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Colibri Option Partner Begins Additional Phase III Drilling on Priority Targets at Pilar Gold & Silver Project in Sonora
Dieppe, New Brunswick--(Newsfile Corp. - June 22, 2022) - Colibri Resource Corporation (TSXV...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Option Partner Begins Additional Phase III Drilling on Priority Targets at Pilar Gold & Silver Project in SonoraDieppe, New Brunswick--(Newsfile Corp. - June 22, 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 that it has initiated additional Phase III drilling at 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: (June 22nd, 2022)As a continuation of Phase III, drilling will focus on priority exploration targets across the property. Targeting parallel trends and trend extensions will remain a focus as the Company looks to rapidly define the extent of mineralization at Pilar. Recent reconnaissance drilling in a 200-meter gap between the Main Zone and 4-T Trend was successful in defining a new parallel trend (JES-22-63 returned 54.9-meters at 0.3 g/t Au and 5 g/t Ag from 6.1-meters depth). Another 200-meters to the east, surface exploration returned chip samples of 6.6 g/t Au and 433 g/t Ag defining an untested extension of the 4-T Trend, both of these targets will be tested during this stage of drilling.\"We are excited for this next stage of drilling at Pilar, as we feel the potential to expand the known areas of mineralization is very significant,\" commented Brodie Sutherland, CEO. \"All of these targets have compelling surface geochemistry that warrant further evaluation. Information collected here will be instrumental to the next steps of development as we look to utilize substantial funding to fully unlock the potential of Pilar.\" Figure 1. Map of Phase III Drill Holes with Next Stage of Drilling (Red).To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/4269/128604_ad7914bef41739b4_001full.jpgNext Stage Drill Targets1) Follow-Up on NEW Discovery TrendJES-22-63 (RC)54.9m at 0.3 g/t Au and 5 g/t Ag, from 6.1mIncluding 13.7m at 0.6 g/t Au and 13 g/t Ag, from 6.1mIncluding 4.6m at 1.6 g/t Au and 29 g/t Ag, from 6.1mAnd 9.2m at 0.6 g/t Au and 3 g/t Ag, from 42.7mSoil Sample 170-meter southeast on tr...