Welcome to our dedicated page for Colibri Resource news (Ticker: CRUCF), a resource for investors and traders seeking the latest updates and insights on Colibri Resource stock.
Colibri Resource Corporation reports on precious-metals exploration and corporate financing activity tied to its mineral property interests in Sonora, Mexico. The company is a Canadian junior mining issuer engaged in the acquisition, exploration, and development of precious metal properties, including its 100% interest in the EP Gold Project, a 49% joint venture interest in the Pilar Gold & Silver Project with Tocvan Ventures, and a 60% interest in claims at the Diamante Gold & Silver Project.
Recurring updates cover reverse-circulation drilling, assay results, target areas such as Plomo, San Perfecto and Banco de Oro, and exploration work in the Caborca Gold Belt. Company news also includes capital-structure actions such as debt conversions, convertible debenture units, common share purchase warrants, and reporting-status changes under semi-annual reporting rules for eligible venture issuers.
Colibri Resource (TSXV: CBI) has announced an extension to the closing date of its non-brokered private placement to March 28, 2025, following increased investor interest. The offering, initially announced on January 17, 2025, aims to raise up to $250,000 through the sale of 10 million units at $0.025 per unit.
Each unit consists of one common share and one warrant, with warrants exercisable at C$0.05 for 24 months after issuance. A first tranche closed on February 13, 2025, raising $140,400. Company insiders may participate in the offering, which would constitute a related party transaction under MI 61-101, though expected to be exempt from formal valuation and minority shareholder approval requirements.
Colibri Resource (TSXV: CBI) has announced significant drill results from its El Pilar Gold & Silver Project in Sonora, Mexico. The company, holding a 49% interest alongside partner Tocvan Ventures (51%), reported impressive findings from the first two holes of a recent 10-hole diamond drilling program totaling 1,167.5 metres.
Key highlights include:
- Hole JES-25-104 yielded 10.3 g/t Au over 9.7m, including 60.6 g/t Au over 1.6 meters at 87.8 meters depth
- Broad mineralization zone averaging 1.3 g/t Au over 83.5 meters from 14.1 meters below surface
- Northwestern Hole JES-25-103 returned 3.7 meters of 0.4 g/t Au, 39 g/t Ag, and 2.6% Cu
The company plans to advance the project with an up to 50,000-tonne bulk sample/test mine and a maiden resource estimate in 2025. Previous metallurgical studies showed promising recovery rates of 95-99% for gold and 73-97% for silver through gravity recovery with agitated leach.
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.