Colibri Partner Chooses Layne de Mexico to Drill 2,000 Metres at El Mezquite Gold and Silver Project in Sonora
Colibri Partner Chooses Layne de Mexico to
Drill 2,000 Metres at El Mezquite Gold and
Silver Project in Sonora
Dieppe, New Brunswick--(Newsfile Corp. - April 22, 2021) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is very pleased announce that its partner Silver Spruce Resources has
awarded the drilling contract for El Mezquite Gold & Silver Project to Layne de Mexico.
Mobilization of
the reverse circulation (RC) rig and geological team to the Property is planned during the first week of
May. Silver Spruce reports that they intend to drill 2,000 metres in up to 14 holes in the first ever drilling
program to take place at the project.
Silver Spruce is currently in its first year of a four year agreement with Colibri to earn 50% of the El
Mezquite Gold & Silver Project and will be responsible for paying the costs associated with this drilling
program. See news release dated June 11
th
, 2020 for additional terms of the agreement.
El Mezquite Exploration
Working very closely with Colibri, Silver Spruce has completed an exploration program which was
recommended in part by an independent 43-101 report, including the requisite environmental permitting
for drilling, geological mapping of geologic structures and lineaments identified in part from the recent
ortho-mosaic photography, rock geochemical and hyperspectral analysis, data compilation and GIS
modeling, and a LiDAR survey.
Ground truthing of the Au-Ag system with geological mapping and rock
sampling was completed in three campaigns between July 2020 and March 2021.
All aspects of the
exploration program are conducted with strict adherence to COVID-19 protocols for personal safety.
All
current samples were submitted to ALS Global for gold, multi-element and hyperspectral analysis.
Historical samples (>400) from the 2010-2019 programs also were submitted to provide complementary
multi-element and hyperspectral data over the Property database.
Several lots of assay results remain
pending and will be provided upon receipt and interpretation.
RC Drill Program
Silver Spruce has set out the plan for the 2,000 metre maiden drilling program to test the targets defined
by Au-Ag assays from rock sampling, mineral alteration, 3D IP chargeability anomalies and intersecting
structural elements.
Figure 1. Location Map of the proposed El Mezquite Phase 1 drill collars
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Project Background
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 (see Figure 2). 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 (see Figure 2).
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.
Figure 2. Location Map of El Mezquite Property and Mines of the Sierra Madre Occidental
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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/81395