Calibre Mining Corp (CXB)

[dawsons creek]

Understand, thanks

[ThSeeker]

Have not been invested here for a long time.

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Not invested here and not following.

[dawsons creek]

Hey, what is your update here? You still in. They now bought Fiore and not much chatter which surprises me?

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Calibre Releases Multi-Year Production and Cost Outlook, including Initial Libertad Complex Preliminary Economic Assessment


VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (“Calibre” or the “Company”)(TSX: CXB; OTCQX: CXBMF) is pleased to announce its initial multi-year outlook (the “Plan”), which includes the initial Libertad Complex Preliminary Economic Assessment (“PEA”).

The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. All figures are expressed in United States dollars.

Full release:
https://calibremining.com/news/calibre-releases-multi-year-production-and-cost-ou-1750

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Calibre Mining Receives Environmental Permit for Development and Operation of Pavon Norte Open-Pit Mine

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Calibre Mining Corp.

July 7, 2020

Calibre Mining Corp. has added the following new press release to its website:

Calibre Reports Second Quarter Production; Successful Restart with Operations Back to Steady-State Production

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Calibre Mining Corp. has added the following new press release to its website:

June 24, 2020

Calibre Mining Provides Revised 2020 Production and Cost Guidance: Expects Gold Production of Between 110,000 and 125,000 Ounces at Total Cash Costs¹ of Between $880 and $920 an Ounce

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Calibre Commences Phased Restart of Operations

June 10, 2020

VANCOUVER, British Columbia, June 10, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to announce that it has commenced a phased restart of operations after extensive discussions with government representatives, employees, unions, contractors and other key stakeholders.

Russell Ball, Chief Executive Officer stated, “The steps we took to proactively suspend operations in late March put us in a good position for an orderly restart of operations. The team has done a great job managing through a very challenging environment and has enabled us to restart operations in as healthy and safe an environment as is possible, given the circumstances.”

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Calibre Mining Announces Maiden Mineral Resource Estimate at Panteon Deposit

June 3, 2020

VANCOUVER, British Columbia, June 03, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (“Calibre” or the “Company”)(TSX: CXB; OTCQX: CXBMF) is pleased to announce a maiden Mineral Resource estimate for the Panteon deposit at its Limon mine. Panteon is a high-grade vein located approximately 150 metres from the currently-producing Santa Pancha underground mine.

Russell Ball, Chief Executive Officer of Calibre, stated: “Panteon represents a good example of value creation from the drill-bit that will allow us to leverage our surplus mill capacity at Libertad through our ‘hub-and-spoke’ operating philosophy. We see good potential for the mineralization to continue along strike and down plunge when we resume exploration activities later this month.”

Roscoe Postle Associates Inc. (“RPA,” now part of SLR Consulting Ltd.) estimates that the Panteon deposit currently contains an Indicated Mineral Resource of 90,000 tonnes at an average grade of 9.88 g/t Au for 29,000 contained ounces, with an additional Inferred Mineral Resource of 303,000 tonnes at an average grade of 6.79 g/t Au for 66,000 contained ounces (see Table 1 below).

Table 1: Panteon Mineral Resource Estimate

.......................................Tonnes...Au Grade(g/t)....Contained Au OZ
Indicated Mineral Resource 90,000 - 9.88 -------29,000
Inferred Mineral Resource 303,000 - 6.79 -------66,000

Notes:

Mineral Resource estimates are effective as of May 15, 2020.
CIM (2014) definitions were followed for Mineral Resources.
Mineral Resources were estimated at a cutoff grade of 2.25 g/t Au.
Gold price assumption: US$1,500/oz.
A minimum mining thickness of two metres was applied to the modeled mineral resource wireframes.
Bulk density assigned to mineralization: 2.47 t/m3.
Numbers may not add/multiply due to rounding.
Mineral Resource estimate has been prepared by Mr. José Texidor Carlsson, P.Geo., an employee of RPA who is a “Independent Qualified Person” as defined by NI43-101.
Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The Panteon deposit is hosted within a low sulfidation Bonanza style epithermal vein system typical of the Limon district. From 1965 to 1992, high grade gold mineralization was mined along a 1,000 metre long section of the vein system to vertical depths ranging from 100 to 350 metres below surface.

This maiden resource estimate incorporates a total of 122 diamond drill holes (72,672 metres), including 12 holes (2,265 metres) drilled by Calibre in late 2019 and the first quarter of 2020. Calibre’s initial drilling focused on a 75 by 150 metre section of vein thickening near the southern intersection of the Panteon vein with the Santa Pancha vein system to the east. Drilling to date has tested this section over a vertical range of 115 to 175 metres depth from surface. The mineral resource currently measures approximately 730 metres along strike, ranges from two to eight metres wide with a vertical extent of 260 metres.

The Panteon mineral resource extends to a vertical depth of approximately 230 metres from surface. The deepest hole (historic drill hole L0575, which was drilled by Noranda Mines Ltd., a previous operator of the project) intersected 3.25 g/t gold over 2.0 metres at a down-hole depth of 422.3 to 424.3 metres, approximately 45 metres below the limit of this maiden resource and highlights the potential that the deposit may be open at depth.

The Panteon mineral resource estimate has an effective date of May 15, 2020 and was constrained within a 2.00 g/t Au grade shell using a US$1,500 per ounce gold price assumption. The Panteon mineral resource is not included in Calibre’s 2019 Annual Information Form consolidated mineral resource and reserves table.

Historical access to the Panteon deposit was provided by a shaft which currently provides ventilation for the Santa Pancha underground mine. Anticipating positive results from the drilling campaign, in the first quarter of 2020 the Company commenced development towards Panteon from existing Santa Pancha infrastructure, completing 125 metres of horizontal development and putting the Company in an excellent position to develop the required mine infrastructure. Mine planning is currently under way to mine ore from Panteon in the fourth quarter of 2020.

The current Limon exploration program will resume as drills re-mobilize in June to focus on resource expansion opportunities at Panteon, the main Limon vein system and other prospective targets in the broader Limon district. Since the start of commercial production in 1941, the Limon district has produced in excess of 3.5 million ounces of gold.

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NEWS: Calibre Mining Reports Exploration Results from Libertad and Limon; 2020 Drilling Metres Increased by 30%

May 20, 2020

VANCOUVER, British Columbia, May 20, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to provide an update on exploration results from the Company’s diamond drilling programs. Recent drilling has confirmed resource expansion potential down plunge at the Panteon deposit at Limon and at the Jabali West underground mine at Libertad. Drilling has also demonstrated positive gold grades and continuity along strike at the previously untested Tranca prospect and at the Amalia prospect, which like Tranca, had not been drill tested prior to the current exploration program.

Exploration activities will recommence upon the restart of mining operations with an increased scope of 60,000 metres now planned, an increase of approximately 30% from the previous 47,000 metres. The increased scope will increase the number of rigs drilling from six (prior to the temporary suspension) to ten in the fourth quarter of 2020, with four scheduled at Limon, four at Libertad and two at Pavon.

Drilling at Limon continued at the Panteon and Limon Norte deposits (see news releases dated February 4, 2020, and April 9, 2020). Drilling at Libertad focused on four targets: Tranca, resource expansion and delineation drilling at Jabali Central and Jabali West, and follow up drilling at the Amalia prospect (see news release dated February 11, 2020).

Highlighted drilling results are summarized below:

Jabali West Underground Deposit

23.46 g/t Au over 3.3 metres Estimated True Width (“ETW”) in hole JB20-476;
10.27 g/t Au over 3.9 metres ETW in hole JB20-480; and
9.78 g/t Au over 2.1 metres ETW in hole JB20-489.

Tranca Gold Prospect

3.92 g/t Au over 4.5 metres ETW in hole TR20-009;
1.62 g/t Au over 4.6 metres ETW in hole TR20-002; and
2.09 g/t Au over 4.7 metres ETW in hole TR20-003.

Amalia Gold Prospect

19.99 g/t Au over 1.9 metres ETW in hole EZ20-007;
5.24 g/t Au over 6.7 metres ETW in hole EZ20-011; and
3.86 g/t Au over 3.1 metres ETW in hole EZ20-015.

Panteon Gold Deposit

4.25 g/t Au over 2.1 metres ETW in hole LIM-20-4429; and
2.08 g/t Au over 6.0 metres ETW in hole LIM-20-4433.

Russell Ball, Chief Executive Officer of Calibre, stated: “The geological setting and large land packages at Limon and Libertad continue to demonstrate excellent resource expansion and discovery opportunities. With the exploration success to date and our improved understanding of the structural setting, we are increasing the number of rigs from six in the first quarter to ten in the fourth quarter, which will increase our initial drilling phase from 47,000 metres to 60,000 metres or approximately 30%.”

Jabali West Underground Mine

Calibre recently completed eight holes for a total of 1,320 metres of infill and step-out drilling at the Jabali West underground mine. The Jabali West inferred mineral resource currently hosts an estimated 1,243,000 tonnes averaging 7.87 g/t Au for 315,000 ounces of contained gold (see Technical Report filed on SEDAR titled, “The La Libertad Mine, Chontales Department, Nicaragua”). The resource remains open along strike and down plunge to the west.

Of the eight holes drilled, seven were infill holes to increase resource estimation confidence. All of these holes intercepted moderate to strong gold mineralization over ETW ranging from one to four metres in a section of the vein approximately 45 to 60 metres below the base of the Jabali Antenna open pit. One step out hole (JB20-476) intercepted 23.46 g/t Au over 3.3 metres ETW 200 vertical metres below the current Jabali Antenna open pit resource and 25 metres down plunge from a B2Gold drill hole (JB11-254), which intercepted 2.18 g/t Au over 7.7 metres.

The combination of these two high-grade intercepts provides further confirmation that the Jabali West resource remains open down plunge. Following the restart of operations, Calibre will resume drilling at Jabali West with a focus on testing grade continuity and the potential to extend the resource further down plunge to the southwest.

Jabali Central Prospect

Eight holes were completed for a total of 2,390 metres at the Jabali Central prospect, located approximately one kilometre east of the Jabali Antenna open pit. Five of the eight holes intercepted mineralization grading between 1.1 to 10.6 g/t Au over ETW ranging from 0.9 to 6.1 metres. Drill hole JB20-490 intercepted 10.6 g/t Au over 0.9 metres in the western area of Jabali Central, approximately 130 metres below the currently inactive Jabali Central open pit.

Tranca Prospect

The Tranca prospect is located approximately five hundred metres south of the Jabali West underground mine. Gold mineralization in the area occurs in multiple vein sets exposed over a four kilometre trend that had not previously been drill tested.

Calibre commenced Phase I exploration drilling in February and completed nine holes for a total of 1,056 metres along an 850 metre strike of the four-kilometre trend. Drilling to date focused on the upper 125 metres of the vein structure as it extends below surface. All nine holes intercepted mineralization ranging from 1.2 to 3.9 g/t gold over ETW ranging from 1.0 to 8.3 metres. The Tranca vein remains open in both directions along strike.

Amalia Prospect

The Amalia prospect is located approximately 35 kilometres northeast of the Libertad mill. The concession encompasses approximately 84 km2 of near-surface gold mineralization exposed along a steeply dipping northeasterly vein trend. Calibre reported results from the first seven holes drilled in Q4 2019 which included 17.84 g/t over 7.4 metres in hole EZ19-001 (see news release dated February 11, 2020).

Since resuming drilling in January, an additional 15 holes were completed for a total of 2,471 metres on the Espinoza vein structure, which is open along strike in both directions. Results to date show that the Espinoza structure hosts one, and possibly two, shallow northeasterly plunging zones of gold mineralization warranting further follow-up drilling once operations recommence.

Panteon Deposit

The Panteon deposit is located approximately 150 metres west of the Santa Pancha underground mine and is a vein splay that extends north-northwest from the Santa Pancha. Calibre drilled a total of 2,625 metres in 12 holes, focusing on a 75 by 150-metre section of thickening along the vein and its potential extension at depth. Drilling to date has tested this section over a strike length of 125 metres and a vertical depth of 200 metres from surface. On April 9, 2020 Calibre announced initial high-grade drill results from Panteon, which included 17.96 g/t Au over 4.4 metres (LIM-20-4422) and 10.64 g/t Au over 4.7 metres (LIM-20-4423).

Four additional holes were drilled to further delineate the deposit and hole LIM-20-4429 intercepted 4.25 g/t Au over 2.1 metres ETW, 40 metres down plunge from previously reported LIM-20-4422 (which returned 17.96 g/t Au over 4.4 metres ETW), demonstrating that the ore shoot remains open down plunge to the southeast.

The results of this drilling, combined with previous drilling data from B2Gold and predecessors, are being incorporated into a maiden mineral resource estimate for Panteon which is expected to be announced in June 2020.

Limon Norte Deposit

Three additional holes were completed for a total of 880 metres to test the potential to extend the Limon Norte gold resource another 100 metres down-dip of the currently defined resource. Calibre reported results from the first four step-out holes drilled in the fourth quarter of 2019 on February 4, 2020, which included 18.65g/t Au over 5.1m ETW (LIM-19-4418) and 11.65 g/t Au over 5.1m ETW (LIM-19-4417). The results to date are being evaluated to guide further exploration decisions along strike and down plunge of the Limon Norte resource. The Company plans to conduct infill drilling in the second half of 2020 to improve confidence and upgrade the classification of the Limon Norte mineral resource from Inferred to Indicated.

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Interview text
https://cruxinvestor.com/opinions/calibre-mining-tsx-cxb-i-got-big-money-callin-im-just-tryna-play-it-smart-transcript/

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NEWS: Calibre Mining Corp. new press release to its website:
May 6, 2020

Calibre Reports Strong First Quarter 2020 Production and Costs, Including Record Quarterly Production at Limon of 20,636 Ounces

https://calibremining.com/news/calibre-reports-strong-first-quarter-2020-producti-1333/

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NEWS: Calibre Reports Strong First Quarter Gold Production; Cash On Hand at Quarter End Increases by 30% to $43 Million

April 16, 2020

VANCOUVER, British Columbia, April 16, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) today announced operating results for the three months ended March 31, 2020 and cash on hand at quarter end (all amounts in United States dollars).

Q1 2020 Highlights:

Production of 42,085 ounces of gold
Limon mill production of 20,636 ounces
Libertad mill production of 21,449 ounces

Cash on hand at quarter end of $43 million
Represents a $10 million increase from December 31, 2019
Deferred $15.5 million purchase price obligations due to B2Gold from October 15, 2020 to April 15, 2021, providing significant financial flexibility

Positive resource expansion drilling from
Limon Norte (including 18.65 g/t Au over 5.1 metres)
Panteon (including 17.77 g/t Au over 10.8 metres)

Execution of Borosi Earn-in Agreement and Nicaraguan Exploration Alliance Agreement with Rio Tinto Exploration
https://calibremining.com/news/calibre-reports-strong-first-quarter-gold-producti-1327/

[ThSeeker]

Due to COVID-19 Yes they are.

[nunaka]

I thought they shut down.

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News Releases
Calibre Mining Announces Drilling Results From the Panteon Deposit at El Limon, including 17.77 g/t Au over 10.8 metres

April 9, 2020

VANCOUVER, British Columbia, April 09, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to report drilling results from the Panteon deposit, part of the El Limon mine complex. The drilling results confirm the continuity of high-grade gold mineralization over consistent, mineable widths along the down-plunge projection of the deposit, below the base of historic workings.

Prior to the start of drilling in Q4 2019, the deposit had only been tested 120 metres along strike and to a depth of 115 metres from surface. The current drilling is focused on delineating an indicated resource along the down plunge projection of the deposit, as well as to test potential at depth and along strike to the southeast (see link to figures below).

Highlighted drill results from the Panteon drilling program include:

17.96 g/t Au over 4.4 metres Estimated True Width (“ETW”) from 210 meters depth in hole LIM20-4422;
10.64 g/t Au over 4.7 metres ETW from 178 metres depth in hole LIM20-4423;
54.67 g/t Au over 5.2 metres ETW from 179 meters depth in hole LIM20-4424;
17.77 g/t Au over 10.8 metres ETW from 155 metres depth in hole LIM20-4425; and
6.28 g/t Au over 9.1 metres ETW from 194 metres depth in hole LIM20-4426.

Russell Ball, Chief Executive Officer, stated: “A great start to a potential new underground operation at our Limon mine. The proximity to our Santa Pancha underground mine provides an excellent opportunity for the rapid delineation and development of a new, high-grade resource at Panteon. As part of our ‘hub-and-spoke’ approach to maximizing value from our consolidated operations, Panteon would be ideal feed source for our Libertad mill, which currently has significant excess processing capacity.”

The Panteon deposit is located approximately 150 metres west of the Santa Pancha underground mine. Calibre has drilled a total of 2,625 metres in 12 holes, focusing on a 75 by 150-metre section of thickening along the vein and its potential extension at depth. Drilling to date has tested this section over a vertical range of 115 to 175 metres depth from surface. The results of this drilling, combined with previous drilling by B2Gold, are being incorporated into a new mineral resource estimate that will provide the basis for a development decision. There are currently no mineral resources reported for Panteon.

The Panteon vein was mined between 1965 and 1992 to a depth of 115 metres from surface. Previous access to the deposit was provided by a shaft, which currently serves as ventilation for the Santa Pancha underground mine. Mine planning is underway to access Panteon by an underground decline from existing Santa Pancha infrastructure.

Limon Exploration Program Update

The current exploration program will continue to focus on resource expansion opportunities along the main Limon vein systems, as well as at Panteon and other prospective targets in the broader Limon district. Since the start of commercial production in 1941, the Limon district has produced an estimated 3.5 million ounces of gold.

As at December 31, 2019, Calibre reported indicated mineral resources totaling 11.1 million tonnes averaging 2.23 g/t Au containing 793,000 ounces of gold, and inferred resources totaling 4.5 million tonnes averaging 5.29 g/t Au containing 771,000 ounces of gold (refer to Calibre’s 2019 Annual Information Form dated March 25, 2020 for additional details).

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Calibre Commences Temporary Suspension of Operations; Withdraws 2020 Guidance and Provides Liquidity Update

March 25, 2020

VANCOUVER, British Columbia, March 25, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) announces that it has commenced the legal process with the Nicaraguan Ministry of Labour to obtain authorization for the temporary suspension of its El Limon and La Libertad mines.

Russell Ball, Chief Executive Officer stated, “We have implemented numerous mitigation measures across the business and to date have no confirmed cases at any of our locations. However, due to the rapidly deteriorating global environment and the increasing logistical challenges sourcing consumables, reagents and other supplies, we have taken the proactive step of temporarily suspending operations.”

The Company will maintain personnel at each site as required to ensure environmental compliance, progress ongoing permitting and technical studies, and maintain operational readiness. The Company cannot estimate the duration nor the impact of the suspension and is accordingly withdrawing its 2020 guidance (as previously provided on December 4, 2019).

In a related matter, Calibre and B2Gold Corp. (“B2Gold”) have agreed in principle to defer the payment of the US$10 million “Deferred Acquisition Payment” and the US$5.5 million “Working Capital Adjustment” payment for a six-month period to April 15, 2021, subject to the completion of binding documentation. Calibre has a strong balance sheet with no other debt and having US$32.9 million in cash and cash equivalents on hand as at December 31, 2019.

Russell Ball stated: “My thanks to B2Gold for granting us the payment extension in light of the extraordinary circumstances in which we all find ourselves today. They have been exceptional partners since this transaction was announced last July and I couldn’t ask for a more supportive shareholder.”

Conference Call Details

The Company will be hosting a conference call to discuss the temporary suspension later today at 11:00 a.m. (EDT).
Webcast Link: https://edge.media-server.com/mmc/p/qrpoivgb

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Calibre Reports High Gold Grades at Potential Feeder Pit
Jon Brown, Stockhouse


Calibre Mining Delivers Initial Exploration Results from two properties in Nicaragua.


Click to enlargeCanadian gold mining and exploration Company Calibre Mining Corp. (TSX: CXB, OTCQX: CXBMF, Forum) reported further engaging results from its two 100%-owned operational gold mines in Nicaragua in February 2020.

Calibre is already producing gold and investors should take note of the exploration upside that should significantly increase this resource and provide feedstock to its mill. Through the acquisition of several projects in Q4 2019, the Company transformed from a junior exploration company into a producer and delivered on guidance at its El Limon and La Libertad mines with consolidation production of 33,506 ounces of gold.


Prospective epithermal-style gold mineralization:

CXB released the initial results from exploration drilling that was completed during Q4 at the La Libertad mine and the Amalia exploration property. The Company completed 27 drill holes and tested four zones that range across several stages of development, from active mining to pre-discovery exploration.


Highlighted Drill Results:

Amalia

17.84 g/t Au over 7.0m Estimated True Width (ETW) from 60.6 metres depth in hole EZ19-001


La Libertad

10.66 g/t Au over 1.7m ETW from 123.5 metres depth in hole JB19-473

2.59 g/t Au over 3.0m ETW from 38.0 metres depth in hole EM19-004

4.56 g/t Au over 1.1m ETW from 4.6 metres depth in hole PU19-004


Targeting two deposits - Jabali and Esmeralda, as well as the Buenos Aires gold system, eight more shallow drill holes were completed on two vein structures at the Amalia property.

Click to enlarge
(Image via Calibre Mining Corp.)

Noting the shallow high-grade intercept, Company CEO Russel Ball added for investors that the Amalia property offers excellent potential for the discovery of additional mill feed for La Libertad.


“The Amalia property encompasses a large system of low-sulphidation, epithermal gold structures that has had very limited modern exploration and no previous drilling. Our 2020 exploration program is off to a great start and we have ramped-up to include four drill rigs between La Libertad and Amalia.”


2020 exploration program:

Through the first half of this year, Calibre will continue drilling at Amalia to follow-up on these strong results, along with accelerated surface mapping and sampling along strike extensions of the Espinoza vein trend.

Also on the agenda, the Company will conduct first-pass drilling at La Libertad to test the resource expansion potential along the vein systems in the Jabali, Rosario and San Antonio areas. This busy six-month period will see reconnaissance drilling of the untested Tranca and Nancite vein systems located 500 meters south of Jabali. Reconnaissance level prospecting is also planned over the Company’s 83 km2 portfolio of mineral concessions.

La Libertad: The Company intends to complete approximately 20,000 metres of drilling during the first half of 2020. 27 drill holes totalling 3,429 metres have been completed and testing of the gold vein systems at the Jabali and Esmeralda deposits will begin soon, along with the Buenos Aires prospect, which had not been previously drilled.

Amalia: Located roughly 35 kilometres northeast from La Libertad, eight holes totalling 1,181 metres have been drilled as an initial test of the Espinoza and Pavona vein structures. The Company plans to complete 5,000 metres of drilling at Amalia during the first half of this year, as well.

With the help of these results, Calibre Mining now has an even more detailed and focused plan for its 2020 exploration program. The wider scope of the strategy includes the El Limon mine and Pavon advanced stage exploration project.

In the latter half of 2020, the Company plans to complete approximately 20,000 metres of drilling at La Libertad and approximately 5,000 metres at Amalia. The results from which, will form the basis for further exploration and resource definition work.

Investors should keep an eye out for these exploration drilling results, which are expected to be incorporated into its updated mineral resource and reserve estimates to be completed at year-end.


calibreminingcorp.com

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Calibre and Rio Tinto Exploration Enter Into Agreements: $45 Million Earn-In Agreement for 100%-owned Borosi Projects; And Strategic Exploration Alliance for Nicaragua

February 24, 2020

VANCOUVER, British Columbia, Feb. 24, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce that the Company and Rio Tinto Exploration (“Rio Tinto”) have entered into an option earn-in agreement dated February 23, 2020 (the “Earn-in Agreement”), pursuant to which Rio Tinto can earn up to a 75% interest in Calibre’s 100%-owned Borosi Projects in Northeast Nicaragua. The Borosi Projects host both gold-silver and copper-gold resources in two areas as well as multiple lesser explored copper-gold skarns, low-sulphidation epithermal gold-silver vein systems and bulk tonnage copper-gold porphyry targets.

Furthermore, the Company and Rio Tinto have entered into a strategic exploration alliance agreement (the “Alliance Agreement”) under which we will work together to identify and acquire exploration concessions in Nicaragua, with a focus on copper-gold porphyry, skarn and epithermal precious metal systems.

https://www.calibremining.com/news/calibre-and-rio-tinto-exploration-enter-into-agree-1298/#nfb022420

[ThSeeker]

Undervalued play, Beacon upgrade target at $1.95 CAD !
Recent upgrade by Beacon set at $1.95 & with gold on a uptick my call target at $1750 by year end & $1680 average for the year this stock is grossly undervalued.

Cheers & all the best

https://www.equedia.com/calibre-mining-gets-price-target-upgrade/

Beacon’s Michael Curran upgrades Calibre Mining’s Price Target Calibre Mining (TSX: CXB) (OTCQX: CXBMF), a company we featured late last year, got another vote of confidence this week when Michael Curran, Managing Director and Research Analyst (Mining) at Beacon Securities and who once received the #1 Ranking for Mining & Metals research coverage by The Wall Street Journal, upgraded his assessment of the Company on January 22, 2020. The price target was $1.65; it is now $1.95*.

[ThSeeker]

NEWS: LOOKING VERY GOOD

News Releases
Calibre Delivers on Fourth Quarter 2019 Production and Costs; Reports Consolidated 2019 Financial Results

February 18, 2020

VANCOUVER, British Columbia, Feb. 18, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce financial results for the three and twelve months ended December 31, 2019. Full Financial Statements and Management Discussion & Analysis documents can be found at www.sedar.com and the Company’s website, www.calibremining.com. All figures are in United States dollars, unless otherwise stated.

FOURTH QUARTER 2019 AND 2019 HIGHLIGHTS

Delivered on cost guidance for the fourth quarter with all-in sustaining costs (“AISC”)1 at El Limon, La Libertad and Consolidated at $928/oz, $889/oz and $959/oz, respectively;
Delivered on production guidance at El Limon with fourth quarter production of 15,440 ounces of gold;
Delivered on production guidance at La Libertad with fourth quarter production of 18,066 ounces of gold;
Cash generated from operating activities of $20.7 million for Q4 2019;
Net income per share of $0.01 for Q4 2019; Adjusted net income per share1 of $0.04 for Q4 2019;
Ended 2019 with a cash balance of $32.9 million;
Completed an updated resource estimate for the development stage Pavon project, with a 318% increase in the indicated resource to 230,000 ounces of gold at an average grade of 5.16 g/t;
Commenced an initial $13 million, ~47,000 metre resource expansion and discovery drilling program;
Announced high-grade drill results from El Limon including: 18.65 g/t Au over 5.1m estimated true width; and
Announced high-grade drill results from Amalia including: 17.84 g/t Au over 7.0m estimated true width.

Russell Ball, CEO of Calibre stated: “Since closing the transaction with B2Gold in October 2019, I am very pleased with the team’s accomplishments including delivering on guidance with production of 33,506 ounces at AISC of $959/oz. We continue to see opportunities for improved efficiencies as we integrate the two operations to maximize the value from our combined asset base.

Our drilling program was accelerated in February 2020, with six drill rigs now active at La Libertad and El Limon. Recently released drilling results strengthen our belief in the resource expansion and discovery potential at La Libertad, the Amalia prospect and El Limon, which have produced over 5.2 million ounces of gold.

Our goals for 2020 are to continue to optimize and integrate our operations, deliver on 2020 production and cost guidance and exit the year debt free and with a robust treasury.”

FOR MORE SEE:
https://calibremining.com/news/calibre-delivers-on-fourth-quarter-2019-production-1297/

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Looking really good to me

Feb 19 conference call presentation
https://calibremining.com/site/assets/files/4338/2020_01_20_calibre_mining_corporate_presentation_final.pdf

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Calibre Mining Announces Initial Drill Results From El Limon, Including 18.65 g/t Gold Over 5.1 Metres

February 4, 2020

VANCOUVER, British Columbia, Feb. 04, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to announce initial results from the fourth-quarter 2019 drilling program at El Limon. The drilling was successful in expanding gold mineralization along the El Limon vein system, with high-grade intercepts returned from extensions below the current Limon Norte deposit. A total of five drill holes were completed during the fourth quarter: four targeting the down-dip extensions at Limon Norte and one infill hole at Santa Pancha to assist with mine planning and engineering efforts (see figures).

Highlighted Drill Results Include:

Limon Norte
11.85 g/t Au over 5.1m Estimated True Width (“ETW”) from 209.4 meters depth in hole LIM19-4417
18.65 g/t Au over 5.1m ETW from 197.1 metres depth in hole LIM19-4418
4.13 g/t Au over 20.3m ETW from 248.4 metres depth in hole LIM19-4420

Russell Ball, Chief Executive Officer, stated: “A nice start to our exploration program at El Limon. We ramped-up the program significantly in January and I am confident that our 2020 drilling campaign will deliver positive results in this world-class, low sulfidation epithermal district. I look forward to providing regular updates on our progress at El Limon as the year unfolds.”

A total of 1,285 metres was drilled in five holes during the fourth quarter at Limon Norte and Panteon: Limon Norte is located approximately 100 metres north of the current open-pit at Limon Central; Panteon is a vein splay that extends from the Santa Pancha underground mine. The Company is currently drilling at Panteon and is mobilizing a second drill to resume drilling along the main El Limon vein-system.

Four of the five holes drill tested the down-dip extension at Limon Norte. The drilling confirms the continuity of gold mineralization, with hole LIM19-4420 intercepting the Limon Norte structure 60 metres down-dip from the currently reported mineral resource. The fifth hole was infill drilling at Santa Pancha to upgrade resource classification to support a future mineral reserve estimate for Santa Pancha and to assist with mine planning and engineering efforts. (See a complete table of drill hole details at the bottom of this press release.)

2020 Exploration Program

Calibre’s program will continue to focus on resource expansion along the main Limon vein-system as well as at Santa Pancha and Atrevesada. Based on the positive results from the 2019 drilling, the Company now plans to increase drilling at El Limon from the budgeted 7,000 meters to between 10,000 and 12,000 metres in 2020.

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Good stuff
https://www.pinnacledigest.com/pinnacle-productions/largest-gold-producer-nicaragua/

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Undervalued? $2 est based on production

Calculation:
AISC $900
2020 production est 140,000 oz
$500 /oz x 140000 oz = $70,000,000
$70,000,000 / 328,021,247 shares = $.213
$.213 x 10PE = $2.13 /share (PE of 10 is conservative)

US$32.9 million cash balance. At December 31, 2019,

Highlights:
Stable government, with a political environment favorable to mining

Previous consolidated gold production by B2Gold at the El Limon and La Libertad gold mines over 1.4 million ounces

100% owned and operated, multi-asset gold production from El Limon and La Libertad gold mines

Consolidated gold production of 140,000 – 150,000 ounces1

Extensive exploration potential at both producing gold assets

Development stage Pavon Gold Project hosts opportunity to expand known resources

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News looked good. How will market react? Hoping for a positive day.

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VANCOUVER, British Columbia, Jan. 14, 2020 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) today announced operating results for the period October 15, 2019 to December 31, 2019.

Q4 2019 Highlights:

Transformed Calibre from a junior exploration company into an immediate gold producer through the acquisition of the El Limon and La Libertad gold mines, the Pavon Gold Project, and a number of prospective exploration concessions in Nicaragua from B2Gold Corp. (“B2Gold”);

Delivered on guidance at both El Limon and La Libertad with production of 15,440 and 18,066 ounces of gold, respectively; consolidated total of 33,506 ounces of gold;

Completed an over-subscribed C$105 million equity financing;

Converted B2Gold’s US$10 million debenture to equity, making B2Gold our largest shareholder at 34%;

Completed an updated resource estimate for the development stage Pavon open-pit gold project, with a 318% increase in the indicated resource to 230,000 ounces at an average gold grade of 5.16 g/t;

Graduated from the TSX Venture Exchange to the TSX Exchange, with average daily trading volumes of approximately 500,000 shares;

Commenced an initial US$13 million, 47,000-metre resource expansion and discovery drilling program; and

Strengthened the management team with the appointment of Mark Petersen as VP, Exploration.

Russell Ball, CEO of Calibre stated: “Our fourth quarter of 2019 was transformative as we transitioned the Company to a multi-asset producer, while successfully delivering on our production guidance. As we begin 2020, we look to continue delivering quality, high-margin gold production, driven by increased, high-grade, open-pit ore being mined at Limon Central. In addition, our discovery drilling and resource expansion programs will ramp up significantly as we expect to have six drill rigs turning by the end of January, with four focused at La Libertad. In my opinion, the extension of mine life at La Libertad represents the most compelling near-term, value creation opportunity for Calibre.”

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December 4, 2019

Calibre Mining Corp. has added the following new press release to its website:

Calibre Mining Provides 2020 Guidance: Expects Gold Production of Between 140,000 and 150,000 ounces at Total Cash Costs of Between $840 and $890 an Ounce

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Calibre Mining Announces a 318% Increase in the Pavon Gold Project Indicated Resource to 230,000 ounces Grading 5.16 g/t Gold; Resource Expansion Drilling Planned for 2020

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LOTS OF GOLD News: VANCOUVER, British Columbia, Nov. 12, 2019 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB) (the “Company” or “Calibre”) is pleased to report 2018 and 2019 exploration drilling and target delineation results from the La Libertad mine and surrounding concessions. B2Gold Corp. (“B2Gold”) was successful in identifying several new near-mine gold trends, as well as several high-priority regional targets over its 650km2 district scale concessions (see figures).

Calibre is currently processing ore from the Jabali underground mine, the Jabali Antenna open-pit, the San Juan open-pit and spent ore at the La Libertad mill at an annual throughput rate of 1.6Mtpa.
https://calibremining.com/news/calibre-mining-reports-results-from-b2gold-explora-1273/

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Interview ( from October) Calibre Mining: B2Gold Deal for Nicaragua Mines is "Transformational"

( not new but good to hear)

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Good commentary from Stockhouse
Calibre Buys Two Gold Mines from B2 Gold

https://stockhouse.com/opinion/independent-reports/2019/11/04/calibre-buys-two-gold-mines-from-b2-gold


From link above:
if you are smart enough to remember how to fall off a bicycle, you qualify as wise enough to be buying shares in Calibre Mining Corp. (CXB:TSX.V; CXBMF:OTC.MKTS). It's that easy.

B2Gold Corp. (BTG:NYSE; BTO:TSX; B2G:NSX), run by Clive Johnson, is a $4 billion company. They had two gold mines in Nicaragua but have transitioned to mining in Africa and the Far East. Johnson is not above trying to maximize value for his shareholders, so when the decision was made to focus on larger mines in Africa, he looked around for a suitable junior to take over the existing production assets in Nicaragua. There was such a junior right in their own backyard and a deal was cut.

Essentially B2 is selling the El Limon gold mine with a 500,000 TPA (tonnes per annum) mill with a partial Q4 guidance of 14,000–17,000 ounces with an AISC (all-in sustaining cost) of US$950–$990, and the La Libertad gold mine with a 2.2 million TPA mill with a partial Q4 guidance of 17,000¬–20,000 ounces, showing an AISC of $930–$960, for about US$100 million in cash and shares. The new owner of the two mines and a couple of extra projects with potential is named Calibre Mining, with a ten-year history of exploration in Nicaragua.

B2 is ending up with US$40 million in crisp $100 bills, along with 29% of the shares of Calibre and a US$10 million convertible note, with an additional US$10 million due in a year.

The deal makes a ton of sense for both companies. B2 has operating mines in Mali producing about 425,000 ounces of gold a year, another gold mine in the Philippines doing about 205,000 ounces a year, and yet another in Namibia showing production of about 170,000 ounces of gold a year.

While their two existing mines in Nicaragua built the structure for B2, total production of about 140,000 to 150,000 ounces wasn't enough to move the needle for shareholders.

For Calibre, it gives them the opportunity to move into the lower reaches of being a mid-tier producer with a lot of exploration potential. For investors, it gives a chance to pick up a company with existing producing mines, and about $75,000,000 above and beyond AISC yearly. This is a good deal for everyone and as easy as falling off a bike.

The potential for a revaluation of the shares is giant. At the issue price of $0.60 a share for the deal on a peer basis, Calibre has a 300% potential move higher, and on gold resources, has a 200% potential move higher. While B2 could have kept the mines and operated them themselves, they have a large potential for expanding what they will get for the mines in total, and for Calibre and investors, it really looks like a slam dunk for higher prices.

The company has hit the ground running. On Oct. 31, Calibre announced some great drill intercepts from both mines.

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Management has invested their own money in this which indicates confidence

here is the part of the interview on that

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indepth Interview

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VANCOUVER, British Columbia, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX:CXB) (the “Company” or “Calibre”) is pleased to report 2018 and 2019 drilling results from El Limon. B2Gold Corp. (“B2Gold”) was successful in extending gold mineralization along the El Limon vein system for over 2.5 kilometres, with high-grade intercepts at Limon Sur, Limon Central, Limon Norte, Tigra, Chaparral and Cacao vein system, as well as from the newly-developed Atravesada and Panteon underground targets (see figures).

Calibre is currently processing ore at El Limon from the Santa Pancha underground mine and an open-pit developed on the Limon Central deposit, which covers approximately 500 metres of the known 2.5-kilometre-long El Limon vein system. The El Limon vein system remains open along strike and at depth.

Highlights and Key Drill Intercepts(2018 and 2019 drilling completed by B2Gold)

Limon Central

• Drilling returned high-grade gold intercepts from the Limon Central open-pit zone, including:

9.19 g/t Au over 28.10m Estimated True Width (“ETW”) in hole LIM-18-4227;
10.53 g/t Au over 23.60m ETW in hole LIM-18-4327;
8.66 g/t Au over 26.40m ETW in hole LIM-18-4235; and
9.45 g/t Au over 22.92m ETW in hole LIM-18-4251.



Limon Norte

• Drilling returned high-grade gold intercepts from the Limon Norte open-pit zone, including:

10.82 g/t Au over 20.42m ETW in hole LIM-18-4359;
9.66 g/t Au over 20.63m ETW in hole LIM-18-4267;
20.24 g/t Au over 8.95m ETW in hole LIM-18-4363;
5.49 g/t Au over 32.31m ETW in hole LIM-18-4361;
6.54 g/t Au over 12.00m ETW in hole LIM-18-4241; and
9.00 g/t Au over 6.42m ETW in hole LIM-18-4262.



Tigra

• Drilling returned high-grade gold intercepts from the Tigra open-pit zone, including:

16.50 g/t Au over 6.08m ETW in hole LIM-18-4272; and
17.97 g/t Au over 5.55m ETW in hole LIM-18-4281.



Chapparal

• Drilling returned high-grade gold intercepts from the Chapparal open-pit zone, including:

14.28 g/t Au over 7.30m ETW in hole LIM-18-4237; and
2.99 g/t Au over 25.47m ETW in hole LIM-18-4232.



Cacao

• Drilling returned high-grade gold intercepts from the Cacao open-pit zone, including:

6.82 g/t Au over 4.56m ETW in hole LIM-18-4374; and
4.56 g/t Au over 4.08m ETW in hole LIM-18-4300.




Atravesada

• Drilling returned high-grade gold intercepts from the Atravesada underground target, including:

31.38 g/t Au over 2.68m ETW in hole LIM-18-4302;
18.42 g/t Au over 4.07m ETW in hole LIM-18-4351; and
51.65 g/t Au over 1.19m ETW in hole LIM-18-4358.



Panteon

• Drilling returned high-grade gold intercepts from the Panteon underground target, including:

10.62 g/t Au over 5.44m ETW in hole LIM-19-4400; and
7.96 g/t Au over 7.17m ETW in hole LIM-19-4397.



All 2018 and 2019 B2Gold drill results have been incorporated in the most recent resource estimate for El Limon; see Calibre NI 43-101 Technical Report on El Limon dated August 30, 2019 filed on Calibre’s profile on SEDAR.

Russell Ball, Chief Executive Officer of Calibre stated: “The El Limon district has produced over 3.4 million ounces of gold and I am confident that we are in a truly world-class, low-sulphidation epithermal system. B2Gold’s recent drilling intercepted high-grade mineralization over substantial widths and these targets represent an excellent opportunity to expand reserves and resources, both at depth and along strike. Calibre will commence drilling at Limon Norte in early November.”

Calibre’s initial 7,000-metre drilling program for the fourth quarter of 2019 and 2020 will target extensions at Limon Norte, Tigra-Chaparral and Atravesada. Additional, concurrent target delineation exploration programs will commence at Lourdes, San Antonio and Guanacastal, which will include geological mapping, surface geochemical sampling and trenching for a total cost of approximately US$2.9 million.

Overview

Previous drilling by B2Gold at El Limon focused on a 2.5-kilometre-long section of the El Limon vein system comprised of the Limon Sur, Limon Central, Limon Norte, Tigra, Chaparral and Cacao mineralized zones. The drill program included step-out holes designed to test the mineralized system along strike and at depth, as well as a significant amount of infill drilling to upgrade inferred resources to indicated resources.

A total of 20,748 metres was drilled in 116 holes along the El Limon vein system in 2018. Based on the success of the 2018 drilling campaign, B2Gold obtained a mine permit for the El Limon vein on October 5, 2018. Current open-pit production began in December 2018 at Limon Central.

Other advanced exploration targets which were drilled in 2018 and 2019 include the Atravesada and Panteon targets which are located next to existing infrastructure and are extensions to the current underground mining operations, Veta Nueva and Santa Pancha. A total of 7,152 metres was drilled in 36 holes.

Along the current and past producing Santa Pancha vein system, 2,110 metres was drilled in 14 holes at the Santa Pancha Sur, Mercedes SW and Hagie targets. In addition, early stage reconnaissance drill testing programs were completed at the San Antonio, Tecomapas and Ramadas veins totaling 1,898 metres in 21 holes.

El Limon Vein – Traced by Drilling Over 2.5 kilometres

Limon Central

Shallow, northeast dipping (45-50°), central section of the El Limon vein system is characterized by its high grade, good continuity and large vein width of up to 28 metres. A total of 11,095 metres of infill and step-out drilling was completed in 61 holes in 2018. The zone has a current indicated resource of 2.01 Mt, grading 4.24 g/t Au, containing 274,000 ounces of gold and a current inferred resource of 1.2 Mt, grading 5.83 g/t Au, containing 226,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR). Production began at Limon Central in December 2018.

The Limon Central ore-shoot has been drilled to a depth of 250 vertical metres with recent positive drill results showing the potential for expansion at depth. Highlights of deep holes drilled within the zone include:

6.66 g/t Au over 12.23m ETW (LIM-18-4299);
3.88 g/t Au over 14.35m ETW (LIM-18-4309);
5.61 g/t Au over 6.30m ETW (LIM-18-4295); and
3.63 g/t Au over 7.25m ETW (LIM-18-4303).

Limon Norte

Located immediately north of the producing Limon Central zone, Limon Norte is characterized as a shallow, east-northeast dipping (40-50°) vein containing high grade gold over 20 metre intervals. A total of 2,564 metres of infill and step-out drilling was completed in 18 holes in 2018. The zone has a current inferred resource of 836 kt, grading 5.43 g/t Au, containing 146,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR).

The Limon Norte ore-shoot has been defined to a depth of 150 vertical metres (60% of the depth of Limon Central) and shows potential for expansion at depth. Highlights of holes drilled in 2018 include:

10.82 g/t Au over 20.42m ETW (LIM-18-4359);
6.54 g/t Au over 12.00m ETW (LIM-18-4241); and
4.01 g/t Au over 6.44m ETW (LIM-18-4310).

Tigra-Chaparral

Located north of the Limon Norte zone is a shallow, east-northeast dipping (45-50°) vein similar to the Limon Central and Limon Norte zones with high grade gold over 5 metre intervals. A total of 4,676 metres of infill and step-out drilling was completed in 22 holes in 2018. The zone has a current inferred resource of 487 kt, grading 6.01 g/t Au, containing 94,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR).

The Tigra-Chaparral zone has been drilled to a depth of 200 vertical metres with two high-grade ore shoots currently open at depth to the north and south. Highlights of deep holes drilled in 2018 include:

17.97 g/t Au over 5.55m ETW (LIM-18-4281);
9.69 g/t Au over 4.60m ETW (LIM-18-4232);
42.20 g/t Au over 2.22m ETW (LIM-18-4272); and
3.53 g/t Au over 4.61m ETW (LIM-18-4231).

Cacao

Shallow, northeast dipping (50-55°) vein located at the northwest end of the El Limon vein system. Recent high-grade drill intercepts have shown similarities to the mineralization observed within the Central and Norte zones. Additional drilling is required to evaluate the potential of this newly discovered extension of the El Limon vein system.

Atravesada

Past producing, high grade underground target located 200 metres along strike to the northeast from the Veta Nueva underground operations which currently have an indicated resource of 505 kt, grading 4.07 g/t Au, containing 66,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR). A total of 3,570 metres of infill and step-out drilling was completed in 20 holes in 2018.

The Atravesada ore-shoot has been drilled to a depth of 200 vertical metres. Mineralization is currently open at depth across the 400-metre-wide ore-shoot.

Panteon

Past producing, northwest oriented, high-grade underground vein target located 200 metres to the west of the current and past producing Santa Pancha vein system. Panteon is a shallow, northeast dipping (43°) vein at the southeast end of the trend and may allow for mining from the southern end of the Santa Pancha underground development. A total of 3,582 metres of infill and step-out drilling was completed in 16 holes in 2018 and 2019.

The southeastern section of the Panteon structure has been drilled to a vertical depth of 250 metres and is open at depth across the 150-metre-wide ore-shoot.

Gold Mineralization at El Limon

Gold mineralization at El Limon is typical of low-sulphidation, epithermal gold vein systems. The mineralization is strongly structurally controlled with veins forming along pre-existing fault planes and occupying extensional openings which occurred during the time of emplacement. Evidence also exists for significant post mineral movement along localized structures in the form of mineralized tectonic breccias.

Veins are quartz dominant with lesser amounts of calcite and adularia. Pyrite is the dominant sulphide present in quantities less than one percent. Occurring with the pyrite are trace amounts of chalcopyrite, sphalerite, arsenopyrite, and gold telluride minerals. Gold is generally very fine grained and is present in multiple events including primary colloform banded quartz and high energy, multi-phase, silicified breccias that make up the veins. Low grade gold mineralization can extend tens of metres into the host rock related to auxiliary quartz dominant stringer veinlets.

Current and past producing veins are approximately one to two kilometres in length, with widths ranging from less than 1 metre to greater than 25 metres. Ore shoots along the principal structures extend from 50 metres to greater than 500 metres horizontally and from 50 metres to greater than 300 metres vertically.

To view a PDF of the tables and figures as referenced in this news release please go to the following links:

Link 1 –https://calibremining.com/site/assets/files/news/Oct312019NRTable.pdf

Link 2 –https://calibremining.com/site/assets/files/news/Oct312019NRFigures.pdf

Qualified Person

The scientific and technical data contained in this news release relating to El Limon has been reviewed and approved by Angela D. Johnson, P.Geo., a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD

“Russell Ball”

Russell Ball, Chief Executive Officer

For further information, please contact:

Ryan King
Vice President, Corporate Development & IR
Calibre Mining Corp.
T: 604.628.1012
E: [e-mail]
W: www.calibremining.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Youtube interview

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Calibre Mining closes C$102.5 million equity financing
Michael McCrae
Michael McCrae Wednesday September 18, 2019 15:13

Kitco News

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Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

(Kitco News) -Nicaragua-focused exploration company Calibre Mining (CVE: CXB) announced yesterday that it closed a $77.2 million (C$102.5 million) brokered private placement.

The company said that $40 million proceeds will be used to fund a portion of the purchase price to acquire the producing El Limon and La Libertad Gold Mines; the Pavon Gold Project and additional concessions in Nicaragua.

As a result of the transaction, B2Gold will become the company's largest shareholder.

Russell Ball, Executive Chairman of Calibre, noted management's position in the financing.

"Despite a challenging equity financing environment, we were able to raise in excess of our targeted CDN $100 million and I wanted to express my thanks to those investors who participated in the financing for their support of the team and the assets, said Ball.

"We are excited about the opportunities that lie ahead, so much so that management and the board subscribed for approximately C$6.5 million of the private placement, firmly aligning the interests of management with those of our long-term shareholders, including B2Gold, who after the closing of the transaction will hold an approximate 31% equity interest in the company."
By Michael McCrae

For Kitco News

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AISC $930-$990

El Limon is expected to produce between 14,000 and 17,000 ounces of gold between October 15 and December 31, 2019 at all-in sustaining costs (“AISC”)(2) between US$950 and US$990 per ounce. As per B2Gold’s 2019 guidance, gold production was forecasted to be weighted towards the second half of 2019 as additional high-grade ore from the new El Limon Central open pit is processed. AISC were forecasted to decrease significantly in the second-half of 2019 due to a combination of higher gold production and the timing of sustaining capital expenditures(3).

La Libertad

La Libertad is expected to produce between 17,000 and 20,000 ounces of gold between October 15 and December 31, 2019 at AISC(2) between US$930 to US$960 per ounce

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Issued and Outstanding 310,321,880
Options (avg. $0.62) 30,424,999
Warrants (avg. $1.02) 13,769,896
Restricted Share Units 4,725,000
Cash Position (Oct 15, 2019) CDN$45 million

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IMPRESSIVE NEWS Calibre Mining Reports Results from B2Gold Drilling Program at El Limon; Vein System Now Extends Over 2.5 Kilometres

October 31, 2019

VANCOUVER, British Columbia, Oct. 31, 2019 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX:CXB) (the “Company” or “Calibre”) is pleased to report 2018 and 2019 drilling results from El Limon. B2Gold Corp. (“B2Gold”) was successful in extending gold mineralization along the El Limon vein system for over 2.5 kilometres, with high-grade intercepts at Limon Sur, Limon Central, Limon Norte, Tigra, Chaparral and Cacao vein system, as well as from the newly-developed Atravesada and Panteon underground targets (see figures).

Calibre is currently processing ore at El Limon from the Santa Pancha underground mine and an open-pit developed on the Limon Central deposit, which covers approximately 500 metres of the known 2.5-kilometre-long El Limon vein system. The El Limon vein system remains open along strike and at depth.

Highlights and Key Drill Intercepts (2018 and 2019 drilling completed by B2Gold)

Limon Central

• Drilling returned high-grade gold intercepts from the Limon Central open-pit zone, including:

9.19 g/t Au over 28.10m Estimated True Width (“ETW”) in hole LIM-18-4227;
10.53 g/t Au over 23.60m ETW in hole LIM-18-4327;
8.66 g/t Au over 26.40m ETW in hole LIM-18-4235; and
9.45 g/t Au over 22.92m ETW in hole LIM-18-4251.



Limon Norte

• Drilling returned high-grade gold intercepts from the Limon Norte open-pit zone, including:

10.82 g/t Au over 20.42m ETW in hole LIM-18-4359;
9.66 g/t Au over 20.63m ETW in hole LIM-18-4267;
20.24 g/t Au over 8.95m ETW in hole LIM-18-4363;
5.49 g/t Au over 32.31m ETW in hole LIM-18-4361;
6.54 g/t Au over 12.00m ETW in hole LIM-18-4241; and
9.00 g/t Au over 6.42m ETW in hole LIM-18-4262.



Tigra

• Drilling returned high-grade gold intercepts from the Tigra open-pit zone, including:

16.50 g/t Au over 6.08m ETW in hole LIM-18-4272; and
17.97 g/t Au over 5.55m ETW in hole LIM-18-4281.



Chapparal

• Drilling returned high-grade gold intercepts from the Chapparal open-pit zone, including:

14.28 g/t Au over 7.30m ETW in hole LIM-18-4237; and
2.99 g/t Au over 25.47m ETW in hole LIM-18-4232.



Cacao

• Drilling returned high-grade gold intercepts from the Cacao open-pit zone, including:

6.82 g/t Au over 4.56m ETW in hole LIM-18-4374; and
4.56 g/t Au over 4.08m ETW in hole LIM-18-4300.




Atravesada

• Drilling returned high-grade gold intercepts from the Atravesada underground target, including:

31.38 g/t Au over 2.68m ETW in hole LIM-18-4302;
18.42 g/t Au over 4.07m ETW in hole LIM-18-4351; and
51.65 g/t Au over 1.19m ETW in hole LIM-18-4358.



Panteon

• Drilling returned high-grade gold intercepts from the Panteon underground target, including:

10.62 g/t Au over 5.44m ETW in hole LIM-19-4400; and
7.96 g/t Au over 7.17m ETW in hole LIM-19-4397.



All 2018 and 2019 B2Gold drill results have been incorporated in the most recent resource estimate for El Limon; see Calibre NI 43-101 Technical Report on El Limon dated August 30, 2019 filed on Calibre’s profile on SEDAR.

Russell Ball, Chief Executive Officer of Calibre stated: “The El Limon district has produced over 3.4 million ounces of gold and I am confident that we are in a truly world-class, low-sulphidation epithermal system. B2Gold’s recent drilling intercepted high-grade mineralization over substantial widths and these targets represent an excellent opportunity to expand reserves and resources, both at depth and along strike. Calibre will commence drilling at Limon Norte in early November.”

Calibre’s initial 7,000-metre drilling program for the fourth quarter of 2019 and 2020 will target extensions at Limon Norte, Tigra-Chaparral and Atravesada. Additional, concurrent target delineation exploration programs will commence at Lourdes, San Antonio and Guanacastal, which will include geological mapping, surface geochemical sampling and trenching for a total cost of approximately US$2.9 million.

Overview

Previous drilling by B2Gold at El Limon focused on a 2.5-kilometre-long section of the El Limon vein system comprised of the Limon Sur, Limon Central, Limon Norte, Tigra, Chaparral and Cacao mineralized zones. The drill program included step-out holes designed to test the mineralized system along strike and at depth, as well as a significant amount of infill drilling to upgrade inferred resources to indicated resources.

A total of 20,748 metres was drilled in 116 holes along the El Limon vein system in 2018. Based on the success of the 2018 drilling campaign, B2Gold obtained a mine permit for the El Limon vein on October 5, 2018. Current open-pit production began in December 2018 at Limon Central.

Other advanced exploration targets which were drilled in 2018 and 2019 include the Atravesada and Panteon targets which are located next to existing infrastructure and are extensions to the current underground mining operations, Veta Nueva and Santa Pancha. A total of 7,152 metres was drilled in 36 holes.

Along the current and past producing Santa Pancha vein system, 2,110 metres was drilled in 14 holes at the Santa Pancha Sur, Mercedes SW and Hagie targets. In addition, early stage reconnaissance drill testing programs were completed at the San Antonio, Tecomapas and Ramadas veins totaling 1,898 metres in 21 holes.

El Limon Vein – Traced by Drilling Over 2.5 kilometres

Limon Central

Shallow, northeast dipping (45-50°), central section of the El Limon vein system is characterized by its high grade, good continuity and large vein width of up to 28 metres. A total of 11,095 metres of infill and step-out drilling was completed in 61 holes in 2018. The zone has a current indicated resource of 2.01 Mt, grading 4.24 g/t Au, containing 274,000 ounces of gold and a current inferred resource of 1.2 Mt, grading 5.83 g/t Au, containing 226,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR). Production began at Limon Central in December 2018.

The Limon Central ore-shoot has been drilled to a depth of 250 vertical metres with recent positive drill results showing the potential for expansion at depth. Highlights of deep holes drilled within the zone include:

6.66 g/t Au over 12.23m ETW (LIM-18-4299);
3.88 g/t Au over 14.35m ETW (LIM-18-4309);
5.61 g/t Au over 6.30m ETW (LIM-18-4295); and
3.63 g/t Au over 7.25m ETW (LIM-18-4303).

Limon Norte

Located immediately north of the producing Limon Central zone, Limon Norte is characterized as a shallow, east-northeast dipping (40-50°) vein containing high grade gold over 20 metre intervals. A total of 2,564 metres of infill and step-out drilling was completed in 18 holes in 2018. The zone has a current inferred resource of 836 kt, grading 5.43 g/t Au, containing 146,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR).

The Limon Norte ore-shoot has been defined to a depth of 150 vertical metres (60% of the depth of Limon Central) and shows potential for expansion at depth. Highlights of holes drilled in 2018 include:

10.82 g/t Au over 20.42m ETW (LIM-18-4359);
6.54 g/t Au over 12.00m ETW (LIM-18-4241); and
4.01 g/t Au over 6.44m ETW (LIM-18-4310).

Tigra-Chaparral

Located north of the Limon Norte zone is a shallow, east-northeast dipping (45-50°) vein similar to the Limon Central and Limon Norte zones with high grade gold over 5 metre intervals. A total of 4,676 metres of infill and step-out drilling was completed in 22 holes in 2018. The zone has a current inferred resource of 487 kt, grading 6.01 g/t Au, containing 94,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR).

The Tigra-Chaparral zone has been drilled to a depth of 200 vertical metres with two high-grade ore shoots currently open at depth to the north and south. Highlights of deep holes drilled in 2018 include:

17.97 g/t Au over 5.55m ETW (LIM-18-4281);
9.69 g/t Au over 4.60m ETW (LIM-18-4232);
42.20 g/t Au over 2.22m ETW (LIM-18-4272); and
3.53 g/t Au over 4.61m ETW (LIM-18-4231).

Cacao

Shallow, northeast dipping (50-55°) vein located at the northwest end of the El Limon vein system. Recent high-grade drill intercepts have shown similarities to the mineralization observed within the Central and Norte zones. Additional drilling is required to evaluate the potential of this newly discovered extension of the El Limon vein system.

Atravesada

Past producing, high grade underground target located 200 metres along strike to the northeast from the Veta Nueva underground operations which currently have an indicated resource of 505 kt, grading 4.07 g/t Au, containing 66,000 ounces of gold (see Calibre NI 43-101 Technical Report on the El Limon Mine, Leon and Chinandego Departments, Nicaragua dated August 30, 2019 filed on Calibre’s profile on SEDAR). A total of 3,570 metres of infill and step-out drilling was completed in 20 holes in 2018.

The Atravesada ore-shoot has been drilled to a depth of 200 vertical metres. Mineralization is currently open at depth across the 400-metre-wide ore-shoot.

Panteon

Past producing, northwest oriented, high-grade underground vein target located 200 metres to the west of the current and past producing Santa Pancha vein system. Panteon is a shallow, northeast dipping (43°) vein at the southeast end of the trend and may allow for mining from the southern end of the Santa Pancha underground development. A total of 3,582 metres of infill and step-out drilling was completed in 16 holes in 2018 and 2019.

The southeastern section of the Panteon structure has been drilled to a vertical depth of 250 metres and is open at depth across the 150-metre-wide ore-shoot.

Gold Mineralization at El Limon

Gold mineralization at El Limon is typical of low-sulphidation, epithermal gold vein systems. The mineralization is strongly structurally controlled with veins forming along pre-existing fault planes and occupying extensional openings which occurred during the time of emplacement. Evidence also exists for significant post mineral movement along localized structures in the form of mineralized tectonic breccias.

Veins are quartz dominant with lesser amounts of calcite and adularia. Pyrite is the dominant sulphide present in quantities less than one percent. Occurring with the pyrite are trace amounts of chalcopyrite, sphalerite, arsenopyrite, and gold telluride minerals. Gold is generally very fine grained and is present in multiple events including primary colloform banded quartz and high energy, multi-phase, silicified breccias that make up the veins. Low grade gold mineralization can extend tens of metres into the host rock related to auxiliary quartz dominant stringer veinlets.

Current and past producing veins are approximately one to two kilometres in length, with widths ranging from less than 1 metre to greater than 25 metres. Ore shoots along the principal structures extend from 50 metres to greater than 500 metres horizontally and from 50 metres to greater than 300 metres vertically.

[ThSeeker]

Gold Production of Between 32,000 and 35,000 ounces

Calibre Mining Provides Partial Fourth Quarter 2019 Guidance: Expects Gold Production of Between 32,000 and 35,000 ounces at All-In Sustaining Costs(2) of Between US$950 and US$980

October 21, 2019

VANCOUVER, British Columbia, Oct. 21, 2019 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (“Calibre” or the “Company”)(TSX: CXB) is pleased to announce production and cost guidance for the period from October 15, 2019 to December 31, 2019 after completing the acquisition of the El Limon and La Libertad mines from B2Gold Corp. (“B2Gold”), effective October 15, 2019. As of the transaction close, Calibre has a strong balance sheet with approximately CDN$45 million in cash and a multi-asset production platfor­­m with significant near-mine, district-scale exploration potential.

Russell Ball, Chief Executive Officer of Calibre stated: “As anticipated, we are processing higher grade ore from the El Limon Central pit. In addition, at La Libertad processing of higher-grade ore from the recently developed Jabali Antenna open-pit commenced in the fourth quarter.”

Looking forward, “I am excited about the near-mine exploration opportunities at La Libertad, El Limon and the Pavon project. Drilling has already commenced at the Buenos Aires target at La Libertad, with expansion drilling at El Limon Central scheduled to begin in early November.”

El Limon

El Limon is expected to produce between 14,000 and 17,000 ounces of gold between October 15 and December 31, 2019 at all-in sustaining costs (“AISC”)(2) between US$950 and US$990 per ounce. As per B2Gold’s 2019 guidance, gold production was forecasted to be weighted towards the second half of 2019 as additional high-grade ore from the new El Limon Central open pit is processed. AISC were forecasted to decrease significantly in the second-half of 2019 due to a combination of higher gold production and the timing of sustaining capital expenditures(3).

La Libertad

La Libertad is expected to produce between 17,000 and 20,000 ounces of gold between October 15 and December 31, 2019 at AISC(2) between US$930 to US$960 per ounce. As per B2Gold’s 2019 guidance, gold production was forecasted to be weighted towards the second half of 2019 as a result of processing higher-grade ore from Jabali Antenna. AISC were forecasted to decrease significantly in the second-half of 2019 due to (i) higher gold production and (ii) the timing of sustaining capital expenditures related to the tailings storage facility expansion(3). As part of an ongoing efficiency review, the Company has idled one of the two ball mills reducing throughput to approximately 1.6 Mtpa (from 2.2 Mtpa), but at significantly higher margins.

The Company intends to elaborate on its 2020 exploration plan during November 2019. In addition, the Company will provide 2020 production and cost guidance in early December 2019.

[ThSeeker]

Calibre Announces Graduation to TSX; Trading to Recommence on October 21, 2019

October 18, 2019

Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce that it has received final approval for the listing of its common shares on the Toronto Stock Exchange (“TSX”).

Calibre’s common shares will commence trading on the TSX at the opening on Monday, October 21, 2019, continuing to trade under the symbol CXB. Calibre’s common shares will be delisted from the TSX Venture Exchange at the commencement of trading on the TSX.

[ThSeeker]

Calibre to commence trading on, the Toronto Stock Exchange on October 21

Since announcing the Transaction on July 2, 2019, trading of the shares of the Company has been halted. The Company expects to graduate to, and commence trading on, the Toronto Stock Exchange on October 21, 2019.

[ThSeeker]

Corp presentation (shows we are undervalued)
https://www.calibremining.com/site/assets/files/4032/new_calibre_mining_october_10_final_2019.pdf

[ThSeeker]

Calibre Mining Completes Acquisition of El Limon and La Libertad Gold Mines From B2Gold
BY GlobeNewswire
— 7:20 PM ET 10/15/2019

VANCOUVER, British Columbia, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Calibre Mining Corp. ( CXBMF ) (the “Company” or “Calibre”) is pleased to announce the closing of the transaction with B2Gold Corp. (“B2Gold”) pursuant to which Calibre has acquired B2Gold’s interest in the El Limon and La Libertad gold mines, the Pavon gold project and additional mineral concessions in Nicaragua for aggregate consideration of US$100 million, which was paid with a combination of cash, common shares, a convertible debenture and a US$10,000,000 cash payment, or at the option of B2Gold, a portion in common shares of Calibre, which will be payable one year from the date of closing (the “Transaction”).

Following the completion of the Transaction, B2Gold owns an approximate 30% direct equity interest in Calibre (for further details on the Transaction, please refer to the Company’s press release dated July 2, 2019). The Company reported a cash balance of CDN$45 million after the cash payment to B2Gold of US$40 million as partial consideration for the Transaction.

Russell Ball, Chief Executive Officer of Calibre stated: “We look forward to partnering with B2Gold and building on the solid foundation they created over the past decade. Calibre moves forward with quality gold production from two mines that will generate significant free cash flow at current metal prices that we intend to use to fund our extensive, near-mine exploration opportunities to add value and extend mine life.”

Mr. Ball added, “Calibre is committed to maintaining B2Gold’s high standards of responsible mining, government relations, health, safety, environmental and corporate social responsibility. The B2Gold team has been tremendous to work with and I would like to thank them for the fairness, respect and transparency they demonstrated as we worked to negotiate and close this transaction.”

Trading Halt and Graduation

Since announcing the Transaction on July 2, 2019, trading of the shares of the Company has been halted. The Company expects that the shares will remain halted until graduation and commencement of trading on the Toronto Stock Exchange, which is expected to occur on Monday, October 21, 2019.

Calibre Mining Corp.

“Russell Ball”

Russell Ball, Chief Executive Officer

For further information, contact:

Ryan King, VP Corp Dev & IR
[phone]
[e-mail]

[ThSeeker]

B2Gold completes Nicaragua asset sale;,becomes Calibre's top shareholder
Oct. 16, 2019 8:01 AM ET |About: B2Gold Corp. (BTG)|By: Carl Surran, SA News Editor

B2Gold (NYSEMKT:BTG) says it completed the sale of its El Limon and La Libertad gold mines, the Pavon gold project and other mineral concessions in Nicaragua to Calibre Mining (OTCPK:CXBMF) for $100M in cash and stock.

The deal makes BTG Calibre's largest shareholder, with a ~31% stake vs. 11.9% before the close of the transaction.

The two miners entered into an investor rights agreement which provides, among other things, that as long as BTG holds at least 10% of Calibre shares, it will have pro rata participation rights and piggyback registration rights.

[stockgringo]

Massive news out

[geopic]

Yes, Okay, with about 2/3 left to report. There has not been much to cheer about, these past two years… perhaps this will help to minimize losses.
g.p.