Calibre Mining reports highest quarterly production since 2016
(Kitco News) - Calibre Mining, (TSX: CXB; OTCQX: CXBMF), a Canadian-listed gold mining and exploration company with two 100%-owned operating gold mines in Nicaragua, reported today that the company produced 45,452 ounces of gold in Q1 2021, the highest quarterly production since Q3 2016.
The company processed 419,340 tonnes of ore at a grade of 3.54 g/t and recovery of 91.3%. The Limon mill processed 124,149 tonnes at a grade of 4.42 g/t and a recovery of 89.3%, producing 16,337 ounces. The Libertad mill processed 295,191 tonnes at a grade of 3.17 g/t and a recovery of 92.4%, producing 29,115 ounces.
The company said that production includes the first ore delivery from the Pavon Norte mine to the Libertad mill that demonstrates Calibre's ability to advance new satellite deposits: 'permit to plant' in less than 18 months.
Calibre noted more than 200% increase in the company's Mineral Reserves to 864,000 ounces since year-end 2019, which is the largest Mineral Reserve since 2010 with the highest grade on record, 4.49 g/t Au.
The company added that its 2021 production and cost guidance remain on track.