Category: Exploration and Development

Ian McGavney, President & CEO of Colibri commented: “Our work on the Diamante property during the past few months provides an excellent foundation for our drill plan. We are very pleased to be kick-starting 2024 with this drill program and we are looking forward to a very active and successful year at our various projects in Sonora, including our flagship EP Gold Project”.

Greg McKenzie, President and CEO, commented: “C460 was the largest zone mined when Quebradillas was previously in production by First Majestic Silver. The high-grade mineralization reported today extends the C460 Zone at depth to the south where limited drilling was previously performed. The mineralization in this area is higher-grade, and wider, than the previously mined stopes immediately above. We were pleasantly surprised by the much higher grades in this area and will follow up with additional drilling in this location in 2024.”

“A program of geological mapping and sampling will provide us with the information necessary to plan for further work and an effective drilling campaign at San Javier. Our objectives remain confirmation of the IOCG thesis for ore genesis at San Javier and the discovery a silver mineral endowment consistent with this deposit type,” stated Christopher Berlet, President and CEO of Canuc Resources Corp.

Regency Chairman Bruce Bragagnolo stated, “We are excited to acquire an option on the San Dimas Claims. The acquisition fits with our ongoing strategy of acquiring high grade properties in established mining camps and developing them to create substantial shareholder value. We firmly believe that, after Dios Padre, the San Dimas district is the next large scale mining district in Mexico and Regency plans to be firmly established in the area.”

“Breakthrough of the Guajes Tunnel is a critical milestone in the development of the Media Luna Project, which remains on track for first concentrate production in late 2024. The Guajes Tunnel will be the primary conduit for transporting ore and waste from the Media Luna deposit on the south side of the Balsas River to the processing plant on the north side and will materially improve efficiencies associated with the movement of employees, contractors, equipment, services, and supplies between both locations.”

Gavilanes comprises of eleven concessions (13,594.5 hectares) located in the Sierra Madre Occidental Province in southwestern Durango. The Property has a current NI 43-101 Inferred Resource of 18,174,000 contained silver-equivalent ounces at an average grade of 320.3 g/t Ag-Eq within 1,765,000 tonnes.

Geological logging indicated attractive alteration for potential gold mineralization in multiple holes of the 13 hole program. The visual logging of the RC chip samples shows evidence of wide zones of oxidized, strongly altered rocks with multiple veinlets, similar to previously drilled zones at the Cervantes Project.

Scott Emerson, President, commented: “This year the exploration was successful in tracing both the past producing Soledad and Soledad II structures, and identifying a new 3rd structure at Las Coloradas. These represent wide, high-grade, near-surface structures with the potential to deliver significant silver deposits.”

The results fit within the larger context of a district scale gold-silver composite dome system with superimposed gold-rich veins. Past drilling by Riverside intercepted high-grade gold in 4 of the 7 holes and this sampling over new areas, doubles the strike of the defined mineralization footprint.

Ian McGavney, President & CEO of Colibri commented: “Our new discovery at the West Sahuaro Zone is the thickest, most continuous, and highest grade gold mineralization intersected to date on the Evelyn property. We are extremely pleased with these results. The grade of mineralization discovered is approaching the reported production and resource grades at mines and development stage projects in the Caborca Gold Belt.”