Calibre Mining (TSX:CXB) Reports New Discovery of High-Grade Gold at the Limon Mine Complex

Source: Calibre Mining

Calibre Mining (TSX:CXB) has announced the very first results from step-out drilling along the Panteon North/VTEM geophysical corridor at the Limon Mine Complex. The drilling was designed to test a multi-kilometre structure identified in the 2022 VTEM geophysical survey, with results returning new intercepts. The results come from roughly 2.5 kilometres north of Panteon North, which the company has previously reported multiple high-grade gold intercepts to this point. The company expects the Panteon North corridor to continue to contribute to its 2022 Resource and Reserve statement that it expects to release in Q1 2023.

Darren Hall, President and Chief Executive Officer of Calibre, commented in a press release: “Our 2022 drilling campaign has been very successful, with the discovery of the high-grade Panteon North gold shoot which hosts numerous bonanza grade gold intercepts over hundreds of metres of strike length. First pass, wide spaced drilling approximately 2.5 kilometres north of Panteon North along the VTEM geophysical corridor has now discovered another new high-grade gold zone which stretches over an initial 1.5-kilometre trend (see figures). The VTEM survey, first released on June 27, 2022 (see news release here) has proven to be an excellent tool for targeting zones of high-grade gold mineralization along multiple kilometers of strike from Panteon North. Discovery drilling is underway with four diamond drill rigs along the corridor.”

Highlights from the results are as follows:

  • 11.61 g/t Au over 9.3 metres Estimated True Width (“ETW”) including 23.93 g/t Au over 1.7 metres ETW, and 15.34 g/t Au over 3.9 metres ETW in Hole LIM-22-4701;
  • 6.73 g/t Au over 2.1 metres ETW in Hole LIM-22-4689;
  • 3.67 g/t Au over 2.6 metres ETW including 11.10 g/t Au over 0.7 metres ETW in Hole LIM-22-4684.
Source: Calibre Mining
Source: Calibre Mining

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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