Chat with us, powered by LiveChat Colibri Resource Corp. | Colibri Reports Drilling Results from the Pitaya Project as Received from J.V. Partner Agnico Eagle


Colibri Reports Drilling Results from the Pitaya Project as Received from J.V. Partner Agnico Eagle

June 6, 2017

DIEPPE, N.B., June 6, 2017. (CBI: TSX-V) Colibri Resource Corporation (Colibri) is pleased to announce the recent drill results for the Pitaya project, Sonora, Mexico, as received from joint venture partner, Agnico Eagle Mines Limited (Agnico Eagle).  Pitaya is a joint venture project with Agnico Eagle and is immediately adjacent to and on strike from Fresnillo’s Tajitos discovery, in which greater than 328,000 ounces of gold have been announced.  Agnico Eagle is the operator of the Pitaya Project and currently holds 66% of the joint venture with Colibri controlling 34%.  Agnico Eagle has had two drills operating at Pitaya (see press release dated April; 10, 2017); a total of 1,543.7 meters in six drill holes were drilled in the most recent campaign.  Drilling is continuing with a further 4,700 meters of drilling to be completed with a total budget of $1.3 million.

Highlights of results from this year’s drilling are as follows:

PTY-17-001:        5.4 m @ 0.5% Cu from 3 m

PTY-17-002:        3.6 m @ 0.81 g/t Au from 2 m

1.1 m @ 0.78 g/t Au from 11 m

1.1 m @ 2.19 g/t Au from 24 m

3.3 m @ 0.48 g/t Au from 35 m

PTY – 17-003:      6.4 m @ 0.32 g/t Au from 25 m

1.5 m @ 0.66 g/t Au from 160 m

2.2 m @ 20.96 g/t Au, 57 g/t Ag from 182 m

1.0 m @ 0.48 g/t Au, 34 g/t Ag, 3.14% Cu from 300 m

PTY-17-004:        7.0 m @ 0.51 g/t Au from 53 m  including 0.5 m @ 1.80 g/t Au from 60 m

PTY – 17-005:     No significant assays

PTY -17-006:       (Preliminary Results)

1 m @ 0.24 g/t Au from 1 m

1 m @ 2.37 g/t Au from 5 m

7 m @ 0.36 g/t Au from 11 m

1 m @ 0.28 g/t Au from 21 m

1 m @ 0.30 g/t Au from 24 m

1 m@ 0.30 g/t Au from 30 m

4 m @ 0.94 g/t Au from 37 m

0.5 m @ 0.44 g/t Au from 112 m

Edward Stringer, CEO of Colibri is quoted as saying, “We are most encouraged by the presence of widespread gold encountered by Agnico Eagle in the recent drilling at our Pitaya joint venture project.  We look forward to receiving additional drill results as they arrive.”

Qualified Person and NI 43-101 Discloser

Jackie E. Stephens, P. Geo for Colibri on the Pitaya exploration is the Qualified Person, as defined in NI 43-101, has reviewed and approved the technical information in this press release.

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:

Edward Stringer, President, CEO and Director

Tel: (506) 383-4274

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward looking statements concerning future operations of Colibri Resource Corp.(the “Company”).  All forward looking statements concerning the company’s future plans and operations, including management’s assessment of the Company’s project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company’s control.  Investors are cautioned that any such statements are not guarantees of future performance and that actual performance, exploration and financial results may differ materially from any estimates and projections.