Calibre Mining (TSX:CXB) Reports Results From Nevada Pan Mine, Showing Resource Expansion Potential and Results of 3.35 g/t Gold over 18.3 metres and 0.80 g/t Gold Over 47.2 Metres

Source: Calibre Mining Corp.

Calibre Mining (TSX:CXB) has announced new assay results from the 100%-owned Pan Mine in Nevada. Located in the prolific Battle Mountain – Eureka gold trend, ongoing resource conversion and expansion drilling has delivered promising new results. Shown below, the company believes there is a high potential for resource expansion while it focuses on converting known zones of mineralization. Calibre is currently advancing a multi-rig 85,000 metre drill program in 2022 including 50,000 metres of the drilling focused at the Pan Mine.

Darren Hall, President, and Chief Executive Officer of Calibre Mining, commented in a press release: “The recent drilling at Pan has focused on expanding mineralization along trends of known targets. Today’s results confirm our initial interpretation that numerous resource expansion and discovery opportunities exist. We continue to see excellent opportunities for growth and in some cases are seeing shallow, higher-grade zones open for further expansion. Since acquiring Fiore Gold in January, 2022 we have announced positive results and anticipate this year’s results will expand resources and lead to additional mine life.”

Highlights from the Pan Resource expansion and discovery drill program are as follows:

Black Stallion Target

Source: Calibre Mining Corp.
  • 3.35 g/t Au over 18.3 metres in Hole PR22-087; 0.93 g/t Au over 12.2 metres in Hole PR22-116; 0.82 g/t Au over 10.7 metres in Hole PR22-100; 0.50 g/t Au over 15.2 metres in Hole PR22-083; and
  • Significant intercepts outside existing resources remain open to the north, east and west.

Pegasus Target

Source: Calibre Mining Corp.
  • 0.53 g/t Au over 27.4 metres in Hole PR22-094; 0.56 g/t Au over 16.8 metres in Hole PR22-082
  • 0.80 g/t Au over 47.2 metres in Hole PR22-088; 0.52 g/t Au over 64.0 metres in Hole PR22-093;
  • 0.60 g/t Au over 29.6 metres and 0.51 g/t Au over 37.5 metres in Hole PC22-005; and
  • Several intercepts extend mineralization down-dip and along strike and are open for further expansion.

Palomino Target

  • 1.06 g/t Au over 10.7 metres and 0.96 g/t Au over 10.7 metres in Hole PR22-055.

Dune Target

  • 0.90 g/t Au over 22.9 metres in Hole PR22-015; 0.51 g/t Au over 15.2 metres in Hole PR21-062; and
  • Near surface mineralization trending and open to the northwest confirming mineralized zones.

Syncline Target

  • 1.41 g/t Au over 24.4 metres in Hole PR22-032; and
  • Encountered higher grade mineralization to the northwest, outside the Syncline pit and open for expansion.

Dynamite Target

  • 0.57 g/t Au over 51.1 metres in Hole PC22-006; 0.53 g/t Au over 22.9 metres in Hole PR22-061;
  • 0.54 g/t Au over 15.3 metres in Hole PR22-045; 0.44 g/t Au over 30.5 metres in Hole PR22-077;
  • 0.40 g/t Au over 42.7 metres in Hole PR22-073; and
  • Mineralization remains open to the east where follow-up drilling is planned.

Note: All holes were drilled at angles of -45 to -90 degrees at azimuths designed to intersect targeted structures as nearly as possible to perpendicular when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact ‘true widths’.

Source: Calibre Mining Corp.


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 specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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