Colibri & Partner Drill 83.5 metres at 1.3 grams per tonne Gold (including 10.3 grams per tonne Gold over 9.7 metres) at El Pilar Gold & Silver Project in Sonora Mexico
Colibri & Partner Drill 83.5 metres at 1.3 grams
per tonne Gold (including 10.3 grams per
tonne Gold over 9.7 metres) at El Pilar Gold &
Silver Project in Sonora Mexico
Dieppe, New Brunswick--(Newsfile Corp. - March 11, 2025) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to share the assay results from the first 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 pleased with the results from these first two drill holes. The near surface nature of
this additional higher-grade mineralization only strengthens our belief that the El Pilar could
become a profitable near-term gold and silver production asset for Colibri. The work programs
planned for Pilar this year, which includes an up to 50,000 tonne bulk sample/test mine and a
maiden resource estimate, should further demonstrate this theory. We look forward to releasing
the results from the additional 8 holes of this program in due course as data is received from the
operator."
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/4269/244087_6a252dcde4829ad0_001full.jpg
Photo 1: High-grade core from hole JES-25-104 (1.6m of 60.6 g/t Au + 13 g/t Ag - from 87.8m). Local
faulting and associated intense hematite and silica alteration have replaced the original andesite.
This style of mineralization has been recorded across the Main Zone at surface and in drill core.
To view an enhanced version of this graphic, please visit:
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Tocvan - News Release - March 11
th
, 2025
Highlights:
Highest Gold Grade Result Since Prospect Discovery in 1996
10.3 g/t Au Over 9.7m, including 1.6m of 60.6 g/t Au (Hole JES-25-104)
Only surpassed by Historic Drill Hole S-10, 16.5 meters of 53 g/t Au (1996
Discovery) *
Anomalous Mineralization from
14.1 to 97.6 meters averaging 1.3 g/t Au
Next to Trench Opened in 2023 for Bulk Sample Material
Surface Channels Averaged, 1.9 g/t Au and 9 g/t Ag over 14m (TR-2023-03)
Northwestern Hole JES-25-103, returns 3.7 meters of 0.4 g/t Au, 39 g/t Ag and 2.6% Cu
Anomalous Mineralization from 19.7 to 54.4 meters averaging 0.1 g/t Au, 8 g/t Ag and
0.54% Cu
Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (WKN: TV3/A2PE64)
(the "
Company
"), is
pleased to announce results from the first two core holes recently drilled 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. Results are highlighted by
10.3 g/t Au over 9.7m, including 60.6 g/t Au over 1.6 meters
starting at 87.8 meters vertical depth
(JES-25-104). The high-grade mineralization
correlates with
at surface mineralization
and lies within a broader anomalous zone drilled that
averages 1.3 g/t Au
over 83.5 meters from 14.1 meters below surface
. In 2023, a trench exposed material adjacent to the
drill hole that
averaged 1.9 g/t Au and 9 g/t Ag over 14m
. Material from the trench was used in the
2023 Bulk Sample completed by Tocvan. JES-25-104 is also on the same section as RC hole, JES-20-
36 (
24.4m of 2.5 g/t Au and 73 g/t Ag, including 1.5 m of 33.4 g/t Au and 1,090 g/t Ag
) and later
core hole JES-22-58 (
21.7m of 0.9 g/t Au, including 4.0m of 4.2 g/t Au
). The highest-grade
mineralization intersected is related to a fault structure known to host high grade gold and silver. The
result is the
highest gold value recorded since initial discovery drilling was completed in 1996
by
Lundin controlled company, Santa Catalina Mining Corp., where
historic hole S-10 returned 53 g/t Au
over 16.5 meters
(*as reported July 30, 1996 by Santa Catalina Ming Corp.). Further to the northwest,
145 meters, core hole JES-25-103, returned anomalous gold, silver and copper averaging
0.1 g/t Au, 8
g/t Ag and 0.54% Cu over 34.7 meters
starting from 19.7 meters downhole. A higher grade zone
averages
3.7 meters of 0.4 g/t Au, 39 g/t Ag and 2.6% Cu
. Elevated copper values are consistent with
results recorded in the North Hill area and seen in trench exposures that may be related to granitoid
intrusive rocks first recorded in recent RC drilling further north.
"These near-surface high-grade results showcase the rapid development potential of Pilar."
commented, CEO Brodie Sutherland. "Core drilling has again yielded some of the best results
ever from the property. Results are in line with our initial observations of key styles of
significant mineralization. The very high-grade interval in JES-25-104 coincides with a fault and
adjacent intense, texture destructive hematite and silica alteration. Understanding these high-
grade structures is essential for upgrading resource potential and identifying areas of focus for
initial mining. Further to the north, hole JES-25-103 has yielded some of the best results to date
on the northwestern edge of the Main Zone where surface mapping has outlined key controlling
structures with elevated copper and silver. We look forward to sharing the remaining drill results
as they become available."
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Cu (%)
JES-25-103
19.70
29.30
9.60
0.15
11.64
0.90
and
50.70
54.40
3.70
0.40
38.80
2.56
within
19.70
54.40
34.70
0.09
7.73
0.54
JES-25-104
87.83
97.55
9.72
10.31
4.85
NSV
Including
87.83
89.45
1.62
60.6
13.30
NSV
and
23.25
54.00
30.75
0.14
1.21
NSV
within
14.10
97.55
83.45
1.27
1.24
NSV
Table 1: Summary of Drill Results in this release
Hole ID
Easting
Northing
Elevation (m)
Depth (m)
Azimuth
Dip
JES-25-103
617328
3144754
388.55
80.50
055
-70
JES-25-104
617414
3144638
399.75
103.60
-
-90
Table 2. 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.
To view the source version of this press release, please visit
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