DIEPPE, NB, May 31, 2018 /CNW/ - (CBI: TSX-V) – Colibri
Resource Corporation ("Colibri" or the "Company") wishes to
announce assay results from 16 more holes completed on its Phase 1
reverse circulation (RC) drilling program on its 100% owned Pilar
Gold Project in Sonora,
Mexico. Results include an intersection of 5.37 grams per
tonne (g/t) Au over an intersection length of 3.0 meters (m) in
hole JES-18-19 which was part of a longer intersection of
40.5m of 0.73 g/t.
All holes drilled in the 2018 campaign to date at Pilar have
intersected gold mineralization ranging from anomalous to high
grade. Hole JES-18-3, previously released (see Colibri NR dated
May 8, 2018) intersected 8.16 g/t Au
over an intersection length of 9
m. Significant intersection results for the last 16
holes drilled at Pilar are presented in table 1 below and indicated
on the hole locations are presented on the attached map. In
addition to the relatively long intersection in hole JES-18-19,
similar intersections in hole JES-18-6 (0.31 g/t Au over an
intersection length of 22.5 m
including 0.73 g/t Au over 6 m) and
hole JES-18-14 (0.20 g/t Au over an intersection length of
52.5 m including 0.51 g/t Au over an
intersection length of 12m) confirm
the previously interpreted 0.20 g/t Au mineral envelope comprising
the Main Zone.
The objectives of the Phase 1 drill program at Pilar are to test
for continuity within previously interpreted zones of
mineralization, test for extensions to the known mineralization,
and explore locally for new zones of gold mineralization. In
addition, the Company has recently completed a soil geochemistry
survey of the eastern half of the Pilar property. To date, 2,117
metres (20 holes) of the planned 3,000
m Phase 1 RC drill program have been completed. The
Company is reviewing the recent drilling and exploration results
and is now drilling the final 900 m
of the Phase 1 drill program.
|
Table
1
|
|
Select Intercepts
from Pilar Phase 1 Drill Program (Holes 5-20)
|
|
Hole
ID
|
From
|
To
|
Length
|
Au
(gpt)
|
Ag
(gpt)
|
|
JES-18-5
|
6.00
|
16.50
|
10.50
|
0.28
|
5.82
|
|
incl
|
7.50
|
9.00
|
1.50
|
1.43
|
28.40
|
|
JES-18-5
|
31.50
|
34.50
|
3.00
|
0.41
|
8.65
|
|
JES-18-5
|
49.50
|
51.00
|
1.50
|
0.21
|
5.50
|
|
JES-18-5
|
121.50
|
126.00
|
4.50
|
0.28
|
0.33
|
|
JES-18-6
|
49.50
|
72.00
|
22.50
|
0.31
|
4.84
|
|
incl
|
66.00
|
72.00
|
6.00
|
0.73
|
15.45
|
|
JES-18-7
|
0.00
|
12.00
|
12.00
|
0.52
|
0.84
|
|
incl
|
0.00
|
3.00
|
3.00
|
1.74
|
2.30
|
|
JES-18-8
|
21.00
|
22.50
|
1.50
|
0.39
|
0.70
|
|
JES-18-8
|
85.50
|
87.00
|
1.50
|
0.23
|
8.90
|
|
JES-18-8
|
93.00
|
94.50
|
1.50
|
0.23
|
2.50
|
|
JES-18-9
|
6.00
|
12.00
|
6.00
|
0.79
|
7.50
|
|
JES-18-9
|
51.00
|
52.50
|
1.50
|
0.47
|
75.70
|
|
JES-18-10
|
no significant
assays
|
|
JES-18-11
|
no significant
assays
|
|
JES-18-12
|
15.00
|
16.50
|
1.50
|
0.34
|
13.50
|
|
JES-18-12
|
93.00
|
94.50
|
1.50
|
0.28
|
0.25
|
|
JES-18-13
|
no significant
assays
|
|
JES-18-14
|
30.00
|
31.50
|
1.50
|
0.48
|
10.30
|
|
JES-18-14
|
91.50
|
144.00
|
52.50
|
0.20
|
0.84
|
|
incl
|
117.00
|
129.00
|
12.00
|
0.51
|
0.69
|
|
JES-18-15
|
no significant
assays
|
|
JES-18-16
|
73.50
|
93.00
|
19.50
|
0.27
|
1.01
|
|
incl
|
73.50
|
75.00
|
1.50
|
2.19
|
1.60
|
|
incl
|
79.50
|
81.00
|
1.50
|
0.52
|
2.70
|
|
JES-18-17
|
25.50
|
28.50
|
3.00
|
0.28
|
40.90
|
|
JES-18-17
|
37.50
|
48.00
|
10.50
|
0.33
|
21.67
|
|
incl
|
37.50
|
42.00
|
4.50
|
0.34
|
24.17
|
|
incl
|
45.00
|
48.00
|
3.00
|
0.59
|
32.75
|
|
JES-18-18
|
60.00
|
61.50
|
1.50
|
0.47
|
24.30
|
|
JES-18-19
|
33.00
|
73.50
|
40.50
|
0.73
|
1.98
|
|
incl
|
45.00
|
48.00
|
3.00
|
5.37
|
3.20
|
|
JES-18-19
|
87.00
|
88.50
|
1.50
|
0.39
|
0.25
|
|
JES-18-19
|
96.00
|
106.50
|
10.50
|
0.20
|
0.25
|
|
JES-18-19
|
136.50
|
138.00
|
1.50
|
0.20
|
0.50
|
|
JES-18-20
|
88.50
|
94.50
|
6.00
|
0.24
|
1.21
|
|
incl
|
90.00
|
91.50
|
1.50
|
0.62
|
2.40
|
|
|
Note: Reported
intervals are not true width. At this time, there is insufficient
data with
respect to the shape of the mineralized system to calculate true
orientations in space. They
represent drill intersection lengths from holes drilled with dips
ranging from vertical to 45 degrees.
|
Qualified Person and QA/QC
Assays for the Pilar Phase 1 drilling program have been
completed at ALS Chemex laboratories (ALS) with sample preparation
completed in Hermosillo, Sonora,
Mexico and Atomic Absorption and Fire Assay analyses
completed in Vancouver,
Canada. Colibri employs industry standard QAQC protocol
including the use of control samples to verify assay results.
Jackie E. Stephens, P. Geo
supervises the Pilar drilling program including sampling, chain of
custody, and delivery of sample to ALS. Jackie E. Stephens, P. Geo for Colibri is a
Qualified Person as defined in NI 43-101 and has reviewed and
approved the technical information in this press release.
About the Pilar Gold Project
The Pilar Gold Project is strategically located in the historic
Sonora gold district which has
produced the majority of gold mined in Mexico. The Pilar Gold Project consists of
low-sulfidation epithermal mineralization in a highly fractured,
altered, and highly oxidized volcanic host rock. Two zones of
mineralization have been interpreted based on surface exposure,
trenching, and historical drilling and include the Main Zone and
North Zone. A third target area, referred to as the 4 trench
target, has been prioritized for drill testing. Metallurgical
testing (bottle roll) has shown an average recovery of 92%. The
Project is currently drilling the first phase (3,000m) of a planned two-phase program for 2018
which will include drilling of up to a total of 10,000m. The program is designed to confirm and
expand known mineralization at Pilar and use this information to
complete an initial, NI 43-101 compliant, resource estimate.
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