Calibre Receives Environmental Approval for Development and Operation of the High-Grade Eastern ...
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce that the Company has been granted the key environmental permits for the development and production of the open pit and underground mines within the Eastern Borosi Project (“EBP”) from the corresponding Nicaraguan authorities
VANCOUVER, British Columbia, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce that the Company has been granted the key environmental permits for the development and production of the open pit and underground mines within the Eastern Borosi Project (“EBP”) from the corresponding Nicaraguan authorities.
The Company is also pleased to announce that it 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.
Calibre is advancing the high-grade EBP open pit and underground satellite deposits expected to be in production during 2023 feeding into the Company’s Libertad processing facility. EBP represents Calibre’s third major environmental mine development approval within three years, demonstrating the Company’s unyielding commitment to stakeholder engagement and transparent communications within a clearly defined mining regulatory environment. EBP is a large 176 km2 land package with numerous low sulphidation gold-silver vein targets and strong potential for discovery of new zones and expanded resources.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “Approval of the EBP permits mark 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. This success will allow Calibre to develop EBP and to contribute to the improvement of the quality of life of host communities in the Atlantic Region of Nicaragua. With open pit reserves at EBP grading 6.8 g/t Au in combination with the high grade 6.5 g/t Au reserves at Pavon Central, we remain on track for grade-driven production increase in 2023.”
