Colibri Resource samples 27.1 g/t gold at Evelyn Project, Mexico

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Colibri Resource Corp. [CBI-TSXV] provided an update on the progress of exploration at the100%-owned Evelyn Gold Project located in the Caborca Gold Belt, northwestern Sonora, Mexico. On December 18, the company paused its Phase I drill program for the holidays at Evelyn after having competed 3,122 metres in 22 holes.

Colibri also reports the results of geological mapping and outcrop sampling recently completed at Evelyn which includes a grab sample which returned an assay result of 27.10 g/t gold from the El Sahuaro Target area.

Colibri commenced drilling at the Evelyn Gold Project on November 8 and paused drilling on December 18 for the 2021 holiday season after having completed a total of 3,122 metres of Reverse Circulation drilling in 22 holes. The drilling was completed as part of Phase I of a fully funded, two-phase, 10,000-metre drill program.

Phase I drilling was planned to evaluate areas of anomalous and higher-grade gold assay results from surface and trench exposures coincident with magnetic gradients and lineaments and with structures identified through geological mapping.

Phase I drilling to date has been completed at selected targets within the El Sahuaro and Cerro target areas. The company will resume Phase I drilling at the El Sahuaro and Cerro Rojo targets, as well as other prioritized targets on the property in January, upon receipt and interpretation drill assay results.

Recent geological mapping included determining the distribution of a Proterozoic metamorphic unit at El Sahuaro target area. Previous sampling of the unit has returned values of 44.9 g/t gold, 39.6 g/t gold, 24 g/t gold, 9.84 g/t gold, 5.58 g/t gold, and 3.0 g/t gold.

Recent geological mapping further refined and expanded the known extents of the unit and newly received sampling has returned multiple values greater than 1 g/t gold and includes a sample with an assay value of 27.1 g/t gold. Continued mapping in the Cerro Rojo target area, aimed at following up and delineating potentially mineralized structures interpreted from previous mapping and sampling in conjunction with interpretation of airborne magnetic results, has returned results of 2.08 g/t gold and 2.13 g/t gold.

The property is located approximately 25 km east of La Herradura, Mexico’s largest open pit gold mine, which produced 425,288 oz gold in 2020 averaging 0.77 g/t gold and is also approximately 9 km northeast of the Noche Buena mine which produced 87,988 oz gold averaging 0.52 g/t gold in 2020. The setting and style of mineralization at Evelyn is similar to that reported from La Herradura and Noche Buena.

Colibri has six exploration projects of which five have exploration programs being executed 2021 and 2022.


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