Reports Drilling Progress at Pilar Gold & Silver Project
Colibri Option Partner, Tocvan Ventures Corp.
Reports Drilling Progress at Pilar Gold &
Silver Project
Dieppe, New Brunswick--(Newsfile Corp. - May 11, 2021) -
Colibri Resource Corporation (TSXV: CBI)
("Colibri" or the "Company") is pleased to announce that its partner, Tocvan Ventures Corp. ("Tocvan")
has reported its progress regarding the Phase 2 drill program at the Pilar Gold & Silver Project.
Tocvan
is in year two 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
.
To date, eleven (11) drill holes have been completed for a total of 1,811 meters (see Illustration 1).
Samples for the first five holes have been submitted to ALS Labs in Hermosillo, the remaining samples
from the holes completed to date will be submitted later this week. Initial drilling has focused on the
extension of the Main Zone by testing down-dip extensions of mineralization and stepping out along
strike. Drill has now shifted towards testing new targets
at the 4-Trench Extension and Triple Vein Zone
zones.
Illustration 1 - 2020 and 2021 drilling map at Pilar Gold & Silver Project
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4269/83620_355b03c904e99879_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 19,200 m of drilling have been completed to date. Significant results are
highlighted below:
2020 Phase I RC Drilling Highlights include (
all lengths are drilled thicknesses
):
94.6m @ 1.6 g/t Au, including 1.5 m @ 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
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 or planned for 2021. The
flagship
Evelyn Gold Project
is 100% owned and explored by Colibri. The Company has four additional
projects,
Pilar Gold & Silver Project
(optioned to
Tocvan Ventures
- (CSE:TOC)),
El Mezquite Gold &
Silver Project
,
Jackie Gold & Silver Project, and the Diamante Gold & Silver Project
(earn-in
agreements with
Silver Spruce Resources
- (TSXV: SSE)) are also currently being actively advanced.
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 further information: 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/83620