Calibre Mining Reports Third Quarter Gold Production; Remains On Track to Deliver 2022 Production Guidance; Continues to Intercept High-Grade Drill Results
October 12 2022 - 06:00AM
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF)
(“Calibre” or the “Company”) is pleased to announce operating
results for the three and nine months ended September 30, 2022.
Q3 and Year to Date (“YTD”) 2022
Production Overview
- Consolidated quarterly gold
production of 49,081 ounces, and gold sales of 49,260 ounces;
- 10% increase in gold production
compared to Q3 2021 (44,579 ounces);
- Nicaragua gold production of 38,928
ounces and Nevada gold production of 10,153 ounces;
- Nicaraguan Q3 gold pours were
negatively impacted due to an unplanned outage at the carbon plant,
which is now back up and running;
- Consolidated YTD gold production of
160,704 ounces, gold sales of 161,530 ounces, on track to deliver
full year guidance of 220,000 - 235,000 ounces;
- Pavon Central Open pit mining
permit approved Q2, 2022, on track for production Q1, 2023;
- Considerable progress made at
Eastern Borosi Project (“EBP”) including:
- Recently completed the public
consultation process with mining permits expected during Q4,
2022;
- Advanced early road works and site
preparations underway
Q3 2022 Highlights
- Continuous expansion of the
high-grade gold discovery along strike at Panteon North within the
Limon Complex (see news release dated September 7, 2022)
- 52.59 g/t Au over 3.8 m
Estimated True Width (“ETW”); 43.09 g/t Au over 3.3 m
ETW;
- 35.18 g/t Au over 2.8 m
ETW; 26.02 g/t Au over 8.1 m ETW;
- Consistent high-grade
mineralization demonstrated over a strike length of 400 m coupled
with VTEM indicates a positive impact to year-end mineral resource
statement.
- Pan Mine drill results demonstrate
strong expansion potential (see news release dated August 17, 2022)
- 3.35 g/t Au over 18.3 m;
0.82 g/t Au over 10.7 m; 0.80 g/t Au over 47.2 m;
- 1.96 g/t Au over 10.7 m;
0.96 g/t Au over 10.7 m, and
- Excellent opportunities for
growth and, in some cases shallow, higher-grade zones are open for
expansion.
Darren Hall, President & Chief
Executive Officer of Calibre, stated: “Gold poured during
the quarter was negatively impacted by the carbon plant outage at
Libertad however with increased in progress inventory and higher
grades we anticipate a strong Q4 and remain on track to meet our
2022 production guidance of 220,000 – 235,000 ounces.
During the quarter we continued to progress
development at Pavon Central and Eastern Borosi, preparing to start
both satellite sites for production during 2023, setting ourselves
up for a grade-driven production increase.
We continue to see exciting results from our
exploration program across all assets and in particular at Panteon
North at the Limon complex with continued high-grade intercepts
outside of our 2021 resource estimates.
During the quarter we published our 2021 ESG
Sustainability Report demonstrating continued progress withing all
aspects. Calibre remains committed to delivering positive and
sustainable benefits to all stakeholders.”
Q3 and YTD 2022 Financial Results and
Conference Call Details
Financial results will be released on Wednesday,
November 2, 2022, and management will be hosting a conference call
to discuss the results and outlook in more detail.
Date: |
Wednesday, November 2, 2022 |
Time: |
9:00 a.m. (ET) |
Webcast Link: |
https://edge.media-server.com/mmc/p/b6oxp5rp |
|
|
Instructions for obtaining conference call
dial-in numbers:
- All parties must register at the link below to participate in
the Calibre Mining, Q3 conference call.
- Register by clicking
https://register.vevent.com/register/BId2373aa1f3f04d759a4eaf20463df234
- Once registered you will receive
the dial-in numbers and PIN number for input at the time of the
call.
The live webcast and registration link can be
accessed here and at www.calibremining.com under the Events and
Media section under the Investors tab. The live audio webcast will
be archived and made available for replay at www.calibremining.com.
Presentation slides that will accompany the conference call will be
made available in the Investors section of the Calibre website
under Presentations prior to the conference call.
Qualified Person
Darren Hall, MAusIMM, President and Chief
Executive Officer, of Calibre Mining Corp. is a “qualified person”
as set out under NI 43-101 and has reviewed and approved the
scientific and technical information in this press release.
ON BEHALF OF THE BOARD
“Darren Hall”
Darren Hall, President, and Chief Executive
Officer
For further information, please
contact:
Ryan KingSenior Vice President, Corporate
Development & IRT: 604.628.1010E: calibre@calibremining.comW:
www.calibremining.com
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed, Americas
focused, growing mid-tier gold producer with a strong pipeline of
development and exploration opportunities across Nevada and
Washington in the USA, and Nicaragua. Calibre is focused on
delivering sustainable value for shareholders, local communities
and all stakeholders through responsible operations and a
disciplined approach to growth. With a strong balance sheet, a
proven management team, strong operating cash flow, accretive
development projects and district-scale exploration opportunities
Calibre will unlock significant value.
Cautionary Note Regarding Forward
Looking Information
This news release includes certain
“forward-looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of
applicable Canadian securities legislation. All statements in this
news release that address events or developments that we expect to
occur in the future are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
identified by words such as "expect", "plan", "anticipate",
"project", "target", "potential", "schedule", "forecast", "budget",
"estimate", "intend" or "believe" and similar expressions or their
negative connotations, or that events or conditions "will",
"would", "may", "could", "should" or "might" occur. Forward-looking
statements necessarily involve assumptions, risks, and
uncertainties, certain of which are beyond Calibre’s control. For a
listing of risk factors applicable to the Company, please refer to
Calibre’s annual information form for the year ended December 31,
2021, available on www.sedar.com. This list is not exhaustive of
the factors that may affect Calibre’s forward-looking
statements.
Calibre’s forward-looking statements are based
on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information
available to management at such time. Calibre does not assume any
obligation to update forward-looking statements if circumstances or
management’s beliefs, expectations or opinions should change other
than as required by applicable securities laws. There can be no
assurance that forward-looking statements will prove to be
accurate, and actual results, performance or achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements. Accordingly, undue reliance should not
be placed on forward-looking statements.
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