Calibre Mining Corp. (TSX:CXB) (OTCQX:CXBMF) has recently announced that the Ministry of the Environment and Natural Resources in Nicaragua has granted Calibre the crucial environmental license for the development and production of the Pavon Central open-pit mine.
“The approval of Pavon Central marks a significant milestone in the Company’s efforts to organically grow production, utilizing a portion of the installed excess capacity at our Libertad mill,” said Darren Hall, Calibre’s Chief Executive Officer.
Hall also said, “From the 6.49 g/t gold reserve, we are excited to introduce Pavon Central into the development profile, which will power grade-driven production growth in 2023 and 2024.” He would go on to elaborate that the company would continue to collaborate closely with local communities, regulatory industries and the stakeholders of the project.
Calibre began mining at Pavon Norte in 2021, the first of three known gold occurrences in the district with mineral resources. Calibre is moving forward with the development of Pavon Central, to start production in the first quarter of 2023. The Pavon Norte and Central open-pit mines have combined end-of-year mineral reserves of 165,000 ounces at an average gold grade of 5.07 g/t for 2021.
Pavon Central is noteworthy in that it has an average reserve grade of 6.49 g/t gold, which is significantly greater than Pavon Norte’s average reserve grade of 3.28 g/t gold. The open pit mine is expected to contribute significantly to Calibre’s production expansion in 2023 and 2024.
Highlight Pavon Central Drill Results
- 5.08 g/t Au over 7.6 meters estimated true width (“ETW”) from 72.7 meters in hole PVC-21-046
- 4.21 g/t Au over 6.5 meters ETW from 32.0 meters in hole PVC-21-062
- 4.46 g/t Au over 9.8 meters ETW from 94.6 meters in hole PVC-21-078
- 8.58 g/t Au over 4.0 meters ETW from 145.3 meters in hole PVC-21-081.
Within the overall 32 kilometer-squared land package, where two rigs are presently operating, Calibre has found the potential for resource extension along strike and at depth at the Pavon vein system and additional vein targets.
Alan Bolt, Director General of the Centre for an Understanding with Nature (“CEN”), stated: “Having been approved by the population through public consultation and confirmed by the Ministry of the Environment, execution of Pavon Central will allow the local communities, CEN and Calibre to continue working together on the strengthening of native bee populations, forest and water restoration, and socioeconomic initiatives such as women’s entrepreneurship and healthier homes with smokeless stoves and access to clean water.
Bolt would later articulate how important Calibre’s presence was to improving the local economy and eliminating poverty in the region and also emphasized the company’s commitment to operating in a manner that would help successfully combat climate change.
Calibre is well-positioned to begin production from Pavon Central in the first quarter of 2023, with road building already underway.
Featured Image: Megapixl © Milslav78
