(Kitco News) - Calibre Mining (TSX: CXB) announced today that the company has been granted the key environmental permit for development and production of the Pavon Central open-pit gold mine in Nicaragua.
In its statement, Calibre said that the approval of Pavon Central marks a significant milestone in the company's efforts to organically grow production, utilizing a portion of the installed excess capacity at its Libertad mill.
The company added that during 2021, it initiated mining at Pavon Norte, the first of three known gold deposits hosting mineral resources in the district.
Since the beginning of 2021, Calibre has also continued to progress development at Pavon Central. With road construction to the project underway, Calibre is well-positioned to commence production from Pavon Central in the first quarter of 2023, the company said.
According to a press-release, combined 2021 end-of-year mineral reserves for the Pavon Norte and Central open-pit mines total 165,000 ounces at an average gold grade of 5.07 g/t.
Pavon Central hosts an average reserve grade of 6.49 g/t gold, notably higher than the average 3.28 g/t gold grade at Pavon Norte and is expected to contribute to the company's 2023 and 2024 production growth.
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Importantly, Calibre pointed out that it has identified the potential for resource expansion along strike and at depth at the Pavon vein system and at new vein targets within the overall 32km2 land package, where two rigs are currently operating.
CEO Darren Hall commented, "We are excited to introduce Pavon Central into the development profile fueling grade driven production growth in 2023 and 2024 from the 6.49 g/t gold reserve. We will continue to work closely with regulatory authorities, local communities, and all stakeholders to ensure safe and responsible development and mining at Pavon Central."
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua.
