Business
Colibri Partner to Start Drilling on El Mezquite Gold and Silver Property
Dieppe, New Brunswick--(Newsfile Corp. - June 3, 2021) - Colibri Resource Corporation (TSXV: C...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Partner to Start Drilling on El Mezquite Gold and Silver PropertyDieppe, New Brunswick--(Newsfile Corp. - June 3, 2021) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that option partner Silver Spruce Resources Inc. (\"Silver Spruce\") will be starting its planned Phase 1 Reverse Circulation (\"RC\") drill program on the Companies El Mezquite Au-Ag Property (\"El Mezquite\") today, June 3, 2021. This is the first-ever drilling at El Mezquite.\"Colibri is very excited for this inaugural drilling program at El Mezquite. We feel that this project has potential to build a great deal of shareholder value for both Colibri and our partner. We expect lots of news about progress on several projects in the near term. In addition to our two partners making tremendous strides at our Pilar, El Mezquite, and Jackie gold and silver projects, the 3D Induced program at Evelyn Gold Project is wrapping up this week. Upon receipt of the final reports and models, Colibri will be planning drill targets and moving towards a fully financed drilling campaign at our flagship Evelyn property in the near term,\" says Ron Goguen, President & CEO of Colibri.Illustration 1: Photo of Dozer and drill rig preparing for work at El Mezquite on June 2, 2021To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/4269/86402_835de3dad41a1895_001full.jpgPhase 1 drilling planned by Silver Spruce will consist of a minimum of 2,000 metres (\"m\") of RC drilling to be completed from 8 drill pads covering an area of approximately 600m x 400m. The area to be tested is contained within a larger area of alteration and anomalous Au and Ag samples collected historically by Colibri and more recently, under the terms of an option agreement, by Silver Spruce. Historical sampling by the Company at El Mezquite has returned a high value of 3.41 grams per tonne (\"g/t\") Au and 387 g/t Ag. Recent exploration completed by Silver Spruce has continued geological mapping and outcrop sampling on the Property and has also included multi-element geochemistry, hyperspectral analyses, and a LiDAR survey. Collectively, the exploration work to date at El Mezquite has outlined an area of Epithermal Low-Sulphidation type alteration with a footprint of approximately 1,200 m x 600 m. The Phase 1 dr...