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Silver Spruce and its Partner, Colibri Resource, Announces Completion of Earn-in for 50% Interest in the Diamante Au-Ag Project, Sonora, Mexico
BEDFORD, NS / ACCESSWIRE / February 13, 2023 / Silver Spruce Resources, Inc. (TSXV:SSE)(FRA:S6Q1...
About this update from Silver Spruce Resources Inc.
[{"type":"text","content":"Silver Spruce and its Partner, Colibri Resource, Announces Completion of Earn-in for 50% Interest in the Diamante Au-Ag Project, Sonora, MexicoBEDFORD, NS / ACCESSWIRE / February 13, 2023 / Silver Spruce Resources, Inc. (TSXV:SSE)(FRA:S6Q1) (\"Silver Spruce\" or the \"Company\") is pleased to report that the Company and its partner Silver Spruce Resources (\"Silver Spruce\") have earned a 50% ownership interest in the Diamante Gold & Silver Project (\"Diamante\" or \"Project\") located in Sonora, Mexico. Vendor Bimsa Minera SA de CV of Mexico (\"Bimsa\"), a privately owned Mexico based mineral exploration company, retains 50% ownership in the Property.\"We are very excited to fulfill, in partnership with Colibri, the Phase 1 exploration drilling program and technical reporting to earn our combined 50% interest in Diamante. There are numerous defined drill targets and other prospective areas offering future potential for mineralization of several genetic styles with precious and base metals,\" said Greg Davison, Silver Spruce Vice-President Exploration and Director. \"The initial drilling successfully targeted known artisanal workings with high grade Zn-Pb-Ag with Cu and Au credits. We are looking forward to ground-based geological mapping, prospecting and focused geophysics as part of the follow-up program to prioritize the next phase of drilling.\"Colibri News Release (February 7th, 2023 - Select Excerpts)\"We are extremely pleased to have completed the required exploration to earn an initial 50% of this large and highly prospective project. Diamante is located in the Sierra Madre volcanic sequence of Mexico and within a district of epithermal mineralization which hosts many producing and historic gold, silver and base metal mines. Diamante hosts many showings and the drilling completed in mid 2022, which returned very encouraging assays, was on just two of eight already-defined drill targets. We will plan to expand on these results and test the other targets in 2023 in conjunction with additional field exploration and possibly a geophysics program,\" said Ian McGavney, Chief Operating Officer of Colibri.About DiamanteDiamante is located within a belt of epithermal Au-Ag mineralization hosted by the Sierra Madre Occidental Volcanic Complex. Major gold mining operations in the area of the Diamante property include Alamos Gol...