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Colibri Resource Corporation Wishes to Provide an Update of its Corporate Development Plans for the First Quarter of 2018
Colibri Resource Corporation Wishes to Provide an Update of its Corporate Development Plan...
About this update from Colibri Resource Corporation
[{"type":"text","content":"\n\n\n\nColibri Resource Corporation Wishes to Provide an Update of its Corporate Development Plans for the First Quarter of 2018\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\n\n\n\n\n\n\nCanada NewsWire\nDIEPPE, NB, Jan. 4, 2018\n\n\n\nDIEPPE, NB, Jan. 4, 2018 /CNW/ - (CBI: TSX-V) Colibri Resource Corporation (\"Colibri\" or the \"Company\") wishes to provide an update of its Corporate Development plans for the first quarter of 2018.\n\nPilar Gold Project – Advanced Gold Exploration ProjectThe Company has finalized its plans for a two-phase drilling program on the \"Main Zone\" at its 100% owned advanced exploration Pilar Gold Project in the Sonora State of Mexico. To date, Colibri has defined an in-house resource calculation on Main Zone deposit of 700,000 tonnes grading 1.9 g/t. This new program is designed to expand this resource and define it by NI 43-101 standards.\n\nDrilling targets for this program have been chosen by utilizing 3D modelling techniques introduced in a model prepared by geologist PJ Lafleur, Hector Mendivil, a 3D software (ArcGIS TARGET) specialist, and Colibri's Country Manager & geologist Jackie E. Stephens (see CBI news release dated November 14, 2017).\n\nPhase 1 - Up to 3,000 metres of drilling in the Main Zone deposit that will further infill drill and expand the currently defined resource.\n\nPhase 2 - Upon interpretation and modeling of the Phase 1 drilling, an additional 7,000 m of drilling will be conducted to further delineate and define additional resources. Colibri will utilize these results to update its NI 43-101 Report on the project with expectations of announcing a resource estimate (completion of Phase 2 is expected mid-year 2018).\n\nPermitting for these two drilling programs has already been applied for and received from local and national authorities. A drilling contractor has also already been retained to complete the work.\n\n\"We are very excited by the prospect of defining and growing our reserves in the Main Zone. Much has been learned from previous exploration activities and we are confident that we will achieve...