Northwire Canada EditionTuesday, October 20, 2026
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GOLD 4139.40 −0.5% SILVER 57.84 +1.0% COPPER 6.61 +0.5% OIL 98.31 −0.2% PALLADIUM 1101.75 −1.9% TORQ 0.055 +0.0% LMG 0.400 +0.0% MMY 0.760 +0.0% MOX 0.205 +0.0% ADZ 0.160 +33.3% NXS 0.150 +0.0% ETG 2.68 −11.6% EMNT 0.350 +0.0% PPM 0.120 −20.0% CERT 2.35 −0.6% KNG 0.950 −2.1% RYR 0.190 +0.0% VCG 1.20 +16.5% NVX 1.11 −0.9% LIO 0.170 +3.0% KG 0.165 +3.1% GOLD 4139.40 −0.5% SILVER 57.84 +1.0% COPPER 6.61 +0.5% OIL 98.31 −0.2% PALLADIUM 1101.75 −1.9% TORQ 0.055 +0.0% LMG 0.400 +0.0% MMY 0.760 +0.0% MOX 0.205 +0.0% ADZ 0.160 +33.3% NXS 0.150 +0.0% ETG 2.68 −11.6% EMNT 0.350 +0.0% PPM 0.120 −20.0% CERT 2.35 −0.6% KNG 0.950 −2.1% RYR 0.190 +0.0% VCG 1.20 +16.5% NVX 1.11 −0.9% LIO 0.170 +3.0% KG 0.165 +3.1%
M&A / Property Routine −

Silver Spruce Resources Inc. Provides an Update On Jackie and Diamante Projects

Colibri Resource Corp.

Executive Summary
  • The most recent release dated May 5, 2026, details a transaction between Silver Spruce Resources Inc. and Colibri Resource Corporation regarding the Jackie and Diamante projects in Sonora, Mexico.
  • Colibri is acquiring Silver Spruce's 50% interest in the Jackie Au-Ag property, bringing its total ownership to 100%. (Note: This contradicts May 2025 news where Colibri sold Jackie; this appears to be a finalization or reversal of terms).
  • Simultaneously, Colibri will relinquish its 25% interest in the Diamante Project.
  • Consideration for these transactions involves the issuance of C$25,000 in common shares and forgiveness of approximately C$80,000 in outstanding exploration expenditures incurred by Silver Spruce on behalf of Colibri.
  • Both transactions are subject to final approval by the TSX Venture Exchange.
  • Director Kevin O'Connor abstained from voting due to dual directorship with Silver Spruce.
Material Impact
  • The May 5, 2026 news represents a minor asset realignment rather than a transformative event for Colibri's core value proposition.
  • The financial consideration ($25k shares + $80k debt forgiveness) is immaterial relative to the company's market capitalization (approx. $4M-$7M).
  • Relinquishing 25% of the Diamante Project reduces the company's land package and potential upside, which is a negative signal for long-term growth prospects despite the debt relief.
  • The acquisition of Jackie interest appears inconsistent with May 2025 announcements where Colibri sold this asset to Silver Spruce; if this confirms a reversal or finalization, it suggests ongoing negotiation complexity rather than strategic clarity.
  • Given the stock price has already declined significantly from January highs ($0.31) to current lows ($0.11), this news does not provide a new catalyst to reverse the trend but reinforces the lack of major near-term value creation events.
CBI · Price
Company Overview
  • Company Name: Colibri Resource Corp. (TSXV: CBI).
  • Strategy: Leverage historic artisanal mining districts in Sonora, Mexico to advance two flagship gold-silver projects toward near-term production.
  • Flagship Project 1 - El Pilar Gold & Silver Project: Advanced Stage Exploration/Development; 49% owned by Colibri (51% Tocvan Ventures); planned bulk sample of 50,000 tonnes in Q1 2026.
  • Flagship Project 2 - EP Gold Project (Evelyn/Plomo): Drill-stage Exploration; 100% owned; located in the Caborca Orogenic Belt near Fresnillo plc concessions.
  • Management: Ian McGavney (CEO), Ron Goguen (Executive Chairman).
  • Qualified Persons: Jamie Lavigne, P.Geo., and Mark Smethurst, P.Geo.
Read the original news release →

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