07:11 AM EDT, 07/08/2024 (MT Newswires) -- Calibre Mining Corp. ( CXBMF ) , which rose more than 5% on Friday, said Nicaraguan authorities granted it the key environmental permits for the development and production of the open pit mines at the Volcan gold deposit, about 5 km south of the Libertad mill.

"Approval of the Volcan permit demonstrates the value of our hub and spoke operating strategy as we achieve another significant milestone in Calibre's efforts to organically grow gold production," said Darren Hall, president and chief executive officer. "With an initial open pit resource averaging 2.0 g/t gold, 2023 drilling confirms that the deposit can host higher-grade, near-surface gold mineralization."