Colibri Partner Reports Plans for Further Drilling and a Potential On-Site Test Mine at the Pilar Main Zone
Colibri Resource (TSXV: CBI) reports that its partner, Tocvan Ventures (51% interest), has announced plans for the Pilar Gold & Silver Project in Sonora, Mexico. Key highlights include:
1. A core drill program at the Pilar Main Zone scheduled to start in September.
2. Plans for resource drilling with core and RC methods.
3. A strategy for a pilot facility at Pilar, aiming to process up to 50,000 tonnes of material by early 2025.
4. Preparations for 1,200 to 2,000 meters of core drilling and 1,700 to 2,500 meters of RC drilling before year-end.
5. Anticipation of a maiden resource estimate for the Pilar Main Zone upon completion of drilling.
The company aims to showcase the project's potential and take advantage of current high gold prices through these initiatives.
Colibri Resource (TSXV: CBI) riporta che il suo partner, Tocvan Ventures (interesse del 51%), ha annunciato piani per il Progetto d'Oro e Argento Pilar in Sonora, Messico. I punti salienti includono:
1. Un programma di perforazione al nucleo nella Zona Principale di Pilar previsto per iniziare a settembre.
2. Piani per perforazioni di risorse con metodi al nucleo e RC.
3. Una strategia per un impianto pilota a Pilar, con l'obiettivo di elaborare fino a 50.000 tonnellate di materiale entro l'inizio del 2025.
4. Preparativi per 1.200 a 2.000 metri di perforazione al nucleo e 1.700 a 2.500 metri di perforazione RC prima della fine dell'anno.
5. Attesa per una prima stima delle risorse per la Zona Principale di Pilar al termine della perforazione.
La società mira a mostrare il potenziale del progetto e a sfruttare i currenti alti prezzi dell'oro attraverso queste iniziative.
Colibri Resource (TSXV: CBI) informa que su socio, Tocvan Ventures (51% de participación), ha anunciado planes para el Proyecto de Oro y Plata Pilar en Sonora, México. Los puntos clave incluyen:
1. Un programa de perforación de núcleo en la Zona Principal de Pilar programado para comenzar en septiembre.
2. Planes para perforación de recursos utilizando métodos de núcleo y RC.
3. Una estrategia para una instalación piloto en Pilar, con el objetivo de procesar hasta 50,000 toneladas de material a principios de 2025.
4. Preparativos para 1,200 a 2,000 metros de perforación de núcleo y 1,700 a 2,500 metros de perforación RC antes de fin de año.
5. Expectativa de una primera estimación de recursos para la Zona Principal de Pilar al completar la perforación.
La empresa busca mostrar el potencial del proyecto y aprovechar los altos precios actuales del oro a través de estas iniciativas.
콜리브리 리소스 (TSXV: CBI)는 자신의 파트너인 톡반 벤처스 (51% 지분)가 멕시코 소노라에 위치한 필라 금 및 은 프로젝트에 대한 계획을 발표했다고 보고했습니다. 주요 하이라이트는 다음과 같습니다:
1. 9월에 시작될 예정인 필라 주요 지역에서의 코어 드릴 프로그램.
2. 코어 및 RC 방법을 통한 자원 드릴링 계획.
3. 2025년 초까지 최대 50,000 톤의 물질을 처리할 수 있는 파일럿 시설에 대한 전략.
4. 연말까지 1,200~2,000 미터의 코어 드릴링과 1,700~2,500 미터의 RC 드릴링 준비.
5. 드릴링 완료 후 필라 주요 지역에 대한 첫 자원 추정을 기대하고 있습니다.
회사는 이들 이니셔티브를 통해 프로젝트의 잠재력을 증명하고 현재의 높은 금 가격을 활용하려고 합니다.
Colibri Resource (TSXV: CBI) informe que son partenaire, Tocvan Ventures (51 % d'intérêts), a annoncé des projets pour le Projet d'Or et d'Argent Pilar dans l'État de Sonora, au Mexique. Les points clés incluent :
1. Un programme de forage à noyau dans la Zone Principale de Pilar prévu pour commencer en septembre.
2. Des plans pour le forage de ressources avec des méthodes à noyau et RC.
3. Une stratégie pour une installation pilote à Pilar, visant à traiter jusqu'à 50 000 tonnes de matériel d'ici début 2025.
4. Des préparatifs pour 1 200 à 2 000 mètres de forage à noyau et 1 700 à 2 500 mètres de forage RC avant la fin de l'année.
5. Anticipation d'une première estimation des ressources pour la Zone Principale de Pilar à l'issue des forages.
L'entreprise vise à démontrer le potentiel du projet et à tirer parti des prix élevés actuels de l'or grâce à ces initiatives.
Colibri Resource (TSXV: CBI) berichtet, dass sein Partner, Tocvan Ventures (51% Anteil), Pläne für das Pilar Gold- und Silberprojekt in Sonora, Mexiko, angekündigt hat. Zu den wichtigsten Punkten gehören:
1. Ein Kernbohrprogramm in der Pilar Hauptzone, das für September geplant ist.
2. Pläne für Ressourcenerkundungsbohrungen mit Kern- und RC-Methoden.
3. Eine Strategie für eine Pilotanlage in Pilar, mit dem Ziel, bis Anfang 2025 bis zu 50.000 Tonnen Material zu verarbeiten.
4. Vorbereitungen für 1.200 bis 2.000 Meter Kernbohrungen und 1.700 bis 2.500 Meter RC-Bohrungen vor Jahresende.
5. Erwarten einer ersten Ressourcenschätzung für die Pilar Hauptzone nach Abschluss der Bohrungen.
Das Unternehmen strebt an, das Potenzial des Projekts zu demonstrieren und von den derzeit hohen Goldpreisen durch diese Initiativen zu profitieren.
- Planned core drill program at Pilar Main Zone starting in September
- Strategy for a pilot facility to process up to 50,000 tonnes of material by early 2025
- Preparations for extensive core and RC drilling (1,200-2,000m core, 1,700-2,500m RC) before year-end
- Anticipated maiden resource estimate for Pilar Main Zone upon completion of drilling
- Potential to capitalize on current high gold prices
- None.
Dieppe, New Brunswick--(Newsfile Corp. - August 13, 2024) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to report that the co-owner of its Pilar Gold & Silver Project in Sonora, Mexico, Tocvan Ventures (
Tocvan Pilar News Release - August 13th, 2024: (Partnership Relevant Excerpts)
Highlights:
- Upcoming Core Drill Program at Pilar Main Zone Scheduled for September Start
- Outlines Plans for Resource Drilling with Core and RC
Calgary, Alberta - August 13, 2024 - Tocvan Ventures Corp. (the "Company") is pleased to provide an update from its gold-silver projects in mine-friendly Sonora, Mexico. The Company will refer to the consolidated area that includes the Pilar Main Zone and the adjacent 22 km2 as Gran Pilar. This signifies the broader scale project size the Company is focusing on as it advances to a maiden resource at the Pilar Main Zone as well as defining large-scale targets beyond.
Based on management's strong belief in the project's potential, the Company is outlining a permitting and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the Company believes the onsite test mine will provide key economic parameters and showcase the mineral potential of the area. In 2023, the Company completed an offsite bulk sample that produced important data showcasing the potential to recover both gold and silver through a variety of methods including heap leach, gravity and agitated leach (see August 22, 2023 news release for more details).
Also, preparations are being made for the next phases of core and RC drilling that will focus on resource definition. Between 1,200 to 2,000 meters of core drilling are being considered along with 1,700 to 2,500 meters of RC drilling before the end of the year. Core drilling will focus on building a robust geological model across Pilar with emphasis on the Main Zone. RC drilling will concentrate on additional infill and step-out targeting across the Main Zone, North Hill and 4-T trends. Upon completion of drilling the Company anticipates a maiden resource estimate will be finalized for the initial Pilar Main Zone and adjacent trends providing an initial step of showcasing the full potential of the project area.
Brodie Sutherland Tocvan CEO states: "We are also preparing for the next phases of drilling which will include important core drilling through our Main Zone and other prospective trends. The last core program we completed in 2022 was a huge success, giving us a better understanding of the host rocks and the pervasive alteration and brecciation one would expect from a robust mineralized system. Drilling completed before the end of the year will go into a maiden resource estimate for Pilar, a starting point for establishing initial resources for development. Along with these preparations the Company is evaluating a pilot mine facility to process material at site. A logical step-forward as we showcase the accessibility of gold and silver whilst taking advantage of current market prices for the commodities. The Company anticipates necessary equipment setup and permitting can be completed by early 2025, with the objective of processing up to 50,000 tonnes of material directly from Pilar. A key differentiator for the Company and project. Our core objective is to unlock the potential of the greater project area while advancing mine development." "The Company maintains a positive outlook on the future of mining in Mexico and looks forward to advancing its initiatives of transitioning to producer. Taking full advantage of the excellent infrastructure and talented work force Sonora provides."
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1)
For more information about all Company projects please visit: www.colibriresource.com.
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.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274, ianmcgavney@colibriresource.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219786
FAQ
What are Tocvan Ventures' plans for the Pilar Gold & Silver Project in 2024?
How much drilling is planned for the Pilar project before the end of 2024?
What is the significance of the planned pilot facility at the Pilar project?
When does Tocvan Ventures expect to release a maiden resource estimate for the Pilar Main Zone?
