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Colibri to Acquire 100% Interest in Diamante Gold and Silver Project Adjacent to El Mezquite Project - Assays up to 39.8 g/t Au and 3,160 g/t Ag
Dieppe, New Brunswick--(Newsfile Corp. - February 24, 2021) - Colibri Resource Corporation (TS...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri to Acquire 100% Interest in Diamante Gold and Silver Project Adjacent to El Mezquite Project - Assays up to 39.8 g/t Au and 3,160 g/t AgDieppe, New Brunswick--(Newsfile Corp. - February 24, 2021) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that it has signed an agreement with Bimsa Minera SA de CV, a private Mexico-based mineral exploration company to acquire up to 100% of the Diamante Gold Project located in the prolific Sierra Madre Occidental of Sonora, Mexico.The highly prospective gold and silver project consists of a cumulative 1,057 hectare (ha) land package in two properties named Diamante 1 and Diamante 2. Diamante 1 borders Colibri's 180-ha El Mezquite Gold Project immediately to the west and Diamante 2, located 700 metres directly south of Diamante 1, and 1.6 kilometres northwest of Colibri's 1,130-ha Jackie project (Illustration 1).Illustration 1: Diamante 1 and 2 Concession Location Map showing distribution of gold values reported in rock chip and channel samples from historical exploration programsTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/4269/75330_d745e5a9b4324ace_001full.jpgThis property acquisition nearly doubles Colibri's land holdings in this prospective area to 2,367 hectares.\"We are extremely happy to negotiate this favourable and timely deal with Bimsa Minera. The Diamante project sits directly beside our highly prospective El Mezquite project currently being mapped and sampled in preparation for a near-term maiden drilling program. The historical sampling and conceptual geological model for the Diamante property also indicate a favorable environment for finding potential deposits,\" said Colibri President & CEO Ron Goguen.The Diamante Gold project has been explored to a modest degree by modern exploration methods and there is evidence of historical hand surface and underground mining, and placer activities in stream channels and terraces on the project though no records of historical production are known.Geology, Exploration and Mining HistoryThe region is located along a northwesterly trend of epithermal Au-Ag deposits in the Sierra Madre Occidental such as La India, Mulatos, Dolores, Pinos Altos, Ocampo, Palmarejo and El Sauzal which host more than 20 million ounces of gold...