DIEPPE, NB, June 6, 2017 /CNW/ - (CBI: TSX-V) Colibri
Resource Corporation (Colibri) is pleased to announce the recent
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% of the joint venture with Colibri controlling 34%.
Agnico Eagle has had two drills operating at Pitaya (see press
release dated April; 10, 2017); a total of 1543.7 meters
in six drill holes were drilled in the most recent campaign.
Drilling is continuing with a further 4,700 meters of drilling to
be completed with a total budget of $1.3
million.
Highlights of results from this year's drilling are as
follows:
PTY-17-001:
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5.4 m @ 0.5% Cu from
3 m
|
|
|
PTY-17-002:
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3.6 m @ 0.81 g/t Au
from 2 m
|
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1.1 m @ 0.78 g/t Au
from 11 m
|
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1.1 m @ 2.19 g/t Au
from 24 m
|
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3.3 m @ 0.48 g/t Au
from 35 m
|
|
|
PTY -
17-003:
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6.4 m @ 0.32 g/t Au
from 25 m
|
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1.5 m @ 0.66 g/t Au
from 160 m
|
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2.2 m @ 20.96 g/t Au,
57 g/t Ag from 182 m
|
|
1.0 m @ 0.48 g/t Au,
34 g/t Ag, 3.14% Cu from 300 m
|
|
|
PTY-17-004:
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7.0 m @ 0.51 g/t Au
from 53 m including 0.5 m @ 1.80 g/t Au from 60 m
|
|
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PTY –
17-005:
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No significant
assays
|
|
|
PTY
-17-006:
|
(Preliminary
Results)
|
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1 m @ 0.24 g/t Au
from 1 m
|
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1 m @ 2.37 g/t Au
from 5 m
|
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7 m @ 0.36 g/t Au
from 11 m
|
|
1 m @ 0.28 g/t Au
from 21 m
|
|
1 m @ 0.30 g/t Au
from 24 m
|
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1 m@ 0.30 g/t Au from
30 m
|
|
4 m @ 0.94 g/t Au
from 37 m
|
|
0.5 m @ 0.44 g/t Au
from 112 m
|
Edward Stringer, CEO of Colibri
is quoted as saying, "We are most encouraged by the presence of
widespread gold encountered by Agnico Eagle in the recent drilling
at our Pitaya joint venture project. We look forward to
receiving additional drill results as they arrive."
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.
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