Welcome!

News Feed Item

Calibre and B2Gold Initiate Trenching Program on the Minnesota Gold-Copper Project, Borosi Concessions, Nicaragua

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/18/14 -- Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to announce results from follow-up rock and soil sampling at the Minnesota gold-copper project within the B2Gold Corp. ("B2Gold") (TSX:BTO)(NYSE MKT:BTG) Joint Venture on the Borosi concessions, northeast Nicaragua. Calibre controls a 49% interest in the joint venture and B2Gold has a 51% interest and is project operator. As announced on October 9th, 2013 Calibre has executed a Definitive Joint Venture Agreement with B2Gold that grants B2Gold the right to earn an additional 19% in the Borosi concessions joint venture by spending $6 million in additional project expenditures over three years. Each 12 months of the option B2Gold must complete a minimum $1.5 million of exploration and development expenditures on the property.

At least four new trenches totaling 400 linear metres will be excavated at prioritized locations along the Minnesota gold trend. The primary goal of the trenching program will be to expand on the mineralization observed at channel sample locations MNTR13-001 (7.5 metres grading 3.93 g/t Au) and MNTR13-002 (9.2 metres grading 4.17 g/t Au) located in the centre of the eastern 500 metre x 250 metre gold and copper soil anomaly. In addition to the trenching program the existing soil grid will be expanded to the east to follow-up on the highly anomalous soil samples collected in the recent test pits (PR13S2221 - 2.40 g/t Au).

Recent Minnesota Project Rock and Soil assay results include:


----------------------------------------------------------------------------
----------------------------------------------------------------------------
Prospect                     Sample ID        Sample Type           Au (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Minnesota                     P13R0755               Rock              28.90
----------------------------------------------------------------------------
Minnesota                     P13R0653               Rock               3.69
----------------------------------------------------------------------------
Minnesota                     P13R0828               Rock               3.08
----------------------------------------------------------------------------
Minnesota                     P13R0744               Rock               2.98
----------------------------------------------------------------------------
Minnesota                     P13R0664               Rock               2.24
----------------------------------------------------------------------------
Minnesota                     P13R0858               Rock               1.35
----------------------------------------------------------------------------
Minnesota                    PR13S2221               Soil               2.40
----------------------------------------------------------------------------
Minnesota                    PR13S2199               Soil               1.79
----------------------------------------------------------------------------
Minnesota                    PR13S2210               Soil               0.90
----------------------------------------------------------------------------
Minnesota                    PR13S2217               Soil               0.59
----------------------------------------------------------------------------
Minnesota                    PR13S2324               Soil               0.34
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
- Soil samples collected at a range of depth in 2m x 2m x 2m exploration    
test pits                                                                   

Greg Smith, President and CEO of Calibre stated: "The recent high grade rock and soil sample results from Minnesota continue to emphasize the strong nature of gold mineralization on the property. Step-out sampling and geologic mapping has identified multiple targets along the two kilometre gold trend which will be investigated by trenching. Given the encouraging results from the previous channel sampling program and the widespread nature of gold mineralization on the Minnesota project we look forward to the current trenching program expanding the potential of this gold-copper system."

Previous channel sampling assay results along the Minnesota trend include: 9.20 metres grading 4.17 g/t Au (MNTR13-002), 7.50 metres grading 3.93 g/t Au (MNTR13-001), 6.40 metres grading 5.56 g/t Au (BRTR11-044), 8.00 metres grading 6.35 g/t Au (BRTR11-047), 12.80 metres grading 1.27 g/t Au (BRTR11-057), 6.00 metres grading 2.12 g/t Au (BRTR11-054), and 4.65 metres grading 1.51 g/t Au (BRTR11-053).

The Minnesota target area consists of a favourable multi-phase intrusive centre with peripheral epithermal vein sets and widespread alteration. The target is defined by a strong 1.75 kilometre x 1.25 kilometre gold and copper soil anomaly and has considerable gold endowment as indicted by the abundant small-scale artisanal gold miners that are active in the Minnesota region.

The Minnesota gold-copper project is located 20 kilometres northwest of the Primavera gold-copper project where a B2Gold/Calibre drill program intersected significant porphyry-style gold-copper mineralization including: 261.70 metres grading 0.78 g/t Au, 0.30% Cu (PR-11-002) and 172.35 metres grading 0.48 g/t Au and 0.24% Cu (PR-12-008). The Minnesota area was selected as a high priority target during regional evaluation of the entire Borosi Joint Venture area.

Updated maps detailing the result of the current exploration program at the Minnesota Gold/Copper Project will be posted on the Company's web site at www.calibremining.com.

Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the rock and soil sample strings. Samples are placed in sealed bags and shipped directly to Acme Labs in Managua, Nicaragua for sample preparation and then to Acme Labs in Vancouver, Canada for gold fire assay and ICP-MS multi element analyses. The technical content in this news release was read and approved by Gregory Smith, P.Geo, President and CEO of the Company who is the Qualified Person as defined by NI 43-101.

About Calibre Mining Corp.

Calibre controls a 100% interest in 429 km2 of mineral concessions and additionally, Calibre has joint venture exploration programs underway with B2Gold Corp. on 322.3 km2 of concessions which include the Primavera gold-copper porphyry discovery and Alder Resources Ltd. on the 33.6 km2 Rosita gold-copper-silver project. Major shareholders of Calibre include gold producer B2Gold Corp.

Calibre Mining Corp.

Greg Smith, P.Geo., President and CEO

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.

Contacts:
Calibre Mining Corp.
Ryan King
604 628-1012
www.calibremining.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
StackIQ has announced the release of Stacki 3.2. Stacki is an easy-to-use Linux server provisioning tool. Stacki 3.2 delivers new capabilities that simplify the automation and integration of site-specific requirements. StackIQ is the commercial entity behind this open source bare metal provisioning tool. Since the release of Stacki in June of 2015, the Stacki core team has been focused on making the Community Edition meet the needs of members of the community, adding features and value, while ...
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?