Calibre reports maiden resource for Talavera deposit
Midtier gold producer Calibre Mining on Wednesday announced the production of its one-millionth ounce of gold in Nicaragua and a maiden mineral resource estimate for its Talavera deposit.
The mineral resource, which will be included in the company’s 2024 year-end mineral resource statement, includes 3.85-million tonnes of inferred mineral resource averaging 5.09 g/t gold, yielding 630 000 oz of gold.
The extension of the historical mine, and discovery of several parallel sub vertically dipping veins has led to the delineation of the new resource.
Talavera represents another opportunity across the prolific Limón property given its proximity to the processing facility. Recent drilling at Talavera continues to intersect high grade gold mineralisation about 750 m to the west of the past-producing Talavera underground mine and the resource remains open to the west, reaffirming the discovery and resource expansion potential of the deposit.
“I am pleased to report that Calibre has achieved a significant milestone with the production of our one-millionth ounce of gold in Nicaragua since becoming a producer in the fourth quarter of 2019. This accomplishment is particularly gratifying as we simultaneously increased our Nicaragua mineral reserves from 140 000 oz in the fourth quarter of 2019 to more than 1.1-million ounces at December 31, 2023,” said CEO Darren Hall.
Further, he said the announcement of a 630 000-oz mineral resource at Talavera highlighted the enduring nature of the Limón mine complex, which has been in continuous operation since the 1940s and has produced more than five-million ounces.
“Talavera offers strong expansion potential, with opportunities to leverage the existing underground infrastructure located adjacent to the resource from the past-producing mine. In 2025, our focus at Talavera will include expansion and delineation drilling while advancing environmental permits,” said Hall.
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