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Caliber reports new high-grade sulfide mineralization at the Gold Rock Project. Signs of a deep carlin-type feeder system. High grade drilling results include 6.8 g/t gold over 4.6 meters and 6.6 g/t gold over 5.8 meters.Canadian Business Journal

VANCOUVER, British Columbia, November 22, 2022 (GLOBE NEWSWIRE) — Caliber Mining Co., Ltd. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or “Company”) is pleased to announce the results of its 2022 Drill Program at its wholly owned Gold Project in White Pine County, Nevada, Battle Mountain. Think – Eureka Gold Trend. The federally licensed project is located within 78 km of the expected location.2 A land package containing a number of high priority targets.

The original objective of the 2022 drilling program was to de-risk Gold Rock, near-surface oxide projects through infill and condemnation drilling, geological classification and structural modeling. During the program, Caliber intersected high-grade sulfide mineralization in areas previously untested by drilling. Historical drilling at Gold Rock targeted shallow oxide mineralization. As shown in Figure 2, mineralization plummets from south to north along both branches of the Gold Rock anticline and these gold shoots remain open to depth. Multi-element analyzes reveal increases in arsenic, bismuth and tellurium geochemistry, suggesting a highly favorable gold environment, whereas magnetic data suggest a large, deep-seated Indicates low magnetism.

Highlighting Outcomes of the 2022 Training Program

  • 5.5 g/t Au over 3.0 meters in hole GC22-008. 7.1 g/t Au over 2.1 meters in hole GC22-013.
  • 6.6 g/t Au over 5.8 meters in hole GC22-015. 4.1 g/t Au over 8.1 meters in hole GC22-016.
  • 3.0 g/t Au over 19.2 meters in hole GCM22-001. 4.6 g/t Au over 4.6 meters in GR22-006 bore.
  • 6.7 g/t Au over 3.0 meters in GR22-091 holes. 6.8 g/t Au over 4.6 meters in GR22-102 bore.
  • 5.5 g/t Au over 3.0 meters in GR22-115 holes. 4.1 g/t Au over 3.0 meters in GR22-151 holes.
  • 3.2 g/t Au over 43.8 meters, including 6.1 g/t Au over 8.1 meters in hole GC22-018.
  • 5.3 g/t over 3.0 meters in GR22-152 bore. 8.0 g/t over 1.52 meters in hole GR22-041

Note: All holes were drilled at angles of -45 to -90 degrees with an azimuth designed to intersect the structure of interest as perpendicularly as possible. Some drill holes and intercepts reported here do not perpendicularly intersect the mineralization and do not represent an accurate ‘true width’.

Caliber President and CEO Darren Hall said:: “We are very pleased with these high-quality results from the Gold Rock project. Existing federal permits allow for sulfide treatment at the processing stage, so the potential for grading at depth is high.” Only shallow drilling has been completed to date, confirming the presence of gold oxide deposits in a small portion of the total land package, which is consistent with Pan Mine deposits and mineralogical but with better grades and recoveries (see news release dated June 29, 2022).These new results indicate a large-scale, unvalidated Carlin-style mineral system. indicates that there may be deep

“We are also pleased to announce that our 100% owned Pan Mine, adjacent to the Gold Rock Project, has received approval from the U.S. Bureau of Land Management to modify its existing mining permit. By expanding two waste rock areas, this change will add an additional five years of mining to Pan Mine Heap Reach operations in Nevada.”

said Tom Gallo, Senior Vice President, Growth of Caliber.: “Our location on Battle Mountain – Eureka’s gold trend suggests that Gold Rock is a viable target for deeper, higher grade mineralization, as found in other rich deposits to the north.” (See Figure 3 here), further supporting our belief that there is a tremendous Opportunity exists.2 property package. His 2023 drill program at Gold Rock is focused on testing this target in depth. We believe it is quite possible that there are millions of ounces of Carlin-style targets deep within the entire Gold Rock Corridor. ”

Link 1 – Figure
link 2 – drilling table

Quality Assurance/Quality Control

Caliber Mining maintains a Quality Assurance/Quality Control (“QA/QC”) program for all exploration projects using industry best practices. Critical elements of a QA/QC program include the insertion of assay standards, blanks, and replicates into the sample stream to ensure assay lab results are within specified performance levels. Downhole anomaly surveys are provided by International Direction Services utilizing surface recording gyroscopes and by trained drill crews operating North Seek gyroscopes provided by REFLEX. RC drilling was performed by Boat Longyear of Salt Lake City, Utah and Alford Drilling of Elko, NV. The assay was performed by ALS and the fire assay was determined with a 30-gram charge of his AAS finish. Additional cyanide leaching assays have also been completed. ALS is ISO/IEC 17025:2017 certified.

qualified person

The scientific and technical information contained in this news release was approved by David Schonfeldt P.Geo, Chief Corporate Geologist at Caliber Mining and a “Qualified Person” under National Instrument 43-101.

On behalf of the Board of Directors

“Darren Hall”

Darren Hall, President and CEO

For more information, please contact:

Ryan King
Senior Vice President, Corporate Development & IR
Caliber Mining Co., Ltd.
Phone: 604.628.1010
E: [email protected]
W: www.calibremining.com

About Caliber Mining Corporation

Caliber is a Canadian-listed, growing gold producer focused on the Americas, with a strong pipeline of development and exploration opportunities in Nevada and Washington, USA, and Nicaragua. Caliber is focused on delivering sustainable value to its shareholders, communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, proven management team, strong operating cash flow, increasing development projects and district-wide exploration opportunities, Caliber unlocks significant value.

Note

All holes were drilled at an angle of -50 to -90 degrees with an azimuth designed to intersect the structure of interest as perpendicularly as possible. Therefore, most intercepts reported here are believed to be near-true widths. Some of the holes are offset along the fold edges and as a result do not represent the “true width”. We have a critical QA/QC program in place that includes inserting assay standards, blanks, and replicates into the sample stream to ensure assay lab results are within specified performance levels . Downhole anomaly surveys are provided by International Direction Services utilizing surface recording gyroscopes and by trained drill crews operating North Seek gyroscopes provided by REFLEX.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements regarding anticipated future events or developments contained in this news release are forward-looking statements. Forward-looking statements are statements that are not historical facts and include “expects,” “plans,” “predicts,” “projects,” “goals,” “could,” are identified by words such as “budget”, “estimate”, “intend” or “believe” and similar expressions or negative connotations thereof or that event or condition “will”, “will”, “could” , “may,” “should,” or “should” forward-looking statements necessarily involve assumptions, risks and uncertainties, among which are Some things are beyond Caliber’s control. Please refer to Caliber’s Annual Information Form for the year ended December 31, 2021 for a list of risk factors that apply to us. Available at www.sedar.com. This list is not an exhaustive list of factors that may affect Caliber’s forward-looking statements, including the potential for sanctions to be implemented as a result of U.S. Executive Order 13851, dated October 24, 2022. There is none.

Caliber’s forward-looking statements are based on applicable assumptions and factors that management believes to be reasonable as of the date hereof based on information available at the time. Caliber undertakes no obligation to update any forward-looking statements if circumstances or management’s beliefs, expectations or opinions change, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements may differ materially from those expressed or implied in these forward-looking statements. . Therefore, undue reliance should not be placed on forward-looking statements.

CBJ Newsmaker

Caliber reports new high-grade sulfide mineralization at the Gold Rock Project. Signs of a deep carlin-type feeder system. High grade drilling results include 6.8 g/t gold over 4.6 meters and 6.6 g/t gold over 5.8 meters.Canadian Business Journal

Source link Caliber reports new high-grade sulfide mineralization at the Gold Rock Project. Signs of a deep carlin-type feeder system. High grade drilling results include 6.8 g/t gold over 4.6 meters and 6.6 g/t gold over 5.8 meters.Canadian Business Journal

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