Previous results led to the declaration of an initial open pit Mineral Resource Estimate in September of 2023.
These new results support advancing toward a mining decision in mid-2024 with permitting ongoing.
Highlights from 2023 Volcan drilling include: 2.05 g/t Au over 5.9 metres Estimated True Width ('ETW') including 3.48 g/t Au over 1.6 metres ETW in Hole VN-23-170; 1.87 g/t Au over 12.7 metres ETW including 3.21 g/t Au over 3.6 metres ETW in
Note: Estimated True Widths for reported vein intercepts are based on 3D models of the individual veins. Estimates are determined in cross-section by measuring the modelled vein thickness perpendicular to the vein margins and through the midpoint of the drill hole intercept. Percentage based differences between individual ETWs and down-hole interval lengths will vary between drill holes depending on drill hole inclination, variations in vein strike and dip, and overall geometries of the different vein systems.
Calibre has responsibly demonstrated the value of our hub and spoke operating strategy, with permitting ongoing and Volcan's proximity to the Libertad mill, we expect the deposit to contribute to the mine plan in the second half of 2024. This reinforces our peer leading 'drill to mill' time frame with less than one year separating our initial resource declaration in September of 2023 and anticipated production.
Calibre remains on schedule with construction at the
Quality Assurance/Quality Control
Calibre maintains a Quality Assurance/Quality Control ('QA/QC') program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of certified reference standards and blanks, and duplicate check assays. Drill core is halved and shipped in sealed bags to ALS in
About Calibre
Calibre is a Canadian-listed,
Contact:
Tel: 604.628.1012
Email: calibre@calibremining.com
Web: www.calibremining.com
Cautionary Note Regarding Forward Looking Information
This news release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are identified by words such as 'expect', 'plan', 'anticipate', 'project', 'target', 'potential', 'schedule', 'forecast', 'budget', 'estimate', 'intend' or 'believe' and similar expressions or their negative connotations, or that events or conditions 'will', 'would', 'may', 'could', 'should' or 'might' occur. Forward-looking statements in this news release include, but are not limited to: the Company's expectations toward higher grades mined and processed going forward; statements relating to the Company's 2023 priority resource expansion opportunities; the Company's metal price and cut-off grade assumptions. Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond Calibre's control. For a listing of risk factors applicable to the Company, please refer to Calibre's annual information form ('AIF') for the year ended
Calibre's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. Such assumptions include but are not limited to: the Company being able to mine and process higher grades and keep production costs relatively flat going forward; there not being an increase in production costs as a result of any supply chain issues or ongoing COVID-19 restrictions; there being no adverse drop in metal price or cut-off grade at the Company's
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