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About Colibri Resource Corporation
Colibri Resource Corporation (OTC: CRUCF) is a Canadian-based mineral exploration company dedicated to the acquisition, exploration, and development of precious metal properties in Mexico. The company is listed on the TSX Venture Exchange (TSXV: CBI) and focuses on gold and silver exploration in some of Mexico's most prolific mining regions, including Sonora and the Sierra Madre Occidental. With a diversified portfolio of high-potential projects, Colibri aims to unlock value through systematic exploration and strategic partnerships.
Core Projects
- Pilar Gold & Silver Project: Located in Sonora, Mexico, Pilar is a joint venture with Tocvan Ventures (Colibri holds a 49% interest). The project is interpreted as a low-sulphidation epithermal gold-silver system hosted in andesite rocks. Pilar spans a 1.2-kilometer mineralized trend, with three primary zones of mineralization (Main Zone, North Hill, and 4-T). Recent drilling and metallurgical studies indicate the potential for near-term production, with ongoing efforts to establish a maiden resource estimate and a pilot mining facility to process up to 50,000 tonnes of material.
- EP Gold Project: Situated in the Caborca Gold Belt, a region known for its world-class orogenic gold deposits, the EP project covers 4,766 hectares. Surrounded by major gold producers, the project has delivered promising exploration results, including high-grade surface samples and drill intercepts. The San Perfecto target within the EP project has emerged as a top priority for further drilling.
- Sierra Madre Projects: Colibri holds interests in the Diamante and Jackie gold-silver projects. The Diamante property, located near major mining operations in the Sierra Madre Occidental, has shown promising results from recent drilling, including high-grade silver and base metal intercepts. The Jackie project is an early-stage exploration asset with significant discovery potential.
Strategic Positioning
Colibri operates in regions with favorable mining jurisdictions, abundant infrastructure, and proximity to major producers, enabling cost-effective exploration and development. The company’s joint venture partnerships, such as its collaboration with Tocvan Ventures, provide access to additional technical expertise and funding. Colibri’s focus on advancing projects to production readiness demonstrates its commitment to creating shareholder value while minimizing risk.
Competitive Landscape
Colibri competes in the highly fragmented and competitive mineral exploration industry. Its differentiation lies in its strategic focus on underexplored yet highly prospective regions in Mexico, its partnerships with experienced operators, and its methodical approach to exploration. The company also benefits from its ability to adapt to market conditions, as evidenced by its plans to capitalize on high gold prices through a pilot mining facility at Pilar.
Operational Expertise
Colibri employs advanced exploration techniques, including geochemical sampling, geophysical surveys, and diamond drilling, to identify and delineate mineralized zones. The company’s adherence to rigorous quality assurance and quality control (QA/QC) protocols ensures the reliability of its exploration results. Additionally, Colibri’s experienced management team and technical advisors bring decades of expertise in mineral exploration and project development.
Conclusion
With a diversified portfolio of high-potential projects, strategic partnerships, and a focus on advancing assets to production, Colibri Resource Corporation is well-positioned to capitalize on the growing demand for gold and silver. Its operations in Mexico’s prolific mining regions, combined with its commitment to systematic exploration and resource development, underscore its potential as a significant player in the precious metals sector.
Colibri Resource has completed 1,122 meters of diamond drilling across 10 holes at its El Pilar Gold & Silver Project in Sonora, Mexico, where it holds a 49% interest alongside Tocvan Ventures (51%). Samples from the first three drill holes have been sent for laboratory analysis.
The drilling program aims to infill and expand known mineralization corridors, contributing to a maiden resource estimate and Preliminary Economic Assessment for Pilar's Main Zone. Core samples show promising indicators of gold & silver mineralization, though assay results are pending.
The joint venture is planning a pilot mine facility to process up to 50,000 tonnes of material, building on successful 2023 bulk sample results that demonstrated strong gold and silver recovery through various methods. Historic drilling highlights include intersections of up to 116.9 metres at 1.2 g/t gold, with some sections reaching 12 g/t Au and 23 g/t Ag.
Colibri Resource (CBI: TSXV) has announced supplemental details for its non-brokered private placement offering announced on January 17, 2025. The company plans to issue up to 10 million units at $0.025 per unit, targeting gross proceeds of up to $250,000. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 per share for 24 months.
The proceeds allocation is structured as follows: 20% for exploration at Mexican precious metals projects including Pilar Gold and EP Gold Projects, 65% for arm's length creditors and loan interest payments, and up to 15% for reimbursing non-arm's length parties. The offering is expected to close mid-February 2025, subject to TSX Venture Exchange approval, with securities subject to a four-month hold period.
Colibri Resource (TSXV: CBI) has provided an update on its diamond drilling program at the El Pilar Gold & Silver Project in Sonora, Mexico, where it holds a 49% interest alongside Tocvan Ventures (51%). Six holes have been completed, totaling 672.2 metres, with a seventh hole currently in progress. Initial cores have been logged and are being prepared for geochemical analysis.
The project has shown promising historical drill results, including highlights such as 116.9 metres of 1.2 g/t gold, 108.9 metres of 0.8 g/t gold, and 94.6 metres of 1.6 g/t gold. Metallurgical testing has demonstrated strong recovery rates, with 62% gold recovery over a 46-day leaching period and gravity recovery tests showing 95-99% gold recovery.
The Pilar property is interpreted as a structurally controlled low-sulphidation epithermal system, with mineralization extending along a 1.2-kilometre trend, of which only half has been drill tested.
Colibri Resource (TSXV: CBI) has announced a new non-brokered private placement offering of up to 10 million units at $0.025 per unit, aiming to raise up to $250,000. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 per share for 24 months.
The proceeds will fund exploration at the company's Mexican precious metals projects, including the Pilar Gold Project and EP Gold Project. The offering is expected to close in mid-February 2025, potentially in multiple tranches.
Additionally, Colibri received final TSX Venture Exchange acceptance for its previous private placement, which raised $305,500 through the sale of 6,110,000 units, correcting earlier disclosure that stated 550,000 units had been sold. These units included warrants exercisable at $0.075 for 24 months.
Colibri Resource and partner Tocvan Ventures have initiated a 1,250-metre diamond core drilling program at the Pilar Gold & Silver Project in Sonora, Mexico. The company plans a test mine/bulk sample of up to 50,000 tonnes in Q3 2025, with ground preparation starting in Q1 2025.
The Pilar property has demonstrated significant drilling results across three primary zones: Main Zone, North Hill, and 4-T. Notable highlights include intersections of 116.9 metres at 1.2 g/t gold and 94.6 metres at 1.6 g/t gold. Previous metallurgical testing showed promising recovery rates, with 62% gold recovery over a 46-day leaching period and up to 99% gold recovery in gravity recovery with agitated leach tests.
Colibri Resource (TSXV: CBI) and Silver Spruce Resources have reported drilling results from their Diamante property in Sonora, Mexico. The highlight discovery includes an intercept of 94.80 g/t Ag, 0.08 g/t Au, 2.89% Pb, and 1.12% Zn over 2.50 metres.
The 2024 drill program completed 7 diamond drill holes totaling 800m across multiple zones including El Pillado, La Prieta, and El Mezquite-Raisudo. Despite encountering difficulties with core quality and recovery, successful results were obtained at El Pillado South, where drilling targeted a large color anomaly and intersected significant mineralization.
The program faced challenges with poor core quality and recovery, particularly in mineralized zones, which detailed evaluation and interpretation of results. However, the sampling confirms the presence of mineralization consistent with visual observations.
Colibri Resource and partner Tocvan Ventures will begin a 1,250-metre diamond core drilling program at the Pilar Gold & Silver Project in Sonora, Mexico in early January 2025. The drilling will focus on the Main Zone to develop a geological model for an upcoming maiden resource estimation.
The companies are planning a 50,000-tonne bulk test mine sample scheduled for next year, with ground preparation expected in Q1 2025. The test mine is projected to recover 800-1,400 ounces of gold and 5,000 ounces of silver, based on previous bulk sample results that showed 62% gold recovery and 50% silver recovery. The test mine facility is budgeted at USD $1.7 million.
Additionally, Colibri announced the closure of its private placement, selling 550,000 units for aggregate proceeds of $305,500, with each unit consisting of one common share and one warrant at $0.075 for 24 months.
Colibri Resource (TSXV: CBI) has announced an extension of its non-brokered private placement offering. The company aims to raise up to CDN$450,000 by issuing up to 9,000,000 units at CDN$0.05 per unit. Each unit consists of one common share and one whole non-transferable warrant, exercisable at CDN$0.075 per share for 24 months. The offering's closing date has been extended to November 3, 2024.
A first tranche closed on September 6th, 2024, raising $305,500. The offering has received conditional approval from the Exchange, with final approval pending. Proceeds will fund exploration expenses at Colibri's precious metals projects in Mexico, including the Pilar and EP gold projects, and for working capital. The securities are subject to a four-month and one-day statutory hold period and are not registered under U.S. securities laws.
Colibri Resource (TSXV: CBI) has closed the first tranche of its non-brokered private placement, raising $305,500. The offering consists of units priced at $0.05, each comprising one common share and one warrant exercisable at $0.075 for 24 months. Insiders participated, acquiring 550,000 units for $27,500. The company also sold its RC Drill Rig for USD $395,000 in cash and drill credits.
Proceeds will fund exploration at Colibri's Mexican precious metals projects, including the Pilar and EP gold projects. At the EP Gold Project's San Perfecto target, characterized by a 1,250m by 700m mineralized footprint, the company plans its first drilling program. Historical sampling has shown promising gold values, with 15% of samples returning over 1.00 g/t Au, up to 58.9 g/t Au in some areas.
Colibri Resource (TSXV: CBI) (OTC Pink: CRUCF) has reported promising results from geological mapping and outcrop sampling at its EP gold project in the Caborca Gold Belt, NW Sonora, Mexico. Key highlights include:
1. San Perfecto target: Samples returned values up to 2.99 g/t Au, extending the surface mineralization footprint by 350 meters.
2. La Culebra target: Samples yielded values up to 4.64 g/t Au over a 650-meter strike length.
3. San Perfecto's mineralization footprint now spans approximately 1,250m by 700m, remaining open to the southeast.
4. La Culebra shows potential for copper mineralization, with common malachite occurrences.
These results demonstrate significant discovery potential across the EP property, particularly at the San Perfecto target, which is interpreted as a well-developed high-level orogenic gold system.
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