Thursday, February 15, 2007

Colibri Resource Corp. Completes Core Drilling and IP-Resistivity Survey on Colibri Gold Project, Sonora, Mexico.

Vancouver, February 15/CNW/Colibri Resource Corporation has completed a diamond drill core program and IP/Resistivity geophysical survey on the 6564 hectare Colibri site, a historic gold mining district in Sonora, Mexico. The Colibri Project is held by an option agreement to acquire 100% ownership between the Mexican subsidiary of Colibri, Minera Halcones SA de CV, and a private Mexican company. This property lies within the same metallogenic province and is on strike with the Newmont-Peñoles La Herradura open-pit mine, Mexico’s largest gold mining operation. Hecla Mining Company’s Noche Buena gold property, now undergoing final stages of open-pit feasibility study, is located ~20 km to the northwest. Exploration at Colibri focuses on a network of quartz veins where gold has been remobilized along moderately-dipping reverse faults and low-angle normal faults (detachment faults).

Thirteen drill holes totaling 2000m have yielded excellent core recovery (>90%) from three mineralized zones locally known as “San Francisco,” “Naranja,” and “Nopal.” These holes intersected multiple intervals of hematite-quartz breccia and fault gouge previously recognized to be gold-bearing from reverse circulation drilling endeavors of 1994 and 2005 (see Company Prospectus and Press Release of January 25, 2006). Britton Brothers Drilling Company of Smithers, B.C. carried out the diamond drilling. Precious metal analyses are currently backlogged in the laboratory. Colibri Corporation plans to release the drilling results in total after all assays are complete.

S .J. Geophysics, Ltd. of Delta, B. C. has finished an Induced Polarity (IP)-Resistivity survey of approximately 1050 hectares of the Colibri property. Preliminary 3-D inversion of the data reveals a strong correlation between coupled high chargeabilty-low resistivity values and down-dip projections of mineralized fault zones mapped at the surface. One intriguing buried feature unveiled by the 3-D model is a gently undulating high-chargeability anomaly extending southeastward from low-angle detachment faults mapped near the Naranja zone. This ~3 km2 anomaly, coupled with low-resistivity material, underlies a broad zone of locally-derived placer deposits. Its thickness varies from 200m to 300m, and the top occurs at depths between 50m and 300m. The anomaly extends eastward beneath valley-fill cover sediments to the edge of the surveyed area. Future drilling will target this significant geophysical feature.

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