Colibri Confirms Distribution of Historical High-Grade Samples at Its Newly Acquired Plomo Gold Project
Colibri Confirms Distribution of Historical
High-Grade Samples at Its Newly Acquired
Plomo Gold Project
Dieppe, New Brunswick--(Newsfile Corp. - April 4, 2023) - Colibri Resource Corporation (TSXV: CBI)
(OTC Pink: CRUCF) ("Colibri" or the "Company") is pleased to provide assay results of sampling
recently completed during the due diligence phase of the Plomo gold property acquisition.
Results
confirm the occurrence and distribution of historical high grade gold ("Au") samples and includes a high
of 12.3 grams per tonne ("g/t") Au.
Results and highlights of the due diligence sampling and mapping includes:
Twenty-five grab samples returned values > 1.0 g/t Au, including 6 with values > 5 g/t Au.
A total of 62 grab samples taken by Colibri returned Au assay values > 0.1 g/t Au.
(Illustration 1)
Channel sample values range from 8.03 g/t Au to 0.089 g/t Au over sample lengths (true
widths) of 1.7 meters ("m") to 0.1 m. (Table 1)
The occurrence and general distribution of higher-grade samples (> 1.0 g/t Au) evident in
the historical work was validated with the due diligence sampling.
Illustration 1: Samples Map at Plomo and Evelyn Projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/161219_9febe0f2349bb953_001full.jpg
Sample
Easting
Northing
Elevation
Au (g/t)
Channel
Length (m)
Structure
Azimuth
Dip
8451854
353756
3444035
445
1.375
0.1
Shear Zone
345
30
8453854
353751
3444033
445
0.089
0.5
Shear Zone
344
26
8481854
353682
3444040
454
3.83
0.3
Shear zone
330
40
8483854
353674
3443915
431
1.285
0.35
Shear Zone
330
31
8478854
353761
3444151
457
3.25
0.35
Shear zone
305
55
8482854
353901
3444235
492
8.03
0.5
Shear zone
14
35
8474854
353652
3444148
458
4.09
1.7
Shear Zone
155
58
Table 1: Plomo Due Diligence Channel Samples
The Plomo property is located in the Caborca Gold Belt ("CGB") of northwestern Sonora, Mexico.
The
Plomo covers 4,260 hectares ("Ha") and is adjacent to the Company's Evelyn Gold Project.
Mineral
exploration tenures completely surround the Evelyn-Plomo Gold project (4,766 Ha combined) and are
held almost exclusively by Fresnillo, one of Mexico's largest gold producers which in 2022 produced
approximately 636,000 ounces Au and 53,000,000 ounces Ag.
On March 16, 2023 Colibri announced the acquisition of the Plomo property and on March 21, 2023
announced the acquisition terms.
As part of the property review and due diligence process, Colibri
completed geological mapping and sampling on the most advanced target areas at San Perfecto,
Banco de Oro, and Pavorreal.
A total of 97 samples were taken, consisting of 7 channel samples and 90
chip (grab) samples.
Ian McGavney, COO of Colibri commented,
"We continue to be enthusiastic about the Plomo
acquisition and the potential for discovery on the combined Evelyn-Plomo ("EP") property holdings.
By combining and interpreting the respective data sets we have significantly advanced our geological
understanding and our exploration model.
We will continue the desk-top work to further evaluate the
robust combined data set and will be initiating boot and hammer work in the very short term to support
the prioritization of drill targets."
Plomo and Evelyn Next Steps
Based on compilation and field work completed to date, the Company provides the following preliminary
interpretations as the basis for exploration planning:
1
.
San Perfecto and El Sahuaro areas represent a single mineralized system hosted by a well-
developed northwest to north-northwest trending and moderately northeast dipping deformation
corridor occurring over an approximately 2.4-kilometer ("km") strike length.
Next stage geological
mapping and sampling will be focused on the area between San Perfecto and El Sahuaro to test
this hypothesis.
2
.
A major north-northwest trending fault zone mapped and inferred from magnetic interpretation on
the Evelyn property is interpreted to extend to the southeast on the western Plomo property and to
potentially be a control on the occurrence of the Banco de Oro mineralization.
This interpretation
provides for an approximately 1.3 km trend length on the Plomo property which will be a focus for
prospecting, geological mapping, and sampling.
3
.
Tourmaline alteration is recognized on the property, in the San Perfecto target area and in
particular in the Pavorreal target area.
Geological mapping and detailed sampling is planned to
evaluate the distribution of tourmaline alteration and its association or control on the occurrence
and distribution of gold.
Exploration will proceed with the objective of prioritizing drill targets on the Evelyn-Plomo ("EP")
property.
On the Evelyn side, the Company is currently completing detailed geological mapping on a
target area defined by soil geochemistry and is evaluating geochemical methods to explore through
alluvium cover.
On the Plomo side, the following exploration is being planned to fully realize the potential
of the property:
Property wide, high resolution airborne magnetic survey
Evaluate and re-process existing Induced Polarization data.
Complete a soil geochemistry survey over the southeastern half of the property.
Prospecting, geological mapping and outcrop sampling over selected earlier stage and
conceptual targets on the property.
QUALIFIED PERSON
Jamie Lavigne, P. Geo and a Director for Colibri is a Qualified Person as defined in NI 43-101 and has
reviewed and approved the technical information in this press release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on
acquiring and exploring prospective gold & silver properties in Mexico. The Company holds seven high
potential precious metal projects of which six have planned exploration programs for calendar 2023.
For more information about all Company projects please visit:
www.colibriresource.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not
purely historical are forward-looking statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. These forward-looking statements are made as of
the date of this news release, and the Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those projected in the forward-
looking statements. Although the Company believes that the plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that they will prove to be
accurate.
For information contact: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274,
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