Calibre Mining (TSX: CXB; US-OTC: CXBMF) has reported the first resource estimate for the Panteon deposit at its Limon mine in Nicaragua.
The high-grade vein is about 150 metres from the company’s producing Santa Pancha underground mine.
Panteon has 90,000 indicated tonnes grading 9.88 grams gold per tonne for 29,000 contained oz. gold and another 303,000 inferred tonnes averaging 6.79 grams gold per tonne for 66,000 ounces.
The resource estimate was based on 122 diamond drill holes (72,672 metres), including 12 holes (12,265 metres) Calibre drilled in late 2019 and early 2020.
The mineral resource extends to a vertical depth of about 230 metres from surface, and the company believes there is potential for the deposit to remain open at depth. That’s because the deepest hole – a historic hole drilled by Noranda Mines, a previous operator – intersected 3.25 grams gold over 2 metres at a down-hole depth starting from 422 metres.
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