Calibre Mining (CXB.TO) is in the middle of an extensive drill program which is aiming to update and upgrade the existing resources at and around the Libertad mine in Nicaragua. The company recently released assay results from the Volcan area, which is just about five kilometers from the Libertad mill.
The drill program has now confirmed the continuity of gold mineralization along a 1.5 kilometer strike length while confirming gold mineralization to a depth of 100-250 meters while the vein system itself appears to remain open along strike and at depth. Some of the highlights of the recent drill program are for instance the 4.9 meters of 15.6 g/t gold followed by 3.4 meters containing 7.88 g/t gold just 16 meters below the first interval. But other holes also confirm the high-grade nature of the Volcan veins with for instance 9.2 meters containing 4.13 g/t gold and 1.8 meters containing 8.75 g/t gold.
Granted, these grades aren’t exceptionally high but given the close proximity to surface and an existing mill, Volcan is shaping up to be an interesting satellite zone to the main gold deposits that are feeding the Libertad mill.
Disclosure: The author currently has no position in Calibre Mining. Please read our disclaimer.
