Colibri and Partner - Core Drilling Returns 1.6 g/t Gold Over 36.6 meters from Surface which Includes High-Grade of 15.2 g/t Gold Over 1.2 meters and 5.8 g/t Gold Over 3 meters at El Pilar Gold Project
Colibri and Partner - Core Drilling Returns 1.6
g/t Gold Over 36.6 meters from Surface which
Includes High-Grade of 15.2 g/t Gold Over 1.2
meters and 5.8 g/t Gold Over 3 meters at El
Pilar Gold Project
Dieppe, New Brunswick--(Newsfile Corp. - March 19, 2025) -
Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to share the assay results from the next two 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 a
51% ownership in this advanced stage exploration project. Tocvan is the operator of the El Pilar.
"We are very happy with the assay results from hole JES-25-105.
The hole is highlighted by 36.3
metres of 1.6 g/t gold (starting at surface and is contained within a longer intercept of 66 metres
at 1.0 g/t gold).
These are extremely favorable grades to encounter when looking for an open
pitable gold deposit in Sonora and confirms the site as a source of moderate grade material for
the planned 50,000 tonne test mine/bulk sample
. We look forward to releasing the results from
the remaining 6 holes of this program in due course as the data is received."
commented, Colibri
President & CEO Ian McGavney.
Figure 1: Planview of Main Zone Area - today's results highlighted in red. Intervals reported are drilled
lengths, the Company will update on estimated true thickness once all new drill data has been
processed.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/245228_1a58228ef46a4bc1_001full.jpg
Figure 2. 3D North to South Long-Section of the drilled Main Zone area. Drill results announced today
are in red.
To view an enhanced version of this graphic, please visit:
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Tocvan - News Release - March 19
th
, 2025
Highlights:
Main Zone Infill Provides Upgrade to Historic Drilling
1.6 g/t Au over 36.3 meters from surface within 66 meters of 1.0 g/t Au
(Hole JES-25-
105)
including 15.2 g/t Au over 1.2 meters, from 35.1 meters
depth
and 5.8 g/t Au over 3.0 meters, from 9.0 meters depth
Mineralization from
surface to 97.4 meters averaging 0.7 g/t Au
Results Pending for Six Additional Holes
Calgary, Alberta
-
March 19, 2025
- Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (WKN:
TV3/A2PE64) (the "
Company
"), is pleased to announce results 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
1.6 g/t Au over 36.3 meters from surface,
including 15.2 g/t Au over 1.2 and 5.8 g/t Au over 3.0 meters, starting from 9.0 meters vertical
depth
(JES-25-105). Mineralization
correlates with at surface mineralization
and lies within a
broader anomalous zone drilled that
averages 0.7 g/t Au over 97.4 meters
. The result from JES-25-
105, is a notable improvement from local historic drilling that returned 76.6 meters of 0.5 g/t Au (hole
J-7) and 83.8m of 0.5 g/t Au (hole JESP-10), both drilled vertical from surface. To the southeast 100
meters, core hole JES-25-106 returned anomalous mineralization from surface to 122.2 meters depth
with the most significant interval returning 3.45 meters of 0.4 g/t Au. Mineralization is known to weaken
through this zone. More testing is required to determine the orientation of higher-grade zones known to
occur in the area. Results for four core drillholes have now been released, results are pending for the
remaining six holes.
"Infill drilling through the Main Zone is identifying precisely where we can source moderate to
high-grade ore during pilot and full-scale mining." commented, CEO Brodie Sutherland.
"Positioned directly below surface trenching, we have a high degree of confidence in the
extension of significant mineralization at Pilar. We are excited to evaluate the results for the
remaining core holes as they will provide insight towards future development along parallel
trends across the property. All information will be fed into our planned maiden resource
estimate that will look to outline the resource potential across the Main Zone, an important
milestone leading towards unlocking the full property potential."
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
JES-25-105
0.00
97.35
97.35
0.65
3.60
including
0.00
66.00
66.00
0.95
4.93
including
0.00
36.30
36.30
1.59
8.08
including
9.00
12.00
3.00
5.75
5.60
and
35.1
36.3
1.20
15.35
4.30
JES-25-106
0.00
122.20
122.20
0.03
0.98
including
112.60
122.20
9.60
0.15
0.64
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.
Photo 1. Close up of high-grade gold sample (JES-25-105, 1.2 meters of 15.4 g/t Au and 4 g/t Ag, from
35.1m depth vertically from surface).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/245228_1a58228ef46a4bc1_003full.jpg
Sample ID
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
675107
0.00
2.55
2.55
2.09
18.7
675108
2.55
5.60
3.05
1.29
11.5
675109
5.60
9.00
3.40
0.29
24.3
675110
9.00
10.30
1.30
8.00
7.0
675111
10.30
11.20
0.90
1.75
5.7
675112
11.20
12.00
0.80
6.61
3.2
675113
12.00
13.85
1.85
0.95
2.6
675114
13.85
15.75
1.90
2.34
5.7
675115
15.75
16.90
1.15
1.03
18.4
675116
16.90
18.05
1.15
0.10
14.9
675117
18.05
20.80
2.75
0.19
1.6
675118
20.80
22.85
2.05
0.10
1.2
675119
22.85
23.50
0.65
2.34
3.7
675120
23.50
26.25
2.75
0.05
0.7
675121
26.25
27.45
1.20
0.15
1.9
675123
27.45
29.00
1.55
0.22
3.8
675124
29.00
30.45
1.45
0.23
2.2
675125
30.45
32.50
2.05
0.22
6.7
675126
32.50
33.40
0.90
0.08
10.0
675127
33.40
35.10
1.70
0.26
4.0
675128
35.10
36.30
1.20
15.35
4.3
Table 2. Summary of Results from JES-25-105 from surface to 36.3m downhole.
Hole ID
Easting
Northing
Elevation (m)
Depth (m)
Azimuth
Dip
JES-25-105
617423
3144555
407.70
125.50
0
-90
JES-25-106
617469
3144471
430.85
149.60
055
-80
Table 3. Summary of drill collar locations and orientations. Coordinates are in UTM NAD 27, Zone
12N
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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