Colibri and Partner - Core Drilling Discovers High Grade Gold Mineralization 300 metres East of Main Zone - Returning 21.6 g/t Gold and 209 g/t Silver Over 3.0 metres at the El Pilar Gold-Silver Project
Colibri and Partner - Core Drilling Discovers
High Grade Gold Mineralization 300 metres
East of Main Zone - Returning 21.6 g/t Gold
and 209 g/t Silver Over 3.0 metres at the El
Pilar Gold-Silver Project
Dieppe, New Brunswick--(Newsfile Corp. - March 26, 2025) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to share the assay results from the next three holes drilled in its
recent 10 hole diamond drilling program (1,167.5 metres) at the
El Pilar Gold & Silver Project
in
Sonora Mexico. Colibri holds 49% interest of the El Pilar along side its partner Tocvan Ventures, which
holds 51% ownership in this
advanced stage exploration project
. Tocvan is the operator of the El
Pilar. The final three holes from the program will be announced in due course upon receipt of data from
the operator.
"We are pleased to have discovered high grade gold and silver mineralization along the largely
untested North Hill Trend, which lies approximately 300 metres away from the Main Zone Trend.
The reported 3.0 metre interval of 21.6 g/t gold,
209 g/t silver, 6.71% lead, and 1.58% zinc (starting
8.3m below surface) among other notable gold and silver intervals in hole JES-25-108 provides
further substantial evidence that the gold and silver mineralization at the shared El Pilar project
could be expanded significantly and create even more meaningful value for our respective
shareholders. We will work with our partners to further evaluate this discovery and potentially
add material from this area to our planned 50,000 tonne test mine/bulk sample,"
commented,
Colibri President & CEO Ian McGavney.
Figure 1: Planview of Main Zone Area (modified from today's Tocvan release to highlight JV area) -
today's results in red boxes.
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Figure 2. 3D surface of the shared El Pilar (modified from today's Tocvan release to highlight JV
area). Drill results announced today are in red boxes. Note: Hole JES-24-101 is located on Tocvan
property and illustrates potential for continuity to border of the zone on the joint venture ground.
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Tocvan - News Release - March 26
th
, 2025
Highlights:
New Discovery of High-Grade Gold-Silver 300m East of Main Zone, On North Hill Trend
Highest Grade Interval Ever Outside of Main Zone
Near Surface Findings Ideal for Follow-up Trenching and Early Mine Development
1.2 g/t Au and 14 g/t Ag over 64.9 meters, from surface
(Hole JES-25-108)
including 21.6 g/t Au and 209 g/t Ag over 3.0 meters, from 8.3 meters
depth
and 2.8 g/t Au and 38 g/t Ag over 3.8 meters, from 49.7 meters depth
Also, East Expansion of Main Zone
with Hole JES-25-107
0.2 g/t Au and 5 g/t Ag over 108.2 meters, from surface
Including 0.4 g/t Au and 9 g/t Ag over 56.4 meters
Including 0.9 g/t Au and 20 g/t Ag over 12.6 meters
And 0.5 g/t Au and 8 g/t Ag over 7.4 meters
Also, 0.6 g/t Au and 7 g/t Ag over 4.3 meters
Results Pending for Three Additional Holes
March 26, 2025 /
Tocvan Ventures Corp. (the "
Company
") is pleased to announce results from the
latest core drilling at the Gran Pilar Gold Silver Project in mine-friendly Sonora, Mexico. Ten core
drillholes totalling 1,167.5 meters were completed earlier this year within the majority owned (51%) Main
Zone held in partnership with Colibri Resource Corp. Today's results are highlighted by
21.6 g/t Au, 209
g/t Ag and 6.7% Pb over 3.0 meters, also 2.8 g/t Au, 38 g/t Ag and 2.3% Zn over 3.8 meters
within
a broader anomalous zone averaging
1.2 g/t Au starting from surface to a vertical depth of 64.9
meters
(JES-25-108). The significance of this hole is its location
300 meters east of the Main Zone
Trend
in line with the North Hill Trend, making it the first discovery of high-grade gold mineralization
along the southern end of this corridor. The high-grade looks to be hosted within a highly fractured near-
surface fault zone with associated quartz veining. Given the proximity to surface this area will be selected
for future trenching to further evaluate the extent of high-grade mineralization for potential pilot mine feed.
In addition, hole JES-25-107, 100 meters east of the Main Zone has returned the best values to date on
the eastern flank of the Main Zone. The hole returned
108.2 meters of 0.2 g/t Au and 5 g/t Ag
from
surface, including
12.6 meters of 0.9 g/t Au, 20 g/t Ag and 0.5% Cu; 7.4 meters of 0.5 g/t Au and 8
g/t Ag; and 4.3 meters of 0.6 g/t Au and 7 g/t Ag
. Mineralization is hosted within a silicified
brecciated andesite with coarse veins of pyrite and chalcopyrite. Hole JES-25-109 only returned a few
isolated zones mineralization, core logging shows the hole intersected a large fault zone that separates
mineralization hit in past drilling (JES-22-53, and JES-24-79). Results for seven core drillholes have now
been released, results are pending for the remaining three holes which have tested the outer extents on
mineralization.
"Core drilling has just returned the highest-grade interval ever outside of the Main Zone, located
300 meters away on an emerging trend," commented, CEO Brodie Sutherland. "The best part is
that it is only meters below the surface allowing us to easily access the area with trenching we
have planned in the next phase of exploration. This provides us with another area to source
mineralization for potential pilot mine material. Trends like the North Hill remain largely untested
and suggest other areas across the broader expansion area hold significant potential for
hosting high-grade gold and silver. We look forward to continued drilling across the expansion
area to begin targeting additional resource potential."
Table 1. Summary of Drill Results in today's release. Intervals reported are drilled lengths, the
Company will update on estimated true thickness once all new drill data has been processed.
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Photo 1. Type samples of brecciated andesite with sulphide rich vein stockwork (JES-25-107, 51m to
64m downhole, averaging 0.9 g/t Au and 20 g/t Ag).
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Table 2. Summary of drill collar locations and orientations. Coordinates are in UTM NAD 27, Zone
12N
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Pilar Drill Highlights:
2024 RC Drilling Highlights include (
all lengths are drilled thicknesses
):
42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au
56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au
16.8m @ 0.8 g/t Au and 19 g/t Ag
2022 Phase III Diamond Drilling Highlights include (
all lengths are drilled thicknesses
):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (
all lengths are drilled thicknesses
):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (
all lengths are drilled thicknesses
):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at
1.9 g/t Au and 7 g/t Ag;
Extracted Grade Calculated at
1.2 g/t Au and
3 g/t Ag
Bulk Sample
Only Included Coarse Fraction
of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results:
80% Recovery of
Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of
99% Au and 73% Ag from Drill Core Composite at 120-meter
depth.
Based on management's strong belief in the project's potential, the Company is outlining a permitting
and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario
with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the
aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the
Company believes the onsite test mine will provide key economic parameters and showcase the mineral
potential of the area. In 2023, the Company completed an offsite bulk sample that produced important
data showcasing the potential to recover both gold and silver through a variety of methods including
heap leach, gravity and agitated leach (see August 22, 2023, news release for more details).
Quality Assurance / Quality Control
Rock and Drill samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora,
Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North
Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram
nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were
analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-
acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-
grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples
and blank samples were systematically inserted into the sample stream and analyzed as part of the
Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("
QP
") as defined by
Canadian National Instrument 43-101, has reviewed and approved the technical information contained in
this release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on
acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds
four high potential precious metal projects: 1) 49% Ownership of the Pilar Gold & Silver Project which is
believed to hold the potential to be a near term producing mine, 2) 100% of EP Gold Project in the
significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround
by Mexico's second largest major producer of gold on four sides, and 3) two highly prospective interests
in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project.
For more information about all Company projects please visit:
www.colibriresource.com
.
Contact
:
Ian McGavney, President, CEO and Director
Tel: (506) 383-4274
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved
the information contained herein. This news release includes certain "forward-looking statements."
These statements are based on information currently available to the Company and the Company
provides no assurance that actual results will meet management's expectations. Forward-looking
statements include estimates and statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management expects a stated condition or
result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results relating to, among other things, results of exploration,
project development, reclamation and capital costs of the Company's mineral properties, and the
Company's financial condition and prospects, could differ materially from those currently anticipated in
such statements for many reasons such as: changes in general economic conditions and conditions in
the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental
and other judicial, regulatory, political and competitive developments; technological and operational
difficulties encountered in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-
looking statements. These and other factors should be considered carefully, and readers should not
place undue reliance on the Company's forward-looking statements. The Company does not undertake
to update any forward-looking statement that may be made from time to time by the Company or on its
behalf, except in accordance with applicable securities laws.
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