Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce additional high grade gold and silver assay results from its drill program on the Riscos de Oro epithermal gold-silver project 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. Drill hole RD10-005 was collared approximately 200 metres on strike and to the northeast of hole RD10-001 (previously released June 1, 2010). Drill hole RD10-005 intercepted 9.0 g/t Au and 30.0 g/t Ag over 4.14 metres, from 242.91 metres to 247.05 metres, including 13.3 g/t Au and 37.8 g/t Ag over 1.08 metres. The mineralization is characterized by low sulphidation epithermal banded quartz veins and quartz breccias that are interpreted to be a new gold zone within the Riscos vein system. Riscos de Oro is a southwest trending, low sulphidation epithermal gold-silver quartz vein system that has been traced on surface for over 2.0 kilometres. Riscos de Oro was previously mined by both open pit and underground methods to a depth of 93 metres from 1972 through to 1981.
Robert Brown, President and CEO stated “Riscos de Oro is a very compelling gold-silver target with hole RD10-005 confirming that the Riscos mineralized system is robust and comprised of a number of gold-silver mineralized shoots that have been traced on strike and to depth below the shallow, historic open pit and underground mine development.”
An additional hole, RD10-009, collared 50 metres on strike to the northeast of RD10-005, has also intercepted banded sulphosalts hosted in a 6 metre wide zone of banded quartz veins and quartz breccias at a down hole depth of 165 metres. Assays for this hole are pending. Plan maps, cross sections and a longitudinal section of the Riscos de Oro property can be found at the company’s website.
The initial drill program on the Borosi gold-silver-copper project is now completed with Calibre drilling 5,180 metres over a four month period on three separate targets; Riscos de Oro, La Luna and Bambana. Assay results are pending for 7 drill holes from Riscos de Oro and La Luna.
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.
Calibre Mining Corp. is an aggressive, well financed, TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold 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 Harbor 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.