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Colibri Resource Corporations High Resolution UAV Magnetic Survey at Evelyn Gold Project Significantly Expands Areas of Interest
Dieppe, New Brunswick--(Newsfile Corp. - September 29, 2020) - Colibri Resource Corporation (T...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Resource Corporations High Resolution UAV Magnetic Survey at Evelyn Gold Project Significantly Expands Areas of InterestDieppe, New Brunswick--(Newsfile Corp. - September 29, 2020) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that it has received the results of a high resolution magnetic survey completed at the Evelyn Gold Project located in the Caborca Gold Belt, NW Sonora, Mexico.The survey was completed by Geo Digital Imaging de Mexico de C.V. (\"Geo Digital\"). Based on various processing of the magnetic data, the team at Geo Digital have provided a preliminary interpretation of the data which includes identification of three families of lineaments with orientations: 1) approximately northwest-southeast, 2) approximately northeast-southwest, and 3) north-south (see attached map). In addition, Geo Digital has prioritized 3 areas on the property for follow-up exploration work identified as the West Evelyn target area, the El Sahuaro target area, and the NW Cerro Rojo target area on the attached map.The Noche Buena mine, located 9km SW of Evelyn, has produced approximately 1.03 million ounces of gold since 2012 and reports a resource of 507,000 ounces of gold as of the year-end 2019 (source: Fresnillo PLC Annual Report 2019). A historical NI43-101 Technical Report on the Noche Buena property (April 28, 2006) describes northwest-southeast and northeast-southwest oriented structures, and their intersections, as primary controls on the occurrence and distribution of gold mineralization on the Noche Buena property. Colibri is unable to verify the information in the Technical Report on the Noche Buena property and the information in the report is not necessarily indicative of mineralization on the Evelyn property. Colibri is currently completing a trenching program on the property the objective of which is to extend the exposure of high-grade surface samples as well to determine vein and structural orientations.The Company is currently evaluating the magnetic survey and interpretation completed by Geo Digital with the historical project data that includes geological mapping, 341 chip and channel samples, property wide soil samples, and 5 drill holes. The NW Cerro Rojo target area identified by Geo Digital includes the north-south trending \"Saddle Vein\" which has returne...