- Colibri (CBI) has received a permit to drill at its El Mezquite Gold and Silver Project in Sonora, Mexico
- The drill permits are issued through the company’s wholly-owned Mexican subsidiary
- The El Mezquite Project is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex
- Colibri is down 3.85 per cent, with shares trading at C$0.12 at 1:23 pm ET
Colibri (CBI) has received a permit to drill at its El Mezquite Gold and Silver Project in Sonora, Mexico.
The drill permits are issued through the company’s wholly-owned Mexican subsidiary Yaque Minerales S.A de C.V. The 180-hectare property is easily accessible from the main highway and unpaved road which traverses through the centre of the known gold mineralization.
The El Mezquite Project is located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending “Sonora Gold Belt” of northern Mexico.
“Colibri is very happy to see this milestone reached as we have high expectations for the project. The company anticipates a transformational year corporately with steady news for its investors. Colibri is excited about its active basket of projects in Sonora.
Shareholders will be eager to follow along as we begin a near term drilling program at El Mezquite with its partner Silver Spruce Resources (partner funded), receive results from the current drilling program underway by its earn-in partner Tocvan Ventures at the Pilar Gold & Silver Project (partner funded), and its near term drilling program at the flagship 100% owned Evelyn Gold Project (fully funded).
On top of this we expect to advance the recently acquired Diamante Gold & Silver Project with Silver Spruce to drill stage later this year,” said Colibri President and CEO Ron Goguen.
Silver Spruce Resources is in its first year of a four-year earn-in agreement to acquire 50 per cent of the El Mezquite Gold & Silver Project.
Colibri is a Canadian-based mineral exploration focused on acquiring and exploring prospective gold and silver properties in Mexico.
The company has six exploration projects of which five currently have exploration programs being executed or planned.
Colibri is down 3.85 per cent, with shares trading at C$0.12 at 1:23 pm ET.