Calibre Expands Mineralization to Surface at Frank Zone, Up-Plunge of 2024 Results at the Valentine Gold Mine, Newfoundland & Labrador, Canada; Drilling Intercepts Include 3.08 g/t Gold over 48.2 Metres, 1.62 g/t Gold over 44.6 metres, 1.94 g/t Gold over 36.4 Metres and 3.47 g/t Gold over 12.6 metres; New Discovery Frank Zone Now Traced Over 1 Kilometre Along Strike and 500 Metres Deep
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 (TSX: CXB; OTCQX: CXBMF) ha annunciato risultati significativi dalle perforazioni di scoperta del suo programma ampliato di 100.000 metri presso la Valentine Gold Mine in Newfoundland e Labrador. Le nuove perforazioni nella Frank Zone hanno rivelato zone ampie e superficiali di mineralizzazione continua, che si estendono fino in superficie con notevoli intercettazioni di oro.
I punti salienti includono 3.08 g/t Au su 48.2 metri, 97.87 g/t Au su 3.9 metri e 1.62 g/t Au su 44.6 metri. La mineralizzazione della Frank Zone è stata tracciata per oltre un chilometro lungo il suo andamento e per 500 metri di profondità, rimanendo aperta verso sud-ovest e nord.
La scoperta si trova a un chilometro a sud-ovest delle risorse minerali riportate e mostra potenziale per un ulteriore open pit. La Valentine Lake Shear Zone, una struttura lunga 32 km, rappresenta un potenziale di esplorazione all'interno dell'ampio pacchetto di terra di 250 km². La Valentine Gold Mine rimane in programma per la prima produzione d'oro nel secondo trimestre del 2024, con un obiettivo di produzione annuale di 450.000 a 500.000 once.
Calibre Mining (TSX: CXB; OTCQX: CXBMF) ha anunciado resultados significativos de perforación de descubrimiento de su programa ampliado de 100.000 metros en la Valentine Gold Mine en Newfoundland y Labrador. Nuevas perforaciones en la Frank Zone han revelado amplias zonas superficiales de mineralización continua, que se extienden hasta la superficie con notables interceptaciones de oro.
Los aspectos destacados incluyen 3.08 g/t Au sobre 48.2 metros, 97.87 g/t Au sobre 3.9 metros y 1.62 g/t Au sobre 44.6 metros. La mineralización de la Frank Zone se ha trazado por más de un kilómetro a lo largo de su recorrido y hasta 500 metros de profundidad, permaneciendo abierta hacia el suroeste y el norte.
El descubrimiento se encuentra a un kilómetro al suroeste de los recursos minerales reportados y muestra potencial para otra mina a cielo abierto. La Valentine Lake Shear Zone, una estructura de 32 km de largo, representa un potencial de exploración dentro del amplio paquete de tierra de 250 km². La Valentine Gold Mine sigue programada para la primera producción de oro en el segundo trimestre de 2024, con un objetivo de producción anual de 450.000 a 500.000 onzas.
칼리브르 마이닝 (TSX: CXB; OTCQX: CXBMF)이 뉴펀들랜드 및 래브라도의 발렌타인 골드 마인에서 확대된 100,000미터 프로그램의 중요한 발견 시추 결과를 발표했습니다. 프랭크 존에서의 새로운 시추 결과는 눈에 띄는 금 함량과 함께 표면까지 이어지는 넓고 얕은 연속 광물화 구역을 드러냈습니다.
주요 하이라이트로는 48.2미터에서 3.08 g/t Au, 3.9미터에서 97.87 g/t Au, 44.6미터에서 1.62 g/t Au가 있습니다. 프랭크 존의 광물화는 현재 1킬로미터 이상에 걸쳐 추적되었으며, 깊이는 500미터에 이르고 남서쪽과 북쪽으로 열려 있습니다.
발견지는 보고된 광물 자원에서 남서쪽으로 1킬로미터 떨어져 있으며 또 다른 오픈 핏의 가능성을 보여줍니다. 길이 32km의 발렌타인 레이크 전단대는 250 km²의 넓은 토지 패키지 내에서 탐사 잠재력을 나타냅니다. 발렌타인 골드 마인은 2024년 2분기에 첫 금 생산을 목표로 하며, 연간 450,000에서 500,000 온스의 생산을 계획하고 있습니다.
Calibre Mining (TSX: CXB; OTCQX: CXBMF) a annoncé des résultats de forage de découverte significatifs provenant de son programme élargi de 100 000 mètres à la Valentine Gold Mine à Terre-Neuve-et-Labrador. De nouveaux forages dans la Frank Zone ont révélé de larges zones de minéralisation continue, s'étendant jusqu'à la surface avec des interceptions d'or notables.
Les faits saillants comprennent 3.08 g/t Au sur 48.2 mètres, 97.87 g/t Au sur 3.9 mètres et 1.62 g/t Au sur 44.6 mètres. La minéralisation de la Frank Zone a maintenant été tracée sur plus d'un kilomètre le long de son pendage et sur 500 mètres de profondeur, restant ouverte au sud-ouest et au nord.
La découverte est située à un kilomètre au sud-ouest des ressources minérales rapportées et montre un potentiel pour un autre puits à ciel ouvert. La Valentine Lake Shear Zone, une structure longue de 32 km, représente un potentiel d'exploration au sein du vaste ensemble foncier de 250 km². La Valentine Gold Mine reste sur la bonne voie pour une première production d'or au deuxième trimestre 2024, visant une production annuelle de 450 000 à 500 000 onces.
Calibre Mining (TSX: CXB; OTCQX: CXBMF) hat bedeutende Entdeckungsergebnisse von seinen erweiterten Bohrprogrammen über 100.000 Meter in der Valentine Gold Mine in Neufundland und Labrador bekannt gegeben. Neue Bohrungen in der Frank Zone haben flache, breite Zonen kontinuierlicher Mineralisierung offenbart, die bis zur Oberfläche reichen und bemerkenswerte Goldabschnitte zeigen.
Zu den wichtigsten Höhepunkten zählen 3.08 g/t Au über 48.2 Meter, 97.87 g/t Au über 3.9 Meter und 1.62 g/t Au über 44.6 Meter. Die Mineralisierung in der Frank Zone wurde nun über mehr als einen Kilometer entlang des Erzeintrags und 500 Meter tief zurückverfolgt und bleibt nach Südwesten und Norden offen.
Die Entdeckung befindet sich einen Kilometer südwestlich der gemeldeten Mineralressourcen und zeigt Potenzial für eine weitere Tagebaugrube. Die Valentine Lake Shear Zone, eine 32 km lange Struktur, stellt das Erkundungspotenzial innerhalb des umfassenderen 250 km² großen Grundstücks dar. Die Valentine Gold Mine bleibt im Zeitplan für die erste Goldproduktion im zweiten Quartal 2024, mit einem Ziel von 450.000 bis 500.000 Unzen jährlicher Produktion.
- High-grade gold intercepts discovered, including 3.08 g/t Au over 48.2m and 97.87 g/t Au over 3.9m
- Frank Zone mineralization extended to 1km strike length and 500m depth
- Project on track for first gold production in Q2 2024
- Planned annual production of 450,000-500,000 ounces positions company as mid-tier producer
- Discovery shows potential for additional open pit resource
- New discoveries located outside of known mineral resources, requiring additional work to establish economic viability
VANCOUVER, British Columbia, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the "Company" or "Calibre") is pleased to announce additional discovery diamond drill results from its expanded 100,000 metre drill program at the Valentine Gold Mine (“Valentine”) located in Newfoundland & Labrador, Canada. Previous drilling (see news release dated November 25, 2024) highlights the considerable prospectivity to the southwest of the Leprechaun Pit at the Frank Zone. New drill results reveal shallow, broad zones of continuous mineralization, expanding the volume of high-grade gold intercepts to surface. These results align with previously released high-grade trenching and grab sample data. All results discussed in this release are well outside of known mineral resources. Highlights from today’s release include:
- 3.08 g/t Au over 48.2 metres Estimated True Width (“ETW”) in Hole FZ-24-062;
- At surface, 97.87 g/t Au over 3.9 metres ETW and 1.62 g/t Au over 44.6 metres ETW including 2.58 g/t Au over 22.8 metres ETW and 10.11 g/t Au over 0.9 metres ETW in Hole FZ-24-064;
- 1.94 g/t Au over 36.4 metres ETW and 1.25 g/t Au over 19.1 metres ETW in Hole FZ-24-066;
- 1.00 g/t Au over 56.1 metres ETW including 12.67 g/t Au over 0.9 metres ETW in Hole FZ-24-050;
- 0.87 g/t Au over 78.3 metres ETW in hole FZ-24-055; and
- 2.87 g/t Au over 5.4 metres ETW including 11.09 g/t Au over 0.9 metres ETW and 1.28 g/t Au over 20.7 metres ETW and 3.47 g/t Au over 12.6 metres ETW including 31.37 g/t Au over 0.9 metres ETW in Hole FZ-24-047.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “Follow-up discovery drilling at the Frank Zone, located one kilometre southwest of reported Mineral Resources, continues to return broad intervals of gold mineralization. Importantly, drilling has now traced mineralization to surface, highlighting the potential for another open pit. These new intercepts geologically align with ore from the Marathon, Berry and Leprechaun open pits. While exploration of the Frank Zone is still in its early stages, current data indicates that the zone remains open to the southwest and to the north and has now been traced for over one kilometre along strike and to a depth of approximately 500 metres. Historically, drilling at Valentine has mainly focused on the 8-kilometre stretch from Leprechaun to Marathon Pit, along the Valentine Lake Shear Zone. This 32 km long structure remains highly prospective for discovering additional gold resources and represents only a small fraction of the broader 250 km2 land package. With construction progressing on plan, Valentine remains on schedule to achieve first gold in Q2 of this year, positioning Calibre into a mid-tier gold producer with annual production of 450,000 to 500,000 ounces.”
Link 1 - Interactive VRIFY 3D Model
Link 2 - Figures
Link 3 - Drilling Tables
Quality Assurance/Quality Control
QA/QC protocols followed at the Valentine Gold Mine include the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, NL. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.30 g/t Au and those in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true width (80 -
Qualified Person
The scientific and technical information contained in this news release was approved by Nic Capps, P.Geo., Calibre -
Valentine Gold Mine’s Director of Exploration and a "Qualified Person" under National Instrument 43-101.
About Calibre
Calibre (TSX:CXB) is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities, Calibre will unlock significant value.
ON BEHALF OF THE BOARD
“Darren Hall”
Darren Hall, President & Chief Executive Officer
For further information, please contact:
Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com
Calibre’s head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.
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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", “assume”, "intend", “strategy”, “goal”, “objective”, “possible” 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 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 December 31, 2023, its management discussion and analysis for the year ended December 31, 2023 and other disclosure documents of the Company filed on the Company’s SEDAR+ profile at www.sedarplus.ca.
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. Calibre does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.
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