Business
Colibri Announces That It and Its Partner Have Earned 50% of Diamante Project
Dieppe, New Brunswick--(Newsfile Corp. - February 8, 2023) - Colibri Resource Corporation (TSXV: ...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Announces That It and Its Partner Have Earned 50% of Diamante ProjectDieppe, New Brunswick--(Newsfile Corp. - February 8, 2023) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to report that the Company and its partner Silver Spruce Resources (\"Silver Spruce\") have earned a 50% ownership interest in the Diamante Gold & Silver Project (\"Diamante\" or \"Project\") located in Sonora Mexico. Vendor Bimsa Minera SA de CV of Mexico (\"Bimsa\"), a privately owned Mexico based mineral exploration company retains 50% ownership in the Property. Highlights of drilling completed on the property during the summer of 2022 are summarized in the table below.\"We are extremely pleased to have completed the required exploration to earn an initial 50% of this large and highly prospective project. Diamante is located in the Sierra Madre volcanic sequence of Mexico and within a district of epithermal mineralization which hosts many producing and historic gold, silver and base metal mines. Diamante drilling completed in mid 2022, which returned very encouraging assays, was on just two of eight already defined drill targets. We will plan to expand on these results and test other targets in 2023 in conjunction with additional field exploration and possibly a geophysics program,\" said Ian McGavney, Chief Operating Officer of Colibri.2022 DRILLING HIGHLIGHTS El Pillado Target Hole ID From To Length Au (g/t) Ag (g/t) Zn (%) Pb (%) Ag Eq (g/t) Au Eq (g/t) DIA22-01 27.0 37.5 10.5 0.04 9.87 0.37 0.12 35.46 0.40 DIA22-01 54.0 55.5 1.5 0.06 7.00 1.06 0.19 69.25 0.78 DIA22-01 72.0 73.5 1.5 0.03 13.50 1.52 0.66 110.35 1.24 DIA22-02 22.5 24.0 1.5 0.04 4.20 0.48 0.03 31.85 0.36 DIA22-02 43.5 54.0 10.5 0.04 6.27 0.78 0.12 51.71 0.58 includes 48.0 49.5 1.5 0.09 13.20 3.89 0.04 210.87 2.37 DIA22-02 64.5 66.0 1.5 0.03 3.60 0.83 0.04 47.84 0.54 DIA22-02 84.0 85.5 1.5 0.13 15.20 0.66 0.98 88.13 0.99 DIA22-02 84.0 85.5 1.5 0.13 15.20 0.66 0.98 88.13 0.99 DIA22-03 16.5 18.0 1.5 0.20 6.60 0.06 0.01 27.13 0.30 DIA22-04 0.0 1.5 1.5 0.03 6.00 0.75 0.14 49.54 0.56 DIA22-05 24.0 36.0 12.0 0.18 145.49 1.35 1.01 257.63 2.89 includes 24.0 30.0 6.0 0.26 184.50 1.08 0.61 278.51 3.13 includes 33.0 36.0 3.0 0.16 209.10 3.15 2.79 461.65 5.19 includes 33.0 34.5 1.5 0.31 397.00 5.87 5.31 871.62 9.79 DIA22-05 43.5 60.0 16.5 0.21 41.75...