VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/07/13 -- Calibre Mining Corp. (TSX VENTURE: CXB) (the "Company" or "Calibre") is pleased to provide an update on the Company's exploration activities and recent discoveries at the 100% owned Riscos de Oro gold-silver deposit and other high priority targets in the Eastern Epithermal District on the Borosi Concessions, northeast Nicaragua. Calibre controls a 100% interest in 429 km2 of mineral concessions in the Mining Triangle of NE Nicaragua. Additionally, Calibre has joint venture exploration programs underway with Alder Resources Ltd. on the 33.6 km2 Rosita gold-copper-silver project; and with B2Gold Corp. on 322.3 km2 of concessions which includes the Primavera gold-copper porphyry discovery.
-- New Discoveries; Calibre continues to outline numerous high priority targets along two sub-parallel gold-silver vein trends; the 8.5 kilometre Riscos de Oro - El Paraiso Trend and the greater than 10km Guapinol - La Sorpresa Trend;-- Significant trench results have been returned for BTR13-097 on the Riscos de Oro vein extension located 500 m north-east of the existing gold-silver resource ; 2 veins intersected: -- 13.50 m @ 3.26 g/t Au and 14.7 g/t Ag (0.00-13.50m) -- Including 3.00m @ 11.51 g/t Au and 56.6 g/t Ag (6.60-9.60m)-- Additional soil results returned from the Guapinol-California area; evidence for numerous parallel vein sets with cumulative strike length of 15.8 km; numerous rock samples containing anomalous Au-Ag values-- Mapping and prospecting in the La Sorpresa area identified up to 5 vein systems with a cumulative strike length of 5.8 km; rock sampling returned up to 42.46 g/t Au and 2457 g/t Ag-- The vein-style gold-silver mineralization discovered in Calibre's Eastern Epithermal District is geologically similar to mineralization at the near-by Bonanza mine which has produced in excess of 2.8 million ozs of gold. Mineros SA recently purchased a 90% interest in Hemco Nicaragua SA, the private company that owns the Bonanza mine for $95.4 million (El Nuevo Diario Newspaper - April 27, 2013)
President and CEO, Greg Smith stated, "Our exploration programs on our 100% owned Eastern Epithermal District targets continue to be successful in expanding existing zones and defining new targets in what is emerging as an exciting high-grade, gold-silver district. The underexplored nature of the district is confirmed by the recent discovery of high-grade silver mineralization at the La Sopresa target area that returned 2457 g/t Ag and 1387 g/t Ag from surface rock samples."
The 100% Calibre owned Eastern Epithermal Gold-Silver District is in the north-eastern portion of the Borosi Concessions and contains the Riscos de Oro and La Luna Gold-Silver Deposits. Previous exploration on the Riscos de Oro - El Paraiso Trend has outlined numerous gold-silver anomalous zones, past producing pits and shallow shafts and existing small scale mining areas extending over 8 kilometres. On-going exploration on the newly acquired Guapinol - La Sorpresa Trend has been successful in defining a series of related anomalous gold-silver vein targets extending over 10 kilometres.
Riscos de Oro - El Paraiso Trend
Calibre continues to advance the Riscos de Oro - El Paraiso trend. Work has included; 9427.6 m diamond drilling (37 holes), 232 surface rock samples, 382 trench rock samples, 587.7 m trenching (26 trenches), 63.4 line km soil sampling (2432 samples), as well as reconnaissance geologic mapping over 36 km2. Significant results include; multiple significant drill intersections by Calibre including 10.25 g/t Au and 288.25 g/t Ag over 5.40 m in RD11-010; the Riscos de Oro gold-silver deposit has been confirmed over a 725 m strike length and to a depth of 300 m and remains open for resource expansion; gold in soil anomaly has been delineated over a 7 kilometre strike length from the deposit towards the southwest. Additional work is planned including; trenching of best soil and rock geochemical anomalies and follow-up diamond drilling program testing the along strike extension of the system.