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Be the first with the news that moves the market- Colibri Resources (CBI) has acquired the Plomo Gold Property in the Caborca Gold Belt near Sonora, Mexico
- The property spans roughly 4,260 hectares and neighbours the company’s Evelyn Property
- This addition to the company’s portfolio expands Colibri’s footprint by 824 per cent to 4,766 hectares
- The Plomo property has historically had limited drilling with only 1,570 metres in 10 holes done in 2008
- The property consists of two exploration concessions and consists of vein, replacement and disseminated styles of gold mineralization
- Shares of Colibri Resources are unchanged at $0.06 on Thursday
Colibri Resources Corporation (CSI) announced it has acquired the Plomo Gold Property in the Caborca Gold Belt near Sonora, Mexico.
The property spans roughly 4,260 hectares and neighbours the company’s Evelyn Property. The addition of the Plomo Gold Property expands the company’s footprint by 824 per cent to 4,766 hectares.
“Plomo is a great addition to our property portfolio in Sonora. We have been very encouraged with the progress made on our Evelyn property over the last 18 months and the acquisition of Plomo provides us with a much-expanded footprint for discovery,” Ron Goguen, president and CEO of Colibri, said in a press release. “Our technical due diligence on the Plomo property confirmed significant continuity of alteration and structure especially in the San Perfecto target area and most significantly confirms the application of our exploration model developed to date through our work at Evelyn.”
The company said that its two combined properties gives Colibri discovery opportunities that range from early stage to intermediate and advanced.
According to a statement, the current database that totals 1,853 surface rock samples includes: 524 samples over 0.1 grams per tonne gold, 132 samples over 1.0 g/t gold, and 15 high grade samples over 10 g/t gold.
Since 2007, surface exploration has included prospecting, mapping and rock sampling, which has identified 9 target areas on the property. Little exploration drilling has been done on the property, with a total of 1,570 meters drilled in 10 holes completed in 2008. Additional exploration was done on the property in 2012 when more outcrop samples were collected and geological mapping was completed.
Moving forward, Colibri’s exploration strategy will include prioritizing drill targets, developing drill targets from existing prospects and a property-wide evaluation.
Shares of Colibri Resources (CBI) are unchanged at $0.06 on Thursday.
