Colibri Resource Corporation Announces Second Batch Results from Drilling at Pilar Gold Project
31 Mayo 2018 - 9:43AM
InvestorsHub NewsWire
Colibri Resource
Corporation Announces Second Batch Results from Drilling at Pilar
Gold Project
DIEPPE, NB -- May 31, 2018 -- InvestorsHub NewsWire -- (CBI: TSX-V) – Colibri Resource
Corporation ("Colibri" or the "Company") wishes to announce assay
results from 16 more holes completed on its Phase 1 reverse
circulation (RC) drilling program on its 100% owned Pilar Gold
Project in Sonora, Mexico. Results include an intersection of
5.37 grams per tonne (g/t) Au over an intersection length of 3.0
meters (m) in hole JES-18-19 which was part of a longer
intersection of 40.5m of 0.73 g/t.
All holes drilled in the
2018 campaign to date at Pilar have intersected gold mineralization
ranging from anomalous to high grade. Hole JES-18-3, previously
released (see Colibri NR dated May 8, 2018) intersected 8.16 g/t Au
over an intersection length of 9 m. Significant intersection
results for the last 16 holes drilled at Pilar are presented in
table 1 below and indicated on the hole locations are presented on
the attached map. In addition to the relatively long
intersection in hole JES-18-19, similar intersections in hole
JES-18-6 (0.31 g/t Au over an intersection length of 22.5 m
including 0.73 g/t Au over 6 m) and hole JES-18-14 (0.20 g/t Au
over an intersection length of 52.5 m including 0.51 g/t Au over an
intersection length of 12m) confirm the previously interpreted 0.20
g/t Au mineral envelope comprising the Main
Zone.
The objectives of the
Phase 1 drill program at Pilar are to test for continuity within
previously interpreted zones of mineralization, test for extensions
to the known mineralization, and explore locally for new zones of
gold mineralization. In addition, the Company has recently
completed a soil geochemistry survey of the eastern half of the
Pilar property. To date, 2,117 metres (20 holes) of the planned
3,000 m Phase 1 RC drill program have been completed. The
Company is reviewing the recent drilling and exploration results
and is now drilling the final 900 m of the Phase 1 drill
program.
Table 1
Select Intercepts from Pilar Phase 1 Drill Program (Holes 5-20)
|
Hole ID |
From |
To |
Length |
Au
(gpt) |
Ag
(gpt) |
| JES-18-5 |
6.00 |
16.50 |
10.50 |
0.28 |
5.82 |
| incl |
7.50 |
9.00 |
1.50 |
1.43 |
28.40 |
| JES-18-5 |
31.50 |
34.50 |
3.00 |
0.41 |
8.65 |
| JES-18-5 |
49.50 |
51.00 |
1.50 |
0.21 |
5.50 |
| JES-18-5 |
121.50 |
126.00 |
4.50 |
0.28 |
0.33 |
| JES-18-6 |
49.50 |
72.00 |
22.50 |
0.31 |
4.84 |
| incl |
66.00 |
72.00 |
6.00 |
0.73 |
15.45 |
| JES-18-7 |
0.00 |
12.00 |
12.00 |
0.52 |
0.84 |
| incl |
0.00 |
3.00 |
3.00 |
1.74 |
2.30 |
| JES-18-8 |
21.00 |
22.50 |
1.50 |
0.39 |
0.70 |
| JES-18-8 |
85.50 |
87.00 |
1.50 |
0.23 |
8.90 |
| JES-18-8 |
93.00 |
94.50 |
1.50 |
0.23 |
2.50 |
| JES-18-9 |
6.00 |
12.00 |
6.00 |
0.79 |
7.50 |
| JES-18-9 |
51.00 |
52.50 |
1.50 |
0.47 |
75.70 |
| JES-18-10 |
no significant
assays |
| JES-18-11 |
no significant
assays |
| JES-18-12 |
15.00 |
16.50 |
1.50 |
0.34 |
13.50 |
| JES-18-12 |
93.00 |
94.50 |
1.50 |
0.28 |
0.25 |
| JES-18-13 |
no significant
assays |
| JES-18-14 |
30.00 |
31.50 |
1.50 |
0.48 |
10.30 |
| JES-18-14 |
91.50 |
144.00 |
52.50 |
0.20 |
0.84 |
| incl |
117.00 |
129.00 |
12.00 |
0.51 |
0.69 |
| JES-18-15 |
no significant
assays |
| JES-18-16 |
73.50 |
93.00 |
19.50 |
0.27 |
1.01 |
| incl |
73.50 |
75.00 |
1.50 |
2.19 |
1.60 |
| incl |
79.50 |
81.00 |
1.50 |
0.52 |
2.70 |
| JES-18-17 |
25.50 |
28.50 |
3.00 |
0.28 |
40.90 |
| JES-18-17 |
37.50 |
48.00 |
10.50 |
0.33 |
21.67 |
| incl |
37.50 |
42.00 |
4.50 |
0.34 |
24.17 |
| incl |
45.00 |
48.00 |
3.00 |
0.59 |
32.75 |
| JES-18-18 |
60.00 |
61.50 |
1.50 |
0.47 |
24.30 |
| JES-18-19 |
33.00 |
73.50 |
40.50 |
0.73 |
1.98 |
| incl |
45.00 |
48.00 |
3.00 |
5.37 |
3.20 |
| JES-18-19 |
87.00 |
88.50 |
1.50 |
0.39 |
0.25 |
| JES-18-19 |
96.00 |
106.50 |
10.50 |
0.20 |
0.25 |
| JES-18-19 |
136.50 |
138.00 |
1.50 |
0.20 |
0.50 |
| JES-18-20 |
88.50 |
94.50 |
6.00 |
0.24 |
1.21 |
| incl |
90.00 |
91.50 |
1.50 |
0.62 |
2.40 |
Note: Reported intervals are not true width. At this time, there
is insufficient data with
respect to the shape of the mineralized system to calculate true
orientations in space. They represent drill intersection lengths
from holes drilled with dips ranging from vertical to 45
degrees.
Qualified Person
and QA/QC
Assays for the Pilar Phase
1 drilling program have been completed at ALS Chemex laboratories
(ALS) with sample preparation completed in Hermosillo, Sonora,
Mexico and Atomic Absorption and Fire Assay analyses completed in
Vancouver, Canada. Colibri employs industry standard QAQC
protocol including the use of control samples to verify assay
results. Jackie E. Stephens, P. Geo supervises the Pilar
drilling program including sampling, chain of custody, and delivery
of sample to ALS. Jackie E. Stephens, P. Geo for Colibri is a
Qualified Person as defined in NI 43-101 and has reviewed and
approved the technical information in this press
release.
About the Pilar
Gold Project
The Pilar Gold Project is
strategically located in the historic Sonora gold district which
has produced the majority of gold mined in Mexico. The Pilar Gold
Project consists of low-sulfidation epithermal mineralization in a
highly fractured, altered, and highly oxidized volcanic host
rock. Two zones of mineralization have been interpreted based
on surface exposure, trenching, and historical drilling and include
the Main Zone and North Zone. A third target area, referred
to as the 4 trench target, has been prioritized for drill
testing. Metallurgical testing (bottle roll) has shown an
average recovery of 92%. The Project is currently drilling the
first phase (3,000m) of a planned two-phase program for 2018 which
will include drilling of up to a total of 10,000m. The program is
designed to confirm and expand known mineralization at Pilar and
use this information to complete an initial, NI 43-101 compliant,
resource estimate.
About Colibri
Resource Corporation:
Colibri is a Canadian
mineral exploration company listed on the TSX-V (CBI) focused on
acquiring and exploring properties in Mexico.
For Further Information Please Contact:
Ronald J. Goguen, President, Chairperson and Director
Tel: (506) 383-4274
rongoguen@colibriresource.com
www.colibriresource.com
The TSX Venture
Exchange has neither approved nor disapproved the contents of this
news release.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release. The statements made in this news release may
contain forward-looking statements that may involve a number of
risks and uncertainties. Actual events or results could
differ materially from the Company's expectations and
projections.
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SOURCE Colibri Resource
Corporation
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