Colibri Resource (CBI) partner, Silver Spruce Resources (SSE), has completed its Phase 1 exploration drilling at the El Mezquite Au-Ag Property.
The first seven drill holes of the program were completed on June 14. The company is awaiting the results of gold, silver and multi-element analysis from the laboratory.
The remaining thirteen holes were completed as scheduled on July 28th.
A total of 2,485 metres were drilled in twenty holes from eight drill pad locations.
Ron Goguen, President and CEO of Colibri commented on the drilling campaign.
"We are very happy to see the completion of the inaugural drilling campaign at Mezquite Gold and Silver Project. We look forward to receiving the results and planning a Phase 2 program with our partners. Through our partnership with Silver Spruce, we have been able to advance and unlock potential value for shareholders at El Mezquite with no dilution to our market capitalization."
The results of phase 1 drilling, combined with recent and historical surface exploration, will be used as the basis for the design of a phase 2 drill program planned for after the summer rainy season.
Silver Spruce Resources is currently in the 2nd year of a four-year agreement with Colibri to earn 50 per cent of the El Mezquite Gold and Silver Project.
Colibri is a Canadian-based mineral exploration company focused on acquiring and exploring prospective gold & silver properties in Mexico.
Silver Spruce Resources Inc is a Canadian-based company focused on exploration for precious and base minerals.
Colibri Resource Corporation (CBI) opened trading at C$0.11 per share.
Silver Spruce Resources Inc. (SSE) opened trading at C$0.06 per share.