Colibri Option Partner Announces Additional Phase III Drilling Results at Pilar Gold & Silver Project in Sonora
Colibri Option Partner Announces Additional
Phase III Drilling Results at Pilar Gold & Silver
Project in Sonora
Dieppe, New Brunswick--(Newsfile Corp. - August 30, 2022) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") is pleased to report that today its option partner Tocvan Ventures
(CSE: TOC) has announced further drilling results from the Company's Pilar Gold & Silver Project in
Sonora, Mexico.
Tocvan is in year 3 of a 5-year agreement to earn an initial 51% of Colibri's Pilar Gold & Silver Project.
For full details of Colibri's agreement with Tocvan please see the Company's news release dated
September 24th, 2019
.
Tocvan Reports:
(August 30
th
, 2022)
Seven drill holes were completed, totalling 1,382-meters. Results for the final four drill holes are
highlighted in this release. All four drill holes were drilled in new areas and intersected alteration and
structures known to host gold-silver mineralization at Pilar. Hole JES-22-72, 125-meters southeast of drill
hole JES-22-63 (13.7m of 0.6 g/t Au and 13 g/t Ag and 9.2m of 0.6 g/t Au) returned
22.9-meters of 0.3
g/t Au and 19 g/t Ag, including 7.6-meters of 0.8 g/t Au and 51 g/t Ag
(Figure 1) Three drill holes
intersected low-grade gold and silver values indicating close proximity to significant mineralization. Hole
JES-22-70 returned 12.2-meters of 0.3 g/t Au, including
3.1-meters of 0.8 g/t Au
and
3.1-meters of 0.5
g/t Au
. Hole JES-22-69 intersected
1.5-meters of 0.7 g/t Au
at the end of hole, leaving it open at depth
for targeting. The Company is extremely encouraged by these reconaissaince results and planning is
underway for the next stage of drilling at Pilar.
Figure 1. Plan Map highlighting the results from the latest stage of drilling at Pilar.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/135363_9c03c0c8a490082e_001full.jpg
Drill Highlights
JES-22-72
22.9m of 0.3 g/t Au and 19 g/t Ag (0.5 g/t AuEq*), from 27.5m
Incl., 10.7m of
0.6 g/t Au and 40 g/t Ag
(1.0 g/t AuEq)
Incl., 7.6m of
0.8 g/t Au and 51 g/t Ag
(1.3 g/t AuEq)
Incl., 3.1m of 1
.6 g/t Au and 109 g/t Ag
(2.8 g/t AuEq)
*Note: AuEq calculated based on metal price assumptions of $1,700/oz gold and $18.00/oz silver
JES-22-70
12.2m of 0.3 g/t Au, from surface
Incl., 3.1m of 0.8 g/t Au and 5 g/t Ag
And 3.1m of 0.5 g/t Au
JES-22-69
1.5m of 0.7 g/t Au at end of hole, open at depth
"With each progressive stage of reconnaissance drilling along previously untested trends we are
uncovering excellent indications that mineralization continues to the southeast and in parallel trends
to our Main Zone,"
commented CEO, Brodie Sutherland
. "All seven drill holes intersected alteration,
quartz-veining and fault structures know to host significant mineralization at Pilar. All three trends
tested during this stage of drilling have shown indications of continued mineralization and warrant
follow-up drilling as we believe a much larger system is yet to be defined at Pilar."
Discussion of Results
As part of the ongoing Phase III drill program, a total of seven reverse circulation ("RC") drill holes have
been completed, totalling 1,382-meters. Drilling focused on the 4-T Expansion and Extension targets
and a new trend discovered during the last stage of drilling (Figure 1 and Table 1).
JES-22-69
This drill hole was targeting the 4-T Extension, where surface sampling of artisanal workings returned
6.6
g/t Au and 433 g/t Ag
. Four quartz-sericite veins with pyrite were intersected at 10.7 to 30.5-meters,
82.4 to 86.9-meters, 157.1 to 158.6-meters and 173.9 to 176.9-meters. Low-grade gold mineralization
was intersected from surface to 16.8-meters depth. A
1.5-meter interval of 0.7 g/t Au
was recorded at
the end of the hole with coincident elevated arsenic values (>1500 ppm) which suggest mineralization is
open at depth. Follow-up targeting up and down-dip of this drill hole is warranted to test continuation of
mineralization.
JES-22-70
This drill hole was targeting the 4-T Trend, 80-meters southeast of where a recent surface trench (T-21-2)
returned
19.5-meters of 0.6 g/t Au
. Three quartz-sericite veins with pyrite were intersected at 58.0 to
63.0-meters, 132.7 to 143.8-meters, and 163.2 to 164.7-meters. From surface, JES-22-70 returned
12.2-meters of 0.3 g/t Au including, 3.1-meters of 0.8 g/t Au and 3.1-meters of 0.5 g/t Au
. Low-
grade gold and zinc were recorded further down hole from 77.8-meters (3.1-meters of 0.4 g/t Au and
1.82% Zn). The 4-T Trend remains larger untested down-dip at depth, the indications of mineralization
and structure recorded warrant further follow-up of the trend for broad, higher-grade intervals.
JES-22-71
This drill hole was targeting the Discovery Trend, 115-meters southeast of JES-22-72 (see below).
Quartz-sericite veins with pyrite were intersected from surface to 36.0-meters, 90.0 to 95.0-meters,
108.7 to 112.9-meters and 154.0 to 158.6-meters. Low-grade silver and zinc were recoded from surface
to 6.1-meters (6 g/t Ag and 0.1% Zn).
Although no significant mineralization was recorded the structure
and alteration intersected indicate potential for significant mineralization continues along this trend.
JES-22-72
This drill hole was targeting the newly identified Discovery Trend, 125-meters southeast of drill hole JES-
22-63 which returned,
54.9-meters of 0.3 g/t Au and 5 g/t Ag
including,
13.7-meters of 0.6 g/t Au and
13 g/t Ag
and
9.2-meters of 0.6 g/t Au
). Drill hole JES-22-72 returned
22.9-meters of 0.3 g/t Au and
19 g/t Ag or 0.5 g/t AuEq
including,
7.6-meters of 0.8 g/t Au and 51 g/t Ag or 1.3 g/t AuEq
. Zinc
values are elevated across the upper half of the drill hole with high concentrations (
1.97% Zn over 7.6-
meters
) associated with high Au-Ag values.
Quartz-sericite veins with pyrite were intersected at 9.2 to
15.0-meters, 91.5 to 100.7-meters and 120.5 to 129.7-meters. The highest-grade mineralization is
hosted with in a silicified andesite with quartz veinlets and moderate iron-oxide alteration. Both JES-22-
63 and JES-22-72 remain untested down-dip, mineralization and structure seen in JES-22-71 indicates
the system has room to expand further to the southeast. The discovery trend remains open to the
northwest.
Table 1. Summary of Results from latest Stage of Drilling at Pilar.
Hole ID
From (m)
To (m)
Width (m)*
Au (g/t)
Ag (g/t)
JES-22-66
30.50
47.28
16.78
0.11
17.6
including
30.50
36.60
6.10
0.25
47.4
including
35.08
36.60
1.53
0.55
185.0
JES-22-67
0.00
138.78
138.78
0.10
0.3
including
0.00
30.50
30.50
0.41
0.3
including
0.00
1.53
1.53
7.61
0.8
JES-22-68
No Significant Values
JES-22-69
0.00
16.78
16.78
0.15
1.1
including
0.00
7.63
7.63
0.19
1.0
and
82.35
86.93
4.58
0.12
6.8
and
128.10
134.20
6.10
0.13
5.8
including
128.10
129.63
1.53
0.33
17.2
and
187.58
189.10
1.53
0.70
2.2
JES-22-70
0.00
18.30
18.30
0.24
1.4
including
0.00
12.20
12.20
0.34
1.8
including
0.00
3.05
3.05
0.78
4.5
and
9.15
12.20
3.05
0.49
1.8
and
77.78
85.40
7.63
0.18
0.9
including
77.78
80.83
3.05
0.39
1.9
and
109.80
111.33
1.53
0.29
0.3
JES-22-71
0.00
6.10
6.10
0.07
6.2
JES-22-72
0.00
50.33
50.33
0.14
9.6
including
0.00
38.13
38.13
0.17
12.3
or
25.93
50.33
24.40
0.27
18.1
including
27.45
38.13
10.68
0.59
40.4
including
30.50
38.13
7.63
0.78
51.0
including
35.08
38.13
3.05
1.64
109.0
including
36.60
38.13
1.53
2.39
165.0
and
106.75
128.10
21.35
0.13
0.9
including
106.75
109.80
3.05
0.49
0.3
and
152.50
154.03
1.53
0.38
16.5
Table 2. Collar Data for Latest stage of Drilling at Pilar.
Hole_ID
Easting
Northing
Elevation (m)
Depth
Azimuth
Dip
JES-22-66
617873
3144802
409
180.0
230
-50
JES-22-67
617976
3144759
420
213.5
230
-55
JES-22-68
618104
3144528
460
213.5
225
-55
JES-22-69
618044
3144610
448
189.1
225
-55
JES-22-70
617833
3144623
437
201.3
230
-55
JES-22-71
617840
3144377
445
207.4
230
-55
JES-22-72
617783
3144472
447
176.9
230
-50
About the Pilar Property
The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal
system hosted in andesite rocks. Three zones of mineralization have been identified in the north-west
part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill
and 4-T. Structural features and zones of mineralization within the structures follow an overall NW-SE
trend of mineralization. Over 22,000 m of drilling has been completed to date. Significant results are
highlighted below:
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
15,000 of Historic Core & RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
16.5m @ 53.5 g/t Au and 53 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
Quality Assurance / Quality Control
RC chips and core 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, P.Geo., 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 and exploring prospective gold & silver properties in Mexico. The Company has six exploration
projects of which five currently have exploration programs being executed in 2022. (1) The flagship
Evelyn Gold Project
is 100% owned and explored by Colibri, (2) the
Pilar Gold & Silver Project
(optioned to
Tocvan Ventures
- (CSE: TOC), (3) the
El Mezquite Gold & Silver Project
, (4) the
Jackie
Gold & Silver Project, and (5) the Diamante Gold & Silver Project.
3,4, and 5 are subject to earn-in
agreements by
Silver Spruce Resources)
- (TSXV: SSE).
For more information about all Company projects please visit:
www.colibriresource.com
.
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.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not
purely historical are forward-looking statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. These forward-looking statements are made as of
the date of this news release, and the Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those projected in the forward-
looking statements. Although the Company believes that the plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that they will prove to be
accurate.
For information contact: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274,
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