Colibri & Partner Initiates Inagural 2,000 Metre R/C Drill Program at Diamante Project, Sonora, Mexico
Colibri & Partner Initiates Inagural 2,000 Metre
R/C Drill Program at Diamante Project, Sonora,
Mexico
Bedford, Nova Scotia--(Newsfile Corp. - June 21, 2022) - Colibri Resource Corp. (TSXV: CBI) ("Colibri"
or the "Company"), with its partner Silver Spruce Resources Inc. ("Silver Spruce"), announces that they
have collared the first hole of a 2,000 metre reverse circulation ("RC") drill
program at the Companys
Diamante
Project
.
The first holes
will
be testing the
Pillado Zone
which is a Au-Ag-Pb-Zn-Cu target
(Figure 1).
Silver Spruce is in the second year year
of a two year agreement to earn up to 50% of the Diamante
Project. For additional details of the earn in agreement between Colibri and Silver Spruce please see
Colibri's news release dated
April 29
th
, 2021
.
Program operations at Diamante are jointly managed by Silver Spruce and Colibri.
Reporting drill
program planning and results including assays and QA/QC will be the responsibility of Silver Spruce.
Please see Silver Spruce's news release on the start of drilling at Diamonte below dated June 21
st
,
2022 below.
Silver Spruce Reports:
(June 20
th
, 2022)
"We are pleased to begin our maiden exploration drilling program on several highly prospective areas of
Diamante.
Our first two targets, Pillado and La Prieta, exhibit multiple vein, breccia, disseminated and
manto-style mineralization, locally with fault controls parallel to and intersecting high grade polymetallic,
silver-gold and base metal-bearing occurrences with historical artisanal mining.
Importantly, despite the
number and quality of known mineralization targets, there is no recorded historical drilling on Diamante
to date," stated Greg Davison, Silver Spruce Vice-President Exploration and Director.
Figure 1. Reverse circulation drill rig collared on pad #40 north of artisanal underground workings at
the Pillado drill target, first DDH on the Diamante 1 concession.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/128451_492fd543f44a7804_001full.jpg
Mr. Davison added, "TRAX equipment and personnel have conducted activities for two weeks on the
Pillado and La Prieta targets, under the direction of our exploration point team, to clear access routes
and prepare the requisite drill pads.
Minera Drilling mobilized from Hermosillo to site on June 15
th
and
currently are collared on Pillado pad #40 located north of the portal.
The initial three holes at this location
will target the E-W trending, northerly-dipping mineralization.
Six
additional holes are proposed at
Pillado and another eight holes at La Prieta, all of which are oriented to intersect depth projections of
known surface and shallow underground mineralization.
The program is anticipated to continue for four to
five weeks through mid-July 2022.
Samples will be screened using pXRF analyses during the on-site
logging to provide rapid qualitative data for dynamic decision-making on drill hole planning and depth
targeting.
Sample shipments to ALS Global in Hermosillo will be delivered on a weekly basis."
The drill-ready Diamante gold-silver (Au-Ag) property ("Diamante" or the Property") is located 5 km
northwest of the town of Tepoca, and 165 km southeast of the capital city of Hermosillo, eastern Sonora,
Mexico.
Constructora Trax ("TRAX") and Minera Drilling, both from Hermosillo, Mexico, respectively, were
contracted for the preparation of access trails and pads, and drilling 2,000 metres of reverse circulation
drill holes on the principal drilling target areas of the Diamante 1 and 2 concessions, specifically on the
first-priority targets at Pillado (see Figures 1, 2 and 3) and La Prieta (Figure 4) with Calton, Aguaje, El
Chon-El Chon Oeste and Mezquite Raizudo next in line.
Figure 2. Orthophoto of Pillado showing pads #40 - #46 with trace projections for initial group of drill
holes. Adit located on north-facing exposure south of pad #40 at center. N-NE and E-W-trending
targets exhibit polymetallic Au-Ag-Cu-Pb-Zn mineralization with intense alteration, and intersect 25
metres west of the portal. Anomalous multi-element geochemical values shown in graduated
symbols. 1:1,000 scale.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/128451_492fd543f44a7804_002full.jpg
Our recent geological mapping programs conducted over multiple targets reported Au values to 51.5 g/t
from silicified breccias in the Calton target (see Press Release of April 27, 2022), the highest Au grade
yet reported from Diamante, and Ag values >1,000 g/t were recorded from base metal sulphide-bearing
veins at Pillado, El Chon and El Cumbro accompanied by high-grade primary and supergene Pb+Zn+Cu
up to a combined grade of 50.9 wt.% from grab and channel sampling at surface and within historical
trenches and artisanal workings.
Specifically, geochemical results from surface and underground sampling of eight target areas reported
precious metals (Au to 51.5 g/t, Ag to 2,270 g/t), base metals (Pb to 42.3 wt.%, Zn to 22.9 wt.% and Cu
to 3.2 wt.%) and pathfinders each exhibited weak to highly anomalous values commonly with high Ag;Au
and low to high Pb:Zn.
Elevated Cu, Cd, Sb, Hg, As and Bi are linked commonly to Pb and/or Zn.
Figure 3. Intense wallrock alteration and primary sulphide to secondary oxide mineralization exposed
20 metres south of pad #40 at the entry to workings at the Pillado drill target.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/128451_492fd543f44a7804_003full.jpg
Figure 4. TRAX preparing pad #8 to the north above portal to workings at the La Prieta drill target.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/128451_colibri_figure4.png
Our recent target mapping program reported assays consistent with historical surface and U/G channel
samples reported up to 39.8 g/t Au, 3,460 g/t Ag, 18.2% Pb, 33.5% Zn and 1.47% Cu (see Press
Releases of April 12, 2021, and January 24, 2022).
Most drill targets are polymetallic vein style with
precious metal-dominant targets also identified at Calton, El Chon and Aguaje.
Metal zoning or pulses of
mineralization may be indicated at each of these three locations.
Project Geology
The Property is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex
within the northwest-trending "Sonora Gold Belt" of northern Mexico.
Diamante offers strong precious
metal tenor with a polymetallic endowment, multiple quality targets, styles of mineralization, of particular
significance for our exploration moving forward, no records of drilling.
Historical exploration and artisanal
activities are indicated by surface trenches and subsurface workings parallel to and cutting the vein
mineralization were measured up to 100 metres in length, with the latter showing shafts and short lateral
drifts.
Geological features of epithermal Au, low to intermediate sulphidation Ag-Au (Pb-Zn), high sulphidation
Au-Cu, and potential porphyry style Au-Cu occur as disseminated, stockwork and vein styles.
Silicification with sericitic, argillic and propylitic alteration were accompanied by drusy to vuggy quartz,
black tourmaline, multiple disseminated to vein sulphides with incipient to pervasive oxidation to
carbonates, sulphates such as jarosite, hematite and iron hydroxide.
Recent exploration verified
pathfinder elements including As, Sb, Hg, Cd and Bi.
Mineralization is reported visually as pyrite, arsenopyrite, chalcopyrite, sphalerite, argentiferous galena,
argentite, hematite and probable metal oxides, carbonates and sulphates, including copper carbonate
(malachite), copper sulphates and plumbojarosite.
Structural lineaments show intersecting and splaying vein patterns with steep to moderately dipping
northwest, northeast and north-striking orientations were confirmed and spatially coincident with parallel
to oblique faults and shears which control and locally offset the mineralization.
Project Background
Silver Spruce can acquire up to 50% interest in four Diamante concessions with a cumulative land
position of 1,057 hectares (see Press Release of April 29, 2021).
The Property is well situated in terms of logistics for exploration and is easily accessible from Mexican
Highway #16 which transects Diamante 1 and along several trails and dry river beds southward to
Diamante 2.
Mining and exploration in the surrounding area is very active with adjacent and nearby properties held by
Alamos Gold, Argonaut, Agnico Eagle, Evrim, Newmont, Garibaldi, Kootenay Silver and Penoles among
others.
Geochemical Analysis, Quality Assurance and Quality Control
Drilling samples (¼ splits) will be delivered by the Project Geologist from the Property to the ALS sample
preparation facility in Hermosillo, Sonora, Mexico.
The remaining ¼ and ½ splits will be stored at
Colibri's facilities in Suaqui Grande, south of Tecoripa, Sonora.
ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and
accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.
Local chain of custody will be
monitored and maintained by the Project Geologist under the direction of the QP.
The samples will be crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized
to 85% passing 75 micrometres (-200 mesh).
The sample pulps and crushed splits will be transferred
internally to ALS Global's North Vancouver, Canada or Lima, Peru analytical facility for gold and multi-
element analysis.
Pulps (50gram split) will be submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-
AA24).
The retained pulps also will be analysed by Four Acid Digestion followed by Inductively Coupled
Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m) with Hg by
Aqua Regia and ICP-MS (Hg-MS42).
Over-limit Au and Ag samples will be analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-
GRA21 or Au-GRA22, Ag-GRA21).
Overlimit base metals will analyzed by Four Acid Digestion followed
by Ore Grade Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) for Cu, Pb and Zn
(Cu-OG62, Pb-OG62, Zn-OG62).
High grade samples above the range of the Ore Grade OG62 analysis
will be digested, as above, and analyzed using Titration (e.g., Pb-Vol70).
In-house quality control samples will be inserted into the sample set by the Project Geologist.
ALS Global
conducts its own internal QA/QC program of blanks, standards and duplicates, and the results are
provided with the Company sample certificates.
The results of the internal and ALS control samples will
be reviewed by the Company's QP and evaluated for acceptable tolerances prior to disclosure.
All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and
future selection of pulps for independent third-party check analyses, as requisite.
All metal values disclosed herein by Silver Spruce are reported from grab and channel samples which
may not be representative of the metal grades.
The Company's Qualified Person believes that the sampling documentation, analytical protocols and
quantitative data will withstand scrutiny for inclusion.
About Minera Drilling
Minera Drilling, offering reverse circulation, has its drilling equipment and technical team based in
Hermosillo, Sonora, Mexico.
About Constructora Trax
TRAX offers a comprehensive, high-level response for civil engineering, construction and development
in the states of Sonora, Sinaloa, Chihuahua, Zacatecas, Guerrero among others.
TRAX has extensive
project experience since 1990 specializing in earthworks, demolition, explosives, drilling and blasting,
mineral exploitation in both underground and open pit mines, feasibility analysis of mining projects and a
wide range of infrastructure projects.
Qualified Person
Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified
Person for the Diamante Project and is responsible for approval of the technical content of this press
release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects
("NI 43-101"), under TSX guidelines.
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 in 2022. (1) The flagship
Evelyn Gold Project
is 100% owned and explored by Colibri, (2) the
Pilar Gold & Silver Project
(optioned to
Tocvan Ventures- (CSE: TOC
), (3) the
El Mezquite Gold & Silver Project
, (4) the
Jackie
Gold & Silver Project, and (5) the Diamante Gold & Silver Project.
3,4, and 5 are subject to earn-in
agreements by
Silver Spruce Resources - (TSXV: SSE
).
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 information contact: 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/128451