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    CBI   CA1941683080

COLIBRI RESOURCE CORPORATION

(CBI)
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Colibri Resource Corporation Reports the Completion of the Induced Polarization Survey at the Evelyn Gold-Silver Project

09/09/2021 | 08:30am EST

Colibri Resource Corporation reported the completion of the Induced Polarization ("IP") survey at the Evelyn Gold-Silver Project. The Company is also pleased to announce that utilizing the updated property wide exploration dataset to include the IP survey results, a plan to drill up to 56 holes has been filed for permitting with SEMERNAT (Mexican environmental authority). IP Survey Results: A total of 82.5-line kilometres ("km") of 3D-IP have been competed in 2 phases at the Evelyn property. Based on the results of the first phase (announced June 24th, 2021) which covered the eastern half of the property, the Company elected to expand the survey to the west effectively covering approximately 90% of the property area. The results of the survey are presented in the 3 maps attached. The map of chargeability at 100 m vertical depth (Figure 1) indicates two broad areas of higher chargeability underlying the northeast and central-east regions of the property. The northeastern chargeability anomaly is coincident with surface sampling defining El Sahuaro target area and the central-east chargeability anomaly is coincident with surface sampling defining the Cerro Rojo target area and, in particular, the chargeability response is spatially associated with the Main Zone within the Cerro Rojo target area. The resistivity at 100 m vertical depth illustrates a sharp north-northwest trending gradient between a more resistive domain to the northeast and a less resistive domain to the southwest. This feature is evident throughout the model and is interpreted as a moderately westerly dipping fault zone. Within the northeastern domain, a zone of higher resistivity is closely associated with the chargeability anomaly underlying the El Sahuaro target area. The southwestern domain, generally characterized by lower resistivity, includes a well-defined domain of higher resistivity that is coincident with the Main Zone mineralization and the spatially associated chargeability anomaly. Both the chargeability and resistivity maps at 100 m depth indicate north-northwest trends underlying the western part of the property consistent with structural mapping completed on the property. The chargeability map at 200 m depth indicates a very strong anomaly underlying the chargeability anomaly at 100m and the company is tentatively interpretating this result to be due to a stronger chargeability response below the zone of oxidation. Drill Permit Application: An application requesting permission to drill up to 56 holes at Evelyn was filed with SEMERNAT (Mexican environmental authority) on September 3rd, 2021. The drill plan is based on interpretation of the Companies exploration dataset collected over the last 18 months which, in addition to the 3D-IP survey, includes an airborne magnetic survey, property wide structural geology mapping, extensive trench and outcrop sampling, and property wide soil sampling and analyses. Approval for the drilling atEvelyn is expected within four to six weeks. IP Survey Parameters and Location: The 3D IP survey on the Evelyn Property was completed in 2 phases with Phase 1 covering the eastern half and Phase 2 covering the western half. A total of 82.5-line km were surveyed covering approximately 90% of the Evelyn property area. The survey method was offset pole-dipole with receiver dipole spacing of 50 metres ("m"). Current injection points were extended past the ends of receiver lines to yield desired depth of investigation. Two smaller areas within the survey area were also surveyed with 25 m dipole spacing.


ę S&P Capital IQ 2021
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Financials
Sales 2020 - - -
Net income 2020 0,05 M 0,04 M 0,04 M
Net Debt 2020 0,93 M 0,74 M 0,74 M
P/E ratio 2020 99,1x
Yield 2020 -
Capitalization 9,67 M 7,65 M 7,64 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 80,5%
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Number of Analysts 1
Last Close Price 0,10 CAD
Average target price 0,29 CAD
Spread / Average Target 190%
Managers and Directors
Ronald J. Goguen Chairman, President, CEO & Secretary
Brian Crawford Chief Financial Officer & Director
Ian McGavney Chief Operating Officer
Roger Doucet Independent Director
William D. MacDonald Independent Director
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