Calibre Mining has obtained the entire assay results from the first two trenches that were dug on the new Primavera prospect, which is a gold-copper prospect located in the Borosi Project, northeast Nicaragua.
Stockwork quartz veining exposed in trench PRTR11-005
The company has encountered unbroken mineralization of gold and copper at both the trenches. It has cut 1.53 g/t gold, 680 ppm copper over 51.25 m in the trench PRTR11-005 and 0.78 g/t gold, 980 ppm copper over 107.0 m in the trench PRTR11-010.
The two trenches are situated around 100 m apart from the PRTR11-010 trending north to south and PRTR11-005 trending east to west. These trenches belong to five newly dug trenches, which are situated in an 850 x 300 m area of coincident copper and gold soil anomaly. Trench mineralization has featured copious stockwork veining and the region is considered to have potential porphyry related copper and gold mineralization. The mineralized interval is open along the trenches in both the directions and the company is continuing sampling and the trenching campaign.
Calibre’s Chairman has commented that the company is positive by the primary trench results from this wide gold-copper system. This fresh discovery has shown the underexplored nature of the significant Mining Triangle, northeast Nicaragua. Besides trenching at Primavera, the two drilling rigs are performing a resource definition drilling at the Riscos de Oro project.
This Primavera prospect depends on an option contract with B2Gold, in which the operator of the prospect is Calibre and B2Gold may possibly get a 51% interest by paying expenses of CDN $8 million by June 2014 for the detailed concessions in the Borosi region. When the earn-in is over, B2Gold may be chosen to perform a separate prospect in the concessions by means of a Preliminary Economic Assessment for a further 14% of interest in the prospect.