For a junior exploration company with shares trading at just 12¢, Calibre Mining (TSXV: CXB; US-OTC: CXBMF) is making pretty decent headway at its projects in Nicaragua.
The junior released drill results this month from two separate projects, the first from its 100%-owned Montes de Oro project in the Central American country’s Siuna district, and the second from its Eastern Borosi project, which is being financed under a 2014 option agreement with IamGold (TSX: IMG; NYSE: IAG).
At Montes de Oro – a gold-copper-silver-zinc discovery – assay results from four drill holes of its planned 11-hole, 2,500-metre drill program included 12.3 metres grading 2.42 g/t Au in hole MD15-007; 2.57 metres grading 5.71 g/t in MD15-003; and 1.72 metres grading 8.20 g/t in drill hole MD15-002.
The company believes that the higher gold grades at Montes de Oro are closely related to an increase in overall sulphides and vein density, and that these zones are reflected in the induced polarization (IP) geophysical anomaly measuring 300 metres by 500 metres, which it outlined in the first quarter.
Read the complete article at NorthernMiner.com/news/calibre-mining