Calibre Mining Corp. (TSX VENTURE:CXB) has announced that it has completed an initial field work program on the Santa Maria prospect in north east Nicaragua and has discovered a high grade epithermal gold vein system over a 600 metre strike length with grab and composite chip panel samples grading up to 64.1 g/t Au (1.87 oz/t Au) and 109 g/t Ag (3.18 oz/t Ag).
The program consisted of reconnaissance geologic mapping over a 9 square kilometre area, a 4 line-kilometre soil sampling survey and 37 rock chip and grab samples. Mapping has outlined a 2 kilometre long, north striking, epithermal vein system hosted in andesite volcanics. Soil sampling results over a portion of this area outlined an open ended, 800 metre by 40 metre coincident gold and copper in soil anomaly (with results up to 828 ppb Au and 710 ppm Cu). Multiple rock chip and grab samples coincident with the soil anomaly returned values of over 9 g/t Au from quartz veins and andesite tuffs. The Santa Maria prospect is subject to an option agreement with B2Gold Corp ("B2Gold"), whereby Calibre is acting as operator and B2Gold may earn up to a 51% interest in specific concessions within the Borosi area by funding CDN$ 8 million in expenditures over a 5 year period.
"This is an exciting grass roots discovery of a new high grade epithermal gold vein system in the Mining Triangle region of Nicaragua that we believe speaks to the outstanding exploration potential of our Borosi concessions," stated Robert Brown, President & CEO of Calibre. "By following a disciplined and focused exploration program that included investigating mineral occurrences reported by local inhabitants, our exploration team in Nicaragua has discovered a new high grade vein system that is concealed by saprolitic cover. Although this prospect is only 3 kilometres from the Rosita-Bonanza road, it is in area that until now had been relatively under explored. Follow-up exploration at the Santa Maria prospect will include expanding the current soil grid coverage, additional rock chip sampling and preparation of drill targets on this high grade discovery."
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates intothe soil and rock sample strings. Samples are placed in sealed bags and shipped directly to ALS CHEMEX labs in North Vancouver, BC for gold fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Roger March, P.Geo., a professional geologist registered in the Province of Newfoundland & Labrador and a qualified person as defined by NI 43-101.
Source: Calibre Mining Corp.