07:56 AM EDT, 04/15/2024 (MT Newswires) -- Calibre Mining ( CXBMF ) on Monday reported drill results from its 2023 resource conversion and expansion program at the Eastern Borosi mine complex in Nicaragua.

Results include 10.81 g/t gold over 3.4 meters, 9.64 g/t gold over 3.3 meters, 1,431.6 g/t silver over 2.9 meters, and 642.3 g/t silver over 5.0 meters.

"These drill results at Eastern Borosi reinforce the potential for discovery and resource expansion within the 176 [square-kilometer] Eastern Borosi land package," President and CEO Darren Hall said. "Moreover, the exceptionally high silver grades demonstrate further potential to capture additional value in the future."

Eastern Borosi is located near Calibre's 7,281 square-kilometer Atlantic mineral concession package, which the company said is in an early stage of development, but has high potential for the discovery of both epithermal gold-silver and porphyry copper-gold mineral systems.

The company's shares lost 3.7% on Friday.