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Colibri Resource Corporation Consolidates Ownership of Diamante Project, Prepares for Growth with Strategic Asset Realignment and Share Consolidation
Dieppe, New Brunswick--(Newsfile Corp. - May 14, 2025) - Colibri Resource Corporation (TSXV: CB...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Resource Corporation Consolidates Ownership of Diamante Project, Prepares for Growth with Strategic Asset Realignment and Share ConsolidationDieppe, New Brunswick--(Newsfile Corp. - May 14, 2025) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") wishes to announce a series of strategic corporate developments aimed at strengthening its asset base and capital structure. These include:Increasing its effective ownership of the Diamante Gold-Silver Project in Sonora, Mexico to 60%;Entering an agreement to acquire its joint venture partner's remaining interest in the project;Monetizing a non-core asset through the sale of its 50% interest in the Jackie Project; andImplementing a share consolidation to position the Company for improved capital markets access and long-term growth.These actions align with Colibri's sharpened focus on advancing its two most advanced exploration assets. The Company is collaborating with Tocvan Ventures on the potential future development of the Pilar Gold & Silver Project, where drilling, bulk sampling and trenching suggest near-term production potential. In parallel, Colibri is preparing for further advanced exploration activity at its 100%-owned EP Gold Project, located in a multi-million-ounce gold corridor called the Caborca Gold Belt that hosts Mexico's largest producing gold mine owned by Fresnillo Plc called La Herradura (25km west of EP). The La Herradura, which has been operating since 1994, produced 367,000 ounces of gold in 2024 and has 7.4 milllion ounces of gold remaining in reserves at the end of 2024 (source: Fresnillo Plc - 2024 Annual Report). Colibri geologists believe that EP shares key geological characteristics with nearby gold deposits, including structure, lithology, and geochemistry-underscoring its discovery potential.Colibri/Silver Spruce - Increases Ownership in Diamante Project to 60%On May 10th, 2025, Colibri and its joint venture partner Silver Spruce Resources Inc. (TSXV: SSE) (\"Silver Spruce\") increased their joint ownership of the Diamante Project from 50% to 60%. This increase is the result of an agreed to ownership dilution with its private Mexico based partner whereby exploration activities carried out in 2024 - including diamond drilling and fieldwork - were funded entirely by Yaque Minerales S.A. de C.V., a private Mexican compan...