Calibre Mining Corp. and B2Gold and have begun the second phase of exploration of the Primavera gold and copper mine.
In a press release, Calibre explained that this phase of exploration has an available budget $441,000, and that they will focus on three areas that show a potential of up to 1.48 grams of gold per ton.
Calibre will act as the project operator, via a purchase option agreement with B2Gold, which could leave them with 51% of concessions in the Borosi area subject to financing $8.32 million worth of costs by June 2014.
The company B2Gold Corp. could acquire up to 65% of the gold and copper mining project NEN.
The gold and copper mining Project NEN, currently property of Canadian Calibre Mining Corp, is located on the North Atlantic side of Nicaragua, and covers 70,976 hectares.
B2Gold Corp executed a letter of intent, through which it could acquire 51% of the project by making an investment of $7 million on exploration and other projects before 2012 and an additional 14% in a selected area of the project upon completion of the preliminary feasibility studies.
Calibre Mining Corp. executed an option to purchase 100% of a copper and gold mine from Yamana Gold Inc. in Nicaragua.
Calibre announced the purchase of 70,976 hectares located in the North Atlantic Autonomous Region of Nicaragua, an area that covers the historic Mining Triangle area, covering the municipalities of Siuna, Bonanza and Rosita. According to the press release from the company, the Mining Triangle is one of the most productive mining areas in Central America.