Business
Colibri and JV Partner Report Discovery at Grass Roots Jackie Property - Samples as High as 9.56 g/t Gold and 515 g/t Silver and Provides Exploration Update of Pilar Gold & Silver Project
Dieppe, New Brunswick--(Newsfile Corp. - May 20, 2021) - Colibri Resource Corporation (TSXV: C...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri and JV Partner Report Discovery at Grass Roots Jackie Property - Samples as High as 9.56 g/t Gold and 515 g/t Silver and Provides Exploration Update of Pilar Gold & Silver ProjectDieppe, New Brunswick--(Newsfile Corp. - May 20, 2021) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to report that its joint venture partner, Silver Spruce Resources Inc. (\"Silver Spruce\") has announced the discovery of an area of significant exploration interest at Colibri's Jackie Gold & Silver Project located near the town of Tepoca in the Sierra Madre Occidental region of Sonora, Mexico. In addition, Colibri's option partner, Tocvan Ventures has provided updates of interest at the Pilar Gold and Silver Project near Suaqui Grande.NEW DISCOVERY AT JACKIE GOLD & SILVER PROJECTThe newly discovered area includes an exposure of intense oxidation and argillic alteration (see Illustration 2). Grab samples from this area returned a high value of 9.65 g/t Au and 515 g/t Ag and several samples with > 0.1 g/t Au and anomalous to highly anomalous base metal and path finder element values. Complemented by mapping and the results of hyperspectral analyses, the results outline a larger area of silicification and geochemically zoned alteration. \"We are excited to report the discovery of this promising target at the Jackie Gold & Silver Project. The discovery team entered the field with no record of past exploration to draw from. This area of interest, which contains high grade gold and silver, is truly a grass roots discovery. A Phase 2 exploration focused on this anomaly is planned to begin very soon\" said Ian McGavney, COO of Colibri.Exploration HighlightsIllustration 1 - Table of sample highlights as released by Silver Spruce ResourcesTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/4269/84651_1fee62d084726a98_001full.jpgThe reader is referred to the Silver Spruce Resources News Release dated May 20th, 2021 for further details on the Jackie Property and exploration plan.Illustration 2: Field and sample pictures of new discovery area To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/4269/84651_1fee62d084726a98_002full.jpgSilver Spruce is currently in the first year of a two program to earn 50% of the Jack...