News at Colibri with SSE in release NEWS RELEASE – Dieppe, NB. September 11th, 2020. (CBI-TSXV) Colibri Resource Corporation (“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 Runny Bum 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.