Rosita District Projects
The 214 km2 District is host to a series of advanced targets including the Santa Maria, high grade gold-silver low sulphidation epithermal vein system. Other advanced Targets include Minnesota, Terciopelo, and others previously within the B2Gold Joint Venture.
The Santa Maria Project consists of a well-defined low sulphidation epithermal mineralization. Previous work by Calibre includes 16.3 line kilometres of soil sampling (812 samples), 55 rock samples as well as geological mapping over 9 km2. Low Sulphidation Epithermal vein mineralization is confirmed over 800 metres of strike length, and inferred over a total strike length of three kilometres. Rock sample results include; 64.1 g/t Au, 109 g/t Ag, 0.513% Cu, and 3.75% Pb,. Soil results define a 1000m x 50-100m Au-Pb-Zn ± Cu soil anomaly with results to 666 ppb Au, 1190 ppm Pb, 1050 ppm Zn and 889 ppm Cu.
The central portion of the Santa Maria Project area has been subjected to intermittent artisanal mining activity along a strike length of 800m. Exposures are largely limited to shallow shafts and pits which have been excavated by artisanal groups; rare float material is located in some areas. Sampling by Calibre has consistently returned anomalous gold and silver with highlighted results including;
| Sample |
|
Lithology |
|
Type |
|
Au g/t |
|
Ag g/t |
|
Cu ppm |
|
Pb ppm |
| B10R0350 |
|
Quartz Vein |
|
Outcrop |
|
64.1 |
|
109.0 |
|
2110 |
|
1620 |
| B10R1421 |
|
Quartz Vein |
|
Outcrop |
|
22.3 |
|
26.4 |
|
2800 |
|
2590 |
| B10R5124 |
|
Quartz Vein |
|
Outcrop |
|
20.9 |
|
109.0 |
|
958 |
|
1120 |
| B10R0351 |
|
Quartz Vein |
|
Outcrop |
|
20.4 |
|
56.1 |
|
2760 |
|
2100 |
| B10R1420 |
|
Silicified Andesite |
|
Outcrop |
|
14.1 |
|
93.1 |
|
4130 |
|
23600 |
| B10R1507 |
|
Quartz Vein |
|
Float |
|
12.6 |
|
13.5 |
|
1250 |
|
2850 |
| B10R5128 |
|
Quartz Vein |
|
Outcrop |
|
11.0 |
|
66.0 |
|
5130 |
|
37500 |
The 100% owned Rosita District also hosts the Minnesota Gold Project. 2014 reconnaissance diamond drilling program at the Minnesota gold project consisted of seven widely spaced drill holes totaling 992 metres which tested three areas along the 3.5 km by 1.0 km trend of the defined by a strong auger and gold-in soil anomaly and surface rock sampling. Drilling results include: 31.35 metres grading 0.63 g/t Au including 12.40 metres grading 1.07 g/t Au and 47.0 metres grading 0.63 g/t Au including 4.50 metres grading 3.43 g/t Au.
Additional Targets within the 100% owned Rosita District include Terciopelo, Fruta de Pan, and others.
Additional 100% Owned Projects
Calibre controls 100% of three additional areas; Northern Siuna District (214 km2), Carpatos District (73 km2), and the El Paste Concession (115 km2).
The Northern Siuna District; is located three kilometres north of the La Luz Project optioned to Centerra Gold. This is the largest of the 100% owned areas at 214 km2 and hosts the Montes de Oro Gold Project where the 2015 Phase I drilling program intercepted 37.7 metres grading 1.19 g/t Au, 12.97 metres grading 2.60 g/t Au, and 18.8 metres grading 0.97 g/t Au. Additionally Calibre continues to advance a number of La Luz "look-alike" targets within the district. Additional targets include Mina Victoria Project which includes anomalous rock and soils sampling which has defined an anomaly 3.5 km by 2.0 km. Additional zones include Cerro Aza, where a gold in soil anomaly was extended in 2015, Roskilete, and San Miguel.
The Carpatos District; is located north of the Calibre/Iamgold Eastern Borosi Project. The 73 km2 Carpatos District has been the subject of surface mapping and rock and soil sampling. Existing target include a series of kilometre-scale anomalous zones with variable concentrations of precious and base metals. The largest anomaly is the Central Carpatos Target which is a circular topographic feature with a central diorite intrusion hosted within altered andesite volcanics. Mineralization consists of centimetre-scale massive bands of oxidized magnetite that are accompanied of thin banded veins and veinlets of granular quartz and magnetite with minor sphalerite and scarce veinlets of oxidized sulphides.
The El Paste Concession; covers a 115 km2 area of highly prospective geology 75 km southwest of Siuna. An initial stream sediment sampling program completed in 2015 generated significant gold anomalies requiring follow-up work. A total of 81 samples were collected and analysed for gold and 31 elements. Two kilometre-scale anomalies were generated including; 1) a broad western area defined by 17 samples anomalous in gold and several pathfinder elements outlining a target area 6.0km by 1.0-1.5 km and 2) a second anomaly estimated to be approximately 4.0km by 3.0km on the eastern edge of the sampled area highlighted by the highest gold value (680 ppb Au) returned in the survey.
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.