Colibri Resource Corp Begins Trench Program Targeting Areas of Known Gold Mineralization at Evelyn Gold Project in Caborca Gold Belt, Mexico
Dieppe, New Brunswick--(Newsfile Corp. - September 11, 2020) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announced that the Company has received an exploration permit to create up to 2.2 km of trenches in up to 13 separate areas on Evelyn Gold Project, located in the Caborca Gold Belt, northwestern Sonora.
Recent geological mapping and prospecting on the Evelyn property has resulted in the recognition of significant gold mineralization in outcrop and sub crop as highlighted in a Colibri news release dated August 6th, 2020. The objectives of the planned trenching program are to extend mineralization at selected occurrences and to provide exposure for geological and structural mapping of veins and structures. It is anticipated that the current work will provide the basis for planning a fall drilling program. Trenching is scheduled to begin immediately. The locations of planned trenches are indicated in the attached map.
"These are very exciting and busy times for Colibri and its shareholders." says Ian McGavney COO of Colibri. "In addition to the on-going exploration at the Evelyn Gold Project, which is being completed in preparation for a fall drill program, our option partners Tocvan Ventures and Silver Spruce Resources are also advancing the Pilar and El Mezquite projects respectively. Both companies are also working towards completing drill programs this fall."
Tocvan Ventures is currently in its first year of a five year option agreement to earn 51% of Colibri's Pilar Gold Project and Silver Spruce is in its first year of a four year program to earn 50% of the El Mezquite Gold Project. Mineralization at Pilar is a highly fractured, oxidized, low sulphidation epithermal gold system exposed near surface with drilling to a maximum dept of approximately 125 metres. Recent work by Tocvan has demonstrated excellent exploration potential at depth and along strike. El Mezquite is at a less advanced stage than Pilar but surface sampling, mapping, and a 3DIP geophysical study indicates the project has excellent potential to host an economic, high sulphidation, epithermal deposit. El Mezquite is 10 km away from the Nicho Deposit being developed for production in early 2021 by Minera Alamos.
Further announcements will be made of the progress made on Evelyn, Pilar, and El Mezquite in due course.
Figure 1: Trench Map at Evelyn Gold Project
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4269/63621_74b1beb0541188f5_001full.jpg
About Colibri Resource Corporation:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico. The Company currently has five active projects at various stages of exploration. Two projects, the Evelyn and Jackie are 100% owned and explored by the Company and threeprojects Pilar, El Mezquite, and Pitaya are currently subject to joint venture or earn agreements to arms length parties.
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 further information: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274, rongoguen@colibriresource.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63621