Calibre Mng - CXBMF STOCK NEWS

Calibre Mining (TSX: CXB; OTCQX: CXBMF) has announced significant discovery drill results from its expanded 100,000-metre program at the Valentine Gold Mine in Newfoundland & Labrador. New drilling at the Frank Zone has revealed shallow, broad zones of continuous mineralization, extending to surface with notable gold intercepts.

Key highlights include 3.08 g/t Au over 48.2 metres, 97.87 g/t Au over 3.9 metres, and 1.62 g/t Au over 44.6 metres. The Frank Zone mineralization has now been traced over one kilometer along strike and 500 metres deep, remaining open to the southwest and north.

The discovery is located one kilometre southwest of reported Mineral Resources and shows potential for another open pit. The Valentine Lake Shear Zone, a 32 km long structure, represents exploration potential within the broader 250 km² land package. The Valentine Gold Mine remains on schedule for first gold production in Q2 2024, targeting annual production of 450,000 to 500,000 ounces.

Calibre Mining has announced positive results from ore control reverse circulation (RC) drilling at its Leprechaun open pit at Valentine Gold Mine in Newfoundland and Labrador. The 21,500-metre drilling program, conducted on a 9x9 metre spacing, revealed 30% more contained gold than the 2022 Mineral Reserve model, with 29% more ore tonnes at a 1% higher grade.

At a 0.70 g/t cutoff, the reserve model estimated 660kt at 2.02 g/t, while the ore control model showed an 18% higher grade by increasing the cutoff to 1.0 g/t. The Valentine construction project remains on schedule, with progress in grinding, reagents, and gold room areas. The project maintains its initial capital cost of C$744 million, with first gold production expected in Q2 2025.

Calibre Mining has announced a significant milestone, producing its one-millionth ounce of gold in Nicaragua since Q4 2019. The company revealed a maiden Mineral Resource estimate for its 100% owned Talavera Gold Deposit, which includes 3,847,000 tonnes of Inferred Mineral Resource averaging 5.09 g/t gold, yielding 630,000 ounces of gold.

Located just 3 kilometers from the Limon mill, Talavera has historically produced 800,000 ounces of gold. The company has successfully increased its Nicaragua Mineral Reserves from 140,000 ounces in Q4 2019 to more than 1.1 million ounces at December 31, 2023. Recent drilling continues to intersect high-grade gold mineralization approximately 750 metres west of the past-producing Talavera underground mine, with the resource remaining open to the west.

For 2025, Calibre plans to focus on expansion and delineation drilling at Talavera while advancing environmental permits. The deposit's steeply dipping structure and parallel gold-bearing zones make it suitable for low-cost, long-hole mining.

Calibre Mining (TSX: CXB; OTCQX: CXBMF) has achieved its fourth consecutive year of compliance with the World Gold Council's Responsible Gold Mining Principles (RGMP), as detailed in its 2024 RGMP Conformance Report. The company has demonstrated leadership in integrating RGMPs across operations through social management systems, risk assessments, stakeholder engagement, and human rights due diligence.

Key achievements include completing a readiness review for the Conflict-Free Gold Standard and receiving independent external assurance for ESG performance. Notably, Morgan Stanley Capital International (MSCI) has upgraded Calibre's ESG Rating from 'BBB' to 'A', marking an improvement from their initial 'BB' rating in 2021.

Calibre Mining reported record Q4 2024 gold production of 76,269 ounces, with Nicaragua producing 66,578 ounces and Nevada 9,691 ounces. Full-year 2024 production reached 242,487 ounces, exceeding guidance. The company maintains a strong financial position with $186.7 million in cash.

The Valentine Gold Mine in Newfoundland & Labrador remains on schedule for first gold production in Q2 2025. Construction progress includes completed tailings facility, advancing SAG and Ball Mill pre-commissioning, and completed CIL leaching tanks. Initial project capital costs remain at approximately C$744 million.

Exploration results at Valentine revealed significant gold mineralization outside known resources, including impressive intersections of 2.43 g/t Au over 172.8 metres. The company plans to expand its drilling program in 2025, with guidance projecting 230,000-280,000 ounces of consolidated gold production.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has responded to a Condor Gold news release regarding the La India gold asset. While Calibre confirms having previously engaged in discussions with Condor about potentially acquiring the asset, which would fit within their Hub & Spoke operation, they are not currently in discussions nor have an active offer. The company states that unless Condor reengages in meaningful discussions, they do not plan to complete an acquisition. Calibre is a Canadian-listed, Americas-focused mid-tier gold producer with operations across Canada, USA, and Nicaragua.

Calibre Mining announces significant gold discoveries at its Valentine Gold Mine in Newfoundland & Labrador, extending 1,000 metres beyond known resources. Notable drill results include 2.43 g/t gold over 172.8 metres, 2.12 g/t gold over 95.4 metres, and 2.26 g/t gold over 78.3 metres at the Frank Zone. The Valentine project, currently 85% complete, is on track for first gold production in Q2 2025, targeting approximately 200,000 ounces annually for 12 years. The property hosts 3.95 Moz of Measured and Indicated Resources and 1.10 Moz of Inferred Resources across only 8 km of the 32 km Valentine Lake Shear Zone.

Calibre Mining announces significant high-grade drill results from its 2024 exploration program at the Limon Mine Complex in Nicaragua. Notable intercepts include 14.22 g/t gold over 37.0 metres at Limon Norte Open Pit and 12.96 g/t gold over 19.9 metres in the VTEM Gold Corridor. The drilling program revealed a new structure near surface at VTEM, and extended the Talavera deposit's strike length by 750 metres beyond historic workings. These results are expected to positively impact the company's year-end 2024 Mineral Resource estimate, with a maiden Talavera Mineral Resource declaration anticipated.

Calibre Mining reported Q3 2024 financial results, delivering 46,076 gold ounces in Q3 and 166,200 ounces year-to-date. The Valentine Gold Mine construction is 81% complete with C$197 million remaining cost, on track for first gold production in Q2 2025. The company holds approximately C$300 million in cash and secured an additional $55 million through a gold prepayment arrangement. Q3 consolidated revenue was $113.7 million with total cash costs of $1,580/oz and AISC of $1,946/oz. Q4 production is expected to be 70,000-80,000 ounces, with Nicaragua forecasting higher ore tonnes and a stockpile build of approximately 30,000 ounces for 2025 processing.