DIEPPE, NB, Nov. 18, 2019 /CNW/ - (CBI: TSX-V) – Colibri Resource Corporation ("Colibri" or the "Company") wishes to announce that it has received the results of a geological mapping study on its Evelyn gold project from Aurometallum Geological Services.
The study was conducted over a 20 day period and focussed on geological structural mapping to a semi detail 1:2000 and rock sampling over areas of strong geochemical soil anomalies. A total of 93 samples we taken in chips, channel, and selective samples. Sample results from the geochemical analysis remain outstanding and will be reported upon their receipt. The work was primarily focussed on two main areas which have been named "Cerro Rojo" (which is located in the south eastern quadrant of the claim block) and the "El Sahuaro" (which located in the north eastern quadrant).
It has been noted in the Aurometallum report that there are similarities to the structure, mineralization characteristics, and presence of certain indicator minerals found at La Herradura Mine operated by Fresnillo PLC. La Herradura is Mexico's largest producing gold mine and is located approximately 25km to the west of Evelyn.
Observations made during the study have identified 7 exploration targets of interest within the two areas thus far. Upon receipt of the geochemical sample results from the program Colibri will determine next steps of the program which will include drilling and a possible geophysics program.
The Evelyn property is located in northern Sonora, within the Caborca Gold Belt ("CGB"). The CGB is hosted by the Sonora megashear, which in turn is part of the regional Mojave-Sonora megashear, which extends from southern California through Arizona and Sonora. The Caborca Gold Belt hosts the Noche Buena Mine (167,200 ounces Au produced in 2018) which is located approximately 9 km southwest of Evelyn and La Herradura Mine (474,200 ounces Au produced in 2018) which is located approximately 25 km to the west of Evelyn. Geological mapping completed by Company geologists confirm that the Evelyn property hosts Orogenic-type lode Au mineralization similar to that described for other gold deposits within the CGB.
About Colibri Resource Corporation:
Colibri is a Canadian mineral exploration company listed on the TSX-V(CBI) focused on acquiring and exploring gold properties in Mexico.
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
For further information: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274, [email protected]