Colibri Update: 1,122 Metres Completed in 10 Holes At The Pilar Gold & Silver Project In Sonora Mexico
Colibri Update: 1,122 Metres Completed in 10
Holes At The Pilar Gold & Silver Project In
Sonora Mexico
Dieppe, New Brunswick--(Newsfile Corp. - February 12, 2025) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") is pleased to share that a total of 1,122 meters has been drilled in 10
diamond drill holes at its El Pilar Gold & Silver Project in Sonora Mexico. Colibri holds 49% interest of
the El Pilar along side its partner Tocvan Ventures, which holds a 51% ownership in this advanced stage
exploration project.
Highlights:
1,122 metres drilled in 10 diamond holes a Pilar Gold & Silver Project
Samples for first three drill holes have been sent to laboratory for analysis
Initial review of drill core indicates key structures and favourable rock
characterization have been encountered
Advancing plans for up to 50,000 tonne bulk sample/pilot facility
The core program was designed and managed by Tocvan with the aim to infill and step out on known
mineralization corridors. The information collected will assist in building a robust geological model set to
go into a maiden resource estimate and ultimately a Preliminary Economic Assessment for Pilar's Main
Zone. Samples for the first three drillholes (JES-25-103 to JES-25-105) have been delivered to the local
ALS Prep Laboratory in Hermosillo, Sonora.
In a news release dated February 12, 2025, Brodie Sutherland, the President & CEO of Tocvan
Ventures reported the following:
"…
The majority of past drilling has been RC, core drilling provides us with key information on
the complex structural nature hosting mineralization that will drive future resource expansion. It
is clear the host rock has undergone substantial multi-phase preparation making it an excellent
target. We look forward to the results."
Tocvan has also reported that core reviewed from this drill program displays indications of key
lithologies and structures known to host and control gold & silver mineralization at Pilar. A summary of
these mineralization types is summarized below in Plate 1.
The Company cautions these are visual
indications; assay results are pending to verify the grade of mineralization and width
.
Plate 1. Different alteration and lithology styles related to mineralization at Pilar as seen in the recent
core program. A. Intense hematite flooding of andesite host rock with later silicification, JES-25-104, 88
m depth. B. Silicified breccia with intense silicification, moderate epidote-chlorite alteration and late
hematite vein stockwork, JES-25-104, 90m depth. C. Wide intensely oxidized fault zone with white
quartz veining, JES-25-103, 23m depth. D. Malachite with hematite in highly fractured and oxidized host
rock, JES-25-103, 27m depth. E. Silicified breccia with intense chlorite and pyrite and minor
chalcopyrite, JES-25-107, 55m depth. F. Intense fractured silicified breccia with intense hematite and
late calcite veins, JES-25-105, 85m depth.
The Company cautions these are visual indications; assay
results are pending to verify the grade of mineralization and width.
To view an enhanced version of this graphic, please visit:
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Photo 1. Core drill rig setting up on the south end of the Main Zone Trend targeting the depth
projection of the red oxidized material exposed along a road cut left of center on the image.
To view an enhanced version of this graphic, please visit:
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Pilar Pilot Mine Facility / Large Tonnage Bulk Sample
Based on management's strong belief in the project's potential to be a near term mine, the JV
companies are presently outlining a permitting and operations strategy to build a pilot facility at Pilar.
The facility will support a robust test mine scenario with an aim to process up to 50,000 tonnes of
material. Timelines and budgets are being prepared with the goal of moving forward on its development
in very near term to potentially take advantage of the historically high gold prices.
In 2023, Tocvan completed a smaller offsite bulk sample at Pilar which showcased the potential to
recover both gold and silver through a variety of methods including heap leach, gravity and agitated
leach. Datasets recovered from 2023 program will serve as a guide for this upcoming one.
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 Ag;
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
3 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 (TSXV: 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) 49% Ownership of the Pilar Gold & Silver Project which is
believed to hold the potential to be a near term producing mine, 2) 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, 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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