CBI. Colibri Resources

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 .

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:

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 - (CSE:TOC)), El Mezquite Gold & Silver Project , Jackie Gold & Silver Project, and the Diamante Gold & Silver Project (earn-in agreements with - (TSXV: SSE)) are also currently being actively advanced.

For more information about all Company projects please visit: .

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

EN
11/05/2021

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Colibri Resources

 PRESS RELEASE

Colibri Completes IP Survey and Applies for Drilling Permit at the Eve...

Dieppe, New Brunswick--(Newsfile Corp. - September 9, 2021) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to report the completion of the Induced Polarization ("IP") survey at the Evelyn Gold-Silver Project. The Company is also pleased to announce that utilizing the updated property wide exploration dataset to include the IP survey results, a plan to drill up to 56 holes has been filed for permitting with SEMERNAT (Mexican environmental authority).IP Survey ResultsA total of 82.5-line kilometres ("km") of 3D-IP have been competed in 2 phases at the Evelyn ...

 PRESS RELEASE

Colibri's Option Partner Receives Assay Results for Phase I Drilling C...

Dieppe, New Brunswick--(Newsfile Corp. - September 7, 2021) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to report that its partner, Silver Spruce Resources Inc. (TSXV: SSE) has announced that it has received assay results from the first 10 holes completed on the Phase 1 exploration drilling at El Mezquite Au-Ag property ("El Mezquite" or the "Property"). Nine of the 10 holes reported returned assays or assay intercepts greater that 0.1 grams per tonne ("g/t") Au with a highlight of 0.83 g/t Au over 3.05 metres ("m") in hole MEZ-21-005.The Phase 1 drill ...

 PRESS RELEASE

Colibri Announces Expansion of Target at Jackie Gold & Silver Project ...

Dieppe, New Brunswick--(Newsfile Corp. - August 26, 2021) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that its earn-in partner Silver Spruce Resources (SSE-TSXV) has reported the results of a Phase 2 ground exploration program on the 1,130-hectare Jackie Gold & Silver Property which began June 11th, 2021. Today's News Release By Silver Spruce follows:August 26, 2021 - Bedford, NS - (TSXV: SSE) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") is pleased to announce promising gold and multi-element assay results of its Phase 2 g...

 PRESS RELEASE

Colibri's Option Partner Completes Phase I Drilling at El Mezquite Gol...

Dieppe, New Brunswick--(Newsfile Corp. - August 5, 2021) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that its partner, Silver Spruce Resources, Inc. (TSXV: SSE), has completed its Phase 1 exploration drilling at El Mezquite Au-Ag property ("El Mezquite" or the "Property"). The first seven (7) drill holes of the program were completed on June 14th and the Company is awaiting the results of gold, silver and multi-element analysis from the laboratory. The remaining thirteen (13) holes were drilled with two RC rigs from Layne de Mexico and compl...

 PRESS RELEASE

Colibri's Option Partner Drills 39.7 Metres of 0.96 g/t Gold in Main Z...

Dieppe, New Brunswick--(Newsfile Corp. - July 29, 2021) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that its partner Tocvan Ventures Corp. ("Tocvan") has reported its final 3 assays from its 20-hole (3,500 metres) Phase II reverse circulation ("RC") drill program at the Pilar Gold and Silver Project ("Pilar"), Sonora, Mexico. 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 . "Extension of mi...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch