Vancouver, British Columbia: Edward Farrauto, President and CEO of Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce additional exploration results from the Company’s 100%-owned Riscos de Oro epithermal gold-silver project in the Borosi Concession of Northeast Nicaragua.
Calibre has received final assay results for a 2011 regional soil survey program at Riscos that included over 1,500 soil samples. The results show anomalous gold – arsenic over a three kilometre strike length coincident with the Riscos de Oro vein trend in the vicinity of the historic deposit. Additional anomalies have been identified extending a further four kilometres of strike length towards the southwest. Areas of anomalous Au-As-Pb-Zn have also been highlighted in the El Paraiso area and at the Central Zone.
Based on the success of the soil survey, the Company has commenced a trenching program along the trend of the inferred vein system to further investigate the strong Au-As anomalies identified. Combined results from soil samples and trenches will be used to plan reconnaissance drill holes along the seven kilometre structure that hosts the Riscos de Oro deposit. The resource delineation drill program on the Riscos de Oro deposit is on-going with a second drill rig having been mobilized to site. As detailed in a previous news release dated August 24, 2011, the drilling program is designed to further delineate high grade epithermal gold-silver vein stockwork mineralization encountered in previous drilling including 7.69 g/t Au and 211.80 g/t Ag over 10.6 metres in RD11-012 and 10.25 g/t Au and 288.25 g/t Ag over 5.4 metres in RD11-010.
Additional gold in-soil maps and results as well as current information on the Riscos de Oro program can be found at 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 Gregory Smith, P.Geo, Vice President, Exploration and a Qualified Person (“QP”) as defined by NI 43-101.
About Calibre Mining Corp.
Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and silver deposits in Central America. Calibre has outlined a NI 43-101 compliant inferred resource totalling 835,450 ounces of gold and 4,288,070 ounces of silver at its 100% owned Borosi Project in Nicaragua. The Company is presently focused on a drilling program at its 100% owned Riscos de Oro gold-silver project and the trenching and drilling program at the Primavera gold-copper prospect in conjunction with B2Gold, also within the Borosi concessions in Nicaragua.
Major shareholders of Calibre include gold producer Yamana Gold Inc. and investment fund Sun Valley Gold.
Calibre Mining Corp.
Signed “Edward Farrauto”
Edward Farrauto, CGA
President and CEO
For further information contact:
Mark Carruthers – Vancouver, Canada
604 681 9944
Neither the 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.