Colibri Option Partner Announces Bulk Sample Material Averaging Grades of 1.9 g/t Gold and 13 g/t Silver at Pilar Project
Colibri Option Partner Announces Bulk
Sample Material Averaging Grades of 1.9 g/t
Gold and 13 g/t Silver at Pilar Project
Dieppe, New Brunswick--(Newsfile Corp. - May 17, 2023) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to report that its option partner Tocvan Ventures (CSE: TOC)
has announced higher than expected average head grades from its bulk sample testing at the Pilar Gold
and Silver Project at the Pilar Project in Sonora, Mexico.
Tocvan is in year 4 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 24
th
, 2019
.
Tocvan News Release:
(May 16
th
, 2023) - Brodie A. Sutherland, P.Geo. reports:
Leaching Process Underway for Bulk Sample
Highlights
Consistent Gold Values Reported from Bulk Sample Improve Grade
148 samples range between 0.8 and 3.4 g/t Au, weighted mean of 1.85 g/t Au
Silver values range between 5 and 26 g/t Ag, weighted mean of 12.7 g/t Ag
Fine Fraction Samples (excluded from Heap Leach Process), Report Equal Gold and Silver
Values
32 Samples range between 1.2 and 2.8 g/t Au, weighted mean of 2.02 g/t Au
Silver values range between 9 and 25 g/t Au, weighted mean of 15.6 g/t Ag
Leaching Process Underway for Bulk Sample
Tocvan Ventures Corp. (the "
Company
"), is pleased to provide an update and sampling results from a
Bulk Sample being completed at its Pilar gold-silver project in Sonora, Mexico. Sampling of duplicate
material collected at regular intervals during crushing/screening process from the Bulk Sample have
returned consistent gold and silver values. In total,
148 samples
were collected
averaging 1.87 g/t Au
and 13 g/t Ag
(see
Table 1
for full results). The first batch of
32 samples
(111 samples pending) were
collected from the fine fraction of screened material not included in the heap leach pile, are showing
slightly higher grades of gold and silver,
averaging 2.02 g/t Au and 15.6 g/t Ag
(see
Table 2
for full
results). The fine fraction along with additional bulk sample material will be used in testing gravity
recovery methods. Samples were submitted to ALS Hermosillo for fire assay and ICP analysis. Blanks
and standards were submitted into the sample stream as part of the Company's robust QA/QC protocol
The samples total 910.7 kg of crush reject material from the Bulk Sample collected for heap leach
testing. The heap leach process is currently underway for the Bulk Sample. Over 800 tonnes of Bulk
Sample material have been prepared for heap leach processing, an additional 350 tonnes of crushed
material and 250 tonnes of raw-bulk sample are available for gravity recovery and later agitated leach
testing as recommended by an independent report provided by LTM.
"Pilar continues to surprise with excellent gold and silver values,"
stated Brodie Sutherland,
CEO.
"The results are clearly indicating the average grade of material making up the Bulk
Sample are well above our expectations for gold and silver. To see this represented in the data
gives us added confidence that Pilar can be advanced towards production, especially with these
impressive grades. We eagerly await the results from heap leaching and further evaluation of
gravity recovery methods."
Photo 1:
Bulk Sample heap leach pile during irrigation setup.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/166426_39f8175a849e5980_001full.jpg
Table 1
. Summary of results from Bulk Sample Duplicate Sampling.
Sample ID
Weight
(kg)
Au
(g/t)
Ag
(g/t)
Sample ID
Weight
(kg)
Au
(g/t)
Ag
(g/t)
Sample ID
Weight
(kg)
Au
(g/t)
Ag
(g/t)
407154
2.89
0.81
11.2
332701
6.43
1.90
15.7
332748
6.28
1.86
11.9
407155
2.22
1.39
8.7
332702
6.58
2.05
18.8
332750
5.77
1.48
9.9
407156
3.11
1.60
6.8
332703
5.79
1.68
24.9
332751
5.62
2.16
12.6
407157
5.97
2.12
17.6
332704
5.86
1.60
15.8
332752
6.59
1.84
9.9
407158
5.38
1.36
9.0
332705
6.85
1.37
9.6
332753
6.59
1.95
10.3
407159
6.70
1.59
9.6
332706
5.79
1.50
10.2
332754
6.27
0.97
10.3
407160
5.25
2.22
15.7
332707
6.02
2.28
4.7
332755
6.38
1.54
12.5
407161
6.05
1.17
7.0
332708
5.67
1.70
11.4
332756
6.13
2.12
10.2
407162
6.09
1.08
6.3
332709
5.77
1.19
14.6
332757
6.00
1.28
13.5
407164
4.86
1.04
6.5
332710
5.62
1.95
8.1
332758
6.03
1.41
8.8
407165
5.84
2.17
25.8
332712
6.01
2.11
17.7
332760
6.75
1.98
13.0
407166
5.82
1.97
17.1
332713
6.09
2.63
11.1
332761
5.45
1.29
10.1
407167
5.37
1.26
9.7
332714
5.35
1.97
11.2
332762
5.62
1.55
12.8
407168
5.47
1.44
17.5
332715
5.25
2.13
8.8
332763
6.83
1.78
13.0
407169
5.21
1.55
8.3
332716
7.54
2.66
6.2
332764
5.81
1.50
11.0
407170
6.14
2.06
11.4
332717
6.59
3.39
8.7
332766
6.36
3.00
10.6
407171
5.27
1.73
16.8
332718
7.37
1.49
8.7
332767
5.87
1.54
13.8
407172
6.18
2.18
19.3
332719
6.05
1.52
10.8
332768
6.29
1.66
9.5
407173
6.56
1.57
23.1
332720
6.15
1.49
10.8
332769
6.08
1.32
15.6
407174
6.12
2.87
13.8
332721
6.45
1.50
10.3
332770
6.30
1.36
11.6
407175
6.59
2.43
17.8
332723
6.08
2.21
9.6
332771
5.99
3.02
13.5
407177
6.65
1.60
18.9
332724
6.28
2.77
8.1
332772
6.68
1.48
11.2
407178
6.07
1.06
14.8
332725
6.65
1.96
10.2
332773
6.45
1.59
13.2
407179
5.87
1.49
14.9
332726
6.03
1.63
11.9
332774
5.84
1.55
15.6
407181
6.62
1.95
12.4
332727
7.07
1.17
7.1
332776
5.48
1.33
11.0
407182
6.68
1.47
16.2
332728
6.01
1.07
6.7
332777
5.95
2.56
16.9
407183
5.11
1.22
10.2
332729
6.23
1.54
13.6
332778
6.39
1.63
16.3
407184
5.61
1.40
6.3
332730
6.86
1.89
11.2
332779
6.35
1.49
15.1
407185
6.52
2.80
9.5
332731
6.46
2.18
10.0
332780
6.68
1.69
15.1
407186
6.29
2.29
11.4
332732
7.29
2.13
14.4
332781
5.63
2.25
16.8
407187
6.68
2.10
11.5
332733
6.04
3.14
11.0
332782
6.39
1.72
19.1
407188
5.80
3.37
9.1
332734
6.21
1.33
13.8
332783
5.97
1.67
14.9
407189
6.67
2.58
18.9
332735
6.44
1.30
15.9
332784
6.18
1.75
13.1
407190
5.85
1.94
18.3
332737
6.19
1.53
11.8
332785
5.94
1.62
16.9
407191
5.76
2.12
13.8
332739
5.73
1.49
18.7
332787
5.77
2.33
9.7
407192
6.40
1.83
13.5
332740
6.90
1.75
15.5
332788
6.23
1.88
10.8
407193
6.63
2.76
10.5
332741
6.72
1.24
13.6
332789
6.95
2.24
13.5
407195
6.13
2.75
7.8
332742
6.00
1.76
10.4
332790
4.35
1.74
15.1
407196
6.98
2.31
9.5
332743
5.53
1.28
10.7
332791
5.37
1.96
16.2
407197
6.14
2.44
12.1
332744
6.31
1.64
15.2
332792
6.07
2.38
15.1
407198
6.01
1.76
10.8
332745
7.22
1.53
15.0
332793
6.77
1.68
9.0
407199
7.08
1.87
14.2
332746
6.90
1.35
8.8
332794
6.64
1.82
13.6
407200
5.78
1.61
6.1
332747
5.08
1.58
10.6
332795
7.26
2.84
10.7
Table 1
. Summary of results from Bulk Sample Duplicate Sampling (continued).
Sample ID
Weight (kg)
Au (g/t)
Ag (g/t)
332805
6.20
1.48
12.9
332807
6.06
2.75
13.4
332808
7.81
2.01
15.9
332809
6.26
1.53
20.1
332810
7.18
2.81
18.3
332811
6.59
1.74
14.2
332812
6.34
2.06
14.7
332813
5.90
2.43
9.7
332814
5.26
1.67
15.1
332815
6.75
1.67
12.1
332816
7.21
1.93
13.3
Table 2. Summary of results from Fine Fraction Material (not included in the bulk sample heap leach
pile).
Sample ID
Weight (kg)
Au (g/t)
Ag (g/t)
332818
5.25
1.83
18.1
332819
6.11
2.02
9.5
332820
6.11
1.95
11.4
332821
4.14
2.66
17.1
332822
4.42
1.15
9.3
332823
5.82
1.85
8.6
332824
4.93
2.21
11.0
332825
4.62
1.98
11.5
332826
6.23
1.44
12.3
332827
4.18
1.38
11.0
332828
6.29
1.76
20.3
332829
4.80
1.79
18.9
332830
5.36
2.56
12.1
332832
5.01
2.62
24.5
332833
3.48
2.17
10.6
332834
6.19
2.84
14.0
332835
4.20
2.19
14.0
332836
4.93
2.83
22.2
332837
5.18
2.62
22.8
332838
5.85
2.16
19.3
332839
7.00
2.63
19.7
332841
7.30
1.80
24.9
332842
5.69
1.92
23.3
332843
6.61
1.58
21.2
332844
6.67
1.34
16.9
332845
5.97
2.10
16.7
332846
6.58
1.37
14.5
332847
6.36
1.69
8.6
332848
6.88
2.08
10.5
332849
6.52
2.53
12.0
332850
5.23
1.86
11.5
332851
5.77
2.12
10.3
Diagnostic Leach Study Summary
Full results from the Diagnostic Leach Study are available on the Company's website and in the March
29
th
news release. A summary is provided below.
Table 3
. Summary of Results from the Precious Metals Diagnostic Leach Study completed by LTM.
Sample ID
Location
Head Screen Assay
Gravity Concentrate Assay
Total Recoverable by Gravity and
Agitated Cyanide Leach
Au (g/t)
Ag (g/t)
Au (g/t)
Ag (g/t)
Au (%)
Ag (%)
494741
Main Zone
(Surface)
6.2
23
76.2
237
95
78
494743
Main Zone
(Surface)
8.2
68
117.0
1152
98
97
494745
Main Zone
(Surface)
2.7
9
35.6
82
97
90
494747
4-T (Surface)
20.4
74
290.3
568
98
85
494749
Main Zone (Drill
Core)
24.9
9
231.1
53
99
73
About the Pilar Property
The Pilar Gold-Silver property has recently returned some of the regions best drill results. Coupled with
encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a
potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal
system hosted in andesite rocks. Three primary 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. The Main Zone and 4-T trends are open to the southeast and new parallel zones have
been recently discovered. Structural features and zones of mineralization within the structures follow an
overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend
has been drill tested so far. To date, over 23,000 m of drilling has been completed.
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:
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
61.0m @ 0.8 g/t Au
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 holds six highly
prospective precious metal projects of which five have planned exploration programs for calendar 2023.
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,
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/166426