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Colibri's Option Partner Drills 15.3 Metres of 1.1 G/t Gold in New 4-trench Extension and Defines New Mineralized Trend at Pilar
Dieppe, New Brunswick--(Newsfile Corp. - July 27, 2021) - Colibri Resource Corporation (TSXV: ...
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[{"type":"text","content":"Colibri's Option Partner Drills 15.3 Metres of 1.1 G/t Gold in New 4-trench Extension and Defines New Mineralized Trend at PilarDieppe, New Brunswick--(Newsfile Corp. - July 27, 2021) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that its partner Tocvan Ventures Corp. (\"Tocvan\") has reported assays from 4 additional holes completed on its 20-hole (2,500 metres) Phase II reverse circulation (\"RC\") drill program at the Pilar Gold and Silver Project (\"Pilar\"), Sonora, Mexico. Tocvan is in year two of a five-year option agreement with Colibri to earn an initial 51% ownership of the Pilar Gold-Silver Project. For full details of the agreement see Colibri's news release dated September 24th, 2019. \"Our partner continues to illustrate the potential at Pilar. Results from Phase II drilling by Tocvan includes extension of the Main Zone and with these current results the confirmation of mineralization along the 4 Trench structure located northeast of the Main Zone. The drilling appears to be defining a footprint of mineralization approximately 500m x 500m with expansion potential to the southeast. We anxiously look forward to our partners continued success and the delineation and expansion of mineralization,\" states Ron Goguen, President & CEO of Colibri.Highlights and discussion of results as released by Tocvan follow:Drill Result HighlightsJES-21-53 (Figure 1)15.3 meters at 1.1 g/t Au and 2 g/t Ag from 36.6 to 51.9 metersIncluding 4.6 meters at 2.4 g/t Au and 3 g/t Ag from 41.2 to 45.8 metersIncluding 1.5 meters at 4.6 g/t Au and 3 g/t Ag from 42.7 to 44.2 metersJES-21-523.0 meters at 0.63 g/t Au and 47 g/t Ag from 33.6 to 36.6 metersAnd 3.0 meters at 0.49 g/t Au and 31 g/t Ag from 41.2 to 44.2 metersJES-21-5510.7m at 0.43 g/t Au and 4 g/t Ag from 10.7 to 21.4 metersIncluding 1.5 meters at 1.2 g/t Au and 7 g/t Ag from 12.2 to 13.7 metersResults DiscussionJES-21-52 - The hole was planned to test the 4-Trench Extension target. Drilling intersected a broad low-grade zone from 7.6 to 44.2m of 0.18 g/t Au and 7 g/t Ag, including a two higher grade sections with 3m of 0.63 g/t Au and 47 g/t Ag along with 3m of 0.49 g/t Au and 31 g/t Ag. (see Table 1). JES-21-53 - The hole was planned to test the 4-Trench Extension target 100m on trend with drill hole JES-21-44. The hole intersec...