Colibri Resource Corp Option Partner at El Mezquite Gold and Silver Project Files Environmental Report for Drilling Permit
Colibri Resource Corp Option Partner at El
Mezquite Gold and Silver Project Files
Environmental Report for Drilling Permit
Dieppe, New Brunswick--(Newsfile Corp. - March 11, 2021) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to announce that its earn-in option partner Silver Spruce
Resources Inc. (TSXV: SSE) has filed an Informe Preventivo with the Mexican government environmental
authority, SEMARNAT, for the El Mezquite gold and silver project in preparation of a maiden drilling
program at the property. The Informe Preventio is an environmental assessment report which is required
in order to receive a drilling permit in Mexico.
Silver Spruce intends to conduct an initial 1,500 to 2,000-metre diamond drill program (Phase 1) to test
targets derived from surface mapping and sampling
and are planning
a follow-up Phase 2 drilling
program as
results warrant.
Silver Spruce is currently in year 1 of a 4-year option to purchase 50% of Colibri's 100% owned El
Mezquite project. For full details of this agreement please reference Colibri's news release dated June
6
th
, 2020.
"We are very excited with the progress made at El Mezquite. As we swiftly draw closer to a
maiden drill program on the project, we are becoming very confident with the drill targets being
selected and have high hopes for positive results,"
says Ron Goguen, Colibri President & CEO.
Project background
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 12 kilometres
northwest of the Nicho deposit currently under mine development by Minera Alamos.
Other nearby large operating mines include Alamos Golds Los Mulatos gold mine and Agnico Eagle's
La India gold mine located 50 and 58 kilometres to the northeast, respectively and Agnico's Pinos Altos
mine located 100 km to the southeast. Exploration in the surrounding area is very active with adjacent
and nearby properties held by Evrim, Newmont, Garibaldi, Kootenay Silver and Penoles.
The 180-hectare property is easily accessible from Mexican Highway No. 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 No. 16.
Map 1
To view an enhanced version of Map 1, please visit:
https://orders.newsfilecorp.com/files/4269/76874_b4ed53be14236b69_001full.jpg
About Colibri Resource Corporation:
Colibri is a Canadian-based mineral exploration company listed on the TSXV (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. Colibri has an option to acquire up to a
100% ownership interest in the
Diamante Gold & Silver Project
and will soon begin exploration work in
preparation for a Phase 1 drilling program. Three additional projects,
Pilar Gold & Silver Project
(optioned to
Tocvan Ventures
- CSE: TOC),
El Mezquite Gold & Silver Project
and the
Jackie Gold &
Silver Project
(both 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/76874