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Colibri's Option Partner Tocvan Provides Update for Its Pilar Au-Ag Project - Identifies Mineralized Breccia Host- Mobilizes Second Drill Rig
Dieppe, New Brunswick--(Newsfile Corp. - February 15, 2022) - Colibri Resource Corporation (...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri's Option Partner Tocvan Provides Update for Its Pilar Au-Ag Project - Identifies Mineralized Breccia Host- Mobilizes Second Drill RigDieppe, New Brunswick--(Newsfile Corp. - February 15, 2022) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that its partner on the Pilar Au-Ag Project (\"(Pilar\"), Tocvan Ventures Corp. (\"Tocvan\") has provided an exploration update. Based on reported core drilling, Tocvan interprets a broad breccia body hosting mineralization at the Main Zone and has added a second drill rig to accelerate exploration and delineation at Pilar.Tocvan is currently in its 3rd year of a 5 year agreement to earn an initial 51% of Colibri's Pilar Gold & Silver Project located in the prolific gold producing state of Sonora in Mexico. For full details of Colibri's agreement with Tocvan please see the Company's news release dated September 24th, 2019.TOCVAN REPORTS…A Phase III drill program is currently underway following up on Main Zone expansion targets and new target areas identified in 2021. A second drill rig has been mobilized to increase productivity, a diamond drill rig will accompany RC drilling and assist in understanding the key geological and structural controls of mineralization. Drilling UpdateCore drilling (JES-22-59) has been successful in intersecting a heavily oxidized and fractured mineralized breccia in a twin hole of RC drill hole JES-20-32, completed in 2020 (94.6m at 1.6g/t Au). The strongest mineralization noted in JES-20-32, at 9.2m of 10.8 g/t Au and 38 g/t Ag correlates with a strongly oxidized, brecciated andesite bounded by a distinct fault gauge. Mineralization appears to be primarily hosted in an intensely silicified breccia with pyrite and in select areas copper sulphides (chalcopyrite and cuprite) (see Plates 1 & 2.). Assay results for JES-22-59 are pending. This information will be integral to the planning and design of future drill programs and will provide a more accurate account of the distribution of grade through the Main Zone, helping to define a reliable geological model and future resource estimate. At the Main Zone, four drill holes have been completed to date totalling 684 meters.\"Although the results of JES-22-59 are visual at this stage, the direct correlation with assays results in the twin RC hole JE...