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Colibri Option Partner Announces Additional Phase III Drilling Results at Pilar Gold & Silver Project in Sonora
Dieppe, New Brunswick--(Newsfile Corp. - August 30, 2022) - Colibri Resource Corporation (TSXV...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Option Partner Announces Additional Phase III Drilling Results at Pilar Gold & Silver Project in SonoraDieppe, New Brunswick--(Newsfile Corp. - August 30, 2022) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to report that today its option partner Tocvan Ventures (CSE: TOC) has announced further drilling results from the Company's Pilar Gold & Silver Project in Sonora, Mexico.Tocvan is in year 3 of a 5-year agreement to earn an initial 51% of Colibri's Pilar Gold & Silver Project. For full details of Colibri's agreement with Tocvan please see the Company's news release dated September 24th, 2019.Tocvan Reports: (August 30th, 2022)Seven drill holes were completed, totalling 1,382-meters. Results for the final four drill holes are highlighted in this release. All four drill holes were drilled in new areas and intersected alteration and structures known to host gold-silver mineralization at Pilar. Hole JES-22-72, 125-meters southeast of drill hole JES-22-63 (13.7m of 0.6 g/t Au and 13 g/t Ag and 9.2m of 0.6 g/t Au) returned 22.9-meters of 0.3 g/t Au and 19 g/t Ag, including 7.6-meters of 0.8 g/t Au and 51 g/t Ag (Figure 1) Three drill holes intersected low-grade gold and silver values indicating close proximity to significant mineralization. Hole JES-22-70 returned 12.2-meters of 0.3 g/t Au, including 3.1-meters of 0.8 g/t Au and 3.1-meters of 0.5 g/t Au. Hole JES-22-69 intersected 1.5-meters of 0.7 g/t Au at the end of hole, leaving it open at depth for targeting. The Company is extremely encouraged by these reconaissaince results and planning is underway for the next stage of drilling at Pilar.Figure 1. Plan Map highlighting the results from the latest stage of drilling at Pilar.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4269/135363_9c03c0c8a490082e_001full.jpgDrill HighlightsJES-22-7222.9m of 0.3 g/t Au and 19 g/t Ag (0.5 g/t AuEq*), from 27.5m Incl., 10.7m of 0.6 g/t Au and 40 g/t Ag (1.0 g/t AuEq)Incl., 7.6m of 0.8 g/t Au and 51 g/t Ag (1.3 g/t AuEq)Incl., 3.1m of 1.6 g/t Au and 109 g/t Ag (2.8 g/t AuEq)*Note: AuEq calculated based on metal price assumptions of $1,700/oz gold and $18.00/oz silverJES-22-7012.2m of 0.3 g/t Au, from surfaceIncl., 3.1m of 0.8 g/t Au and 5 g/t AgAnd 3.1m of 0.5 g/t AuJES-22-691.5m of 0.7 g/t...