Colibri Resource Expands El Pilar Project with Promising Drill Results

Colibri Resource ( (TSE:CBI) ) has issued an announcement.

Colibri Resource Corporation announced promising assay results from its recent diamond drilling program at the El Pilar Gold & Silver Project, revealing significant gold and silver mineralization. The drilling extended the Main Zone by 70 meters south, with notable high-grade findings of 7.2 g/t gold and 80 g/t silver over 2.6 meters. This expansion opens up opportunities for further exploration and resource estimation, potentially enhancing the project’s value and future development plans.

Spark’s Take on TSE:CBI Stock

According to Spark, TipRanks’ AI Analyst, TSE:CBI is a Underperform.

Colibri Resource Corporation faces substantial financial and operational challenges, with negative profitability and poor technical indicators. While recent corporate events suggest potential improvements, the stock remains risky due to high leverage and lack of revenue generation.

To see Spark’s full report on TSE:CBI stock, click here.

More about Colibri Resource

Colibri Resource Corporation operates in the mining industry, focusing on the exploration and development of gold and silver projects. The company has a 49% interest in the El Pilar Gold & Silver Project in Sonora, Mexico, partnering with Tocvan Ventures, which holds the remaining 51% interest.

YTD Price Performance: 50.0%

Average Trading Volume: 146,292

Technical Sentiment Signal: Buy

Current Market Cap: C$4.04M

Find detailed analytics on CBI stock on TipRanks’ Stock Analysis page.