DIEPPE, NB, Oct. 1, 2019 /CNW/ - Colibri Resource Corporation (TSX Venture - CBI) ("Colibri" or "The Company") is pleased to announce that it has contracted AuroMetallum Geology Consulting Services of Hermosillo, Mexico to complete a comprehensive geological mapping study of its Evelyn Gold Project near Caborca in Sonora, Mexico.
The project is utilizing a team of four members and will take approximately 3 to 4 weeks of field work to complete. The final report is expected to be prepared within 6 to 7 weeks.
The final comprehensive report will verify and absorb isolated work programs completed to date by Colibri and is intended to generate additional areas of interest not yet mapped or chip sampled. The report will also propose potential drilling targets that Colibri will drill test in Q4 2019. The Evelyn project has never been drilled.
"This is a very exciting time for Colibri in terms of exploration at the Evelyn Gold Project. We believe that Evelyn may have one of the best addresses in the Caborca Gold Belt that is not currently held by a major producer" states Ron Goguen.
Localized geological mapping and sampling on the Evelyn property in 2019 has been aimed at following up anomalies from a soil geochemistry survey completed in 2011. Most recently announced samples returning 4.81 g/t Au and 4.19 g/t Au were collected from an area comprised of abundant quartz in sub-crop with local iron-oxide staining. The newly discovered area was located by following up an anomalous soil sample of 0.33 g/t Au and is located approximately 1 km north-northeast of the Main Zone. The Main Zone consists of a 200m long moderately to steeply dipping Au-bearing quartz vein which has been the subject of historical mining. Sampling of the Main Zone vein by Colibri in 2019 returned grab sample values of up to 43.1 g/t Au (see Colibri news release dated March 26th, 2019).
AuroMetallum is an experienced full-service geological services company that has previously been retained by Newmont Goldcorp, Agnico Eagle Mines, and Centerra Gold.
Exploring Evelyn has been a focus for Colibri in calendar 2019 and by completing this new report the Company will be in position to confidently move forward with its maiden drilling program on the project in the near term.
About Evelyn Project
The Evelyn property is 506 hectares in size and is located in northern Sonora, within the Caborca Gold Belt of the Sonora Megashear.
The Caborca Gold Belt hosts many significant gold mines including the Noche Buena Mine (167,200 ounces Au produced in 2018) located approximately 9 km southwest of Evelyn and the La Herradura Mine (474,200 ounces Au produced in 2018) which is located approximately 30 km to the west of Evelyn. Both mines are operated by Fresnillo plc. Historical local mining on the Evelyn property was focused on a steeply dipping quartz-sulphide vein and associated quartz-carbonate alteration. The tonnage mined and ounces produced are not known to the Company. No drilling has been completed to date on the property.
Colibri Resource Corp. is a Canadian based junior gold exploration and development company which is focused in Sonora State, Mexico where it has five highly prospective projects at various stages of exploration. These projects are near currently producing, past producing, and development mines.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. 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.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
SOURCE Colibri Resource Corporation
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