DIEPPE, NB, Aug. 23, 2017 /CNW/ - (CBI: TSX-V) Colibri Resource Corporation ("Colibri" or the "Company") is pleased to announce plans to extend three (3) tranches of R.C. Drilling (10,000 meters) at its newly acquired Pilar Gold Project (see the Company's news release dated August 9, 2017). The Pilar Gold Project is near Suaqui Grande, Sonora, Mexico. Colibri is also pleased to announce that, as this next round of drilling is extremely important, it has retained Pierre Jean Lafleur, one of the best known mining engineers in the world, for 3D hole plottings of pre-drilling and drilling services.
M. Lafleur has a wealth of experience in managing and developing additional reserves. He graduated with a Bachelor of Science and a Masters Degree from Polytechnique of Montreal (1976) with honours and has consulted for over fifty (50) major mining companies on all continents over a 42-year-period, evaluating metal and industrial mineralization and mines.
He is a civil engineer, geologist and statistician for evaluating and improving the proficiency of mines, with his emphasis on experience with the latest computer software such as GEMCOM. M. Lafleur has lived and worked in Canada, Mexico, Colombia, Chile, Costa Rica, Ghana, Greece, Mali, Morocco, Niger, Peru, Philippines, Russia, the USA, Brazil and Saudi Arabia. The Company feels very fortunate to be working with an individual of this calibre and expertise on the upcoming Pilar drill program.
The access to the 100% owned Gold/Silver Pilar Gold prospect is good, there is no NSR and Colibri has a friendly Surface Rights Agreement (SRA) that has been signed with Suaqui Grande locals. Jackie E. Stephens, the Company's country manager and geologist, has worked extensively in the Suaqui Grande area for the past 10 years and has a friendly relationship with many locals who are supportive of mining possibilities in their area. Mr. Stephens, a Q.P., will be managing the 10,000 meters of drilling.
Colibri will start the drilling by extending the known "main mineral" Au zone, looking carefully at all the previous 3D hole-plots. The goal is to plot at least four more optimum drill targets, including two highly anomalous geophysical chargeability/resistivity anomalies, where the Company expects to encounter high values of pyrite and an association with Au and high chargeabilities, and also possibly high Au values with silicification, caused by high resisitivities.
A copy of the Company's NI 43-101 report on the Pilar Gold Property may be viewed at www.sedar.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.
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
For further information: Ron Goguen, President, CEO and Director, Tel: (506) 383-4274, [email protected]