Colibri Resource Completes Phase 1 Reconnaissance Drilling at the San Perfecto / Banco de Oro Targets at the EP Gold Project, Sonora, Mexico; Initial Assays Received and Additional Sampling Underway
Colibri Resource Completes Phase 1
Reconnaissance Drilling at the San Perfecto /
Banco de Oro Targets at the EP Gold Project,
Sonora, Mexico; Initial Assays Received and
Additional Sampling Underway
Dieppe, New Brunswick--(Newsfile Corp. - January 28, 2026) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") is pleased to provide an update on gold exploration drilling and assay
progress at its 100%-owned El Plomo Gold Project, a precious metal exploration property located in
Sonora, Mexico.
Summary:
Colibri Resource Corporation has completed its Phase 1 reconnaissance reverse circulation
drilling program at the El Plomo Gold Project in Sonora, Mexico, testing multiple priority gold
targets.
Initial gold assay results have been received from drill holes completed prior to the holiday break,
with additional targeted "shoulder" sampling underway to further evaluate mineralized intervals and
continuity.
Drill samples from holes completed after the holiday break are currently being prepared for
shipment to the assay laboratory, with additional gold assay results pending.
EL PLOMO PROJECT - PHASE 1 RECONNAISSANCE DRILLING
Colibri has completed its Phase 1 reconnaissance reverse circulation ("RC") drilling program at the El
Plomo Gold Project in Sonora, Mexico. The program comprised twenty-two (22) RC drill holes
completed across the San Perfecto and Banco de Oro target areas, together with one (1) RC drill hole
completed at the West Sahuaro target on the Evelyn Project, for a total of approximately 1,815 metres
drilled. Drilling was completed in stages, with an initial stage prior to the year-end break and the
remainder completed in January 2026.
The drilling program was designed as a shallow, multi-target campaign to test priority gold targets
across the El Plomo Project. The program was intended to evaluate near-surface gold potential and
identify geological vectors for follow-up exploration, rather than to define mineral resources. Targets
were selected based on the integration of geological mapping, surface geochemistry, and geophysical
surveys, focusing on areas with interpreted favourable structural and lithological characteristics for gold
mineralization. The areas tested during the program have seen limited modern drilling, with much of the
historical work focused on surface sampling and mapping.
Drilling completed subsequent to the holiday break totalled 909 metres, including approximately 177
metres at the West Sahuaro target. Samples from the holes completed following the holiday break are
currently being prepared for submission to the assay laboratory.
Initial gold assay results have been received for a portion of the drill holes completed prior to
the holiday break. Preliminary review of these results, together with geological logging,
indicates that gold mineralization has been intersected in multiple drill holes, occurring at
shallow depths and within several geological settings, including altered felsic intrusions,
oxidized volcanic rocks, and structurally controlled gold zones.
Based on the distribution of gold values and geological observations from this
reconnaissance drilling program, the Company has initiated additional targeted sampling of
previously unsampled intervals adjacent to mineralized zones ("shoulder sampling") to better
evaluate the continuity, thickness, and geometry of gold mineralization. Assay results from this
follow-up sampling, together with assays from the post-holiday drilling, are pending. Colibri
intends to release a comprehensive update of drilling and assay results once the analytical
dataset is complete and fully reviewed.
Map 1:
Location of Phase 1 reconnaissance reverse circulation drill holes completed at the San
Perfecto target, El Plomo (EP) Gold Project, Caborca Gold Belt, Sonora, Mexico.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/281926_ccef5eed943aa9c1_001full.jpg
"
We are pleased with the overall outcome of the maiden reconnaissance drilling program
," said
Ian McGavney, President and CEO of Colibri Resource Corporation. "
The drilling delivered a high
rate of mineralized intersections across multiple targets and has provided us with a solid
geological foundation. While additional sampling and interpretation are ongoing, the results to
date reinforce our understanding of the system and support continued, systematic
advancement of the El Plomo Project.
"
EVELYN PROJECT - WEST SAHUARO TARGET
Historical drilling at the West Sahuaro target on the Evelyn Project intercepted gold mineralization in all
six holes tested during the initial discovery drilling program reported on
December 19, 2023
, and several
holes ended in mineralization, validating the geological model for further testing.
In addition to the El Plomo drilling, the Company also completed a reconnaissance reverse circulation
drill hole at the West Sahuaro gold target on the Evelyn Project during the post-holiday drilling period.
The hole was drilled from a pad previously tested during the 2023 drilling program and was designed to
test for lateral continuity and to extend the depth of known mineralization. The current hole was drilled
from the same pad as one of the earlier holes (EVE23-198), which ended in mineralization, and was
oriented at an azimuth of approximately 240 degrees compared to the earlier hole drilled due west.
Samples from this hole have been collected and are pending analysis. Results will be reported once
assays have been received and reviewed.
QUALITY ASSURANCE / QUALITY CONTROL
All drill samples were collected, handled, and prepared in accordance with industry-standard quality
assurance and quality control (QA/QC) procedures and submitted to an independent accredited
laboratory for preparation and analysis. Quality control protocols included the insertion of blanks,
duplicates, and certified reference materials.
The technical information contained in this news release has been reviewed and approved by Jamie
Lavigne, P.Geo., an independent Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Ian McGavney
President, CEO & Director
Tel: (506) 383-4274
Email:
Notice Regarding Forward-Looking Statements:
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.
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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