The Volcan deposit is positioned roughly 5 km south of the corporate’s Libertad mill, which at the moment has over 1 million tonnes of surplus processing capability, and due to this fact, advantages from satellite tv for pc deposits inside a 400 km radius.
The invention at Volcan was made following Calibre’s drilling in 2021-2022 inside its exploitation concessions overlaying 411 km2 of the Libertad district, which has produced about 2 million oz. of gold. The deposit represents a vein pattern in step with these within the district that had been in manufacturing, most notably, Mahon.
In September 2023, Calibre delineated the primary open-pit useful resource for the deposit, totalling 508,000 tonnes of indicated materials averaging1.83 g/t for 30,000 oz. of gold, plus 1.79 million tonnes inferred at 2.28 g/t, yielding 131,000 oz. of gold.
“With an preliminary open pit useful resource averaging 2.0 g/t gold, 2023 drilling confirms that the deposit can host higher-grade, near-surface gold mineralization,” Corridor added.
With the receipt of its environmental allow, mixed with Volcan’s proximity to the Libertad mill, Calibre expects the deposit to contribute to its manufacturing profile within the second half of this yr.
Shares in Calibre Mining had a achieve of 0.2% by 11:35 a.m. ET on the most recent growth, giving the gold miner a market capitalization of C$1.62 billion.