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VANCOUVER, British Columbia, Nov. 12, 2019 (GLOBE NEWSWIRE) — Calibre Mining Corp. (TSX: CXB) (the “Company” or “Calibre”) is admiring to abode 2018 and 2019 analysis conduct and ambition curve after-effects from the La Libertad abundance and surrounding concessions. B2Gold Corp. (“B2Gold”) was acknowledged in anecdotic several new near-mine gold trends, as able-bodied as several acute bounded targets over its 650km2 commune calibration concessions (see figures).
Calibre is currently processing ore from the Jabali underground mine, the Jabali Antenna open-pit, the San Juan open-pit and spent ore at the La Libertad comminute at an anniversary throughput amount of 1.6Mtpa.
Highlights of Adeptness Amplification Conduct Completed by B2Gold (2018 – 2019)
Highlights of Ambition Curve Conduct Completed by B2Gold (2015 – 2019)
Russell Ball, Chief Executive Officer of Calibre stated: “The La Libertad commune has produced over 1.7 actor ounces of gold and we see a cardinal of near-mine and bounded opportunities to accomplish new discoveries and aggrandize accepted assets and appropriately extend the abundance activity at La Libertad. We afresh commenced conduct at our Buenos Aires and Amalia targets.”
Calibre’s approaching conduct affairs of about 25,000 metres for Q4 2019 and 2020 will ambition accepted assets with amplification potential, as able-bodied as undrilled, antecedence targets articular by B2Gold. In addition, Calibre will conduct circumstantial ambition curve analysis programs at the Amalia, Esmeralda, Volcan, Cosmatillo, Morales and Santa Julia targets for a absolute estimated amount of US$6.25 million. The ambition curve programs will accommodate geological mapping, apparent geochemical sampling (rock and soil) and trenching.
Calibre has additionally approaching a 15,000 accent assignment affairs at its Pavon activity for a absolute estimated amount of US$3.75 million. Details of the conduct affairs will be included with the adapted Pavon NI 43-101 account release, due afterwards this quarter.
Drilling completed by B2Gold in 2018-2019 focused on infill and amplification conduct at the Jabali Antenna and Chamarro zones, as able-bodied as infill and step-out conduct at the Rosario and San Antonio targets, with a absolute of 16,868 metres accomplished in 132 holes.
Located 500 metres to the southeast of the Rosario resource, the avant-garde date Cosmatillo attitude trend was additionally accomplished in 2018 with a absolute of 1,706 metres completed in 14 holes.
A mix of appraisal and step-out conduct was additionally completed at the Mojon East, Quintana and Tope Arctic targets with a absolute of 1,269 metres completed in eight holes.
During 2018 and 2019, B2Gold conducted abundant ambition curve programs over its near-mine concessions with a absolute of 5,452 clay samples and 271 bedrock samples collected, as able-bodied as 449 approach and trenches completed for a absolute of 6,106 metres.
Priority targets which accustomed assignment included the Buenos Aires district, Esmeralda trend and the bounded Amalia target. A absolute of 2,699 clay samples, 126 bedrock samples, and 2,054 metres of approach and arroyo sampling were completed at the Buenos Aires district. At the near- abundance Esmeralda target, a absolute of 1,170 metres of approach and arroyo sampling was completed. At the bounded Amalia target, a absolute of 1,110 clay samples, 254 bedrock samples, and 499 metres of approach and arroyo sampling has been completed back 2014.
Previous Conduct on Accepted La Libertad Resources
Located about nine kilometres to the east of the celebrated Mojon open-pit, the Jabali Antenna area is an east-west striking, arctic dipping (-75°) vein, which comprises the 1.5-kilometre-long allocation of the greater Jabali attitude system. A absolute of 4,978 metres of infill conduct was completed in 36 holes in 2018. The area has a accepted adumbrated adeptness of 457 kt, allocation 4.90 g/t Au, absolute 72,000 ounces of gold and a accepted accepted open-pit adeptness of 1.14 Mt, allocation 7.81 g/t Au, absolute 285,000 ounces of gold (see Calibre NI 43-101 Abstruse Abode on La Libertad anachronous August 30, 2019 filed on Calibre’s contour on SEDAR).
The Jabali Antenna area has been accomplished to a abyss of 250 metres and shows the abeyant for amplification at abyss aloft the 300-metre-wide arctic ore-shoot, 75-metre-wide axial ore-shoot and beneath the shallowly coast ore-shoot amid at the western end of the system.
Located four kilometres to the northeast alternating bang of the celebrated Mojon open-pit, the Chamorro ambition is characterized by aerial grade, carefully spaced, sub-parallel northeast arresting veins dipping at 80° to the southeast. A absolute of 1,537 metres of infill conduct was completed in 11 holes in 2018. The area has a accepted accepted adeptness of 217 kt, allocation 1.56 g/t Au, absolute 11,000 ounces of gold (see Calibre NI 43-101 Abstruse Abode on La Libertad anachronous August 30, 2019 filed on Calibre’s contour on SEDAR).
Drilling at Chamarro has categorical a bank adeptness to a abyss of about 100 metres. The area shows the abeyant for amplification at abyss and in assorted directions.
Rosario is a bank adeptness amid two kilometres to the southwest alternating bang from the celebrated San Diego open-pit. It is characterized by a steeply dipping attitude at 80° to the southeast. A absolute of 6,067 metres of infill and step-out conduct was completed in 48 holes in 2018 and 2019. The area has a accepted accepted adeptness of 260 kt, allocation 2.08 g/t Au, absolute 17,000 ounces of gold (see Calibre NI 43-101 Abstruse Abode on La Libertad anachronous August 30, 2019 filed on Calibre’s contour on SEDAR).
The Rosario adeptness has been authentic to a abyss of 125 metres and shows abeyant for amplification at abyss aloft assorted 100-metre-wide ore-shoots.
Located about four kilometres to the southeast of the celebrated Tope/San Diego open-pit, San Antonio is characterized as a bank adeptness with a moderately dipping attitude coast 65-70° to the southeast. A absolute of 4,074 metres of infill and step-out conduct was completed in 35 holes in 2018 and 2019. The area has a accepted accepted adeptness of 374 kt, allocation 2.75 g/t Au, absolute 33,000 ounces of gold (see Calibre NI 43-101 Abstruse Abode on La Libertad anachronous August 30, 2019 filed on Calibre’s contour on SEDAR).
The San Antonio adeptness has been authentic by conduct to a abyss of 125 metres and shows abeyant for amplification at abyss aloft assorted 100-metre-wide ore-shoots.
Near Abundance and Bounded Targets at La Libertad With No Previous Drilling
The Buenos Aires/Nancite/Tranca commune is amid about bristles kilometres to the southwest of the Jabali vein. The commune contains multiple, sub-parallel, east-west and northeast aggressive veins authentic by awful aberrant gold ethics in bedrock and clay samples, as able-bodied as high-grade approach samples calm aloft outcrops. The authentic veins accept a absolute bang breadth of greater than 10 kilometres and are currently abstinent by drilling.
Located amid the celebrated Esmeralda and Santa Maria open-pits, the Esmeralda trend is fabricated up of assorted sub-parallel, northeast aggressive veins with a absolute bang breadth of greater than 1.2 kilometres. The structures accept been traced by high-grade gold in arroyo and approach sampling aloft outcrops.
Located about 30 kilometres to the northeast of the La Libertad mill, the high-grade Amalia attitude ambition consists of multiple, north-northeast aggressive veins currently authentic by awful aberrant gold in bedrock and clay samples, as able-bodied as awful aberrant gold in trenches. The authentic veins accept a absolute bang breadth of over bristles kilometres.
Gold Mineralization at La Libertad
Gold mineralization at La Libertad is archetypal of low-sulphidation, epithermal gold attitude systems. The mineralization is acerb structurally controlled with veins basic alternating above-mentioned accountability planes and application analytic openings which occurred during the time of emplacement. Evidence additionally exists for cogent post-mineral movement alternating localized structures in the anatomy of mineralized tectonic breccias.
Veins abide of alabaster white, bathetic textured quartz, with capricious amounts of chalcedonic, colloform, aigrette and vuggy quartz. Bladed pseudomorph quartz afterwards calcite has been empiric which indicates baking of the hydrothermal fluid. Pyrite is the ascendant sulphide occurring as disseminations and blebs up to 2%, with abject metal sulphides including sphalerite, galena, and chalcopyrite present at added targets such as Jabali. Low-grade gold mineralization can extend tens of metres into the host bedrock accompanying to abetting quartz ascendant axle veinlets. Moderate to able argillic and propylitic about-face haloes frequently abut the veins.
Current and accomplished bearing attitude trends ambit from 500 metres to over 4 kilometres in length, with widths alignment from beneath than one accent to greater than 15 metres. Ore shoots alternating the arch structures extend from 50 metres to greater than 300 metres horizontally, and from 50 metres to greater than 250 metres vertically.
To appearance a PDF of the tables and abstracts as referenced in this account release, amuse go to the afterward links:
Link 1 – abstracts plan, sections, etc.
Link 2 – conduct table 2018/2019
Link 3 – arroyo table 2015-2019
The authentic and abstruse abstracts absolute in this account absolution apropos to La Libertad has been advised and accustomed by Angela D. Johnson, P.Geo., a Qualified Person as authentic by NI 43-101.
ON BEHALF OF THE BOARD
Russell Ball, Chief Executive Officer
For added information, amuse contact:
Vice President, Corporate Development & IR
Calibre Mining Corp.
E: Media Media
Cautionary Note Apropos Forward Looking Advice
All statements in this account absolution that abode contest or developments that we apprehend to action in the approaching are advanced statements. Advanced statements are statements that are not absolute facts and are generally, although not always, articular by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and agnate expressions or their abrogating connotations, or that contest or altitude “will”, “would”, “may”, “could”, “should” or “might” occur. All such advanced statements are based on the opinions and estimates of administration as of the date such statements are made.
Forward-looking statements necessarily absorb assumptions, risks and uncertainties, assertive of which are aloft Calibre’s control, including risks associated with or accompanying to: the animation of metal prices; changes in tax laws; the dangers inherent in exploration, development and mining activities; the ambiguity of assets and adeptness estimates; amount or added estimates; absolute production, development affairs and costs differing materially from the Company’s expectations; the adeptness to access and advance any all-important permits, consents or authorizations appropriate for mining activities; the accepted advancing alternation in Nicaragua and the ramifications thereof; ecology regulations or hazards and acquiescence with circuitous regulations associated with mining activities; the availability of costs and debt activities, including abeyant restrictions imposed on Calibre’s operations as a aftereffect thereof and the adeptness to accomplish acceptable banknote flows; alien operations and the availability of able infrastructure; fluctuations in amount and availability of activity and added inputs all-important for mining operations; shortages or amount increases in all-important equipment, food and labour; the affirmation aloft contractors, third parties and collective adventure partners; the affirmation on key cadre and the adeptness to allure and absorb accomplished personnel; the accident of an uninsurable or uninsured loss; adverse altitude and acclimate conditions; action risk; antagonism with added mining companies; association abutment for Calibre’s operations, including risks accompanying to strikes and the awkward of such operations from time to time; conflicts with baby calibration miners; failures of advice systems or advice aegis threats; acquiescence with anti-corruption laws, and sanctions or added agnate measures. The account is not all-embracing of the factors that may affect Calibre’s advanced statements.
Calibre’s advanced statements are based on the applicative assumptions and factors administration considers reasonable as of the date hereof, based on the advice accessible to administration at such time. These assumptions and factors include, but are not bound to, assumptions and factors accompanying to Calibre’s adeptness to backpack on accepted and approaching operations, including: development and analysis activities; the timing, extent, continuance and bread-and-butter activity of such operations, including any mineral assets or affluence articular thereby; the accurateness and believability of estimates, projections, forecasts, studies and assessments; the availability and amount of inputs; the amount and bazaar for outputs, including gold; the appropriate cancellation of all-important approvals or permits; the adeptness to accommodated accepted and approaching obligations; the adeptness to access appropriate costs on reasonable agreement back required; the accepted and approaching social, bread-and-butter and political conditions; and added assumptions and factors about associated with the mining industry.
Calibre’s advanced statements are based on the opinions and estimates of administration and reflect their accepted expectations apropos approaching contest and operating achievement and allege alone as of the date hereof. Calibre does not accept any obligation to amend advanced statements if affairs or management’s beliefs, expectations or opinions should change added than as appropriate by applicative balance laws. There can be no affirmation that advanced statements will prove to be accurate, and absolute results, achievement or achievements could alter materially from those bidding in, or adumbrated by, these advanced statements. Accordingly, no affirmation can be accustomed that any contest advancing by the advanced statements will arise or occur, or if any of them do, what allowances or liabilities Calibre will acquire therefrom. For the affidavit set alternating above, disproportionate affirmation should not be placed on advanced statements.
Calibre Mining Best Practice
Calibre is committed to best convenance standards for all exploration, sampling and drilling. Conduct was completed by absolute conduct contractors. Analytical affection affirmation and affection ascendancy includes the analytical admittance of blanks, standards and duplicates. Samples are placed in closed accoutrements and alien anon to Bureau Veritas Lab in Managua, Nicaragua for sample alertness and again to Vancouver, Canada for gold blaze appraisal and ICP-MS multi aspect analyses.
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