Colibri and Its Partner Receive Permit to Drill El Mezquite Gold and Silver Project in Sonora
Colibri and Its Partner Receive Permit to Drill
El Mezquite Gold and Silver Project in Sonora
Dieppe, New Brunswick--(Newsfile Corp. - April 20, 2021) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is very pleased to announce that its wholly owned Mexican subsidiary
Yaque Minerales S.A de C.V. has received an Informe Preventivo, an environmental permit and a permit
for drilling at its El Mezquite Gold & Silver Project from the Mexican government environmental authority
(SEMARNAT).
Project Background
Figure 1. Looking north east to principal gossan and alteration zones and El Mezquite Phase 1 drill
targets; easy access to ranch trail from Highway #16 crossing E-W in background.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/81054_7a3a11d884c4bab7_001full.jpg
The 180-hectare Property is easily accessible from Mexican Highway #16 via a southerly-trending
unpaved road which traverses through the centre of the known gold mineralization. High voltage power
lines are positioned along Highway #16.
The El Mezquite Project is located within the west-central portion of the Sierra Madre Occidental
Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and
parallel to the well-known, precious metals-rich Mojave-Sonora Megashear. The Property is very well
situated in terms of logistics for exploration and is located only twelve kilometres northwest of the Nicho
deposit currently under mine development by Minera Alamos.
"
Colibri is very happy to see this milestone reached as we have high expectations for the
project. The Company anticipates a transformational year corporately with steady news for its
investors. Colibri is excited about its active basket of projects in Sonora. Shareholders will be
eager to follow along as we begin a near term drilling program at El Mezquite with its partner
Silver Spruce Resources (partner funded), receive results from the current drilling program
underway by its earn in partner Tocvan Ventures at the Pilar Gold & Silver Project (partner
funded), and its near term drilling program at the flagship 100% owned Evelyn Gold Project (fully
funded). On top of this we expect to advance the recently acquired Diamante Gold & Silver
Project with Silver Spruce to drill stage later this year,
"
said Ron Goguen, President & CEO of
Colibri.
Silver Spruce Resources (TSXV: SSE) is in its first year of a four year earn in agreement to acquire 50%
of the El Mezquite Gold & Silver Project. For full details of the agreement please see Colibri news
release dated June 11
th
, 2020.
Figure 2. Looking North towards Highway 16
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/81054_7a3a11d884c4bab7_002full.jpg
Alteration and Mineralization at Mezquite
The mineralization in the region commonly consists of disseminated gold hosted in strongly argillized
and moderately silicified andesite rocks, typical to the Sierra Madre geological model of the principal
deposits.
Four main zones of alteration on the Property have been identified. The principal El Mezquite target area
is defined as an alteration zone that extends for about 2 km in a north/south direction and is about 1 km
wide. There are at least four of these colorful, hydrothermally altered, contact zones within the El
Mezquite prospect area. The yellow, orange and reddish colors of the highly altered areas are caused by
hydrothermal solutions oxidizing sulphides. The sulphides are related to gold and silver values and
geochemical anomalies which are mostly associated with these zones of alteration. The major trends of
the alteration zone are generally north-south; however, the major trend of mineralization within the
Property is NE-SW.
The gold and silver mineralization appears to be related to a silicified feldspar porphyry, which outcrops
along the southern bank in the bottom of the largest arroyo. Rhyolite breccias and multi-phase breccia
veins are also noted.
Historical assay results from 362 rock chip samples indicate that 22 of the samples report values of gold
>0.5 g/t, averaging 1.35 g/t of Au and 54.4 g/t Ag. These samples are distributed along an area that
extends for 600 metres in a north-south direction and 300 metres E-W. The highest values of gold and
silver reported are 3.41 g/t Au and 198 g/t Ag. The most recently reported surface sampling campaign in
2019 confirmed the anomalous values, with precious metal values up to 1.63 g/t Au and 155 g/t Ag.
About Colibri Resource Corporation:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on
acquiring and exploring prospective gold & silver properties in Mexico. The Company has six exploration
projects of which five currently have exploration programs being executed or planned. The flagship
Evelyn Gold Project
is 100% owned and explored by Colibri. The Company has four additional projects,
Pilar Gold & Silver Project
(optioned to Tocvan Ventures (CSE: TOC),
El Mezquite Gold & Silver
Project
,
Jackie Gold & Silver Project, and the Diamante Gold & Silver Project
(earn-in agreements
with Silver Spruce Resources (TSXV: SSE) are also currently being actively advanced.
For more information about all Company projects please visit:
www.colibriresource.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not
purely historical are forward-looking statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. These forward-looking statements are made as of
the date of this news release, and the Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those projected in the forward-
looking statements. Although the Company believes that the plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that they will prove to be
accurate.
For further information: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274,
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/81054