More than 50 prospective target areas have been identified within the Borosi concessions, located in the prolific mining triangle region of north-eastern Nicaragua. Four of these areas have been prioritised for a first pass drilling campaign totalling 5 500 m, starting early in the second quarter, the company said.

Rio Tinto has the right to earn a 75% interest in Borosi by spending $45-million over 11 years in the project. The exploration programme is being directed by Rio Tinto through a partnership agreement with Calibre as project operator.