08:21 AM EDT, 08/08/2024 (MT Newswires) -- Calibre Mining ( CXBMF ) on Thursday announced the first ore delivery to the Libertad Mill from its Volcan Deposit, 5 km south of the mill in Nicaragua.

Volcan is anticipated to be a "meaningful" contributor to the company's production profile during the second half of 2024, Calibre said.

The company also confirmed its annual production guidance of 275,000 - 300,000 ounces.

"The addition of Volcan demonstrates the effectiveness of our hub and spoke operating strategy, with surplus capacity at the Libertad mill there remains strong potential for low cost, high return on investment growth," said Darren Hall, chief executive officer.

Calibre reported that 98% of the engineering of the Valentine Gold Mine in Newfoundland and Labrador is complete. Three-quarters of the construction also complete. First gold at Valentine is expected during the second quarter of next year.