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Colibri Option Partner Drills 116.9-Meters of 1.2 g/t Au and 7 g/t Ag, Including 10.2-Meters of 12 g/t Au and 23 g/t Ag at Pilar
Dieppe, New Brunswick--(Newsfile Corp. - April 14, 2022) - Colibri Resource Corporation (TSX...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Option Partner Drills 116.9-Meters of 1.2 g/t Au and 7 g/t Ag, Including 10.2-Meters of 12 g/t Au and 23 g/t Ag at PilarDieppe, New Brunswick--(Newsfile Corp. - April 14, 2022) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to report that its option partner Tocvan Ventures has announced drilling results from the Company's Pilar Gold & Silver Project in Sonora, Mexico. Results for drill hole JES-22-59 are provided in this release. The hole is a diamond core twin of RC drill hole JES-20-32 which returned 94.6-meters at 1.6 g/t Au (see Figure 1).A total of 1,562 meters of Phase III drilling has been completed in nine drill holes providing key information across the Main Zone and 4-T Trend. Results for five drill holes are pending.Tocvan is in year 3 of a 5-year agreement to earn an initial 51% of Colibri's Pilar Gold & Silver Project. Colibri currently owns in excess of one million shares of Tocvan and is scheduled to receive additional compensation shares and cash annually from the purchaser during the remainder of the option period. For full details of Colibri's agreement with Tocvan please see the Company's news release dated September 24th, 2019.Tocvan Reports: (April 14th, 2022)Drill HighlightsJES-22-59 (Core)116.9m at 1.2 g/t Au and 7 g/t AgIncluding 48.1m at 2.8 g/t Au and 9 g/t AgIncluding 10.2m at 12.0 g/t Au and 23 g/t AgIncluding 4.2m at 28.3 g/t Au and 49 g/t Ag\"Once again core drilling has confirmed the significant grade and distribution of gold-silver mineralization at Pilar,\" commented Brodie Sutherland, CEO. \"This further validates the strength of the shallow mineralized system at Pilar, especially in regard to the significant high-grade mineralization adjacent to controlling structures. We look forward to reviewing the remaining results that test the extension of these controlling faults to the southeast.\" Discussion of Significant ResultsAs part of the Phase III program, nine drill holes have been completed totalling over 1,562 meters (Figure 1). Drilling looked to expand the Main Zone through 25, 50 and 100-meter step-outs to the southeast in a gap zone that has seen little drilling focused on the main trend between hole JES-20-32 (94.6m at 1.6 g/t Au) and hole JES-21-50 (39.7m at 0.96 g/t Au). Drilling also covered the 4-T Trend testing below trenc...