Calibre Receives Environmental Approval for Development and Operation of the High-Grade Eastern Borosi Gold Project, and Achieves Zero Scope-2 CO2e Emissions in Nicaragua
October 28 2022 - 6:30AM
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF)
(“Calibre” or the “Company”) is pleased to announce that the
Company has been granted the key environmental permits for the
development and production of the open pit and underground mines
within the Eastern Borosi Project (“EBP”) from the corresponding
Nicaraguan authorities.
The Company is also pleased to announce that it
has signed a two-year contract with CEPAM (Comercializadora de
Energía para América), ensuring that 100% of the power purchased
for the Nicaraguan operations is certified clean energy. The
agreement eliminates all of Calibre’s Scope 2 (purchased
electricity) carbon emissions in Nicaragua, representing
approximately 30% of our total emissions (CO2e) within the
country.
Calibre is advancing the high-grade EBP open pit
and underground satellite deposits expected to be in production
during 2023 feeding into the Company’s Libertad processing
facility. EBP represents Calibre’s third major environmental mine
development approval within three years, demonstrating the
Company’s unyielding commitment to stakeholder engagement and
transparent communications within a clearly defined mining
regulatory environment. EBP is a large 176 km2 land package with
numerous low sulphidation gold-silver vein targets and strong
potential for discovery of new zones and expanded resources.
Darren Hall, President and Chief
Executive Officer of Calibre, stated: “Approval of the EBP
permits mark another significant milestone in the Company’s efforts
to organically grow gold production. The permits were obtained
three months ahead of schedule thanks to a positive community
engagement process and successful public consultation. This success
will allow Calibre to develop EBP and to contribute to the
improvement of the quality of life of host communities in the
Atlantic Region of Nicaragua. With open pit reserves at EBP grading
6.8 g/t Au in combination with the high grade 6.5 g/t Au reserves
at Pavon Central, we remain on track for grade-driven production
increase in 2023.”
“By purchasing clean energy rather than
non-renewable power, as of 2022, Calibre will have zero Scope 2
CO2e emissions in Nicaragua. This is a material achievement of our
sustainability strategy, through which we seek to join efforts in
response to global challenges such as climate change.”
“Additionally, the Company received
environmental approval to begin drilling on the La Fortuna
concession located approximately 50 kilometres southwest of the
Libertad mill facility. La Fortuna represents an exciting undrilled
epithermal gold opportunity as confirmed by field work completed
over the past 12 months. A drill has been mobilized to La Fortuna
with a first pass program to begin early November. Additionally,
Calibre was recently granted three new mineral concessions and has
begun reconnaissance stage exploration work.”
In its ongoing concession management program,
since 2020, Calibre has submitted 44 concession applications in
Nicaragua. Of these, 27 concessions have been granted, 14 continue
in the consultation process and, in June 2022, the Company elected
to desist with its applications for two full concessions and part
of a third.
ON BEHALF OF THE BOARD
“Darren Hall”
Darren Hall, President & Chief Executive
Officer
For further information, please contact:
Ryan KingSenior Vice President, Corporate
Development & Investor RelationsT: 604.628.1010E:
calibre@calibremining.comW: www.calibremining.com
About Calibre Mining
Corp.Calibre 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, no
debt, 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 InformationThis 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
such as potential sanctions implemented as a result of the United
States Executive Order 13851 dated October 24, 2022.
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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