Following a successful drill campaign in 2020, Calibre updated its reserves and resource estimate. Between its two mining complexes, Calibre reported a 202% increase in reserves, which supports multi-year production growth.
This is the largest reserve base for these assets in the last ten years and the highest reserve grade on record. Reserves stand at 864k oz. Au @ 4.49 g/t Au. Furthermore, there was a 296k oz. Au increase in Libertad reserves, up from nil at year end-2019, while Limon's mineral reserves increase 98% to 568k oz. Au in 2020.
Companywide M&I and Inferred Resources now stand at 1.532m oz. Au @ 3.31 g/t Au and 1.314m oz. Au @ 4.72 g/t Au (including 701k oz. Au @ 4.93 g/t at Eastern Borosi). Calibre has multiple targets from which it plans to grow reserves and resources in 2021. In 2021, the company plans 7,500m of infill drilling at Eastern Borosi as the next potential "spoke" in its hub-and-spoke strategy. Calibre hopes to publish a pre-feasibility study (PFS) by this time next year.
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About the author
Chief Mining Analyst with GoldSeek.com and SilverSeek.com. Author of the Gold Seeker Report weekly newsletter and analyst at the 24K Gold Fund. Previously he was the Senior Mining Equity and Economic Analysis at The Morgan Report. He was a Co-Founder and Director of Lemuria Royalties, before it was acquired in March 2018. He also co-authored The Silver Manifesto with David Morgan in 2015.
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