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Colibri Provides Project Update at EP Gold Project; Magnetic Survey Completed
Dieppe, New Brunswick--(Newsfile Corp. - March 13, 2024) -  Colibri Resource Corporation
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About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Provides Project Update at EP Gold Project; Magnetic Survey CompletedDieppe, New Brunswick--(Newsfile Corp. - March 13, 2024) -  Colibri Resource Corporation (TSXV: CBI) (OTC Pink: CRUCF) (\"Colibri\" or the \"Company\") is pleased to provide this update on exploration activities at the Company's flagship, the EP Gold Project, located in the Caborca Gold Belt, northwestern Sonora, which include:Airborne magnetic (drone) survey completed during January; report and maps have been received.Geological mapping and additional outcrop sampling were completed during January.Interpretation of new magnetic data within the project exploration dataset is advanced and continuing.Drill plan consisting of 4,400 metres (\"m\") to test 4 targets is finalized and application for a drilling permit is in progress.Ian McGavney, President & CEO of Colibri commented: \"We have only recently received the final map products from the drone magnetic survey, and it is already paying dividends. The results of the survey have provided \"proof-of-concept\" of our near-term drill plan, has provided key information for development of our EP Gold Project exploration model, and has resulted in the identification of new target areas.\"Drone Magnetic SurveyThe airborne magnetic survey was flown with a nominal flight height of 35 m, a line spacing of 50 m, and covered an area of 1,385 hectares. The survey was flown over the western part of the Plomo property adjacent to the Evelyn property and covered three of the previously prioritized target areas on the Plomo property. Survey equipment and parameters were very similar to the drone magnetic survey completed by the Company over the Evelyn property in 2020 (506 hectares) and the two data sets have been merged and processed providing for seamless coverage over the highest priority area of the EP project. Maps of total magnetic intensity and various maps of processed data have been received and included in the Company's EP project GIS data set. An interpretation of the magnetic data, completed by an independent geophysicist and independent of other EP project geo-data, illustrates NW-SE and NE-SW oriented lineaments (Figure 1) which characterize the Caborca Gold Belt structural fabric.Geological Mapping and Outcrop SamplingGeological mapping was completed over selected areas on the EP project dur...