DIEPPE, NB, Nov. 14, 2017 /CNW/ - (CBI: TSX-V) Colibri
Resource Corporation ("Colibri") is pleased to announce that it has
created and confirmed a model to delineate drill targets on the
Pilar property. Colibri hired international consultant and
geologist PJ Lafleur to work with Hector
Mendivil, a 3D software (ArcGIS TARGET) specialist in
Hermosillo. Under Colibri's country manager and geologist,
Jackie E. Stephens, a model was
created pertaining to the existing 2 gold trends on the Pilar Gold
Project.
Stephens, a graduate-student of the University of Arizona under Dr. John Guilbert, with 50 years of world-wide
mineral exploration experience, has determined several new
drill-targets at the Pilar.
Stephens states that there are blocks of Tarajumara Cretaceous
Andesites at the surface, with later Rhyolite dikes intruding the
Andesites. These volcanics are bordered on the west by a
large Granordiorite batholith and it is thought to be under
the Andesites. The gold mineral of interest is at the horizontal
top of the Granodiorite and the bottom of the Andesites, and upward
along near vertical northwesterly trending structures within the
Andesite blocks.
The gold is directly associated with reddish colored anomalies
caused by the oxidation of pyrite. It is assumed that the gold is
associated with the pyrite, and considering the +90% recovery of
gold, it is also assumed to be on the surface of the pyrite
and not encapsulated. This being so, the geophysical high
"chargeability" anomalies shown by the SJ Geophysics Report make
good drilling targets. These targets will also be tested.
It has been assumed in the past that the main NE Fault structure
at the center of the gold mineralization on the Pilar Project of
interest is a "strike-slip" fault, and the North Hill
Mineralization is a right-lateral extension of the South Hill
Mineral. However, recent drilling of JESP-12-15 has shown an
extension of the South Hill mineral crossing the strike-slip fault
to the NNW, and if so, there would be no strike-slip movement, but
there would be two separate parallel fault-zones containing
gold mineralization. which would allow greater potential for
additional ounces of gold at the Pilar.
A full report of all rock-chip samples can be viewed on the
recent Pilar report on the Colibri website by following this link:
http://www.colibriresource.com/wp-content/uploads/2017/11/2011-11-09-pilar-rpt-7b2y4m.pdf
Qualified Person and NI 43-101 Discloser;
Jackie E. Stephens, P. Geo. on the Pitaya
exploration is the Qualified Person (as defined in NI 43-101) for
Colibri and 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.
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.
SOURCE Colibri Resource Corporation