Business
Colibri Resource Corporation Provides a Review of its 2018 Business/Exploration Activities
Colibri Resource Corporation Provides a Review of its 2018 Business/Exploration Activities...
About this update from Colibri Resource Corporation
[{"type":"text","content":"\n\n\n\nColibri Resource Corporation Provides a Review of its 2018 Business/Exploration Activities\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nDIEPPE, NB, Dec. 19, 2018\n\n\n\nDIEPPE, NB, Dec. 19, 2018 /CNW/ - (CBI: TSX-V) – Colibri Resource Corporation (\"Colibri\" or the \"Company\") wishes to provide share holders with a review of its business activities over the last year.\nIn February 2018, the Company announced a private placement financing of up to $1 million at $0.10 per unit with proceeds being allocated to a drilling program at the Pilar Project. A unit consisted of one common share of Colibri and one common share purchase warrant which allows the unit holder to purchase an additional common share at $0.15 for a five-year period. The placement was oversubscribed by 20%.\nThe 27 hole drilling program at Pilar which was completed in July totaled 2,900m and extended the length of the known mineralized gold deposit by 52% and also confirmed many of the reported drilling results completed by Santa Catalina Mining (a previous operator for which Colibri had no drill log data or samples) who drilled the project in the mid 1990's. The deposit remains open to the south east along strike.\nSubsequent to the Pilar drilling program, Colibri was able to locate and retain on a consulting basis Dr. David Plaza who was the original founder of the Pilar project and also the geologist utilized by Santa Catalina Mining at Pilar in the 1990's. This relationship is already proving to be very helpful as Dr. Plaza was able to provide the Company with much more detail about the project including: the total number of holes that they drilled, their locations, directions and azimuths, several drill logs, as well as their interpretation of structures. His assertion is that historical resu...