DIEPPE, NB, Dec. 11, 2017 /CNW/ - (CBI: TSX-V) Colibri
Resource Corporation (Colibri) is pleased to announce 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 66.33% of
the joint venture with Colibri controlling 33.67%. Agnico
Eagle has had two drills operating at Pitaya (see press release
dated April; 10, 2017); a total of 7286.55 meters in 26 drill holes
were drilled in the most recent campaign and assays have been
received for 23 holes to Nov. 30,
2017. Drilling is still in progress.
Highlights of results from this year's drilling are as
follows:
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PTY-17-003:
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2.2 m @ 20.96 g/t Au
and 57 g/t Ag from 181.6 m
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20.0 m @ 0.42 g/t Au
from 243 m
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PTY-17-010:
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19.0 m @ 0.50 g/t Au
from 4 m
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Including 1.0 m @
6.66 g/t Au from 12 m
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32.1 m @ 0.45 g/t Au
from 107.9 m
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PTY -
17-016:
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27.0 m @ 0.37 g/t Au
from 3 m
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65.0 m @ 0.30 g/t Au
from 182 m
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including 33.2 m @
0.46 g/t Au from 213.9 m
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including 16.4 m @
0.76 g/t Au from 230.7 m
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PTY-17-018:
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25.0 m @ 0.80 g/t Au
from 56 m
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including 13.6 m @
1.20 g/t Au
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PTY – 17-019:
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37.1 m @ 0.55 g/t Au
from 170 m
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including 4.0 m @
2.63 g/t Au
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PTY
-17-023:
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29.3m @ 0.57 g/t Au
from 139 m
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including 3.0 m @
3.06 g/t Au and 5.0 m @ 1.14 g/t Au
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For a list of all results, please have a look at the following
link for Pitaya Project 2017 Drilling Summary & Significant
Intervals provided by Agnico Eagle Mines Ltd. and Pitaya 2017 Drill
Program Drill Hole Location Map.
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.
The Company announces that, further to its October 6, 2017 news release, it has issued
66,666 common shares at a deemed price of $0.15 per common share to settle an indebtedness
of $10,000 due to Ed Stringer, a director of the Company, in
connection with services rendered as an officer of the Company
during the period January 2017 to
June 2017. The common shares issued
pursuant to this transaction are subject to resale restrictions
until April 8, 2018 under applicable
securities legislation.
The Company also wishes to announce it has cancelled the second
tranche of its private placement announced on August 29, 2017, the first tranche of which
closed on September 6, 2017.
The Company has retained Mackie Research Capital Corporation for
market stabilization and liquidity.
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