Colibri Reports: Six Holes Completed at the Pilar Gold & Silver Project in Sonora Mexico
Colibri Reports: Six Holes Completed at the
Pilar Gold & Silver Project in Sonora Mexico
Dieppe, New Brunswick--(Newsfile Corp. - January 28, 2025) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") is pleased to share an update with its shareholders and interested
parties in regard to its up to 1,250 metre diamond drilling program presently underway at its jointly held
El Pilar Gold & Silver Project in Sonora Mexico. Colibri holds 49% interest of the El Pilar along side its
partner Tocvan Ventures, which holds 51% ownership.
Drilling Update
Six holes have now been completed totalling 672.2 metres and a seventh hole is presently underway.
Cores from the first several holes have been logged and are presently being prepared to be shipped for
geochemical analysis. The Company will report results in due course upon review of the data.
On January 22
nd
, 2025, Tocvan Ventures reported the following in regard to the first four diamond drill
holes completed in our 2025 program at Pilar:
"
The aim of the core program is to build out a more
robust geological model across the area. Each hole completed has successfully intersected
lithologies and structures (vein zones, breccia zones and/or large fault gouges) known to host
and control gold - silver mineralization at Pilar that will aid in modelling. The Company cautions
these are visual indications; assay results are pending to verify the grade of mineralization
."
Ian McGavney, President & CEO of Colibri states, "
The Company is excited to move forward with its
partner Tocvan Ventures to unlock Pilar's significant potential. The new data derived from this
diamond core drilling program will be added to the project's geological model as well as to an
upcoming Maiden Resource Estimate. We look forward to updating our shareholders on these drill
results and our other progress at Pilar as we move towards our goal of being a near term gold & silver
producer
."
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. The project is interpreted as a structurally controlled low-sulphidation
epithermal system hosted in andesite rock. 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
northwest-southeast trend of mineralization. Mineralization extends along a 1.2-kilometre trend. Only half
of that trend has been drill tested so far.
Pilar drill highlights
:
2022 phase 3 diamond drilling highlights include (all lengths are drilled thicknesses):
116.9 metres of 1.2 grams per tonne gold, including 10.2 m of 12 g/t Au and 23 g/t silver;
108.9 m of 0.8 g/t Au, including 9.4 m of 7.6 g/t Au and 5 g/t Ag;
63.4 m of 0.6 g/t Au and 11 g/t Ag, including 29.9 m of 0.9 g/t Au and 18 g/t Ag;
2021 phase 2 RC drilling highlights include (all lengths are drilled thicknesses):
39.7 m of 1.0 g/t Au, including 1.5 m of 14.6 g/t Au;
47.7 m of 0.7 g/t Au, including three m of 5.6 g/t Au and 22 g/t Ag;
29 m of 0.7 g/t Au;
35.1 m of 0.7 g/t Au;
2020 phase 1 RC drilling highlights include (all lengths are drilled thicknesses):
94.6 m of 1.6 g/t Au, including 9.2 m of 10.8 g/t Au and 38 g/t Ag;
41.2 m of 1.1 g/t Au, including 3.1 m of 6.0 g/t Au and 12 g/t Ag;
24.4 m 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;
15,000 m of historic core and RC drilling; highlights include:
61.0 m of 0.8 g/t Au;
21.0 m of 38.3 g/t Au and 38 g/t Ag;
13.0 m of 9.6 g/t Au;
9.0 m of 10.2 g/t Au and 46 g/t Ag.
Pilar bulk sample summary
:
62-per-cent recovery of gold achieved over 46-day leaching period;
Head grade calculated at 1.9 g/t Au and seven g/t Ag; extracted grade calculated at 1.2 g/t Au and
three g/t Ag;
Bulk sample only included coarse fraction of material;
Fine fraction indicates rapid recovery with agitated leach:
Agitated bottle roll test returned rapid and high recovery results: 80-per-cent recovery of gold
and 94-per-cent 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-per-cent recovery of gold;
73- to 97-per-cent recovery of silver;
Includes the recovery of 99 per cent Au and 73 per cent Ag from drill core composite at 120-
metre depth.
Technical information expressed in this news release is the view of Brodie A. Sutherland, chief executive
officer for Tocvan, a qualified person 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) 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, 2) 49% Ownership of the Pilar Gold & Silver Project which
is believed to hold the potential to be a near term producing mine, 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.
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https://www.newsfilecorp.com/release/238687