Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the "Company" or "Calibre") is pleased to announce final assay results for the completed 9 hole, 2500 metre diamond drill program at its 100% owned Riscos de Oro gold-silver property in north east Nicaragua. The results are highlighted by hole RD11-016 that intersected 3.61g/t gold and 518.44g/t silver over 3.68 metres (14.41 g/t AuEq1,2) and hole RD11-017 that intersected 9.31 g/t gold and 336.06 g/t silver over 3.90 metres (16.31 g/t AuEq1,2). Updated cross section and drill plan maps are available at www.ngchiwai.com.
Table 1 Summary Assay Results from the 2011 drill program at
Riscos de Oro Property, Nicaragua
- AuEq equivalent calculated using estimated gold price of US$1200/oz and silver price of US$25 per ounce.
- Metallurgical recoveries and net smelter returns are assumed to be 100%
- Diamond drill holes RD11-010, RD11-011, and RD11-012 were previously released (April 15th and May 16th, 2011)
"Calibre's exploration team has been very successful with the initial 2011 Riscos de Oro drill program by consistently delineating high grade gold and silver mineralization over a strike length of 600 metres and to a depth of 300 metres" stated Robert Brown, President and CEO of Calibre "the deposit remains open in all directions and the Company is planning an expanded program of infill and step out drilling in order to define the full extent of this impressive gold-silver system."
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the 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.
Calibre Mining Corp. is an aggressive, TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of intrusive related deposits in Central America. Major shareholders of Calibre include gold producer Yamana Gold Inc. and investment fund Sun Valley Gold.
Calibre Mining Corp.
Signed "Robert Brown"
Robert D. Brown, B.Sc., MBA
President and CEO
For further information contact:
Robert Brown - Vancouver, Canada
604 681 9944
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.