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(Kitco News) - Calibre Mining (TSX: CXB) today announced record consolidated quarterly gold production of 65,750 ounces in Q1 2023, up 27% compared to Q1 2022 (51,898 ounces) and above budget at the end of the quarter.
In a press release, Calibre said its Q1 2023 gold production in Nicaragua amounted to 54,997 ounces (Q1 2022: 42,897 ounces) and in Nevada to 10,753 ounces (Q1 2022: 9,003 ounces), adding that the company is "well positioned" to deliver its 2023 production guidance of 250,000 – 275,000 ounces.
President and CEO Darren Hall commented, "I am very pleased with the teams’ first quarter performance, delivering a record 65,750 ounces. Being above budget at the end of the quarter, with Pavon Central ahead of schedule and Eastern Borosi on track for production in Q2 we are well positioned to deliver our full year production guidance of 250,000 – 275,000 ounces.
With numerous drill rigs turning across our entire asset portfolio, our exploration investment continues to yield exciting results as we expand the high-grade gold discovery at Panteon North and the VTEM Gold Corridor and make new discoveries at Pan where drilling indicates the strong potential for resource expansion.
2023 will be a transformational year, driven by an organic 20% increase in production, strong free cash flow, and significant exploration to expand recent high-grade gold discoveries not included in our multi-year, grade driven production increase strategy."
Calibre Mining 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.
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