Calibre Mining has started a proposed 6,000 m diamond drilling campaign at its Riscos de Oro project, which is a epithermal stockwork system having a gold-silver vein, in northeast Nicaragua.
Formerly, the company had completed two drill programs, 4,600 m in total, at its project and successfully outlined the high-grade mineralization of gold and silver over 600 m of strike length and at a depth of 300 m. The company has cut 384.86 g/t silver and 4.23 g/t gold over 8.53 m in the hole RD10-009, 288.25 g/t silver and 10.25 g/t gold over 5.40 m in the hole RD11-010 and 211.87 g/t silver, 7.69 g/t gold over 10.60 m in the hole RD11-012.
The CEO and President of the company, has commented that the company is delighted to start a wide resource definition drill campaign at its Riscos de Oro deposit. This striking and excellent gold-silver structure is open in all directions for extension. After the completion of the ongoing drill program, Calibre plans to complete the initial NI 43-101 resource estimation for the deposit.
The ongoing resource definition drilling will be the most important and wide-spread exploration program of the company. The program will contain step out and infill drilling to outline the complete high-grade mineralization level identified in the former drilling program, reconnaissance drilling to examine the latest gold in soil anomalies along the structure of 7.0 km long hosting the Riscos de Oro deposit and deeper drilling to outline the geometry and level of several stacked silver-gold stockwork zones.
At first, the drilling program will be performed using one drill rig and the second rig will be moved to the project in September 2011. The company has allotted a total budget of $1.6 million for this diamond drill campaign.
Source: http://www.calibremining.com/