Not to be the weight police, but you asked.
It's going to depend on your specific Colorado. I couldn't find any specific towing capacity in the 2016 Colorado owners manual, but the 2016 Trailer Life towing guide says you have 3500 lb towing capacity or 7000 lb towing capacity. The difference seems to be if you the towing package.
So at about 5000 lbs GVWR (ignore dry weight - it doesn't mean a thing), you should be OK if you've got the 7000 lb tow rating.
However, you also need to worry about payload. Look in your owners manual, starting at page 204, for how to figure out your payload. Most folks hit the payload limit before they hit the towing limit.
Remember, if you have a weight distributing hitch (WDH), which I would strongly suggest, it will add 50-75 lbs to your tongue weight.
1988 Coleman Sequoia - popup (1987-2007)
2012 Roo19 - hybid (2012-2015)
2016 Mini Lite 2503S - tt (2015 - ???)
2011 Traverse LT, 3.6L, FWD
2009 Silverado Ext Cab, 5.3L, 4x4, 3.73
2016 Silverado 2500HD Dbl Cab, 6.0L 4x4, 4.10