Colibri Option Partner Begins Infill Drilling at Main Zone of Pilar Gold and Silver Project in Sonora
Colibri Option Partner Begins Infill Drilling at
Main Zone of Pilar Gold and Silver Project in
Sonora
Dieppe, New Brunswick--(Newsfile Corp. - April 3, 2024) - Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to report that its partner Tocvan Ventures (CSE: TOC) has
announced that infill drilling has commenced in the Main Zone at the advanced exploration stage Pilar
Gold and Silver Project in Sonora, Mexico. Colibri holds a 49% interest in the Pilar Gold & Silver Project.
Please see select excerpts from Tocvan's news release below:
Tocvan News Release:
(April 3, 2024) - Brodie A. Sutherland, P.Geo. reports:
Tocvan Ventures Corp. (the "
Company
"), is pleased to announce the much awaited restart of drilling at
its road accessible Pilar gold-silver project in the mine-friendly State of Sonora, Mexico. The Company
has been busy reviewing all past data with an independent resource professional to determine the most
effective use of drill meters for the upcoming campaign. Work completed has outlined 7,000 meters of
drilling required within the Pilar concessions held along with minority partner, Colibri Resources. This
includes, 4,000 meters of infill drilling within known areas of mineralization and 3,000 meters of step-out
and exploration drilling on the peripherals of drilled mineralization and/or strong surface geochemistry
indicating highly prospective targets. All proposed drilling is fully permitted. The outcome of the
proposed drilling will go into the definition of a maiden resource estimate for the Pilar Main Zone,
providing an important building block for the Company. The first drill hole will follow-up on JES-22-62,
which returned
108.6m of 0.8 g/t Au and 3 g/t Ag.
The drill rig mobilized to site April 1
st
and began
drilling hole JES-24-73 on April 2
nd
. The Company will update as drilling progresses.
"We are excited to report the drill is back onsite and turning at Pilar," commented Brodie
Sutherland, CEO. "It's been nearly two years since we last drilled at Pilar, with the previous drill
program identifying new areas of mineralization to the east and southeast of Pilar's Main Zone.
We now look to continue to expand the overall footprint while we build towards a maiden
resource at Pilar. With gold prices hitting all time highs, we feel this is the right time to
aggressively advance our projects."
About the Pilar Property
The Pilar Gold-Silver property has returned some of the region's 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. Initially three primary zones of mineralization were identified on the
original property from historic surface work and drilling and are referred to as the Main Zone, North Hill
and 4-T. Each trend remains open to the southeast and north and new parallel zones have been
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.
Pilar Drill Highlights:
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:
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
61.0m @ 0.8 g/t Au
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.
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 and exploring prospective gold & silver properties in Mexico. The Company holds six high
potential precious metal projects.
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: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274,
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/204132