Colibri Completes Drilling at Pilar, Receives Results of Soil Sample Program, and Receives Assay Results on Final 4 Holes on its Pitaya Property Joint Venture With Agnico Eagle
Colibri Completes Drilling at Pilar, Receives
Results of Soil Sample Program, and Receives
Assay Results on Final 4 Holes on its Pitaya
Property Joint Venture With Agnico Eagle
DIEPPE, NB
,
June 14, 2018
/CNW/ - (CBI: TSX-V) – Colibri Resource Corporation ("Colibri" or the
"Company"), wishes to announce that it has completed drilling of the final
900m
of its
3,000m
Phase
1 drilling program at its Pilar Gold Project in
Sonora, Mexico
. Samples from the final 7 drill holes and
2 drill hole extensions have been collected and delivered to ALS Chemex laboratories in
Hermosillo,
Mexico
for assay preparation and subsequently the Atomic Absorption and Fire Assay analysis will
be completed in
Vancouver, Canada
. Assay results will be released as they become available.
Colibri has also received the results of a soil sample survey across its eastern claims at the Pilar
Project. A total of 56 samples were collected on a grid using
100m
spacing. All 56 soil samples
assayed tested positively for gold and silver mineralization. Of the 10 samples that returned greater
than 0.1 g/t Au, 3 returned greater than 1 g/t Au in the soils. Samples were prepared in by ALS
Chemex in Hermosillio,
Mexico
and analysed in
Vancouver, Canada
using Atomic Absorption and
Fire Assay.
The Company, further to its news release dated
December 11, 2017
reports the drill results for the
final 4 holes of the campaign from its Joint Venture with Agnico Eagle on the Pitaya project in
Sonora, Mexico
. The joint venture partner added one extra hole to its proposed plan taking the
campaign from 26 to 27 holes drilled.
The Pitaya is adjacent to and on strike from
Fresnillo's
Tajitos
deposit (2km east). The
Tajitos
has
an announced resource of 415,000 ounces of gold (inferred, indicated, and measured). Agnico Eagle
is the operator of the Pitaya project JV and drilled a total of 7,641.8 metres in 27 drill holes in the
2016/2017 campaign.
Highlights from these final 4 holes are as follows:
PTY-17-024 – Piliegue North
No Significant Results
PTY-17-025 – Pliegue Zone
9 m of 0.26 g/t Au from 20 m
•
Including 1 metre of 1.43 g/t Au from 24 m
PTY-17-026 – Pliegue Zone
26 m of 0.19 g/t Au from 129 m
•
Including 3 m of 0.68 g/t Au from 129 m
•
Including 1 m of 1.43 g/t Au from 130 m
PTY-17-027 – Pliegue North
34 m of 0.22 g/t Au from 98 m
•
Including 7 m of 0.37 g/t Au from 98 m
•
Including 7 m of 0.52 g/t Au from 125 m
Much of the drilling focus on the 6,564 hectare project in 2016/2017 was on the eastern side of the
property and on strike with Fresnillio's nearby
Tajitos
project. Results thus far warrants further
exploration.
Final accounting from the 2016/2017 drilling campaign has been presented to Colibri from its Joint
Venture partner and the Company has agreed to dilute its ownership in the partnership
proportionately in lieu of paying its portion of the monies expended. Colibri now owns 24.45% of the
Joint Venture and its partner Agnico Eagle owns 75.55%.
No further exploration drilling is expected to take place in calendar 2018 on the project as this new
data is modeled and studied.
A detailed presentation about the project and this last drilling campaign will be available at:
www.colibriresource.com/projects/colibri
Qualified person and National Instrument 43-101 disclosure
Jackie E. Stephens
, PGeo, the qualified person for Colibri on the Pitaya exploration, as defined in NI
43-101, has reviewed and approved the technical information in this press release.
About Colibri Resource Corporation:
Colibri is a Canadian mineral exploration company listed on the TSX-V (CBI) focused on acquiring
and exploring properties in
Mexico
.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news
release.
Neither 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 release.
The statements made in this news release may contain forward-
looking statements that may involve a number of risks and uncertainties. Actual events or results
could differ materially from the Company's expectations and projections.
SOURCE
Colibri Resource Corporation
View original content: http://www.newswire.ca/en/releases/archive/June2018/14/c2850.html
%SEDAR: 00021936E
For further information:
Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-
4274, [email protected]
CO: Colibri Resource Corporation
CNW 09:36e 14-JUN-18