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Colibri Provides Terms of Its Acquisition of the 4,260 Ha Plomo Gold Project in Caborca Gold Belt
Dieppe, New Brunswick--(Newsfile Corp. - March 21, 2023) -   Colibri Resource Corporation (...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Provides Terms of Its Acquisition of the 4,260 Ha Plomo Gold Project in Caborca Gold BeltDieppe, New Brunswick--(Newsfile Corp. - March 21, 2023) -  Colibri Resource Corporation (TSXV: CBI) (OTC Pink: CRUCF) (\"Colibri\" or the \"Company\"), provides additional details of terms to acquire the Plomo Gold Project and further background as a follow up to its release of March 16, 2023. Overview of Plomo Gold ProjectThe Plomo property covers an area of approximately 4,260 hectares (\"Ha\") and is contiguous with the Company's Evelyn Property. The additional land increases Colibri's area footprint by 842% to a total of 4,766 hectares.The current database includes 1,853 surface rock samples of which 132 samples are greater than 1.0 g/t Au, 15 high grade samples are greater than 10 g/t Au and 524 samples are greater than 0.1 grams per tonne (\"g/t\") Au. Surface exploration included prospecting, a 14.1 line Km 3D induced polarization study, mapping, and rock sampling. To date, 9 target areas have been identified on the Plomo property. (See: Figure 2 below). Underground sampling completed in the adit at the Banco de Oro prospect in 2008 is reported to have included 298.0 g/t Au over a chip length of 2.4 metresThe Plomo property has been subject to only very limited exploration drilling, which was very early on in its exploration, with a total of 1,570 meters completed in 10 holes. A highlight of the drilling is the intercept of 0.66 g/t Au over an intersection length of 11.65 metres (\"m\") completed in the San Perfecto target area.The Evelyn and Plomo properties are located in the 500 km long, northwest trending Caborca Gold belt which includes the > 15 million ounce Au La Herradura Mine (located 30 km west of Plomo) and the > 2 million ounce Au Noche Buena Mine (located approximately 8 km southwest of Plomo). Both mines are owned by Fresnillo Plc who is the largest gold producer in Mexico. The Plomo and Evelyn claims are surrounded by claims held by Fresnillo Plc. (See: Figure 1 below)Figure 1: Evelyn-Plomo Area - Regional Claims MapTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4269/159262_9243d8355432381f_001full.jpgTermsColibri paid $100,000 CAD cash to acquire the Plomo project by way of buying 100% of the shares outstanding in Great Panther Mining's (\"Great Panth...