Calibre Mining Corp. and Canterra Gold Inc. have begun drilling at the La Luz Gold-Silver Project in northeast Nicaragua.
"Calibre is extremely pleased to have been able to start field activities and drilling so quickly following the signing of the agreement with Centerra,” Calibre President and CEO Greg Smith said. “It is a testament to our in-country personnel and the support of the local governments and communities that we have been able to commence exploration and drilling in a timely manner. We look forward to unlocking the potential of this historic mining area."
The companies will drill approximately 4,900 feet through five holes, focused on the Cerro Aeropuerto portion of the La Luz mine, where there are an estimated 707,750 oz of gold and 3.1 oz. of silver in just over 6 million tons of graded materials. The materials are rated 3.64 g/t and 16.16 g/t respectively.
Soil sampling and mapping work is also underway to identify further opportunities at the site. Calibre and Centerra have collected approximately 950 of the 1,100 projected samples from the area around the La Luz-Cerro Aeropuerto project as well as the Santa Rita – Tiberon project.
The La Luz mine is among nearly 200 square miles of mining concessions in Nicaragua's Mining Triangle owned by Calibre.
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