Colibri Reports Drilling Results and Provides Exploration Plans for the Evelyn Property
Colibri Reports Drilling Results and Provides
Exploration Plans for the Evelyn Property
Dieppe, New Brunswick--(Newsfile Corp. - August 25, 2022) - Colibri Resource Corporation (TSXV:
CBI) (OTC Pink: CRUCF) ("Colibri" or the "Company") is pleased to report assay results from the
second half of its Phase 1 drill program completed on the Evelyn property located in the Caborca Gold
Belt, northwestern Sonora.
The second half of the Phase 1 drill program was initiated in February 2022,
was completed in May 2022, and included 3,101 metres ("m") of reverse circulation ("RC") drilling
completed in 22 holes.
In total, Phase 1 drilling on the Evelyn property includes 6,223 m of RC drilling
completed in 42 holes.
The objective of Phase 1 drilling on the Evelyn property has been to test three primary surface showings
at the Cerro Rojo, El Sahuaro, and the West Zones which have been derived from mapping and
trenching completed over previous exploration programs.
New results include an intersection of 0.165 grams per tonne Au (g/t Au) over an intersection length of 86
m which includes 22 m at an average grade of 0.316 g/t Au in hole EVE22-042 from the Main Zone.
Combined with other newly drilled intercepts from Main Zone drilling, previously released drill and
surface sampling results, and evaluation of geophysical data sets, the Main Zone remains a high priority
target on the Evelyn property for the discovery of an orogenic gold deposit.
The Main Zone is located within the Cerro Rojo target area and has been the subject of historical small-
scale mining along a high-grade vein which Colibri has sampled at surface and includes a value of 43.9
g/t Au.
Significant assay results from the second half of the Phase 1 drill program are illustrated on the map of
the property in Figure 1 and are tabulated in Table 1 below.
Figure 1 -Evelyn Phase 1 Drilling - Highlighted Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/134831_02868331e4e7992b_001full.jpg
In addition to drilling during the period, the Company continued geological mapping on the Property and
also collected and analyzed additional soil samples infilling historical property wide soil surveys.
The
results of the assays recently completed as well as exploration completed on the property are discussed
below including plans for Phase 2 drilling and continued exploration on the property.
Ron Goguen, President & CEO of Colibri commented,
"Our Phase 1 drilling on the Evelyn property
has confirmed the presence of significant gold mineralization at Evelyn, especially at the Main
Zone and at El Sahuaro. We feel that these encouraging results warrant follow-up exploration
and drilling. With Phase 1 drilling and additional surface exploration complete we are now able
to finalize our next steps.
We are very pleased with the quality of the Phase 2 drill targets being
developed and exploration plan which integrate Phase 1 drill results with our geophysics,
sampling, and property wide geological and structural model."
Phase 1 Results
Main Zone - Cerro Rojo
The Main Zone mineralization occurs as a quartz vein that is discontinuously exposed over a strike length
of approximately 120 m.
The quartz vein pinches and swells along the strike length on surface reaching a
maximum exposed 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 (Part 1 of Phase 1 drilling)
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.
Mineralization in
the hanging wall of the Main Zone vein includes multiple quartz vein intersections and low to locally
moderate grade Au assay values in chlorite-carbonate altered host rocks.
At a 0.1 g/t Au cut-off grade,
hole EVE21-027 intersected 2.818 g/t Au over an intersection length of 14 m.
Holes EVE22-028 and EVE22-029 were drilled during the second half of Phase 1 to further test the
Main Zone vein and hanging wall along strike.
Holes EVE22-030 and EVE22-042 were drilled in a
direction away from the Main Zone vein to test the altered footwall environment of the Main Zone vein.
Highlights of the mineralization intersected include:
Hole EVE22-028
- intersected multiple zones of mineralization including 0.129 g/t Au over an
intersection length of 19 m.
The projected intersection of the Main Zone vein was characterized by
intensely altered sedimentary rocks and interpreted to be a pinch in the pinch and swell vein structure.
Hole EVE22-029
- similarly intersected multiple zones of mineralization and included a high-grade
intercept of 3.275 g/t Au over an intersection length of 2 m.
Hole EVE22-030
- intersected 87 m at an average grade of 0.127 g/t Au including 8 m at an average
grade of 0.336 g/t Au.
Planned to reach a target depth of 250 metres, Hole EVE22-030 was lost due to
drilling conditions at a depth of 129 m.
Hole EVE22-042
- drilled beside EVE22-030 as an attempt to extend the hole to the target depth of 250
m.
The hole intersected multiple zones of mineralization including 0.165 g/t Au over an intersection length
of 86 m which included an intersection of 0.551 g/t Au over 10 m.
EVE22-042 did not reach target depth
as it was also abandoned due to drilling conditions at 177 m.
An assay of 0.374 g/t Au over an interval of
1 m was returned from a sample at 174 m depth: 4 m from the end of the hole.
The drill hole traces with
Au intercepts for hole EVE22-030 and EVE22-042 are illustrated in Figure 2.
Figure 2 - Main Zone Drill Intercepts on Apparent Chargeability at -100m
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/134831_02868331e4e7992b_002full.jpg
Comments
Geological mapping completed during the period indicates that the Main Zone is located in an area
favourably characterized by the intersection of northeastern and northwestern trending structures (Figure
2). The Main Zone vein is hosted by sedimentary rocks at the contact with a fragmental andesite.
The
recently completed geological mapping has also demonstrated that the sedimentary rocks are in fact
more widely distributed than previously mapped, thus increasing the scope of targeting the favourable
sedimentary rock - andesite contact.
The Main Zone mineralization, including mineralization intersected in holes EVE22-030 and EVE22-042
directly overlies a discrete Induced Polarization ("IP") chargeability anomaly (Figures 2 and 3).
The
chargeability anomaly is coincident with an apparent resistivity anomaly and is most strongly developed
at a depth greater than 200 m (Figure 3).
The exploration model relates Main Zone mineralization,
exposed on surface and intersected in Phase 1 drilling, to an altered rock body with elevated
disseminated sulphide at depth which is controlled by the intersection of the northeast and northwest
structures. Phase 2 drilling is planned in the near term to test this model to a depth of at least 500
metres. (Figure 3)
Figure 3 - Main Zone Drill Holes Over Apparent Chargeability
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/134831_02868331e4e7992b_003full.jpg
El Sahuaro
El Sahuaro Zone is located in the northeastern part of the property and is characterized by north-
northeast trending magnetic anomalies. Detailed structural mapping in the northeast part of the property
indicates a dominant north-northwestern strike and easterly dip to foliation and veins.
The structural
orientations observed are consistent with north-northwest trending structures interpreted from magnetic
intensity contrasts and an apparent dislocation and offset of the north-northeastern magnetic trend.
The
El Sahuaro area is underlain by Jurassic rhyolite and andesite and by Proterozoic (?) metasedimentary
rocks.
All holes drilled at El Sahuaro have intersected Au mineralization.
Highlights of part 2 Phase 1 drilling at El Sahuaro include:
EVE22-043
- 0.92 g/t over an intersection length of 3 m.
EVE22-044
- 0.627 g/t Au over an intersection length 6 m.
EVE22-046
- 1.943 g/t Au over an intersection length of 2 m and 0.51 g/t Au over an intersection length
of 4 m.
Intercepts from part 1 of Phase 1 drilling previously released includes 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 a 1 m sample 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.
Comments
In addition to interpretation and follow up drilling of El Sahuaro Phase 1 drilling, the Company is currently
evaluating the interpretation of a major, untested, fault zone located immediately west of El Sahuaro
Phase 1 drilling as a geological setting to host a gold deposit.
West of El Sahuaro zone, a sharp north-northwest trending gradient in apparent resistivity (Figure 4) is
interpreted as a fault zone that separates dominantly rhyolite to the southwest with a mixed succession of
rhyolite and andesite with Proterozoic metamorphic rocks to the northeast.
To further explore the interpretation of apparent resistivity, the Company completed in-fill soil sampling of
the historical soil geochemistry survey which resulted in a coherent soil anomaly over an approximately
500 m length and 200 m width with a north-northwest trend: parallel to the resistivity gradient (Figure 4).
Anomalous soil samples in the anomaly area are interpreted to be locally derived include an assay of 1.5
g/t Au.
The model being explored by the Company relates mineralization intersected in Phase 1 drilling at El
Sahuaro, and the Au soil anomaly, to a major controlling structure indicated by the apparent resistivity
gradient.
Figure 4 - Evelyn Assay Values on Apparent Resistivity
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/134831_02868331e4e7992b_004full.jpg
Near term exploration plans for El Sahuaro and the northeastern part of the property include trenching
over the soil anomaly and Phase 2 drilling to test the exploration model at selected sites along the
structure and elsewhere in the El Sahuaro target area. This work will begin shortly after receiving the
required permits.
Southeast Cerro Rojo
Three holes were also drilled on selected, previously untested, targets in the Cerro Rojo target area to
the southeast of Main Zone.
Results of these holes are contained in table 1 and highlights of the mineralization intersected include:
EVE22-048
- intersected 3 mineralized horizons including 3.18 g/t Au over an intersection length of 1 m
and an intersection of 0.49 g/t Au over 3 m.
EVE22-049
- contained three narrow and low grade intercepts.
Combined with the mapped surface showing that was targeted, mineralization intersected in holes
EVE22-048 and EVE22-049 support interpretation of a northwest striking and northeast dipping
mineralized structure.
West Zone
The West Zone is located in the northwestern quadrant of the property and is characterized by north-
northeast trending magnetics which, similar to El Sahuaro, appear to be overprinted by north-northwest
trending structures.
Eight holes totaling 723 m were drilled at the west zone during the Phase 1 drill
campaign all drilled in part 2 of the program.
Narrow mineralization characterized by vein quartz was
intersected in 5 of the 8 holes.
Highlights of the mineralization intersected include:
EVE22-033
- 1.915 g/t Au in a 1 m sample in hole
EVE22-036
- 1.295 g/t Au in a 1 m sample in hole
A north-northeastern strike and moderate easterly dip is interpreted from the airborne magnetic survey
and modelling magnetic susceptibility measurements completed on RC drill chips.
The drill intercepts
(Table 1) combined with lower grade to anomalous Au intersections have been interpreted as 2 sub-
parallel north-northeast striking and easterly dipping zones.
The Company has projected this orientation
down to the east where it intersects a flat lying apparent resistivity feature.
This intersection is planned as
a target for Phase 2 drilling. (Figure 5)
Figure 5: West Zone - Phase 2 Target
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/134831_02868331e4e7992b_005full.jpg
Target Area
Hole ID
From
to
Length
Au g/t
Cutoff
Main Zone
EVE22-028
24
43
19
0.129
0.1
Main Zone
incl
37
43
6
0.182
0.2
Main Zone
EVE22-028
55
57
2
0.115
0.1
Main Zone
EVE22-028
73
76
3
0.240
0.1
Main Zone
EVE22-028
83
84
1
0.293
0.2
Main Zone
EVE22-028
117
118
1
0.295
0.2
Main Zone
EVE22-029
36
41
5
1.393
0.2
Main Zone
incl.
36
38
2
3.275
0.2
Main Zone
EVE22-029
122
125
3
0.337
0.2
Main Zone
EVE22-029
129
131
2
0.160
0.1
Main Zone
EVE22-030
25
112
87
0.127
0.1
Main Zone
incl.
24
49
25
0.201
0.1
Main Zone
incl.
25
43
18
0.230
0.1
Main Zone
incl.
28
36
8
0.336
0.2
Main Zone
incl.
101
106
5
0.215
0.2
Main Zone
EVE22-042
19
105
86
0.165
0.1
Main Zone
incl.
19
41
22
0.316
0.1
Main Zone
incl.
22
32
10
0.551
0.2
Main Zone
incl.
60
68
8
0.184
0.1
Main Zone
incl.
100
105
5
0.232
0.1
Main Zone
EVE22-042
125
131
6
0.178
0.1
Main Zone
EVE22-042
173
174
1
0.324
0.2
El Sahuaro
EVE22-043
3
5
2
0.374
0.1
El Sahuaro
EVE22-043
33
34
1
0.328
0.2
El Sahuaro
EVE22-043
55
56
1
0.172
0.1
El Sahuaro
EVE22-043
63
68
5
0.596
0.1
El Sahuaro
incl.
65
68
3
0.920
0.2
El Sahuaro
EVE22-043
88
91
3
0.285
0.2
El Sahuaro
EVE22-043
120
121
1
0.166
0.1
El Sahuaro
EVE22-043
131
135
4
0.334
0.1
El Sahuaro
incl.
131
133
2
0.571
0.2
El Sahuaro
EVE22-044
38
39
1
0.101
0.1
El Sahuaro
EVE22-044
43
49
6
0.627
0.2
El Sahuaro
EVE22-044
59
60
1
0.134
0.1
El Sahuaro
EVE22-044
82
83
1
0.262
0.2
El Sahuaro
EVE22-045
9
12
3
0.448
0.1
El Sahuaro
incl.
9
10
1
1.135
0.2
El Sahuaro
EVE22-046
9
11
2
0.662
0.1
El Sahuaro
incl.
9
10
1
1.190
1.0
El Sahuaro
EVE22-046
40
41
1
0.139
0.1
El Sahuaro
EVE22-046
49
50
1
0.477
0.2
El Sahuaro
EVE22-046
56
57
1
3.600
1.0
El Sahuaro
EVE22-046
60
61
1
0.410
0.2
El Sahuaro
EVE22-046
99
101
2
1.308
0.2
El Sahuaro
includes
99
100
1
2.370
1.0
Target Area
Hole ID
From
To
Length
Au g/t
Cutoff
El Sahuaro
EVE22-046
105
107
2
1.943
0.5
El Sahuaro
includes
105
106
1
3.360
1.0
El Sahuaro
EVE22-046
148
149
1
0.101
0.1
El Sahuaro
EVE22-047
37
41
4
0.510
0.2
El Sahuaro
includes
39
41
2
0.838
0.5
El Sahuaro
EVE22-047
140
143
3
0.170
0.1
Cerro Rojo
EVE22-048
8
9
1
0.112
0.1
Cerro Rojo
EVE22-048
62
63
1
3.180
1.0
Cerro Rojo
EVE22-048
115
118
3
0.488
0.1
Cerro Rojo
includes
117
118
1
1.005
0.2
Cerro Rojo
EVE22-049
85
87
2
0.173
0.1
Cerro Rojo
EVE22-049
100
101
1
0.186
0.1
Cerro Rojo
EVE22-049
111
112
1
0.101
0.1
Cerro Rojo
EVE22-050
no significant assays
West Zone
EVE22-031
26
27
1
0.148
0.1
West Zone
EVE22-032
no significant assays
West Zone
EVE22-033
23
24
1
1.915
1.0
West Zone
EVE22-034
no significant assays
West Zone
EVE22-035
52
53
1
0.515
0.5
West Zone
EVE22-036
32
33
1
1.295
1.0
West Zone
EVE22-036
75
76
1
0.238
0.2
West Zone
EVE22-037
34
35
1
0.124
0.1
West Zone
EVE22-038
no significant assays
EVE22-039
not drilled
EVE22-040
not drilled
EVE22-041
not drilled
Table 1 - Highlighted Drill Results - Phase 1 (part 2)
EVELYN GEOLOGY AND EXPLORATION
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,
Mexico's largest open pit gold mine, 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 being developed and tested by the Company relates the mineralization consisting
of higher-grade veins and veinlets hosted by altered and sulphide bearing lower grade metamorphic and
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.
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 has six exploration
projects of which five currently have exploration programs being executed 2021 and 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:
http://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-