- Colibri Resource Corporation (CBI) option partner Tocvan Ventures is reporting assay results from Colibri’s Pilar Gold-Silver Project
- The results are from the first three holes of the phase 2 drill program.
- The Pilar Gold-Silver Project is located in Sonora, Mexico
- Tocvan is in year two of a five-year option agreement with Colibri to earn an initial 51 per cent ownership of the Pilar Gold-Silver Project
- Colibri Resources is up 3.85 per cent, trading at C$0.14 at 10:32 am ET
Colibri Resource Corporation (CBI) option partner Tocvan Ventures is reporting assay results from Colibri’s Pilar Gold-Silver Project.
The results are from the first three holes of the phase 2 drill program.
The Pilar Gold-Silver Project is located in Sonora, Mexico.
The drill program is currently in progress with 2,900 metres of reverse circulation drilling in 17 drill holes completed to date.
Fourteen drill holes are pending assay results.
Tocvan is in year two of a five-year option agreement with Colibri to earn an initial 51 per cent ownership of the Pilar Gold-Silver Project.
“Once again, we are impressed by the drilling results released by Tocvan. They have done an excellent job confirming and growing the deposit to date. Colibri is well positioned to continue delivering significant growth in value on many fronts for its shareholders this year,” said President and CEO Ron Goguen.
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.
“We are extremely pleased with these early stage results. As we advance north of the Main Zone we are finding significant mineralization. We are especially excited to see the continuation of mineralization 30m on strike with our previous drill hole JES-20-36, which intersected 24.2m at 2.5 g/t Au and 73 g/t Ag. Pending assay results for the remaining drill holes will largely focus on our new target areas as we continue to unlock the potential of Pilar,” said Vice President of Exploration Brodie Sutherland.
Colibri is a Canadian mineral exploration company focused on acquiring and exploring prospective gold and silver properties in Mexico. The company has six exploration projects of which five currently have exploration programs being executed or planned for 2021.
Colibri Resources is up 3.85 per cent, trading at C$0.14 at 10:32 am ET.
