Colibri Drills 3 Metres of 12.19 Grams per Tonne Gold and 1 Metre of 33.7 Grams per Tonne Gold at Evelyn
Colibri Drills 3 Metres of 12.19 Grams per
Tonne Gold and 1 Metre of 33.7 Grams per
Tonne Gold at Evelyn
Dieppe, New Brunswick--(Newsfile Corp. - February 8, 2022) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") is pleased to report assays received from the Evelyn Gold Project
drilling program completed in December 2021. Highlights of results include an intersection of 12.19
grams per tonne ("g/t") Au over an intersection length of 3 metres ("m") in hole EVE21-027 and 33.7 g/t
Au over and intersection length of 1 m in hole EVE21-019.
Colibri is currently completing a fully funded 2-phase, 10,000 m reverse circulation ("RC") drill program
at the Evelyn Gold project, located in the Caborca Gold Belt, northern Sonora.
Assays have been
received from all 22 holes (3,122 m) completed during the period November 8 to December 18, 2021.
The results include higher grade intercepts of 12.19 g/t Au over an intersection length of 3 m and 33.7 g/t
Au over an intersection length of 1 m as well as widespread lower grade (< 1 g/t Au) assays.
Significant
assays (based on a 0.2 g/t Au cutoff grade) and intercepts are contained in the attached table and
illustrated on the drill traces on the attached map.
Ron Goguen, President & CEO of Colibri commented,
"We are very encouraged by the widespread
anomalous gold assays, the longer intercepts of moderate to low grade mineralization, and the
local occurrence of high-grade gold.
The drill program has very successfully built upon the
surface exploration programs completed since 2019 and will provide an invaluable basis as we
continue to explore the property and plan for further drilling."
Based on comprehensive exploration completed on the property since 2019 the Company has
prioritized 4 target areas on the property referred to as Cerro Rojo, El Sahuaro, West Evelyn, and
Central Evelyn. Phase 1 drilling of the 10,000 meters RC drill program has been planned as a
preliminary test of these target areas.
The drilling completed to date has been completed on the Cerro
Rojo and El Sahuaro targets.
Figure 1: Drill Samples on Magnetics - Evelyn Gold Project
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Highlighted Sample Results
Hole ID
From
To
Length
Au (g/t
Cutoff
EVE21-007
51
53
2
1.272
.2 g/t Au
includes
51
52
1
2.150
2 g/t Au
EVE21-012
147
149
2
0.208
.1 g/t Au
EVE21-013
151
152
1
0.243
.2 g/t Au
EVE21-014
29
30
1
0.749
.2 g/t Au
EVE21-014
39
41
2
0.574
.2 g/t Au
EVE21-014
44
45
1
0.200
.2 g/t Au
EVE21-014
74
76
2
0.318
.2 g/t Au
EVE21-014
140
141
1
0.227
.2 g/t Au
EVE21-015
46
47
1
0.527
.2 g/t Au
EVE21-015
56
78
22
0.172
.1 g/t Au
includes
60
64
4
0.220
.2 g/t Au
includes
72
73
1
1.160
.2 g/t Au
includes
77
78
1
0.254
.2 g/t Au
EVE21-016
17
20
3
0.210
.1 g/t Au
EVE21-016
38
39
1
0.264
.2 g/t Au
EVE21-016
75
77
2
0.344
.2 g/t Au
EVE21-016
101
102
1
0.207
.2 g/t Au
EVE21-017
16
18
2
0.289
.2 g/t Au
EVE21-017
24
25
1
0.817
.2 g/t Au
EVE21-017
151
152
1
0.328
.2 g/t Au
EVE21-018
5
9
4
0.143
.1 g/t Au
includes
8
9
1
0.277
.2 g/t Au
EVE21-018
40
41
1
0.320
.2 g/t Au
EVE21-018
69
70
1
0.274
.2 g/t Au
EVE21-018
77
102
25
0.103
.1 g/t Au
includes
101
102
1
0.706
.2 g/t Au
EVE21-018
143
144
1
0.246
.2 g/t Au
EVE21-019
8
9
1
0.283
.2 g/t Au
EVE21-019
28
43
15
2.360
.1 g/t Au
includes
28
29
1
33.700
5 g/t Au
includes
33
34
1
0.477
.2 g/t Au
includes
40
41
1
0.218
.2 g/t Au
EVE21-019
77
80
3
0.199
.2 g/t Au
EVE21-019
118
122
4
0.229
.2 g/t Au
EVE21-019
125
126
1
0.228
.2 g/t Au
EVE21-020
7
11
4
0.302
.1 g/t Au
includes
7
8
1
0.805
.2 g/t Au
EVE21-020
110
114
4
0.825
.1 g/t Au
includes
111
114
3
1.058
.2 g/t Au
EVE21-020
127
128
1
0.357
.2 g/t Au
EVE21-020
138
139
1
0.792
.2 g/t Au
EVE21-020
197
198
1
0.882
.2 g/t Au
EVE21-021
11
17
6
0.198
.1 g/t Au
includes
13
15
2
0.270
.2 g/t Au
EVE21-021
69
70
1
0.335
.2 g/t Au
EVE21-021
145
146
1
0.284
.2 g/t Au
EVE21-021
151
152
1
0.204
.2 g/t Au
EVE21-022
8
11
3
0.157
.1 g/t Au
EVE21-022
23
24
1
0.223
.2 g/t Au
EVE21-022
46
47
1
0.549
.2 g/t Au
EVE21-022
66
69
3
0.428
.1 g/t Au
includes
66
67
1
0.985
.2 g/t Au
EVE21-022
78
79
1
0.276
.2 g/t Au
EVE21-022
144
147
3
0.208
.2 g/t Au
EVE21-023
5
6
1
0.283
.2 g/t Au
EVE21-023
9
10
1
0.571
.2 g/t Au
EVE21-023
39
40
1
0.214
.2 g/t Au
EVE21-024
38
39
1
0.624
.2 g/t Au
EVE21-025
54
64
10
0.096
.1 g/t Au
EVE21-026
3
7
4
0.257
.1 g/t Au
includes
3
4
1
0.446
.2 g/t Au
EVE21-026
65
66
1
0.237
.2 g/t Au
EVE21-026
64
79
15
0.196
.1 g/t Au
includes
72
77
5
0.412
.2 g/t Au
EVE21-027
12
13
1
0.322
.2 g/t Au
EVE21-027
32
46
14
2.818
.1 g/t Au
includes
38
46
8
4.823
.2 g/t Au
includes
41
44
3
12.190
3 g/t Au
includes
42
43
1
30.000
5 g/t Au
EVE21-027
55
56
1
0.287
.2 g/t Au
EVE21-027
99
100
1
0.204
.2 g/t Au
EVE21-027
104
113
9
0.185
.1 g/t Au
includes
104
105
1
0.759
.2 g/t Au
includes
108
109
1
0.366
.2 g/t Au
EVE21-027
120
123
3
0.264
.2 g/t Au
EVE21-027
159
165
6
0.121
.1 g/t Au
EVE21-027
186
187
1
0.221
.2 g/t Au
Note: Reported lengths for all holes are intersection lengths. True widths are not known.
True widths for holes EVE21-026 and EVE21-027 are
estimated to be approximately 75% and 70% of intersection lengths respectively.
Table 1: Highlighted Assay Results - Phase 1 - Drilling November & December 2021
Cerro Rojo
The Company completed 9 holes totalling 962 meters in the Cerro Rojo area.
Two targets were tested,
which are the Main Zone and Cerro Rojo West.
Main Zone mineralization consists of a quartz vein
located in a fault zone hosted by greywacke and located at the contact with a fragmental andesite unit.
The Main Zone is discontinuously exposed over a strike length of approximately 120 m and has been the
object of historical small-scale mining.
The quartz vein pinches and swells along the strike length on
surface reaching a maximum thickness of approximately 1.5 m.
Grab samples from surface exposures
of the vein have returned assay values of 43.9 g/t Au and 40.1 g/t Au.
Hole EVE21-027 intersected
similarly high-grade mineralization consisting of 12.19 g/t Au over an intersection length of 3 m
(calculated at a 3 g/t Au cut-off grade) which includes an assay of 30 g/t Au over 1 m.
The wall rock
adjacent to the vein is consistently mineralized extending for an intersection length of 8 m incorporating
wall rock at a cut-off of 0.2 g/t Au and for 14 m incorporating wall rock at a 0.1 g/t Au cut-off grade.
Both
holes drilled on the Main Zone vein intersected multiple zones of mineralization.
Ian McGavney, COO of Colibri commented,
"
This is the first systematic attempt to explore and
potentially delineate the Main Zone vein.
The intersection of high-grade mineralization in hole
EVE21-027 is certainly consistent with the surface sampling.
We are also particularly
encouraged by the altered and mineralized wall rock adjacent to the high-grade intercept and the
multiple zones of mineralization intercepted in both holes EVE21-026 and EVE21-027.
These
results expand the scope of the Main Zone from a single vein exposed on surface."
Drilling at the Cerro Rojo West target returned a single intercept of 1.27 g/t Au over an intersection length
of 2 m which included an assay of 2.15 g/t Au over 1 m.
Continued stripping and mapping in the area of
the Cerro Rojo West showing indicates that the structure hosting the surface showing has been
subjected to post-mineralization faulting resulting in boudinage of the mineralized vein. Hole EVE21-012
was drilled in a southwest direction away from the Cerro Rojo West showing to test an interpreted
northwest trending magnetic lineament.
Hole EVE21-012 intersected .208 g/t Au over an intersection
length of 2 m near the end of the hole.
Figure 2: Drill Samples on Magnetics - Cerro Rojo Area
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El Sahuaro
The Company completed 13 holes totaling 2,160 metres at the El Sahuaro target area during November
and December 2021.
The focus for drilling was an area of higher-grade surface grab samples
coincident with northerly trending magnetic anomalies which are apparently overprinted by northwest
trending structures.
The target area is underlain dominantly by Jurassic andesite and rhyolite, however
the Company has recognized and mapped a unit of Proterozoic (?) metamorphic rock. The drill plan
included testing the metamorphic unit and its contacts with the volcanic rocks in addition to evaluating
potential structural orientations indicated by geological mapping and magnetics.
All holes drilled at the El
Sahuaro target intersected low grade mineralization including longer intercepts of 22 m with an average
grade of 0.172 g/t Au in hole EVE21-015, 25 m with an average grade of 0.103 g.t Au in hole EVE018,
15 m with an average grade of 2.360 g/t Au (includes an assay of 33.7 g/t) in hole EVE21-019, and 10 m
with an average grade of .096 g/t Au in hole EVE21-025
Ian McGavney, COO of Colibri commented,
"We are very encouraged by the occurrence and
distribution of anomalous and lower grade Au mineralization and by the local occurrence of
high-grade assays at El Sahuaro.
Integration of the drill data with our surface exploration and
geophysical datasets will be the basis for continued exploration at El Sahuaro directed at
discovering the primary structures controlling the distribution of mineralization recognized to
date."
Figure 3: Drill Samples on Magnetics - El Sahuaro Area
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Continued Exploration at Evelyn
Colibri is in the process of executing a fully funded 10,000 metre RC drill program on the Evelyn Gold
Project.
On January 27, 2022, the Company announced the re-start of drilling on the project after the
holiday season break. The Company is planning on completing the 10,000 metres of RC drilling on the
Evelyn property in two phases.
Phase 1, which has now resumed, is aimed at a preliminary evaluation of
the prioritized target areas on the property and will focus on the West Evelyn target area and selected
targets in the El Sahuaro area. Phase 2 drilling will be planned to follow up positive results from Phase 1
as well as test numerous targets including chargeability anomalies derived from the Induced Polarization
("IP") survey completed in 2021, targets derived from interpretation of the drone-borne magnetic survey
completed in 2020, and targets derived from the on-going property wide geological/structural
interpretation.
To support on-going interpretation and targeting, the Company will continue geological
mapping, will complete televiewer logging on selected holes with emphasis on structural geology, and
will be completing trace element geochemical analyses on selected RC drill holes and archived surface
samples.
Evelyn Geology and Exploration Model
The Evelyn Gold Project is an Orogenic-type gold target located in the Caborca Gold Belt of
northwestern Sonora.
The property is located approximately 25 kilometres ("km") east of La Herradura,
one of Mexico's largest open pit gold mines, which produced 425,288 ounces of gold in 2020 at an
average grade of 0.77 grams per tonnes ("g/t") Au and is also approximately 9 km northeast of the
Noche Buena mine which produced 87,988 ounces Au at an average grade of 0.52 g/t Au in 2020.
The
setting and style of mineralization at Evelyn is similar to that reported from La Herradura and Noche
Buena.
Higher grade mineralization on the Evelyn property consists of quartz veins and veinlets, ranging
from 2 - 3 centimeters up to 1.5 m hosted by fault and fracture zones with minor oxidized pyrite, iron
oxide, copper bearing oxide and carbonate minerals, and locally minor to trace amounts of galena,
chalcopyrite, and sphalerite.
Alteration of the host rocks includes iron bearing carbonate minerals,
quartz, sericite, and chlorite.
Lower grade mineralization is associated with altered volcanic rocks
containing minor amounts of oxidized sulfide.
Mineralization is hosted dominantly by Jurassic volcanic
rocks consisting of andesite and rhyolite.
The exploration model developed by the Company to-date relates the mineralization consisting of
higher-grade veins and veinlets hosted by altered and sulphide bearing lower grade volcanic rocks, to
north-northeast trending stratigraphy and layer-parallel fault zones and southeast striking, moderately
southwest dipping fault zones.
QAQC
Assays for the Evelyn Phase 1 drilling program have been completed at ALS Laboratories (ALS) with
sample preparation completed in Hermosillo, Sonora and Atomic Absorption and Fire Assay analyses
completed in Vancouver, Canada. Colibri employs industry standard QAQC protocol including the use of
control samples (Certified Standards and Blanks) and check assays.
Jamie Lavigne, P. Geo has
supervised the drilling program at Evelyn.
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.
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 has six exploration
projects of which five have exploration programs being executed in 2022. (1) The flagship
Evelyn Gold
Project
is 100% owned and explored by Colibri, (2) the
Pilar Gold & Silver Project
(optioned to
Tocvan
Ventures- (CSE: TOC
), (3) the
El Mezquite Gold & Silver Project
, (4) the
Jackie Gold & Silver Project,
and (5) the Diamante Gold & Silver Project.
3,4, and 5 are subject to earn-in agreements by
Silver
Spruce Resources - (TSXV: SSE
).
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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