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calibre mining corp (CXB) Snapshot

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calibre mining corp (CXB) Details

Calibre Mining Corp. engages in the acquisition, exploration, and development of gold and silver deposits in central America. It focuses on the Riscos de Oro gold-silver deposit, the Primavera gold-copper project, and the Rosita copper-gold-silver project, which are located in the Borosi Concessions, northeast Nicaragua. The company is headquartered in Vancouver, Canada.

calibre mining corp (CXB) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$193.3K
Chief Financial Officer
Total Annual Compensation: C$138.3K
Compensation as of Fiscal Year 2013.

calibre mining corp (CXB) Key Developments

Calibre Mining and B2Gold Complete Reconnaissance Diamond Drilling Program at the Minnesota Gold Project, Borosi Concessions, Nicaragua

Calibre Mining Corp. announced the completion of the reconnaissance diamond drilling program on the Minnesota Gold Project within the B2Gold Corp. joint venture on the Borosi concessions, northeast Nicaragua. Calibre controls a 49.0% interest in the joint venture and B2Gold has a 51.0% interest and is project operator. B2Gold has the right to earn an additional 19.0% in the Borosi concessions joint venture by spending $6.0 million in additional project expenditures by April 2016. B2Gold can maintain its right to earn an additional 19.0% in the Borosi concessions joint venture by spending $1.5 million in additional project expenditures in 2015. The 2014 reconnaissance diamond drilling program at the Minnesota gold project consisted of seven widely spaced drill holes totaling 992 meters which tested three areas along the three kilometer trend of the Minnesota target which is defined by a strong auger and gold-in soil anomaly and surface rock sampling; drilling results include: 31.35 meters grading 0.63 g/t Au (including 12.40 meters grading 1.07 g/t Au) and 47.00 meters grading 0.63 g/t Au and 3,703 ppm Zn (including 4.50 meters grading 3.43 g/t Au and 5,699 ppm Zn); the geochemical signature for the portion of the Minnesota system drill tested to date is consistent with an intrusive association for the mineralization with gold and silver values being associated with elevated zinc, lead and molybdenum; the planned 2015 B2Gold exploration program will continue to evaluate and advance a number of gold targets in and around the Minnesota gold project and elsewhere on the joint venture concessions. Three drill holes (MN14-001, MN14-002 and MN14-003) were completed in the Northern Area in the vicinity of contiguous Trenches MINTR14-006 to 011 and MINTR14-016 which intersected 109.6 meters grading 1.58 g/t Au with drill hole MN14-001 returning 31.35 meters grading 0.63 g/t Au (including 12.4 meters grading 1.07 g/t Au). Additional drilling (MN14-004 and MN14-007) tested the Central Area (one kilometer to the south-west of the Northern Area) where previous channel samples returned; 9.20 meters grading 4.17 g/t Au (MNTR13-02) with drill hole MN14-004 intersecting 47.00 meters grading 0.63 g/t Au and 3,703 ppm Zn (including 4.50 meters grading 3.43 g/t Au and 5,699 ppm Zn. A further two holes (MN14-005 and MN14-006) tested the Southern Area (3 km Southwest from the Northern Area) where channel samples returned; 12.80 meters grading 1.27 g/t Au (BRTR11-057). See Calibre's New Release dated November 20th 2014 for details of the trenching results. Reconnaissance drilling intersected oxidized, sheared and sericitized granite with mineralization consisting of variable amounts of disseminated pyrite, sphalerite, galena and chalcopyrite with minor pyrrhotite and magnetite. 2015 exploration program: recent exploration on the B2Gold Joint Venture has included sampling on two zones (El Gallo and Carpato 1) in the Santo Tomas District located 20 kilometers to the east of Minnesota. Previous sampling at Santo Tomas has shown anomalous precious and base metal values. Rock samples at the El Gallo Zone include mineralization consists of thin irregular veins averaging from 5 to 15 centimetres wide and stockworks with veinlets of quartz and oxidized sulphides. Strong hematitic and limonitic oxidation is present in the zone that is characterized also by the strong sericitic and argillic alteration. In January 2015, a 50 x 100 m soil grid covering the mining workings was started. A total of 108 auger samples were collected and have been sent to the lab with results pending. Recent rock sampling at El Gallo has returned results from 0.2 to 3.7 g/t Au (12 samples) from highly oxidized quartz stock work zones in volcanic rocks. At the Carpato 1 Zone field work has outlined 370 x 510 m zone of alteration and mineralization observed in the center of the circular structure. It consists of thin massive bands of completely oxidized magnetite that are accompanied of thin banded veins and veinlets of granular quartz and magnetite sometimes with specularite, tremolite and possibly sphalerite and scarce veinlets of oxidized sulphides. The host rock is the porphyritic andesite with strong argillic and minor chloritic alteration; one fresher fragment looked like a crowed crystal intrusive with strong magnetite in the matrix and alteration of chlorite and epidote. Some fragments also have brecciated texture with strong magnetite in the matrix. To the south of this area were found some float fragments of quartz - tourmaline breccia that have not as yet been found in situ.

Calibre Mining Corp. Commences Drilling on the 2015 Phase II on the Eastern Borosi Gold-Silver Project

Calibre Mining Corp. announced that drilling has commenced on the 2015 Phase II drilling program on the Eastern Borosi gold-silver project (the Project) which is being financed under an option agreement with IAMGOLD Corporation (IAMGOLD). The 2015 Phase II Drilling program approved by partner IAMGOLD has begun and will consist of a minimum 5,500 metres of drilling with a budget of $1.5 million. Drilling will continue to test down plunge extensions to gold mineralized zones found in 2014 and include continued testing for new targets along previously undrilled veins within a portion of the potential tens of kilometres of vein structures on the Project. The first new target to be drill tested in 2015 is the La Sorpresa gold-silver vein system located seven kilometres north of the California zone where previous surface select rock sampling has outlined high grade gold and silver mineralization including: 14.2 g/t Au and 274 g/t Au, 42.46 g/t Au and 340 g/t Ag and two rock grab samples that assayed 2,457 g/t Ag and 1,387 g/t Ag. Mapping and prospecting by Calibre in the La Sorpresa gold-silver target area has identified up to 5 vein systems with a cumulative strike length of 5.8 km. The 2014 Drilling program was successful in identifying high grade zones on each of the structures tested including the adjacent Guapinol and Vancouver gold-silver vein systems, California Vein, Blag Vein, and the Riscos de Oro extension. Eastern Borosi Project - 2015 Drill Program The approved 2015 Drilling program has started and will consist of a minimum 5,500 metres of drilling with a budget of $1.5 million. The majority of drilling will begin the process of delineating the 2014 discoveries by testing their down plunge extensions starting with the high-grade sections of the Guapinol and Vancouver veins. Further drilling will continue to be directed at step out drill holes on the currently defined vein systems. Additional drilling will also be completed in first quarter of 2015 on areas which were not tested in 2014 notably the La Sorpresa gold-silver zone located seven kilometres north of the California target. Mapping and prospecting by Calibre in the La Sorpresa area identified up to 5 vein systems with a cumulative strike length of 5.8 km; rock sampling returned up to 42.46 g/t Au and 2457 g/t Ag. At the La Sorpresa gold-silver target quartz veins have returned some of the grade surface gold and silver values to date from the Eastern Borosi Project. Results from soil samples defined the vein trends between low hills with quartz float material and through areas of low topographic relief. Several significant gold-silver rich rock samples have been returned from the La Sorpresa prospect including B13R3072 (14.2 g/t Au and 274 g/t Ag) that was collected from selected mineralized material in some artisanal workings that can be traced for over 400 m. Sample B12R1057, a grab sample collected from a sub-parallel vein system further to the west, returned 42.46 g/t Au and 340 g/t Ag from artisanal workings exposed over a 200 m strike length. Of particular interest are samples B13R3081 and B13R3082 that contained 2457 g/t Ag and 1387 g/t Ag respectively. These subcrop rock samples were collected from a low northeast-southwest oriented hill that has no evidence of artisanal mining.

Calibre Mining Announces Additional Drilling Results from the Eastern Borosi Gold-Silver Project, Nicaragua

Calibre Mining Corp. released the final assay results for the 2014 Phase I drilling program on the Eastern Borosi gold-silver project which is being financed under an option agreement with IAMGOLD Corporation. During 2014, Partners IAMGOLD and Calibre Mining completed 40 drill holes for a total of 5,505.98 metres which tested 5 gold-silver vein systems over a combined strike length of 3.0 km. The 2015 Phase II Drilling program has been approved by partner IAMGOLD and will consist of a minimum 5500 metres of drilling with a budget of $1.5 million. Drilling is expected to begin in first quarter of 2015 and will continue to test down plunge extensions to mineralized shoots found in 2014 and include continued testing for new shoots along previously undrilled veins within a portion of the potential tens of kilometres of vein structures on the Project. New high grade results from Guapinol gold-silver vein system include 5.07 metres grading 13.44 g/t Au and 14.49 g/t Ag, 2.76 metres grading 26.48 g/t Au and 24.19 g/t Ag and 1.9 metres grading 14.49 g/t Au and 8.88 g/t Ag. Step-out drilling at the Riscos de Oro Extension located 500 metres along trend from the Riscos de Oro gold-silver deposit intersected 1.6 metres grading 4.42 g/t Au and 402.3 g/t Ag and 1.04 metres grading 2.35 g/t Au and 77.2 g/t Ag. New results from Vancouver gold-silver vein system include 0.65 metres grading 10.80 g/t Au and 5.60 g/t Ag. Drilling has been successful in extending the high grade gold/silver mineralization in both the Guapinol and Vancouver gold-silver vein systems a further 50 metres down dip to a vertical depth of 200 metres and confirms the continuity of the previously defined high grade portions of these vein systems. The Guapinol and Vancouver gold-silver vein systems have been traced by drilling along trend for 620 metres and 420 metres respectively and both systems are open to depth and along strike. The 2014 Drilling program was successful in identifying high grade zones on each of the structures tested including the adjacent Guapinol and Vancouver gold-silver vein systems, California Vein, Blag Vein, and the Riscos de Oro extension.

 

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