The company intercepted 2810 g/t silver and 17.85 g/t gold over 0.95 metres within a larger interval of 8.53 metres grading 384.86 g/t silver and 4.23 g/t gold. These were highlighted by the highest grade gold and silver assays intercepted to date by Calibre on the Riscos de Oro epithermal gold-silver project.
"Our drill program at Riscos de Oro has confirmed and expanded high grade gold and silver low sulphidation epithermal mineralization to a depth of 200 metres below historic open pit and underground workings. An additional ore shoot of potentially similar dimensions containing high grade gold and silver has also been located 250 metres along strike from the primary workings" stated Robert Brown, President and CEO of Calibre. "As a company, we are very excited about the initial success we have had at Riscos and look forward to expanding our exploration work there shortly. This program has only tested a small strike extent of the mineralized vein system that has been identified to extend over 2 km on the Riscos concession and a further 4 km to the southwest onto adjacent concessions held by Calibre."
The concessions are subject to an option agreement, whereby B2Gold Corp. may earn an initial 51% interest by completing $7.7 million in exploration expenditures over a period of three years.
The find is a huge success for the company at one of its mines in north eastern Nicaragua.
During the process of defining different mineral zones for its Riscos de Oro project in Nicaragua, in one of the perforations Calibre Mining made it found a vein that will enable it to estimate how much gold and silver the mine could contain.
Calibre Mining and B2Gold Corp. will explore gold in the "Borosi" mining project.
Calibre reported that a $2.3 million work program and budget has been approved by B2Gold Corp at Borosi project in the Bonanza-Rosita-Siuna areas of northeast Nicaragua.
Calibre purchased the 71,000 hectare Borosi Gold-Copper project in July 2009; the company subsequently entered into a joint venture agreement with B2Gold to further explore and develop the project. Under the terms of the agreement, B2Gold may earn a 51% interest in the Borosi concessions by completing $7.5 million of exploration expenditures over a three year period.
Canadian mining corporation Condor Resources has been granted a 25 year exploration and mining concession in Nicaragua.
The 22.5 kilometer area is located in La Libertad – Santo Domingo, and adds to Condor’s 5 existing concessions in the country.
From Proactiveinvestors.com: “According to Condor, the Cerro Quiroz vein was discovered in 2003 by Canadian explorer Chesapeake Gold Corp (TSX-V: CKG) which defined a north-south trending quartz vein grading up to 17.8 grams per tonne gold over more than 1500 metres strike length”.
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