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Calibre Mining Announces a 318% Increase in the Pavon Gold Project

Mining News - Published on Tue, 10 Dec 2019

Image Source: Calibre Mining Pavon Project
Calibre Mining Corp has provided an updated National Instrument 43-101 indicated and inferred resource estimate on its 100%-owned Pavon high-grade, open-pit, development stage gold project. Calibre CEO Mr Russell Ball said “The positive results from the updated Pavon resource estimate, with an average indicated resource grade in excess of 5 g/t Au, provides us with an opportunity to unlock significant value for all our stakeholders by processing the Pavon open pit material at our existing La Libertad mill. The Pavon resource is open at depth and along strike and we will be aggressively investing in resource expansion drilling and project development in 2020."

The Company plans to commence resource expansion drilling in July 2020 with a budget of 15,000 metres at an estimated cost of USD 3.75 million.

Pavon gold mineralization is associated with low-sulphidation quartz-adularia epithermal veins similar to gold mineralization at the Libertad mine. Gold is hosted in colloform banded quartz veins and multi-phase quartz vein-breccias with local high-grade gold also present in wall-rock quartz stockwork zones. Sulphide content is generally low consisting of minor pyrite and trace amounts of base metal sulphides.

Modeling was performed using GEOVIA Surpac® 2019 software with gold grades estimated using ordinary kriging interpolation methodology. Samples were composited at 2.0 metre down hole and composites were capped at 29.03 g/t Au for Pavon North, 75 g/t Au for Pavon Central and 17.18 g/t Au for Pavon South. The resource estimates are based on 14,523 metres in 108 drill holes and 138 surface trenches.

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Posted By : Yogender Pancholi on Tue, 10 Dec 2019
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