Calibre ups gold reserves 202% in Nicaragua
(Kitco News) - Today, Calibre Mining (TSX: CXB; OTCQX: CXBMF) announced the results of the company's updated Mineral Reserves and Mineral Resources at its El Limon and La Libertad mining complexes in Nicaragua as of December 31, 2020.
The company said it had achieved a 202% increase in Mineral Reserves to 864,000 ounces since year-end 2019 and after 2020 depletion. This is the largest Mineral Reserve since 2010 with the highest grade on record, 4.49 g/t Au.
Darren Hall, President and CEO, stated, "Our investment in exploration in 2020 has resulted in the largest Mineral Reserve since 2010 and the highest reserve grade of 4.49 g/t Au on record which provides an excellent foundation for future growth. I am very pleased with how the team has integrated our assets utilizing our "Hub and Spoke' operating model and positively exceeded production and cost guidance in our first full year of operation."
Calibre Mining is a Canadian-listed gold mining and exploration company with two 100%-owned operating gold mines in Nicaragua. Since the acquisition of the Limon, Libertad gold mines and Pavon gold project, Calibre has proceeded to integrate its operations into a "Hub-and-Spoke" operating philosophy, whereby the company can take advantage of reliable infrastructure, favorable transportation costs, and multiple high-grade mill feed sources that can be processed at either Limon or Libertad, which have a combined 2.7 million tonnes of annual mill throughput capacity.