Colibri Resource's Evelyn Gold Project is Gathering Major Attention as Significant New Discovery Potential

2020-03-24 / @thenewswire

(TheNewswire)

March 24, 2020 – TheNewswire - MONTREAL, QUEBEC - MomentumPR’s client Colibri Resource Corporation, is listed on the TSX Venture exchange under the symbol: CBI (TSXV:CBI) (OTC:CRUCF).

Momentum PR is pleased to have produced an informative and comprehensive report on Colibri Resource Corporation, available here – Momentum Report - Colibri Resource.

Colibri Resource Corporation Highlights

- The company currently has five promising exploration properties at various stages of exploration in the Sonora Gold Belt. The Evelyn Project is the Colibri flagship exploration project located in northern Sonora.

- The state’s mineral-rich area is home to miners such as Fresnillo – Mexico’s largest gold producer and the world’s leading silver producer.

- The El Mezquite 180-hectare site has the potential to host low grade/large tonnage deposits with high sulphidation mineralization. Of 321 rock chip samples, 42 showed high values of >0.10 g/t Au and up to 3.41 g/t Au & 198 g/t Ag.

- Pitaya is located on the Caborca Orogenic Belt in northwest Sonora, an area known for its gold-rich quartz veins. Exploration just two kilometres east at Fresnillo’s Tajitos Project has identified a minimum of 400K Oz.

- Colibri has received the required drilling permits and recently contracted Major Drilling for its maiden drilling program at its Evelyn gold project located 60 kilometres northwest of Caborca, Mexico. The drilling may commence as early as next week.

Colibri Resource Corp. (CBI:TSXV) is a Canadian junior formed explicitly “to acquire and explore historical mining districts in Mexico.” Colibri’s five Sonora properties are located in or near a free-trade zone, which facilitates cross-border movement and general business. The properties enjoy ease of access, well-developed infrastructure, an available pool of skilled labour and a large degree of common logistics, owing to the sites’ relative proximity to each other.

The Evelyn Project considered a significant new discovery opportunity, enjoys open pit potential and contains free gold in oxide ore type, with orogenic mineralization. Buoyed by the gold project’s prospects, the Canadian mining company recently engaged the services of Major Drilling for its eminent drilling program.

The mapping study and drilling program comes by virtue of a localized chip sampling survey in which the samples returned as high as 4.81g/t AU and 4.19 g/t Au in an area with high levels of iron oxide staining. A sampling of the main zone returned 43.1 g/t Au, in sample values, early last ear.

Colibri optioning its Pillar and selling its Pitaya gold properties should help minimize stock dilution while also help accelerate their development. The sale of non-core properties should also allow the company to get the much-needed financing to advance their other highly prospective gold projects while, for now, wisely financing Evelyn and El Mezquite Gold Projects and upholding shareholder value.

The Evelyn project is set to be one of the key drivers propelling the company’s underlying value in part because it is one of the last claims of land not held by a major producer in the area and financing is being generated internally rather than through stock dilution. In fact, Mexico’s largest gold mining company dominates the area by holding upwards of 300,000 hectares of claims around the Evelyn property. Steady news is expected from the Company for the foreseeable future as advancements are made and milestones achieved.

Momentum PR is pleased to have produced an informative and comprehensive report on Colibri Resource Corporation, available here – Momentum Report - Colibri Resource

If you would like more information on Colibri Resource; www.colibriresource.com

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