Colibri Resource Corp samples high grade gold at Evelyn property, Mexico

    0
    256

    Samples of up to 43.9 grams per tonne Au from recently completed mapping and sampling initiatives on their Evelyn and El Mesquite properites in Sonora, Mexico.

    The Chief Operating Officer of Colibri, Ian McGavney, commented: “We are very encouraged by the preliminary results … on both the Evelyn and El Mesquite properties. The results confirm the target types on the respective properties and combined with the on-going compilation and interpretation of data provides a foundation for continued exploration planning”.

    Evelyn

    The Evelyn property is located in northern Sonora, within the Caborca Gold Belt of the Sonora Megashear. The Caborca Gold Belt includes the Noche Buena Mine (167,200 ounces Au produced in 2018) located approximately 9 km southwest of Evelyn and La Herradura Mine (474,200 ounces Au produced in 2018) which is located approximately 30 km to the west of Evelyn.

    • Two samples taken from the main quartz vein returned values of 43.9 and 7.28 g/t Au
    • Six samples of relatively strongly altered host rock adjacent and proximal to the main quartz vein returned values ranging from 0.13 to 0.57 g/t Au with an average of 0.32 g/t Au.
    • Five samples of less altered to relatively un-altered host rocks returned values ranging from less than detection limit to 0.05 g/t Au.
    • Two samples were collected from a separate area of sub-crop containing sheared and altered sedimentary rocks and minor quartz float. The samples returned values of 0.256 and 0.079 g/t Au

    El Mesquite

    El Mezquite property is located within the Sierra Madre, eastern Sonora and is located approximately 50 km southwest of the La India (Agnico Eagle) and the Mulatos (Alamos Gold) Mines The property is also located approximately 10 km northwest of the Nicho gold deposit held by Minera Alamos. Minera Alamos is planning an open pit – heap leach operation at Nicho and is advancing toward production in Q1 2020. (Doug Ramshaw – PDAC 2019)

    The recently completed mapping at El Mezquite confirms the mineralization is high sulphidation type. El Mezquite property is characterized by a central area of strongly altered and variably oxidized volcanic rocks. Historical grab sampling from this zone of alteration have returned values up to 3.41 g/t Au. During the mapping program recently completed by the Company a total of 24 grab samples of outcrop were collected. All samples were analyzed for Au and Ag and 9 samples were analyzed for selected elements. Selected samples are currently subject to mineralogy (thin section petrography and X-Ray Diffraction (XRD) analyses). Four areas were sampled:

    • Locality 1. Seven samples were taken from an area of outcrop characterized by strongly altered and oxidized rock. Au values range from 0.017 to 0.998 g/t Au and Ag values range from 0.9 to 152 g/t. Field relationships indicate that the highest grade samples from this location are silica altered rocks within an overall domain of intense clay alteration. The highest grade Au sample, 0.998 g/t, also returned the highest Ag grade of 152 g/t (4.43 ounces per ton).
    • Locality 2. Three samples were collected from an area of outcrop in a creek bed characterized by stockwork style alteration and associated oxidation within comparatively weakly altered fragmental volcanic rocks. The primary objective of sample collection at this locality was determination of volcanic rocks
    • Locality 3. Eight samples were collected in an area of historical working. The area of outcrop is characterized by observed pyrite concentrations up to approximately 5% and is weakly to un-oxidized. Au values from this location range from 0.018 g/t to 1.63 g/t. Ag values range from 1.2 g/t to 204 g/t (5.95 opt). As observed at locality 1, samples with higher Ag concentrations at this location correlate with higher Au grades. The orientation of the historical working and the distribution of grade in the current sampling suggest a northeast control on elevated Au and Ag grades.
    • Locality 4. Seven samples were collected from an exposure of strongly altered and variably oxidized rocks locally containing up to 10% pyrite. The samples returned lower Au and Ag values with Au values ranging from less than detection limit to 0.105 g/t and Ag values ranging from less than detection limit to 2.7 g/t.

    Although preliminary in nature and currently of limited scope, the Company notes that base metal contents and ratios, indicated by the current ICP analyses, are similar for sample locations 1 and 3 and are markedly different than those at location 4. This significance and potential use of this observation will be further evaluated and developed with additional analyses in future exploration at El Mezquite. Mineralogical studies, including thin section petrography and X-Ray Diffraction, are in progress on selected samples from all of the locations sampled.

    Private Placement

    On March 8th 2019 Colibri announced they’d raised $317,000 to advance the Evelyn and El Mezquite projects via a private placement.

    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.

    SOURCE: Colibri Resource Corporation



    Disclaimer
    MiningIR host a variety of articles from a range of sources, our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.

    Keep up to date with the latest news

    Enter your email below to get the latest news and insights from MiningIR

    Thank you for subscribing.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here