There’s still plenty of upside ahead for gold. For one, central banks are buying gold like its 1967 all over again. “Collectively they purchased 1,136 metric tons of the metal worth more than $70 billion in 2022. It was also the biggest level of purchasing since 1967, more than half a century ago, according to data provided by industry group World Gold Council,” noted Forbes.com. Two, the annual rate of US inflation just fell again to 6.5% in December from 7.1%, increasing bets the Federal Reserve could cool it with rate hikes. In fact, if we see a Fed policy pivot, gold prices could push aggressively higher. Of course, there’s also geopolitical uncertainty, too. Should we see a black swan event with Russia, China, or even North Korea, gold prices could pop. That could be great news for Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), Kinross Gold Corporation (NYSE: KGC) (TSX: K), and B2Gold (NYSE: BTG) (TSX: BTO).
Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example
Calibre Mining Corp. provide an update on the Company's 2023, multi-jurisdictional, 100 km discovery and resource expansion drill programs.
Nicaragua
2022 Exploration Highlights
- Year end 2021 Mineral Reserves increased to over 1 Moz, the largest resource base at record grades over the past 12 years (6.85 Mt, 4.6 g/t Au, 1.01 Moz) (see news release dated Feb 23, 2022);
- Successfully completed 2022 drill programs designed to target >250,000-ounce deposits to bolster the Company’s project pipelines, providing a solid base for growth;
- Discovered the bonanza grade Panteon North zone, highlight results include: 66.0 g/t Au over 5.6m, 52.5 g/t Au over 3.8m, 26.0 g/t Au over 8.1m (see news releases dated September 7, 2022 and June 27, 2022);
- Outlined a multi-kilometre prospective “VTEM Gold Corridor” for future expansion, initial results include: 11.6 g/t Au over 9.3m, 1.5 km along trend of Panteon North (see news release dated December 8, 2022).
2023 Plans and Key Objectives – 60 km of Drilling
- Approved a US$20 million exploration budget including 60 km of drilling focused on resource expansion and discovery with seven drill rigs operating across the assets;
- High-grade expansion opportunities at Panteon VTEM Corridor, Talavera extension, Veta Azul and Volcan, which are not yet included in the Company’s Resource statement;
- Additional Resource expansion and grade increase opportunities at our Eastern Borosi Project including Blag, La Luna and East Dome, as well as Riscos de Oro Southwest and Northeast extensions;-
- First pass drilling at the recently permitted Buena Vista and La Fortuna concessions, located near the Limon and Libertad mine complexes, respectively.
Nevada
2022 Exploration Highlights
- Successfully completed 2022 drilling programs designed to increase confidence in the Pan and Gold Rock mineral resources while looking for expansion opportunities;
- Discovered deeper ‘Carlin Style’, sulphide mineralization at Gold Rock Deep including: 6.8 g/t Au over 4.6m and 6.6 g/t Au over 5.8m (see news release dated November 22, 2022);
- Discovered the at surface Coyote gold oxide zone at Pan including 1.36 g/t Au over 13.7m and 0.61 g/t Au over 18.3m (see news release dated January 17, 2023).
2023 Plans and Key Objectives – 40 km of Drilling
- Approved a US$9 million exploration budget including 40 km of drilling focused on new discovery outside the fence at both Pan and Gold Rock;
- Numerous discovery opportunities along a 5 km trend south of the Pan resource area and centered on the new Coyote discovery to be drilled following up on the recent drilling success;
- Generative program underway including mineral alteration classification and structural interpretation.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “I am very pleased with the outcome of our 2022 drill programs in both jurisdictions. The team were able to deliver our objective of identifying new, robust deposits, confirming the significant discovery and resource expansion potential across our underexplored assets. The high-grade Panteon North zone and the multi-kilometre long VTEM Gold Corridor remain our top priorities in Nicaragua, while the Coyote gold discovery at Pan, and deeper Carlin-style targets at Gold Rock have the team very excited in Nevada.
We continue to see new and expanding, high-quality exploration opportunities which will benefit from the continued self-funding of our exploration programs aimed at discovering and delineating new resources to organically grow production in Nicaragua.”
Overview of 2023 Nicaragua Exploration Targets
Limon, Panteon North and VTEM Gold Corridor: Located approximately 5 km east of the El Limon mill and discovered in 2022 with high-grade gold mineralization, Panteon North is expected to positively impact the 2022 mineral resource and reserve statement. The zone consists of steeply dipping, ultra-high-grade gold veins striking broadly south-east to north-west at the main ore shoot at Panteon North. An airborne VTEM geophysical survey has outlined a high-low resistivity contact which extends for approximately 6 km to the north. Early indications of further high-grade mineralization up to 2.5 km north of the main ore shoot bodes well for additional discovery along the VTEM Corridor.
Limon, Talavara Extension: Located west of the main El Limon trend and mill, Talavara is a former underground mining area with past production of up to 800,000 ounces of high grade, low sulphidation gold.
Buena Vista Concession: Located approximately 20 km east of the Limon Mine complex and 10 km northwest of the La India mine along the same structural trend which controls the gold mineralization at La India. Drill permits were received in late 2022 with plans to test several never-drilled targets in 2023.
Libertad, Veta Azul: This new target, located 10 km from the La Libertad Complex, was identified by our field team in 2022. Historic artisanal mining at surface along with high-grade surface samples indicate a 1.5 km strike extension. Drilling will commence in early 2023 to test depth extensions and delineate potential ore shoots along the trend.
EBP: Mining is scheduled to commence from Calibre’s EBP project in the first half of 2023. Several original Calibre deposits (dating pre 2019 B2 Gold transaction) have current inferred mineral resources and have not been drilled for many years. There is potential to upgrade several of these resources to the indicated category while focusing on several zones of higher grade.
Overview of 2023 Nevada Exploration Targets
Pan Mine, Coyote: Located south of the Pan resource area, Coyote was originally proposed for follow-up on soil and rock anomalies at the Pilot/Guilmette geological contact. Assay results from 2022 RC drill holes PR22-237 and PR22-238 discovered gold mineralization in the lower Pilot formation and into the Guilmette formation. In 2023 Calibre will drill the area adjacent to these holes to confirm if mineralization is found in the same lithology along the north-south trending valley containing the Pilot-Guilmette contact. Numerous additional targets south of the Coyote gold discovery along the multi-kilometre trend of favorable Guilmette formation will be drilled in 2023.
Gold Rock Deep: Located approximately 15 km southwest of the Pan mine Calibre discovered Gold Rock Deep, a north-east extension of the main Gold Rock surface oxide deposit. Initial drilling has confirmed Carlin-style sulphide mineralization with the potential of a larger, higher-grade deposit at depth. High priority drilling is planned for early 2023.
Other related developments from around the markets include:
Barrick Gold Corporation reported preliminary full year and fourth quarter 2022 production results. On the back of stronger Q4 production, 13% higher than the previous quarter, preliminary gold production for the full year of 4.14 million ounces was approximately 1% lower than the 4.2 million ounces1previously guided, while preliminary copper production of 440 million pounds for 2022 was in line with the guidance range of 420 to 470 million pounds. The preliminary Q4 results show sales of 1.11 million ounces of gold and 99 million pounds of copper, as well as preliminary Q4 production of 1.12 million ounces of gold and 96 million pounds of copper. The average market price for gold in Q4 was $1,726 per ounce and the average market price for copper in Q4 was $3.63 per pound.
Newmont Corporation joins the Dow Jones Sustainability™ World Index (DJSI World), representing the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index. DJSI World membership is based on long-term economic factors, as well as leading environmental, social and governance (ESG) performance evaluated through the 2022 S&P Global Corporate Sustainability Assessment (CSA). In addition to being ranked number one in the Metals and Mining Industry, Newmont received the top score for the Governance and Environment dimensions and earned top decile performance in 23 of the 25 CSA performance categories. The ranking is based upon Newmont’s performance in calendar year 2022. As of December 9, 2022, the company achieved the highest score out of 147 metals and mining companies assessed in the CSA.
Kinross Gold Corporation has acquired deemed beneficial ownership of 5,018,017 common shares of Allegiant Gold Ltd. issuable upon exercise of common share purchase warrants previously acquired by Kinross. The warrants were acquired as part of the previously announced investment in Allegiant completed on March 17, 2022. Pursuant to the investment, Kinross purchased 10,036,034 units of Allegiant, representing 9.9% of the issued and outstanding shares of Allegiant. Each unit was comprised of one common share and one-half of one common share purchase warrant. The Units were acquired for a purchase price of $0.40 per Unit, representing an aggregate purchase price of $4,014,414.00. The common shares held represent approximately 9.8% of the currently issued and outstanding Allegiant common shares and the Warrants provide deemed beneficial ownership of common shares representing approximately 4.7% of the currently issued and outstanding Allegiant common shares. Accordingly, as of today Kinross is the deemed beneficial owner of common shares representing approximately 14.0% of the issued and outstanding shares of Allegiant and is therefore required by applicable Canadian securities laws to issue this press release and file a corresponding early warning report.
B2Gold announced its gold production and gold revenue for the fourth quarter and full year 2022, in addition to its production and cost guidance for 2023.Fourth Quarter and Full Year 2022 Highlights: Total gold production quarterly record in Q4 2022: Total gold production in the fourth quarter of 2022 of 367,870 ounces, including 15,101 ounces of attributable production from Calibre Mining Corp., a quarterly production record for B2Gold. Achieved upper half of 2022 annual gold production guidance: Total gold production for 2022 of 1,027,874 ounces (including 54,871 ounces of attributable production from Calibre), above the mid-point of 2022 guidance, the seventh consecutive year of meeting or exceeding annual production guidance.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Calibre Mining Corp. by Calibre Mining Corp. We own ZERO shares of Calibre Mining Corp. Please click here for full disclaimer.
Contact:
Ty Hoffer
Winning Media
281.804.7972
[email protected]
