DIEPPE, NB, March 20, 2018 /CNW/ - (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.
For more information about all of our projects please visit:
www.colibriresource.com
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.
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.
SOURCE Colibri Resource Corporation