{"id":1190250,"date":"2020-06-15T08:15:00","date_gmt":"2020-06-15T13:15:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1027055"},"modified":"2020-06-15T08:15:00","modified_gmt":"2020-06-15T13:15:00","slug":"colibri-to-sell-50-of-gold-project-in-sonora-to-silver-spruce","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1190250","title":{"rendered":"Colibri to sell 50% of gold project in Sonora to Silver Spruce"},"content":{"rendered":"

Colibri Resource (TSXV: CBI) announced that it has entered into an agreement with Silver Spruce Resources (TSXV: SSE) granting an option to purchase 50% of its wholly-owned Mexican subsidiary Yaque Minerales which holds the El Mezquite gold project in Sonora.<\/p>\n

In a media statement, Colibri explained that El Mezquite is a drill-ready precious metal project in the Caborca District, 10 kilometres northwest of the town of Tepoca.<\/p>\n

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El Mezquite is situated approximately 12 kilometres northeast of the Nicho deposit currently under development by Minera Alamos<\/p>\n<\/blockquote>\n<\/figure>\n

The 180-hectare property sits within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the northwest-trending Sonora Gold Belt of northern Mexico and is parallel to the precious metals-rich Mojave-Sonora Megashear.<\/p>\n

To get half of the stakes in Yaque Minerales, Silver Spruce has to make cash payments of $210,000 over 12 months and issue a promissory note to the vendor for $500,000 for a debenture due in October 2023.<\/p>\n

Upon full payment, Colibri and Silver Spruce propose to complete a 50:50 joint venture agreement to own and operate Yaque.<\/p>\n

Minimum work expenditures total $600,000 over the four-year term, with no specific annual requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"

The miners want to join forces to develop the drill-ready El Mezquite gold project.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1190250"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1190250"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1190250\/revisions"}],"predecessor-version":[{"id":1190309,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1190250\/revisions\/1190309"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1190250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1190250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1190250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}