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Silver Spruce Initiates Field Work on Colibri's Jackie Property
Dieppe, New Brunswick--(Newsfile Corp. - January 18, 2021) - Colibri Resource Corporation (TSX...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Silver Spruce Initiates Field Work on Colibri's Jackie PropertyDieppe, New Brunswick--(Newsfile Corp. - January 18, 2021) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that Silver Spruce Resources Inc. (\"Silver Spruce\") has commenced its planned Phase 1 exploration program on the Jackie Property located in Sonora, Mexico, located approximately 175 kilometers east of Hermosillo, Sonora.On November 30, 2020, Colibri signed a definitive agreement with Silver Spruce whereby Silver Spruce can earn a 50% interest in the Jackie property by completing USD$100,000 in exploration and drilling expenses including a minimum of USD$50,000 within 12 months and pay to Colibri total cash payments of USD$50,000 and CAD$50,000 in common shares within 12 months. Silver Spruce will also pay 50% of the requisite property taxes and surface rights agreements due. Upon completion of these terms, the Jackie property will be held on a 50-50 basis and a Joint Venture will be formed for the direction and funding of continued property exploration and development.The exploration program planned by Silver Spruce includes prospecting, rock, soil and stream sampling, and initial geological and structural mapping of areas exhibiting significant alteration or mineralization. Samples collected during the field work will be delivered to the ALS Global (\"ALS\") sample preparation facility in Hermosillo and splits will be sent to ALS in North Vancouver, BC for gold by fire assay and to ALS in Reno, NV for hyperspectral analysis for the identification of the principal alteration minerals and their relative intensity. Multi-element analysis will be completed at ALS in North Vancouver on select samples as determined from analytical and mapping results. In addition, Silver Spruce has retained GeoDigital Imaging de Mexico S.A. de C.V. (\"GeoDigital\") of Hermosillo to carry out GIS data compilation and preparation of digital base maps for geographical, geological, geochemical, and geophysical information. Jackie Property Location and AccessThe Jackie Project is located within the western portion of the Sierra Madre Occidental Volcanic Complex and within the prominent northwest-trending \"Sonora Gold Belt\" of northern Mexico. The Property is situated approximately six kilometers northwest of the Nicho deposit cur...