Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce the completion of drilling and the final release of assay results for the 2009-2010 drill program on the La Luna and Riscos de Oro projects within the Borosi Concessions in northeast Nicaragua. The concessions are subject to an option agreement, whereby B2Gold Corp. may earn an initial 51% interest by completing C$8 million in exploration expenditures over a period of three years. The final set of results are highlighted by the highest grade gold and silver assays intercepted to date by Calibre on the Riscos de Oro epithermal gold-silver project. Drill hole RD10-009 intercepted 2810 g/t silver and 17.85 g/t gold over 0.95 metres within a larger interval of 8.53 metres grading 384.86 g/t silver and 4.23 g/t gold. The mineralization is characterized by banded sulphosalts hosted within low sulphidation epithermal banded quartz veins and quartz vein breccias.
“Our drill program at Riscos de Oro has confirmed and expanded high grade gold and silver low sulphidation epithermal mineralization to a depth of 200 metres below historic open pit and underground workings. An additional ore shoot of potentially similar dimensions containing high grade gold and silver has also been located 250 metres along strike from the primary workings” stated Robert Brown, President and CEO of Calibre. “As a company, we are very excited about the initial success we have had at Riscos and look forward to expanding our exploration work there shortly. This program has only tested a small strike extent of the mineralized vein system that has been identified to extend over 2 km on the Riscos concession and a further 4 km to the southwest onto adjacent concessions held by Calibre.”
Calibre completed over 5100 metres of diamond drilling over a four month period on three separate targets; Riscos de Oro, La Luna and Bambana. Highlights of the assay results for the completed program are listed in tables 1 and 2. Updated plan maps, cross sections and longitudinal sections can be found at the company’s website www.calibremining.com.
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the soil and rock sample strings. Samples are placed in sealed bags and shipped directly to ALS CHEMEX labs in North Vancouver, BC for gold fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Roger March, P.Geo., a professional geologist registered in the Province of Newfoundland & Labrador and a qualified person as defined by NI 43-101.
Table 1: Summary of Drill Results from Riscos de Oro and La Luna
Drill Holes RD10-004, RD10-006, RD10-007, RD10-008, LL10-003*, LL10-005*, LL10-008 did not contain significant results.
Previously released results denoted by *
Table 2: Summary of Drill Results from Bambana
Drill Hole BB10-003* did not contain significant results.
Previously released results denoted by *
Calibre Mining Corp. is an aggressive TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold, silver and copper deposits in Central America. Major shareholders of Calibre include gold producer Yamana Gold Inc.
Calibre Mining Corp.
Signed “Robert Brown”
Robert D. Brown, B.Sc., MBA
President and CEO
For further information contact:
Robert Brown – Vancouver, Canada
604 681 9944
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.