
Colibri & Partner Drill 83.5 Metres At 1.3 Grams Per Tonne Gold (Including 10.3 Grams Per Tonne Gold Over 9.7 Metres) At El Pilar Gold & Silver Project In Sonora Mexico
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) |
JES-25-103 | 19.70 | 29.30 | 9.60 | 0.15 | 11.64 | 0.90 |
and | 50.70 | 54.40 | 3.70 | 0.40 | 38.80 | 2.56 |
within | 19.70 | 54.40 | 34.70 | 0.09 | 7.73 | 0.54 |
JES-25-104 | 87.83 | 97.55 | 9.72 | 10.31 | 4.85 | NSV |
Including | 87.83 | 89.45 | 1.62 | 60.6 | 13.30 | NSV |
and | 23.25 | 54.00 | 30.75 | 0.14 | 1.21 | NSV |
within | 14.10 | 97.55 | 83.45 | 1.27 | 1.24 | NSV |
Table 1: Summary of Drill Results in this release
Hole ID | Easting | Northing | Elevation (m) | Depth (m) | Azimuth | Dip |
JES-25-103 | 617328 | 3144754 | 388.55 | 80.50 | 055 | -70 |
JES-25-104 | 617414 | 3144638 | 399.75 | 103.60 | – | -90 |
Table 2. Summary of drill collar locations and orientations. Coordinates are in UTM NAD 27, Zone 12N
Pilar Drill Highlights:
2024 RC Drilling Highlights include ( all lengths are drilled thicknesses ):
42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au
56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au
16.8m @ 0.8 g/t Au and 19 g/t Ag
2022 Phase III Diamond Drilling Highlights include ( all lengths are drilled thicknesses ):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include ( all lengths are drilled thicknesses ):
2020 Phase I RC Drilling Highlights include ( all lengths are drilled thicknesses ):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4″ to +1/8″)
Fine Fraction (-1/8″) Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Based on management’s strong belief in the project’s potential, the Company is outlining a permitting and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the Company believes the onsite test mine will provide key economic parameters and showcase the mineral potential of the area. In 2023, the Company completed an offsite bulk sample that produced important data showcasing the potential to recover both gold and silver through a variety of methods including heap leach, gravity and agitated leach (see August 22, 2023, news release for more details).
Quality Assurance / Quality Control
Rock and Drill samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person (” QP “) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, 2) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico’s second largest major producer of gold on four sides, and 3) two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project.
For more information about all Company projects please visit: .
Contact:
Ian McGavney, President, CEO and Director
Tel: (506) 383-4274
…
Forward-Looking Statements
Neither the 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 news release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward- looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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SOURCE: Colibri Resource Corporation
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