EXPLORATION & DEVELOPMENT

Colibri samples high grade gold at Evelyn

Preparing for drilling at Mexican exploration projects

Staff reporter
Colibri says preliminary sampling results from Evelyn and El Mezquite are encouraging

Colibri says preliminary sampling results from Evelyn and El Mezquite are encouraging

It is advancing its El Mezquite property, also in Sonora state, in parallel, and reported samples from there of up to 1.63g/t gold and up to 204g/t silver.

COO Ian McGavney described the preliminary results as very encouraging, adding they confirmed the target types on both properties and helped provide a foundation for continued exploration planning.

Colibri said neither property had previously been drilled although both had historic workings.

It believes Evelyn, in northern Sonora, has "a great address" with similar characteristics to Fresnillo's Noche Buena and La Herradurra mines, both within a 30km radius.

El Mezquite, its recent acquisition in eastern Sonora, is about 10km northeast of Minera Alamos' Nicho deposit.

Colibri raised C$317,000 (US$237,000) at 5c per unit in a placement earlier this month to advance both projects.

It also has the Pilar gold project in Mexico but recently announced plans to sell its 23.55% interest in the Pitaya joint venture with Agnico Eagle Mines.

Colibri shares have ranged from C9.5c-2.5c over the past year and last traded at 6c to capitalise it at $3.1 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.