Calibre Mining has announced high grade gold and silver results from its exploration activities at the Riscos de Oro property in Nicaragua. The reported gold and silver results from its recently concluded drilling program helped boost the shares in the Canadian company up by 15% on Monday.
The company has a nine hole 2,500 meter diamond drilling exploration on the mine site located in north eastern Nicaragua. It found 5.44 grams per tonne gold and 404.55 grams per tonne silver over 2.2 meters in hole numbered RD1-015. In RD 11-016 it found 3.61 grams per tonne gold and 518.44 grams per tonne silver over 3.68 metres.
The Calibre Mining company owns 100% of the Riscos de Oro property. Robert Brown, President and CEO said that the 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.
He added that 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. The company has projects in Borosi, Nicaragua, Central America, Point Leamington, Newfoundland, Canada, Trundle, New South Wales, Australia, Cargo, New South Wales, Australia and Trend, Nevada, United States of America.