Calibre granted environmental permits to develop Eastern Borosi project in Nicaragua

Nicaragua authorities have granted critical environmental permits to Calibre Mining (TSX: CXB; OTC: CXBMF), greenlighting the open pit and underground mine developments at its Eastern Borosi gold project (EBP).

Calibre is advancing the development of the high-grade EBP deposits, which are scheduled to be in production by next year, feeding into the company’s Libertad processing facility.

“Approval of the EBP permits marks another significant milestone in the company’s efforts to organically grow gold production. The permits were obtained three months ahead of schedule thanks to a positive community engagement process and successful public consultation,” Darren Hall, President and CEO, said in a press release.

“With open pit reserves at EBP grading 6.8 grams gold per tonne in combination with the high-grade 6.5 grams per tonne reserves at Pavon Central, we remain on track for grade-driven production increase in 2023,” he added.

The company has also received environmental approval to begin drilling on the La Fortuna concession, located approximately 50 km southwest of the Libertad mill facility.

“La Fortuna represents an exciting undrilled epithermal gold opportunity as confirmed by fieldwork completed over the past 12 months. A drill has been mobilized to La Fortuna with a first-pass program to begin in early November. Additionally, Calibre was recently granted three new mineral concessions and has begun reconnaissance stage exploration work,” Hall said.

In addition, Calibre has signed a two-year contract with CEPAM (Comercializadora de Energía para América), ensuring that 100% of the power purchased for the Nicaraguan operations is certified clean energy. The agreement eliminates all of Calibre’s Scope 2 (purchased electricity) carbon emissions in Nicaragua, representing approximately 30% of our total emissions (CO2e) within the country.

EBP represents Calibre’s third significant environmental mine development approval within three years. It comprises a large 176 sq. km. land package with numerous low sulphidation gold-silver vein targets, with the potential for discovering new zones and expanding resources.

The EBP vein systems host a current inferred resource of 4.42 million tonnes at 4.9 grams gold per tonne and 80 grams of silver per tonne, containing 700,500 oz. of gold and 11.36 million oz. of silver.

The Northern Miner reported on Tuesday how Calibre’s equity fell to a fresh 12-month low following the imposition by the U.S. government of tighter sanctions aimed at stifling the regime of Daniel Ortega.

The new U.S. sanctions under President Joe Biden expand a previously signed Trump-era executive order to include specific potential restrictions on trade and investment involving Nicaragua, with a particular reference to the gold industry.