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(Kitco News) - Calibre Mining (TSX: CXB) announced on Tuesday that mining commenced at its 100% owned, new high-grade Eastern Borosi open pit mine operation in Nicaragua.
The company’s Eastern Borosi gold-silver property is located in the northeastern Nicaraguan low-sulphidation, epithermal district that hosts numerous high-grade, gold-silver vein systems.
The vein systems hosting the current inferred resource of 4,418,000 tonnes at 4.9 g/t Au and 80 g/t Ag containing 700,500 Au ounces and 11,359,000 Ag ounces remain open to further expansion along with numerous undrilled targets.
President and CEO Darren Hall stated, “Mining from the Guapinol open pit at Eastern Borosi commenced on schedule and marks another significant milestone in Calibre’s efforts to deliver on expectations and organically grow gold production.
“With Eastern Borosi open pit reserves at Guapinol of 6.8 g/t gold, we remain on track to deliver consolidated production of 250,000 – 275,000 ounces in 2023, a 20% increase over 2022. After inclusion of this additional high-grade ore, over one million tonnes of surplus processing capacity remains at our Libertad mill, demonstrating the potential for additional future growth.”
Calibre also said that, as part of its 2023 exploration program, the company has two rigs drilling within the 176 km2 Eastern Borosi land package, which hosts numerous low sulphidation gold-silver vein deposits and targets and “strong potential” for discovery of new zones and expanded resources.
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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