Calibre & B2Gold Trenching Returns 14.8 Metres Grading 1.85 g/t Gold at the Minnesota Gold Project, Borosi Concessions, Nicar...
May 07 2014 - 9:00AM
Marketwired
Calibre and B2Gold Trenching Returns 14.8 Metres Grading 1.85 g/t
Gold at the Minnesota Gold Project, Borosi Concessions, Nicaragua
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2014) -
Calibre Mining Corp. (TSX-VENTURE:CXB) (the "Company" or "Calibre")
is pleased to announce results from follow-up trenching and
sampling at the Minnesota gold project within the B2Gold Corp.
("B2Gold") (TSX:BTO)(NYSEMKT:BTG) 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 over three years. The 2014
exploration program on the B2Gold joint venture is budgeted at $1.2
million.
Highlights
- Trenching at the Minnesota gold project has intersected zones
of continuous gold mineralization including: 14.80 metres grading
1.85 g/t Au (MINTR14-006) and 8.5 metres grading 1.22 g/t Au
(MINTR14-001)
B2Gold has completed a series of trenches as well as gridded
auger drilling designed to further define and extend the defined
gold mineralization at Minnesota. The Minnesota target area
consists of intrusive hosted veinlet's within a structurally
prepared area with widespread alteration. The target is defined by
a strong 1.75 km x 1.25 km gold in soil anomaly.
Table 1 -
Trenching Results - Minnesota Gold Project
Trench ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
MINTR14-001 |
0.00 |
14.55 |
14.55* |
0.87 |
including |
1.50 |
10.00 |
8.50 |
1.22 |
MINTR14-002 |
0.00 |
15.00 |
15.00* |
0.41 |
including |
4.60 |
15.00 |
10.40 |
0.47 |
and |
14.00 |
15.00 |
1.00 |
1.07 |
MINTR14-003 |
0.00 |
6.00 |
6.00 |
0.21 |
MINTR14-004 |
NSR |
MINTR14-005** |
2.00 |
3.50 |
1.50 |
0.77 |
MINTR14-006 |
0.00 |
14.80 |
14.80* |
1.85 |
5.00 |
14.80 |
9.80 |
2.42 |
Notes; * Represents entire length of trench
- open ended in both directions |
Length weighted averages from uncut
assays. |
**Trench MINTR14-005 results have been
received for 4.7 m of a total length of 14.9 m |
Trenches MINTR14-001 to MINTR14-005 are located 100 metres
southwest of the previously reported channel samples which included
the following intercepts: MINTR13-001; 7.5m grading 3.93 g/t Au
(open), MINTR13-002; 9.2m grading 4.17 g/t Au (open), and
MINTR13-003; 7.0m grading 1.45 g/t Au (open).
Trench MINTR14-006 is located 500 metres northeast of trenches
MINTR14-001 to MINTR14-005 in the extension area currently being
tested by auger drilling.
New results have also been received for a series of gridded
auger holes which have been completed within and to the northeast
of the existing surface anomaly. This work is designed to further
define the nature and extent of the gold mineralization. Results
have extended the gold mineralization a further 300 metres to the
northeast. The new auger anomaly is approximately 125 metres wide
with gold assays consistently above 100ppb Au. Trench MINTR14-006
is located within the extension anomaly and includes a composite of
9.80m grading 2.42 g/t Au. A total of 511 rock grid samples have
been collected to date using a hand auger to drill down to the
rock-saprolite boundary at depths down to 8.25 metres. Overall the
anomalous trench and auger rock samples define an area of pervasive
gold mineralization approximately 700 metres long and up to 125
metres wide with the target being open for expansion.
Updated maps detailing the result of the current exploration
program at the Minnesota Gold/Copper Project will be posted on the
Company's web site at www.calibremining.com.
Quality assurance and quality control procedures include the
systematic insertion of blanks, standards and duplicates into the
rock and soil sample strings. Samples are placed in sealed bags and
shipped directly to Acme Labs in Managua, Nicaragua for sample
preparation and then to Acme Labs in Vancouver, Canada for gold
fire assay and ICP-MS multi element analyses. The technical content
in this news release was read and approved by Gregory Smith, P.Geo,
President and CEO of the Company who is the Qualified Person as
defined by NI 43-101.
About Calibre Mining Corp.
Calibre controls a 100% interest in 429 km2 of mineral
concessions. Additionally, Calibre has joint venture exploration
programs underway with B2Gold Corp. on 322.3 km2 of concessions
which includes the Primavera gold-copper porphyry discovery, and
has optioned the 33.6 km2 Rosita gold-copper-silver project to
Alder Resources Ltd. Major shareholders of Calibre include gold
producer B2Gold Corp.
Calibre Mining Corp.
Greg Smith, P.Geo., President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Calibre Mining Corp.Ryan King604
628-1012www.calibremining.com
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