Calibre advances Eastern Borosi Project ahead of schedule

Infill drill results highlights

Guapinol Open Pit

• 9.07 g/t gold (Au) and 19.9 g/t silver (Ag) over 6.5 m estimated true width (ETW) from 216 m (GP-21-082).
• 25.9 g/t Au and 15.3 g/t Ag over 1.9 m ETW from 163 m (GP-21-083).
• 22.7 g/t Au and 25.5 g/t Ag over 1.8 m ETW from 160.7 m (GP-21-087).

Vancouver Open Pit

• 6.42 g/t Au and 14.1 g/t Ag over 7.1 m ETW from 32.4 m (GP-21-071).
• 4.46 g/t Au and 39.7 g/t Ag over 4.8 m ETW from 79.9 m (GP-21-072).

Riscos De Oro Underground

• 26.49 g/t Au and 99.4 g/t Ag over 2.2 m ETW from 313.3 m (RDO -21-052).
• 7.76 g/t Au and 186 g/t Ag over 2.9 m ETW from 284 m (RDO-21-056).
• 3.18 g/t Au and 262.2 g/t Ag over 8.2 m ETW from 204 m (RDO -21-057).

Project progress

• Completed 75% of the infill, metallurgical, geotechnical, and hydrological drilling.
• Additional Guapinol drill results are pending from infill holes completed in the vicinity of previously drilled holes in the core of the high-grade shoot that assayed:
  • 14.39 g/t Au and 14.51 g/t Ag over 6.03 m (GP-14-002).
  • 25.66 g/t Au and 35.19 g/t Ag over 4.81 m (GP-14-003) and 26.48 g/t Au and 24.19 g/t Ag over 2.76 m (GP-14-030).
    • See news releases dated 2 September 2014 and 21 January 2015.
• Acquired most of the required surface rights.
• Advanced social, technical, environmental work including.
  • Guapinol/Vancouver opencast design, site layout and infrastructure plans.
  • Riscos de Oro underground mine design specialists engaged.

Darren Hall, President and CEO of Calibre, stated: “EBP represents an exciting opportunity to provide additional high-grade mill feed to our Libertad mill as part of our Hub and Spoke operating strategy. Our initial focus has been on progressing the Guapinol, Vancouver and Riscos De Oro deposits, which contain inferred resources of 515 000 oz of Au and 4.37 million oz of Ag, averaging 8.15 g/t Au and 69 g/t Ag (see news release dated 20 April 2021). Considering we only commenced work in February 2021, I am pleased with the team's progress, particularly as we have now acquired most of the required surface rights to facilitate open pit and underground mining at EBP. Given the excellent progress in the last 5 months, I expect permit applications to commence, and updated mineral resource estimates for Guapinol/Vancouver and Riscos De Oro to be completed during 1Q22.”

Additionally, Mark Petersen, VP Exploration and his team believe EBP has strong potential for resource growth and new discoveries along an 8 x 10 km structural vein trend that remains open to the northeast and southwest: “By the end of July, we should have our infill programme completed allowing our teams to focus on the initial 7500 m resource growth drilling around known high-grade deposits.”

Opportunity

• Over 20 new gold targets have been identified across the 176 km² land package with excellent potential to expand known resources and make new discoveries.
• Previously drilled vein systems that do not currently host resources include:
  • The Cadillac Zone which returned drill results including 8.93 g/t Au and 57.4 g/t Ag over 2.6 m ETW (LS15-008).
  • The San Cristobal Zone: 10.92 g/t Au and 859.0 g/t Ag over 5.7 m ETW (SC18-002).
  • The Veta Loca Zone: 10.15 g/t Au and 6.9 g/t Ag over 5.4 m ETW (GP16-046).
    • See Calibre news releases dated 15 September 2016, 1 February 2018 and 5 December 2018.
• Resource expansion drilling to begin 3Q21.

Read the article online at: https://www.globalminingreview.com/exploration-development/08072021/calibre-advances-eastern-borosi-project-ahead-of-schedule/