VANCOUVER, British Columbia, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX:CXB, OTCQX:CXBMF) ("Calibre" or the "Company") is pleased to announce operating results for the three and nine months ended September 30, 2023 (all amounts are expressed in U.S. dollars).
Q3 and Year to Date ("YTD") 2023 Highlights
- Q3 cash increased to $97 million, a 26% increase over Q2 2023 and 72% since the start of 2023
- 4th Consecutive record consolidated quarterly gold production, 73,485 ounces
- 50% increase in gold production compared to Q3 2022 (49,081 ounces)
- Nicaragua gold production of 63,756 ounces and Nevada gold production of 9,729 ounces
- Record consolidated YTD gold production of 208,011 ounces
- 30% increase in gold production compared to YTD 2022 (160,704 ounces)
- Remain well on track to deliver full year guidance of 250,000 – 275,000 ounces
- Exploration success at Libertad yielded an Initial Mineral Resource Estimate at the Volcan Gold Deposit and identified additional gold trends proximal to the mill, providing further opportunity to leverage the available surplus processing capacity;
- Continued to expand zones of high-grade gold mineralization within the Limon Mine Complex, at Atravesada and along the VTEM Corridor, demonstrating the expansion and discovery potential across the property; and
- Potential to increase resources, grade and confidence around the Pan mine was reaffirmed with high-grade, near surface drill results immediately south and north of the operating mine.
Darren Hall, President & Chief Executive Officer of Calibre, stated: "During the quarter Calibre increased cash, after exploration and growth investments, to $97 million from gold production of 73,485 ounces, the company's fourth consecutive record quarter. The Company is in an excellent position to deliver the high end of full year production guidance of 250,000 - 275,000 ounces while continuing to generate strong free cash flow.
October 15 marks the fourth anniversary of our Nicaragua operating complex acquisition which transformed the Company to a growth focused gold producer. Four years on we have built a strong foundation, consistently delivering on our commitments while self funding investments and growth, including;