Colibri's Option Partner to Commence Exploration Activities at Pilar Gold & Silver Project in Sonora, Mexico
Colibri's Option Partner to Commence
Exploration Activities at Pilar Gold & Silver
Project in Sonora, Mexico
Dieppe, New Brunswick--(Newsfile Corp. - November 10, 2021) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") is pleased to announce that its partner Tocvan Ventures Corp.
("Tocvan") has reported the re-commencement of field operations at the Pilar Au-Ag Project in Sonora,
Mexico. Tocvan is in the third year of a five-year option agreement with Colibri to earn an initial 51%
ownership of the Pilar Gold-Silver Project. For full details of the agreement see Colibri's news release
dated
September 24th, 2019
.
"We are very happy to see Tocvan taking the next steps in advancing the Pilar Gold & Silver
Project. Colibri, through its 100% owned Evelyn Gold Project (which is currently being drilled)
and its partnerships on another four projects which are also being actively explored, anticipates
steady news about activity, advancement, and growth for many months to come,"
says Ron
Goguen, President & CEO of Colibri.
Tocvan reports that it intends to further evaluate surface mineralization with trenching and channel
sampling followed by a series of column leach studies on representative samples at sites across the
Main Zone. In addition, drilling is planned with between 5,000 to 8,000 meters estimated to be
completed between now and July, 2022. Drilling will focus on step-out drilling along the Main Zone and
the new 4-Trench Trend. Exploration drilling will continue to evaluate target areas along the Triple Vein
Zone. Surface exploration work will continue with trenching and sampling along the southeastern
extension of the Main Zone.
2021/2022 Operation Plans
Trenching of Main Zone for bulk sampling and column leach study
5,000 to 8,000 meters of drilling
Drilling to include:
Step-outs of Main Zone targets
Step-out and Exploration drilling along 4-Trench trend
Exploration drilling along Triple Vein Zone
Surface trenching, sampling, and target evaluation.
Operation Details
Metallurgical Studies
Trenching across the near-surface mineralized portions of the Main Zone will be completed for channel
sampling and subsequently for bulk sampling. Several bulk sample composites will be collected for
detailed column leach study and at a later date drill holes will be completed across the Main Zone to
evaluate metallurgical recovery of gold at depth.
Results of bottle roll cyanidation tests from two RC chip composite samples completed in 2021 include:
Composite One -
1.15g/t Au and 12.2g/t Ag head grade
90% recovery of Au
and 84% recovery of
Ag.
Composite Two -
0.63 g/t Au and 6.7 g/t Ag head grade
,
92% recovery of Au
and 70% recovery of
Ag.
Drill Programs
Between 5,000 to 8,000 meters of drilling is proposed during the operational season. Drilling will be
completed in two to three stages with the initial stage focused on step-out drilling along the Main Zone
and 4-Trench Trends (Figure 1.). Drilling planned for the latter part of the program will be evaluating the
depth potential of surface veins exposed on the eastern portion of the property.
Results of drill step-out targets from 2021 drill holes include
:
JES-21-50:
39.7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au
JES-21-47 :
47.7m @ 0.75 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
JES-21-38:
29m @ 0.71g/t Au
JES-21-43:
35.1m @ 0.66 g/t Au
JES-21-53 :
15.3m @ 1.1 g/t Au
- New 4-Trench Trend
Exploration
Exploration Trenching will be completed along the Triple Vein Zone to follow up on chip sampling from
last year that returned,
4.5 g/t Au and 735 g/t Ag
. Further surface sampling will be completed on the
southeast portion of the property where work has been limited to date.
Figure 1. Plan Map of Highlight Drill Holes from 2021 and Key Target Areas for Upcoming Operations
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/102795_d4c48f3644e8b9a8_001full.jpg
About the Pilar Property
The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal
project 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-Trench. Structural features and zones of mineralization within the structures follow an overall NW-
SE trend of mineralization. Over 22,700 m of drilling have been completed to date. Significant results are
highlighted below:
2021 Phase II RC Drilling Highlights include (
all lengths are drilled thicknesses
):
39.7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au
47.7m @ 0.75 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.71g/t Au
35.1m @ 0.66 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 @ 6.0g/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
17,700m of Historic Core & RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
16.5m @ 53.5g/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
Soil and Rock sampling results from undrilled areas indicate mineralization extends towards
the southeast from the Main Zone and 4-Trench Zone. Recent Surface exploration has defined
three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.
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 2021 and 2022. The flagship
Evelyn Gold Project
is 100% owned and explored by Colibri. The Company has four additional projects:
(1) The
Pilar Gold & Silver Project
which is under option to
Tocvan Ventures
(CSE: TOC), the (2)
El
Mezquite Gold & Silver Project
,
(3)
Jackie Gold & Silver Project, and (4) Diamante Gold & Silver
Project
are also currently being actively advanced by partner
Silver Spruce Resources
(TSXV: SSE)
who is earning 50% in each of the three projects. Upon SSE earning 50% ownership, SSE and CBI will
continue to advance these projects as JV partners.
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/102795