Alder Resources has started the drill program at the Rosita gold-copper-silver project of Calibre Mining. This project is located on the Borosi property of the company in northeast Nicaragua.
The reverse circulation (RC) drilling of 1,000 m will be included in the primary drilling to follow-up the previous mineralized drilling intercepts beneath the Santa Rita pit. Additionally, Alder will drill test the significant dumps located around the Santa Rita pit. Up to 4,000 m of further RC drilling will examine the mineralization in other high potential regions, which has included the Bambana porphyry copper target and the R-13 zone.
Alder has earned a 65% of interest in the Rosita D concession by giving 1,000,000 shares of Alder to Calibre and spends $4,000,000 for exploration for a period of four years. It is the operator of the project.
The Rosita D Concession has Santa Rita deposit’s significant open pit, in which an ore of 5.37 Mt grading 0.93 g/t gold, 2.06% copper and 15.08 g/t silver was mined. A comprehensive vertical channel sampling program has been completed by Alder around the old mine dumps’ peripheries near the Santa Rita pit and Alder has commenced the trenching program at the Bambana target region. The location of the Bambana prospect is 4 km to the northwest part of the Santa Rita open pit, where Calibre performed drill testing during 2010. Calibre yielded 0.25 g/t gold, 0.51% copper and 10.41 g/t silver over 11.5 m and 0.43% copper over 42 m.
Calibre’s Chairman, Douglas Forster, commented that Calibre has three active rigs on the Borosi property, which is in the "Mining Triangle" of northeast Nicaragua. Besides the RC drilling by Alder on the Rosita project, Calibre has one diamond drilling rig active at the Primavera project along with B2Gold. One diamond drill rig is performing a resource definition drilling at the company’s Risco de Oro project.
Source: http://www.calibremining.com/