| February 05, 2009 Attention Business Editors: Colibri delineates two prospective new gold targets on the Colibri Project, Sonora, Mexico | |
| TSX: CBI VANCOUVER, Feb. 5 /CNW/ - Colibri Resource Corporation is pleased to announce results of geological mapping, rock chip sampling and soil sampling from its flagship Colibri Property in Sonora, Mexico. This work from previously unexplored areas delineates two prospective new gold targets. Details of the mapping, sample locations and assays may be viewed at www.colibriresource.com. Tortuga Zone: The newly recognized Tortuga Zone encompasses a 1500m x 1200m area of fractured and altered Jurassic rhyolite porphyry and high level felsic intrusives situated in the hanging wall of a regional thrust. Throughout the zone are numerous northwest-elongate belts of intense hematite-silica alteration characterized by 5cm to 80 cm quartz veins in silica-flooded and quartz stockwork veined rhyolite and fine-grained intrusive rock. Alteration appears to be best developed where steeply northeast-dipping veins are intersected by shallow north-dipping veins. Directly north of the Colibri property boundary, a cluster of old mine workings exploit a group of sheeted quartz veins that strike south into the Tortuga zone. Rock-chip samples were systematically collected from outcrops of vein quartz and altered rhyolite country rock. The composite average of all 75 samples is 1295 ppb (1.30 g/mt) Au. The average of the 33 quartz veins sampled is 2258 ppb (2.26 g/mt) Au, with nine assays exceeding 1 g/mt Au, and one vein assaying 33.8 g/mt Au. Forty two samples taken from silicified and hematized rhyolite averaged 538 ppb (0.54 g/mt) Au. Details of sample descriptions and locations are tabulated at www.colibriresource.com. A soil sample grid reveals several anomalies of greater than 200m breadth where gold in soil assays exceed 50 ppb. These anomalies are centered on locations where multiple rock-chip samples yield assays greater than 500 ppb (0.5 g/mt) Au, and generally correspond to broader areas rich in quartz-hematite float. The northernmost soil anomaly is on projection with the old mine workings described above. Several prospective drill targets are presented where intersecting high-angle and low-angle quartz vein structures coincide with intensely altered or stockworked rhyolite country rock and gold in soil anomalies. Soil and rock sampling are ongoing. Company geologists are strongly encouraged by this style of surface mineralization. Gold is associated with fine, dense quartz stockworks and silica flooding in volcanic and intrusive hosts, similar to several other bulk tonnage mines in operation in the state of Sonora. Southeast Extension of Naranja Zone: The Southeast Extension Zone encompasses a poorly exposed 400m x 350m area on strike with the mineralized Naranja Zone drilled by Colibri during Spring of 2008 (see November 12, 2008 News Release). Three areas of outcrop were mapped that apparently represent the southeastern projection of the Naranja detachment fault and its displaced hanging wall. A total of 18 rock-chip samples collected from these areas yielded assays with a composite average of 3205 ppb (3.21 g/mt) Au (see www.colibriresource.com). The detachment fault is best exposed along the east side of a small arroyo, where a 100m x 5m outcrop of hematized volcanic breccia contains mineralized quartz vein fragments. This breccia zone was exploited in the past by several prospect pits, two of which exceed 3 m depth. Two chip samples of breccia containing hematized andesite and scattered quartz fragments assayed 2.82 g/mt Au and 11.86 g/mt Au. A third sample consisting entirely of quartz breccia fragments, assayed 3.20 g/mt Au. The breccia zone displays caliche-filled faults with gentle east dips and steep west dips. 250m to the east, a network of northwest and north-striking quartz veins with widths of 30cm to 2m crops out in the inferred hanging wall of the breccia zone. These veins are cut by low-angle fault surfaces that dip both east and west. One sample collected from quartz vein outcrop assayed 8.05 g/mt Au. Another sample taken from a prospect dump in the center of the vein outcroppings assayed 21.07 g/mt Au. Five additional samples collected from this zone of quartz veins and oxidized country rock yielded assays exceeding 100 ppb (0.1 g/mt) Au. Two hundred meters north of the main breccia zone, a shallow prospect pit exposes silicified and hematized diorite cut by shallow-dipping caliche-filled shear planes. Two samples collected from an adjacent prospect dump assayed 6.64 g/ mt Au and 1.50 g/mt Au, respectively. A 1 m chip sample taken across the outcrop zone of caliche faults yielded an assay of 165 ppb (0.17 g/mt) Au. Extensive areas of oxidized subcrop surrounding the three areas described above have yet to be sampled. Corporate Update Colibri has continued to complete field investigation work at its Colibri claim site during the past four months including geological mapping, chip and soil grid sampling. We have made the decision to suspend all diamond core and reverse circulation drilling at any of our three claim sites in an effort to conserve cash during these difficult economic times for Junior, TSX-Venture companies. Although our recent stock price doesn't even reflect the amount of cash in the company, over 1.5 million dollars, we have budgeted our operations to ensure we have enough cash to be a going concern until such time additional funds can be secured in the market place. A claim to recover IVA taxes from the Mexican government has been submitted for over $200,000. When these funds are recovered, we have identified drill targets on the Colibri property for our low cost percussion rig. Some field work with soil/chip sampling may take place on our other two claim sites. We invite readers of this press release to return to our website and reacquaint themselves with the results of past investigative efforts at our three sites and the significant discoveries Colibri has made to date. Summary Colibri Resource Corporation is encouraged by the sample results from these two new prospect areas. Follow-up soil sampling and geological mapping is ongoing, with the intent of defining specific drill targets. ------------------------------------------------------------------------- Rock chip and soil samples were prepared at Inspectorate Lab in Hermosillo. Analyses were performed by Inspectorate Lab in Reno, Nevada. Gold contents were measured by fire assay with AA finish. Over limit values for gold were determined by fire assay with gravimetric finish. Exploration was conducted under the supervision of J.J. Irwin, B.Sc., Ph.D., the qualified person under National Instrument 43-101 on this project. The Colibri Project is held by an option agreement between the Mexican subsidiary of Colibri, Minera Halcones SA de CV and a private Mexican company to acquire 100% ownership of 6,564 hectares of mineral concessions. << The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. >> %SEDAR: 00021936E /For further information: visit our website at www.colibriresource.com or call Lance Geselbracht, P.E., (250) 755-7871/ (CBI.) CO: Colibri Resource Corporation CNW 09:00e 05-FEB-09 | |
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