Colibri Reports Evelyn Property Update: Phase 1 Drilling Complete
Colibri Reports Evelyn Property Update: Phase
1 Drilling Complete
Dieppe, New Brunswick--(Newsfile Corp. - June 13, 2022) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to report that Phase 1 of a planned 2 phase, 10,000 metres
("m"), fully funded Reverse Circulation ("RC") drill program at the Evelyn Gold Project ("Evelyn") located
in the Caborca Gold Belt, northwestern Sonora, has been completed.
Phase 1 drilling at the Evelyn project was completed during the first week of June and totalled 6,547 m
drilled in 45 holes.
Results from the first 22 holes (3,122 m) completed in the fall of 2021 were released
in February (
See news release dated February 8
th
, 2022
) and assays are pending for the remaining 23
holes (3,425 m) recently completed.
The Company's RC drill rig has been demobilized from the Evelyn property and has been moved to its
storage facility in Hermosillo for routine care and maintenance and is expected to be mobilized in the
near term to its Diamante Project located in eastern Sonora to complete a 2,000m drilling program.
PHASE 1 DRILL PROGRAM HIGHLIHGTS
Phase I drilling at Evelyn was planned to evaluate areas of anomalous and higher-grade Au assay
results from surface and trench exposures coincident with magnetic gradients and lineaments and with
structures identified through geological mapping.
Phase I drilling has been completed at selected targets
within the El Sahuaro, Cerro Rojo, and West Evelyn target areas.
Phase II drilling at the Evelyn Gold project is currently being planned to follow-up on positive results from
Phase 1, to test Chargeability targets derived from the Companies' Induced Polarization Survey
completed in 2021, and to evaluate targets under Tertiary cover based on on-going property wide
interpretation.
Highlights of previously released 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. (
See news release dated February 8
th
, 2022
)
Illustration 1: Evelyn property. Previously released Phase 1 drill program assay results
highlights.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/127536_3bd699a6641b8bb5_001full.jpg
Highlighted Sample Results from Phase 1A
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
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.
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:
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,
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/127536