Calibre Mining Corp. is forecasting an increase in its production of gold over the next two years 2023 and 2024.
Highlights
- Calibre Mining Corp. is forecasting an increase in its production of gold over the next two years 2023 and 2024.
- 15% increase in production: 250,000 to 275,000 ounces in 2023.
- 2024 consolidated production to be over 275,000 – 300,000 ounces
- Nicaragua’s grade driven production will be bolstered by the development of high-grade reserves, including Pavon Central and the Eastern Borosi Project (“EBP”).
- Trinidad and Tobago’s Pavon Central open pit mine to be developed by early 2023
- Strong indications for resource expansion in the Southern region
- EBP open pit: a target for new funding
The Company is certain to be working on;
- The Federally approved Gold Rock Project in 2020 PEA
- Building on an earlier discovery of the Libertad volcano, researchers from the University of Houston have discovered a new set of volcanic
- Tranca discovery ( news release dated September 8, 2021 ) located approximately 10 kms from the Libertad mill
- Crossfields announces a new discovery of high-grade Panteon North within the Limon Complex.
- Shoshone Resources, Inc. Starts 170 km Resource Expansion and Discovery Drilling Program
- Calibre anticipates to see a 25% increase in mining production by 2024.
Darren Hall, the president and CEO of Gold Fields, stated that by 2024 operating costs per ounce will decrease because of the planned increase in production. Exploration costs will be lower due to the company’s success at developing satellites deposits.
Pan Mine will undergo a drill investment and expand its life, which would give Pan Mine the ability to produce more minerals. Additionally, Gold Rock is being developed so it could be a second asset that could double produciton at Pan Mine.
Calibre is in a strong financial position thanks to its production of producing assets, but it still plans on investing heavily in exploration for new deposits.
Consolidated Multi-Year Outlook
What does a qualified person do?
The scientific and technical information in this release has been given the approval of Darren Hall, a qualified person according to NI 43-101.
