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Colibri Receives TSX Venture Exchange Approval for its Acquisition of Yaque Minerales - Files Updated with NI 43-101 Complaint Property Report on El Mezquite
Colibri Receives TSX Venture Exchange Approval for its Acquisition of Yaque Minerales - Fi...
About this update from Colibri Resource Corporation
[{"type":"text","content":"\n\n\n\n\nColibri Receives TSX Venture Exchange Approval for its Acquisition of Yaque Minerales - Files Updated with NI 43-101 Complaint Property Report on El Mezquite\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nDIEPPE, NB, Nov. 6, 2019\n\n\n\nDIEPPE, NB, Nov. 6, 2019 /CNW/ - (CBI: TSX-V) – Colibri Resource Corporation (\"Colibri\" or the \"Company\") wishes to announce that the TSX Venture Exchange has accepted for filing its acquisition of Yaque Minerales S.A de C.V. (\"Yaque\"). The agreement was first announced on October 30th, 2018. Yaque is a private gold exploration company owned by a non-arms length company called OnTop Capital. The $1 million CAD purchase is being made by way of a five-year convertible debenture bearing 2.5% annual interest and carries a $0.20 per share conversion privilege. \nThere are two projects in Yaque: \"El Mezquite\" and \"Jackie\". Both are located in the prolific High Sierra Madre in Sonora, Mexico and are less than 10km north east of the Nicho deposit held by Minera Alamos (TSX Venture: MAI – market cap of approximately $75 million CDN) in its Santana project. The Nicho is reportedly expected to be advanced to production in 2020 with initial production rates of between 25,000 to 30,000 ounces of gold per year.\nA.         El Mezquite\nColibri has filed a newly updated NI 43-101 complaint property report on its El Mezquite project, a copy of which can be found on www.sedar.com and on the Company's website, www.colibriresource.com. An updated report was required in order to complete the acquisition of Yaque Minerales as a previous report had become stale dated during the review process. The updated report includes more recently released samples and observations made by company geologists in 2019 (See Colibri news release dated March 29th, 2019). The report also includes recommended work to be done in order to advance the property.\nThe first steps of this recommended work program are expected to be completed over the next three months. Should the results o...