07:12 AM EDT, 08/20/2024 (MT Newswires) -- Calibre Mining ( CXBMF ) reported on Tuesday drill results from its 2024 resource conversion and expansion program within the Guapinol open pit area on its Eastern Borosi mine complex in Nicaragua.

Highlights include 13.24 grams per tonne (g/t) gold over 5.8 meters and 11.62 g/t gold over 3.8 meters.

"Today's drill results from Eastern Borosi confirm that significant high-grade gold mineralization exists outside of the present deposit area surrounding the Guapinol operation, reinforcing the potential for mine life extension," President and CEO Darren Hall said.

The company noted that its land package sits near the larger Atlantic mineral concession that has high potential for the discovery of both epithermal gold-silver and porphyry copper-gold systems.

"These drill results build upon the high-grade gold mineralization results reported earlier this year confirming the significant mineral endowment of the district as well as the high potential for discovery and resource expansion within the entire 176 [square-kilometer] Eastern Borosi land package," Hall added.

The company's share price rose 2.3% yesterday to near a 52-week high of $2.20.