Colibri and Tocvan Form JV for Pilar Project

Colibri Resource (TSE:CBI) has released an update.

Colibri Resource Corporation will maintain a 49% stake in the Pilar Gold and Silver Project in Sonora, Mexico, as Tocvan Ventures Corp. has decided not to pursue its Right of First Refusal. The companies are set to enter into a joint venture to move the project forward, with Colibri optimistic about Pilar’s prospects, including its potential as a future low-cost gold producer.

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