- Colibri Resource Corporation (CBI) has restarted its Phase 2 exploration drilling at the Evelyn Gold Property
- The company received its exploration permit from the Mexican environmental authority SEMERANT to do so
- Geologists from Colibri have also recently submitted soil samples for a soil gas hydrocarbon program
- Shares of Colibri Resource are unchanged on the day, trading at C$0.04 at 2 pm ET
Colibri Resource Corporation (CBI) has restarted its Phase 2 exploration drilling program at the Evelyn Gold Property.
The company got the green light after receiving its exploration permit from the Mexican environmental authority SEMERANT.
The company plans to complete two drill programs. The first will be a follow-up to its Phase 1 reverse circulation drilling program done in early 2022 and will include a planned 2,000 meters in five holes. This will test the results of the induced polarization survey that was done in 2021.
The second drill program will intend to explore under extensive alluvial cover north of the main zone and will comprise drilling a range of short, close-spaced reverse circulation holes. The program’s objective, the company said, will be to locate the northern extension of the main zone and to test the location of other potentially mineralized structures interpreted by Colibri.
Once the short hole program is completed, Colibri will conduct a series of trenches across its West Sahuaro target, which is based on a discrete soil anomaly where its location and orientation are coincident with a strong resistivity gradient found in the 2021 IP survey results.
Additionally, Colibri’s geologists have also submitted soil samples for a soil gas hydrocarbon program.
Based out of New Brunswick, Colibri is a mineral exploration company focused on acquiring and exploring gold and silver properties in Mexico. At present, the company has six exploration projects, five of which have exploration programs that were executed throughout 2021 and 2022.
Shares of Colibri Resource are unchanged on the day, trading at C$0.04 per share at 2 pm ET.