Chat with us, powered by LiveChat Colibri Resource Corp. | Colibri Resource Corporation Announces Initiation of Phase 1 Drilling at Pilar


Colibri Resource Corporation Announces Initiation of Phase 1 Drilling at Pilar

March 20, 2018

DIEPPE, N.B., March 20th, 2018 (CBI: TSX-V) – Colibri Resource Corporation (“Colibri” or the “Company”) is pleased to announce that that Phase 1 drilling of its 2018 drilling program has begun on its 100% owned Pilar Project in Sonora State Mexico.

The Phase 1 drilling program, which calls for up to 30 holes to be drilled, is designed to confirm modelling and extend the known mineralization of the Main Zone to the north-west and south-east along trend.

Drilling targets for this program have chosen by utilizing 3D modelling techniques introduced in a model prepared by geologist Jamie Lavigne, Hector Mendivil, a Geosoft TARGET for ArcGIS specialist, and Colibri’s Country Manager & geologist Jackie E. Stephens.

In the past it had been assumed that the main NW/SE Fault structure at the center of the gold mineralization on the Pilar Project of interest was a “strike-slip” fault, and the North Hill Mineralization is a right-lateral extension of the South Hill Mineral.  However, when a prior operator drilled the JESP-15 hole, results indicated that mineralization actually extended into North Hill crossing the strike-slip fault to the NW. This could indicate that there is in fact be no strike-slip movement, but rather there are two separate parallel fault-zones containing gold mineralization. If further proven, this will allow for much greater potential for additional ounces of gold at the Pilar Project.

To date, Colibri has defined an in-house resource calculation on Main Zone deposit of 700,000 tonnes grading 1.9 g/t Au.

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Qualified Person and NI 43-101 Discloser

Jackie E. Stephens, P. Geo for Colibri, is the Qualified Person, (as defined in NI 43-101), who 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:
Ronald J. Goguen, President, Chairperson and Director
Tel: (506) 383-4274

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.