Colibri Intersects 7.5 m of 2.92 g/t Gold and 30 m of 0.73 g/t Gold from Near Surface in Maiden Drill Program at the Plomo Claims, EP Gold Project, Sonora, Mexico
Colibri Intersects 7.5 m of 2.92 g/t Gold and 30
m of 0.73 g/t Gold from Near Surface in Maiden
Drill Program at the Plomo Claims, EP Gold
Project, Sonora, Mexico
Dieppe, New Brunswick--(Newsfile Corp. - March 13, 2026) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to report assay results from its maiden Phase 1 reconnaissance
reverse circulation ("RC") drill program completed at the Plomo claims within the Company's 100%
owned EP Gold Project located in the prolific Caborca Gold Belt of Sonora, Mexico, a region that hosts
several significant gold deposits and mining operations including La Herradura and Noche Buena, which
are operated by Fresnillo plc.
The Phase 1 program comprised 22 RC drill holes completed across the San Perfecto (20 holes) and
Banco de Oro (2 holes) targets within the Plomo claim block, along with one RC drill hole completed at
the West Sahuaro target located within the Evelyn claim block of the EP Gold Project. The program
represents the first modern drill testing of multiple targets identified through geological mapping,
geophysical interpretation and surface sampling across the Plomo claims.
Highlights
7.5 m grading 2.92 g/t Au from 6 m, including 1.5 m grading 9.95 g/t Au (PL26-017)
30.0 m grading 0.73 g/t Au from 3 m, including 1.5 m grading 7.51 g/t Au (PL26-015)
30.0 m grading 0.45 g/t Au from surface, including 6 m grading 1.16 g/t Au (PL25-011)
19.5 m grading 0.44 g/t Au from 3 m, including 4.5 m grading 1.29 g/t Au (PL25-004)
1.5 m grading 12.55 g/t Au from surface (PL25-005)
Gold mineralization intersected in 18 of 22 holes drilled in the Phase 1 program
Gold mineralization intersected across an interpreted ~1.2 km mineralized structural
corridor at the San Perfecto target
Ian McGavney, President and CEO of Colibri Resource Corporation, commented
:
"We are extremely
pleased with the results from our maiden drill program at the Plomo claims. Intersecting gold
mineralization in 18 of 22 holes, including 7.5 metres grading 2.92 g/t gold and 30.0 metres
grading 0.73 g/t gold from near surface, represents a strong start and provides compelling
evidence of a broad mineralized system along the San Perfecto corridor. In addition, the results
from Banco de Oro, where drilling intersected 30 metres grading 0.45 g/t gold including higher-
grade intervals, further demonstrate the potential for multiple mineralized zones within the
Plomo claim block. Together with the encouraging results from West Sahuaro, these results
continue to strengthen our belief that the EP Gold Project hosts one or more significant gold
system within the Caborca Gold Belt."
Table 1 - Significant Gold Intercepts - Plomo
(0.10 g/t Au cutoff, maximum 3 m internal dilution; intervals are downhole lengths)
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
PL25-001
15.0
24.0
9.0
0.75
PL25-002
0.0
15.0
15.0
0.34
PL25-002
48.0
67.5
19.5
0.25
PL25-002
91.5
96.0
4.5
0.90
PL25-003
0.0
12.0
12.0
0.18
PL25-004
3.0
22.5
19.5
0.44
PL25-004
64.5
69.0
4.5
1.29
PL25-005
0.0
1.5
1.5
12.55
PL25-005
10.5
22.5
12.0
0.28
PL25-007
10.5
15.0
4.5
0.37
PL25-009
9.0
13.5
4.5
0.53
PL25-010
13.5
15.0
1.5
1.61
PL25-011
3.0
33.0
30.0
0.45
(including)
3.0
9.0
6.0
1.16
(including)
25.5
27.0
1.5
2.12
PL25-012
3.0
10.5
7.5
0.46
PL26-013
0.0
1.5
1.5
0.80
PL26-015
3.0
33.0
30.0
0.73
(including)
6.0
12.0
6.0
1.01
PL26-017
6.0
13.5
7.5
2.92
(including)
12.0
13.5
1.5
9.95
PL26-020
27.0
28.5
1.5
1.66
PL26-020
42.0
46.5
4.5
0.64
PL26-020
61.5
64.5
3.0
0.58
PL26-021
7.5
16.5
9.0
0.34
PL26-022
9.0
15.0
6.0
0.16
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Figure 1
: Phase 1 RC Drill Hole Locations - San Perfecto Target, Plomo Claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/288399_39d158ded47a4970_001full.jpg
San Perfecto Target - Phase 1 RC Drill Program, Plomo Claims
The Phase 1 RC drill program at the Plomo claims focused primarily on the San Perfecto target, where
geological mapping and geophysical interpretation identified a prospective structural corridor extending
approximately 1.2 kilometres across the claim block.
Several mineralized intervals occur within the first 25 metres of drilling in multiple holes, indicating the
presence of a shallow gold-bearing zone within the San Perfecto structural corridor.
Gold mineralization intersected during drilling is typically associated with quartz veining, silica flooding
and sericite alteration accompanied by disseminated pyrite, with locally anomalous copper values
observed in several holes. This alteration assemblage is consistent with an intrusion-related
hydrothermal system.
The San Perfecto structural corridor runs broadly parallel to historical placer gold workings extending
approximately 1.7 kilometres across the Plomo claims. The presence of these historical placer
workings, combined with the bedrock gold mineralization intersected in drilling, supports the
interpretation that the corridor may represent a primary bedrock source of placer gold historically
recovered in the area.
Gold values exceeding the Company's reporting cutoff of 0.10 g/t Au were encountered in 16 of the 20
holes drilled at the San Perfecto target, demonstrating widespread gold mineralization along the San
Perfecto structural corridor.
The widespread distribution of anomalous gold values and the shallow nature of several intercepts
suggest that systematic follow-up drilling will be required to evaluate the potential continuity of
mineralization along the San Perfecto corridor.
Next Steps
The Company is currently evaluating follow-up drill programs designed to test the continuity of
mineralization along the San Perfecto corridor and to further evaluate the potential for near-surface
mineralization identified in several drill holes. The Company believes the results of the Phase 1 program
demonstrate the effectiveness of the exploration model and provide a strong foundation for systematic
follow-up drilling along the San Perfecto structural corridor.
Banco de Oro Target
Two holes were drilled at the Banco de Oro target, located approximately 1.3 kilometres south of the
center of the San Perfecto mineralized corridor within the Plomo claim block. Both holes intersected
significant gold mineralization, including:
30.0 m grading 0.45 g/t Au from surface, including 6.0 m grading 1.16 g/t Au and 1.5 m
grading 2.15 g/t Au (PL25-011)
7.5 m grading 0.46 g/t Au from 3.0 m (PL25-012)
The Banco de Oro target hosts historical underground mine workings where high-grade gold
mineralization has been documented, including reported sampling of 298 g/t Au over a length of
approximately 2.4 metres from exposed mineralized material within the workings. Additional high-grade
grab samples have also been collected from surface exposures across the target area along a
mineralized trend interpreted to extend for up to approximately 800 metres.
Drilling completed during the current program was oriented eastward to test the interpreted extension of
the mineralized structure associated with the historical workings. The Company is encouraged by the
higher-grade intervals intersected and by the consistency in the widths of mineralized intervals observed
in the holes drilled to date. Together with the presence of historical workings and high-grade surface
sampling, these results highlight Banco de Oro as a compelling exploration target within the broader
Plomo claim block and provide a strong foundation for follow-up drilling.
The Company plans to follow up these encouraging results with step-out drilling designed to test the
potential extension of mineralization along the Banco de Oro trend. Company geologists will continue to
evaluate and model the results from the current program to guide future drilling along this prospective
structural zone.
West Sahuaro Target - Evelyn Claim Block
Drill hole EVE26-203 was completed to test the interpreted northwest-trending structural corridor at the
West Sahuaro target using a drill orientation of approximately 240°. The hole intersected multiple broad
intervals of anomalous gold mineralization hosted within altered and fractured rhyolite, confirming the
presence of stacked mineralized panels associated with the structural corridor. The hole was drilled to a
total depth of 177 metres and terminated in anomalous gold mineralization, indicating that the system
remains open at depth.
Gold mineralization in EVE26-203 occurs within zones of silicification, sericite alteration, fracturing and
local quartz veining, consistent with the structural model previously outlined by the Company. The
mineralized intervals occur within a series of sub-parallel, low-angle mineralized panels extending over a
vertical interval exceeding 100 metres, which are interpreted to be controlled by a northwest-trending
fault or shear corridor. This stacked mineralization style is consistent with mineralization intersected in
the Company's earlier drilling at West Sahuaro.
A six-hole drill program completed in 2023 (holes EVE23-196 through EVE23-201) intersected broad
intervals of gold mineralization hosted within the same altered rhyolite sequence. Previously reported
results from that program included 23 metres grading 0.35 g/t Au in hole EVE23-196 and 66 metres
grading 0.27 g/t Au in hole EVE23-198, including higher-grade intervals of 5 metres grading 0.77 g/t Au
and 6 metres grading 0.75 g/t Au, respectively. Together, these results outlined a mineralized zone
interpreted to consist of stacked gold-bearing panels associated with the northwest-trending structural
corridor.
The results from EVE26-203 further strengthen this interpretation and demonstrate that the mineralized
system continues along the structural trend
. Geophysical interpretation suggests that the Plomo-
Evelyn structural corridor extends for more than five kilometres across the Evelyn and Plomo
claim blocks, representing a significant district-scale exploration target that remains open
along strike and at depth.
Holes EVE23-198 and EVE26-203 are located approximately 140 metres
south of the northern claim boundary of the Evelyn Project, which adjoins mineral concessions held by
Fresnillo plc., one of Mexico's largest gold producers, and further highlights the prospectivity of this
portion of the Caborca Gold Belt.
The Company plans to follow up these encouraging results with additional drilling designed to test the
continuity of the stacked mineralized panels along the interpreted structural corridor. Ongoing geological
interpretation and modelling will help guide future drilling to evaluate the extension of this mineralized
system along strike and at depth.
Table 2 - Selected Composite Results - EVE26-203 (West Sahuaro)
(0.10 g/t Au cutoff, maximum 3 m internal dilution; intervals are downhole lengths)
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
EVE26-203
13.5
52.5
39.0
0.13
EVE26-203
67.5
123.0
55.5
0.12
EVE26-203
136.5
141.0
4.5
0.27
EVE26-203
175.5
177.0 (EOH)
1.5
0.14
Figure 2
: West Sahuaro Target Drill Hole Locations - Evelyn Claim Block
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/288399_39d158ded47a4970_002full.jpg
Sampling and QA/QC
RC drill samples were collected at 1.5 m intervals and transported in sealed bags to the Company's
secure facility in Caborca, Sonora, where they were subsequently collected by ALS Limited and
delivered to the ALS preparation laboratory. Gold analyses were completed by ALS Laboratories using
standard fire assay methods with atomic absorption finish.
Qualified Person
The technical information contained in this news release has been prepared in accordance with National
Instrument 43-101 - Standards of Disclosure for Mineral Projects and has been reviewed and approved
by Jamie Lavigne, P.Geo., an independent Qualified Person as defined by NI 43-101.
About Colibri Resource Corporation
Colibri Resource Corporation (TSXV: CBI) is a Canadian junior mining company engaged in the
acquisition, exploration, and development of precious metal properties in Sonora, Mexico. Colibri holds
a 100% interest in the EP Gold Project, a 49% joint venture interest in the Pilar Gold & Silver Project with
partner Tocvan Ventures (CSE:TOC), and an additional 60% interest in highly prospective claims at the
Diamante Gold & Silver Project.
ON BEHALF OF THE BOARD
Ian McGavney
President, CEO & Director
Tel: (506) 383-4274
Email:
Notice Regarding Forward-Looking Statements:
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the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
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.
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