG zone 377.18378.56 1.38 54.8012.620222,100CA17-054 57.00259.64 202.640.25 4.2531 403including57.00 59.47 2.471.5912.2863 3,046and 124.85131.87 7.020.94 9.1195 1,155with124.85 126.4 1.552.4928.9151 2,806and 137.25138.77 1.522.79 262.02,01312,900with246.40257.3610.960.5810.6750 861 Notes:Intervals are core lengths/true width are estimated to be 80 per cent to 90 per cent of lengths.Length weighted averages from uncut assays.Additional details and maps posted on website.
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