Category: Exploration and Development

“With significant step-outs and successful results to date, the drill program is going a long way in expanding the resource El Dorado which is still open in several directions. We look forward to incorporating these results and the on-going drilling into a new resource estimate at El Dorado. This bodes well as we continue to move the Las Minas project towards a preliminary economic assessment study in early 2021,” stated Philip O’Neill, Chief Executive Officer.

“The drilling that took place in 2017 and 2018 confirmed the widespread nature of the surface cropping disseminated gold mineralization throughout the Cerro de Oro project area. Mineralization was present in almost every hole beginning from near surface and remaining open for additional testing at depth,” stated Darren Koningen, CEO.

Derek Wood, CEO, commented “I am extremely pleased with the progress Tocvan Ventures has made in just over 18 months from completing it’s initial public offering. Tocvan negotiated and agreement with Colibri Resources Corp CBI-V less then one year ago. Since then the company has managed to de risk the project to a drill ready stage, while discovering new targets at surface and below areas of known mineralization.

Ranjeet Sundher, President and CEO, remarks “Significant values include 160 g/t silver across 7 m at Garabato, and 21.3 g/t Au across 1 meter at El Pino. Further work including trenching and soil sampling followed by drilling is clearly warranted.”

J. Duane Poliquin, Chairman of Almaden, stated, “We believe that with the Ixtaca discovery, we identified a new epithermal district in Mexico. We are excited to return to early stage discovery efforts on this property. It will also be gratifying to work once again with members of the local communities as field activities will again provide some local employment opportunities as they ramp up over time, opportunities which are sorely needed in the area.”

Taj Singh, President and CEO, states: “Hole C20-343 returned one of the best-ever intercepts at Cordero. The fact that it came from the South Corridor, an area of the deposit that has seen significantly less drilling, is even more encouraging.”

Pete Dougherty, President and CEO stated: “When you consider the value of Alio Gold when we announced the at-market merger less than six months ago, you can begin to recognize the tremendous value-creation opportunity Argonaut’s board and management saw at the time of the merger. The proceeds of this transaction support Argonaut’s focus on the development of our Magino gold project in Ontario, Canada by providing upfront capital while still providing Argonaut shareholders with upside participation in the Ana Paula Project through Argonaut’s equity ownership in the Resulting Issuer, a contingent payment upon a construction announcement and a royalty.”

“These are very exciting and busy times for Colibri and its shareholders.” says Ian McGavney COO of Colibri. “In addition to the on-going exploration at the Evelyn Gold Project, which is being completed in preparation for a fall drill program, our option partners Tocvan Ventures and Silver Spruce Resources are also advancing the Pilar and El Mezquite projects respectively. Both companies are also working towards completing drill programs this fall.”