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Colibri's Option Partner Tocvan Ventures Corp. Drills 47.3 Metres of 0.75 g/t Au and 7.6 Metres of 1.76 g/t Au at the Pilar Gold & Silver Project
Dieppe, New Brunswick--(Newsfile Corp. - July 8, 2021) - Colibri Resource Corporation (TSXV: C...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri's Option Partner Tocvan Ventures Corp. Drills 47.3 Metres of 0.75 g/t Au and 7.6 Metres of 1.76 g/t Au at the Pilar Gold & Silver ProjectDieppe, New Brunswick--(Newsfile Corp. - July 8, 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 6 holes completed on its 20-hole (2,500 metres) Phase II reverse circulation (\"RC\") drill program at the Pilar Gold and Silver Project, 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.Highlights and discussion of the assay results as reported by Tocvan are as follows:JES-21-4747.3 meters at 0.75 g/t Au and 5 g/t Ag (0.80 g/t AuEq) from surface to 47.3 metersIncluding 12.2 meters at 1.1 g/t Au and 12 g/t Ag from surface to 12.2 metersAlso 19.8 meters at 1.06 g/t Au and 4 g/t Ag from 27.5 to 47.3 metersIncluding 3.1 meters at 5.6 g/t Au and 22 g/t Ag from 44.2 to 47.3 metersJES-21-4444.2 meters at 0.41 g/t Au and 4 g/t Ag (0.45 g/t AuEq) from 10.7 to 54.9 metersIncluding 7.6 meters at 1.7 g/t Au and 7 g/t Ag from 47.3 to 54.9 metersDiscussion of ResultsComplete assay results from the 6 holes are reported in the table below and the locations of the 6 holes are highlighted on the drill hole plan map (Figure 1). JES-21-44 was planned to test the 4-Trench Extension target and intersected a broad low-grade zone from 10.7 to 54.9m of 0.41 g/t Au, including a higher-grade section of 7.6m of 1.7g/t Au and 7 g/t Ag (see Table 1). Historic results from drill hole N-12 intersected 4.5m of 1.42 g/t Au, 40m to the east of JES-21-44. JES-21-47 was planned to test southeast along the Main Zone Trend 100m from drill hole JES-20-32. The hole also tested 60m down-dip of historic hole JES-18-03, which intersected 13.5m of 5.6 g/t Au and 22 g/t Ag (Figure 2). Hole JES-21-47 intersected a broad zone of mineralization from surface to 47.3m of 0.75 g/t Au and 5 g/t Ag with a higher-grade interval of 3.1m of 5.6 g/t Au and 22 g/t Ag.Figure 1. Planview Map of Phase II Drill Program UpdateTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/4269/89763_...