VANCOUVER (miningweekly.com) – Mexico-focused exploration junior Colibri Resource Corporation plans to extend three tranches of reverse-circulation drilling over 10 000 m at its newly acquired Pilar gold project, in Sonora state.
To manage the expanded exploration campaign, the company has enlisted the services of well-regarded geologist Pierre Jean Lafleur, to undertake three-dimensional (3D) hole plottings of pre-drilling and drilling services.
Calibri said on Wednesday that access to the 100%-owned gold/silver project is considered good, and it is unencumbered by net smelter return royalties or other handicaps. Colibri also has a "friendly" surface rights agreement that has been signed with Suaqui Grande locals.
The company's country manager and geologist Jackie Stephens has worked extensively in the Suaqui Grande area for the past decade and has a cordial relationship with many locals who are supportive of mining possibilities in their area, the company reported. Stephens will be managing the 10 000 m of drilling campaign.
Colibri said the extended programme would start drilling by extending the known ‘main mineral’ gold zone, looking carefully at all the previous 3D hole-plots. The goal is to plot at least four optimised drill targets, including two highly anomalous geophysical chargeability/resistivity anomalies, where the company expects to encounter high values of pyrite and an association with gold, high chargeabilities, and possibly high gold values with silicification, caused by high resistivities.
Dieppe, New Brunswick-based Colibri on August 9 announced that it had successfully completed the acquisition of Canadian Gold Resources from ONTOP Capital, for $4-million. The transaction resulted in John Schiavi owning a 24% stake in Colibri, with Colibri director Ronald Goguen holding more than 19% of the company.
Pilar has been subject to two previous exploration drives, but no mineral resource estimates have yet been compiled.