Colibri Resource Corporation names Ronald Goguen Sr. to the Board of Directors and provides update on activities
Since leaving Major Drilling in 2000, Ron has served as the President of Royal Oaks Real Estates Inc. and Royal Oaks Golf & Country Club. He has been a member of the Board of Directors of Northeast Bank since 1990. During 2006 Ron was appointed Chairman of the Board for Beaver Brook Antimony Mine Inc., and he remained so until bringing this operation into production during early 2008. Beaver Brook is the largest antimony mine outside of China. Now that this company is operating, management has been put in place to carry on its operation and Ron remains one of its Directors. During 1995 Ron was named Atlantic Canada's Entrepreneur of the year as presented by Governor General of Canada.
Colibri continues to advance its core exploration projects, located in the State of Sonora, Mexico, with field mapping, chip sampling and administrative matters. Ongoing mapping on the Colibri claim, an oxide gold project, (6564 hectares of claims) in the prolific Herradura --El Chanate Megashear belt, has expanded the area of known mineralization and extent of large scale low angle fault structures typical of this class of ore deposit. The project now presents greater than 20 kilometers of length of low angle fault structures in two belts trending southeast-northwest across the entire area. Recent exploration has focused on the Naranja Zone in the south and the Tortuga-Diente zones in the north (see updated map posted at www.colibriresourcecorp.com ) Within these zones, 415 rock chip samples collected over a 6.5 square kilometer area have returned values up to 35 grams/tonne Au. 340 of these samples returned assays of greater than 10 ppb Au. The aggregate average of the 340 anomalous rock chip samples is 0.87 grams/tonne Au.
On the Leon Project, geological mapping has identified the same rock types and style of mineralization within the company claim package (6600 hectares) that are described within the El Creston ore body on the adjacent Creston Moly Corporation claim (www.crestonmoly.com). The Main Zone within the Creston claim contains 249,948,000 pounds of molybdenum in a NI 43-101 compliant proven and probable mineral reserve.
Within the Leon claim occur Precambrian granites (the Creston granite) and associated Early Tertiary porphyries that are believed to be the same units described as hosts of the Creston ore body, located approximately 2 km to the east of the contiguous claim boundary. Two generations of normal faults separate the Creston ore body from the Leon claim package: an earlier generation of shallow, northeast-dipping low angle detachment faults, the Gemini and Creston faults, both of which are cut by the "Puerto Creston" high angle fault and a related family of southwest-dipping faults. Reconstruction of fault movements using a Precambrian quartzite marker unit places the Creston ore body above similar mineralized rock formations on the Leon Project at the time of mineralization (~54 Ma; see Barra et al., 2005). Prior drilling on the Leon Project (see August 25, 2008 and June 11, 2008 news releases) revealed intercepts of molybdenum of substantially higher grades and nearer to the surface than the Creston Moly ore body. Highlights include 72 meters of 0.195 % Mo between 22m and 94 meters depth in LEDH18, plus 72 meters of 0.120 % Mo between 0 and 72m depth in LEDH17.
The company has received from INDABBIN (the Mexican National Instituto de Adminastracion y Evaluo de Bienes Nacionales) an official government evaluation of the land owned by a rancher that covers a large part of the Ramard Project. Current rental valuation is 192.81 pesos per hectare per year, approximately Cdn $15.6 dollars per hectare per year. This is the price the company would be expected to pay this rancher for access to the ranch for mineral exploration and exploitation purposes as dictated by Mexican laws. This valuation is an important administrative step in the legal process to obtain long term access to ranchland.
"After attending the recent Roundup in Vancouver and speaking with many professionals associated with our industry, I am very optimistic that now is the time to move ahead with our projects because of the ability to finance exploration work" said Lance Geselbracht, P.E., President of Colibri. We announced almost a year ago that we would conserve cash while completing field work on our properties, but no drilling. This has left us in a position to consider various scenarios including partnering options and drilling/exploration programs. "I am excited that Ron Goguen has decided to join our Board, his incredible breadth of experience with mineral exploration and corporate management will prove very valuable as we move forward."
Colibri advises that 450,000 incentives stock options have been granted to directors and officers of the company. The options are exercisable at 8 cents per share for a period of five years, subject to regulatory approval, and will expire on January 31, 2015.
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.
For further information
Visit our website at www.colibriresourcecorp.com or call Lance Geselbracht, P.E., and (250) 755-7871
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
Colibri expands surface sampling on the Colibri gold project and begins exploration of recently acquired Evelyn claim
Tortuga and Diente Zones
Two zones referred to as "La Tortuga" and "El Diente" present areas of extensive surface gold mineralization associated with pervasive hematite-sericite-silica alteration and gold-in-soil anomalies. The predominant host rock is Jurassic rhyolite porphyry that forms a northwest-elongate block sandwiched between two NE-dipping Laramide thrust faults. 113 samples taken from representative outcrops of altered rock and vein quartz have returned assays between 0.25 to 35 g/ton Au.
Gold concentrations in soils are strongly anomalous over an area covering more than 2 square kilometres in the upper plate of the westernmost thrust. Host rocks include high level felsic intrusives cut by multiple generations of fine-grained silica veinlets and quartz veins. Mapping and rock sampling identified a series of NE and NW trending, steeply dipping fault structures associated with iron oxide and sericite alteration. Rock chip samples from hematized quartz veins returned multiple assays in excess of 1 g/ton Au, while broad zones of sericitized wall rocks and cut by very fine quartz veinlets and hematite and/or limonite fractures generally returned assays greater than 100 ppb Au. The most promising drill targets identified so far occur at or near the intersection of low-angle and high-angle structures. One such target is an area of particularly intense silicification and brecciation that coincides with the biggest identified soil anomaly: a triangular 200 m x 200 m region with gold-in-soil values >75 ppb Au and locally exceeding 200 ppb Au.
Strongly anomalous concentrations of silver, copper, lead and zinc occur in soils developed on the andesite hanging wall of the eastern boundary thrust, thought to represent deeper crustal levels associated with porphyry-style mineralization. The thrust zone contains numerous sheared quartz veins associated with limonite and hematite alteration. Several small prospect pits exploit this thrust; representative rock chip samples returned assays between 0.31 and 2.60 g/ton Au.
Naranja Zone
Soil sampling is also expanded to include the southeast extension of the Naranja zone, where gold concentrations in excess of 5 g/ton were previously reported from grab samples and old mine workings in this area (see February 5, 2009 news release). Strongly anomalous gold-in-soils occur in a northwesterly belt more than one hundred meters wide and approximately 1 km long that follows the projected surface trace of a combined thrust/detachment fault system. Colibri is strongly encouraged by these results considering the correlation between gold in soils and follow-up rock sampling in the Tortuga-Diente zones. The most anomalous soils containing greater than 100 ppb gold occur within a zone of very little outcrop and no surface expression of mineralization directly along strike and adjacent to artesanal mine workings that returned multiple grams/ton gold in grab and chip samples. Ten rock samples to date have assayed greater than 1.5 g/ton Au.
Evelyn Claim
Colibri Resource Corporation is now the 100% owner of a new property (the Evelyn III claim), acquired in a Mexican government "sorteo" (claim lottery). This 506.3 hectare claim is located 29 km east of La Herradura (Mexico's largest gold mine, operated jointly by Fresnillo and Newmont Mining Corporation) and 10 km north of the Noche Buena property (currently owned by Fresnillo). The Evelyn claim encompasses old hard rock and placer mine workings developed in sheared and fractured Jurassic volcanic and sedimentary rocks. Preliminary geologic mapping and rock chip sampling has identified a northeast-trending structure, exploited by an old mine working, that corresponds to a sheared quartz-rich sandstone layer. Thirteen samples of sheared quartz veins and hematized sandstone wall rock collected along a strike length of 110 m returned assays between 0.13 g/ton Au and 26.06 g/ton Au. The composite average of these 13 samples is 9.18 g/ton Au. Exploration will be aimed at locating extensions of this high-grade zone in poorly exposed areas to the south and north.
Corporate Update
Colibri has continued to make progress on important business issues for the company. The Board of Directors has authorized the execution and completion of the three claim option agreements between Colibri's Mexican subsidiary, Minera Halcones, and the three private Mexican companies from which those claims were optioned. It is estimated that less than $100,000 will be required to finalize the agreements and allow Minera Halcones to hold the mining rights to the individual claim blocks that comprise the three claim sites known as "Colibri", "Ramard", and "Leon". Colibri currently has approximately $1.3 million in cash and is in the process of trying to recover IVA taxes from the Mexican government. The Company did not conduct any drilling this past winter in an effort to conserve cash, but there was some important field work completed as discussed above. Colibri is well positioned to participate in the ongoing rebound of metal prices and the availability of capital for exploration.
Colibri has decided not to continue making option payments for the Juarez and San Francisco claims contained within the Colibri claim. The relatively small size of these claims (36 hectares each, an insignificant fraction of the 6,500 hectare project) did not warrant the cost of finalizing the option agreements.
Title to the Evelyn III claim has been received, (see description above). The title was initially issued in the name of an agent working for Colibri. The legal procedure required to reissue title in the name of Minera Halcones (the Mexican subsidiary of Colibri) has been completed and the necessary documentation forwarded to the Direccion de Minas in Mexico City. Transfer of title is a legal formality.
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., P.Geo., 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.
For further information
Visit our website at www.colibriresource.com or call Lance Geselbracht, P.E., (250) 755-7871
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
Attention Business Editors: Colibri delineates two prospective new gold targets on the Colibri Project, Sonora, Mexico
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.
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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.
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
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%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
Colibri Intersects Disseminated Gold Mineralization in Reverse Circulation and Percussion Drilling on the Colibri Project, Sonora, Mexico
Colibri Resource Corporation has received assay results from an 11 hole (C08 series) 2,346 meter reverse circulation (RC) drilling program for its Colibri Project, Sonora Mexico. These initial targets were further investigated by an additional 1,161 meters of air-track percussion drilling completed within 33 percussion holes (NAPD series).
Two areas were drill tested which included the Naranja Zone and the San Francisco mine area. A drill map and complete list of hole locations and assay results are available at http://www.colibriresource.com/s/Colibri.asp
Drilling was targeted across several northwest-southeast trending structures associated with broad intervals of highly sheared and fractured rock. Host rocks consist of hematite-flooded breccias commonly accompanied by broken gouge material with quartz veins and stockwork. Sample recovery was generally good to excellent.
Evidence of past gold production along the faulted zones is preserved in shallow placer gold pits and by numerous underground shafts and tunnels.
Naranja Zone:
Reverse Circulation Drilling
Drilling highlights from 2008 include 1.41 g/mt Au (1410 ppb Au) over 2.0 meters between 172 and 174 meters depth in C08-09 within an anomalous 8.0 meter interval which assayed 455.5 ppb Au between 170 and 178 meters.
C08-05 contains 2.0 meters of 1.35 g/mt Au (1350 ppb Au) between 62 and 64 meters within a
4 meter section that assayed 1158.0 ppb Au from 60 to 64 meters. C08-05 and CO8-09 are approximately 500 meters apart and may intersect different structural levels within the same fault system.
C08-08 was collared about 250 meters off-section to the south of C08-05 and C08-09 and assayed 214.0 ppb Au over 2.0 meters between 34 to 36 meters within a broad 20 meter section from 34 to 54 meters that assayed 127.0 ppb Au.
Percussion Drilling
Drilling targeted the strike extension of the San Francisco gold system about 1 kilometer southeast at the Naranja detachment zone and resistivity-chargeability anomaly interface (2006 IP survey). Some of the resistivity anomalies measured along these east dipping, listric fault zones coincide with gold mineralization.
NAPD-14 assayed 18.2 g/mt Au (18,200 ppb Au) over 1.5 meters between 15.0 to 16.5 meters.
NAPD-25 cut a 12.0 m interval starting at surface down to 12.0 meters that averaged 373.5 ppb Au. Within the 4.5 meter section from 1.5 to 6.0 meters was a sub-interval of 579.0 ppb Au while the 1.5 meter section from 1.5 to 3.0 meters contained 781.0 ppb Au. This hole is situated 45 meters southeast of the 18.2 gm/t Au interval of gold mineralization reported from NAPD-14. (See November 2008 - Colibri Project - Drill Section at http://www.colibriresource.com/s/Colibri.asp).
NAPD-28 assayed 638.0 ppb Au over 1.5 meters between 6.0 and 7.5 meters within a more extensive 13.5 meter zone from 1.5 to 15.0 meters that averaged 177.1 ppb Au. A continuous 6.0 meter zone in NAPD-32 was intersected between 24.0 and 30.0 meters which assayed
305.3 ppb Au. These two holes are situated about 260 meters apart on opposite sides of a large detachment structure. A chargeability anomaly is located approximately 200-300 m east of this structural zone and is coincident with dry placer gold pits.
San Francisco Mine Area:
Prior drilling at the San Francisco Mine intersected multiple gold intercepts over a range from 0.3 to 10.1 g/t Au and have been previously reported. (See Colibri News Releases of January 25, 2006 and August 13, 2007).
Four new RC holes with vertical orientations (C08 series) have targeted these structures.
Reverse Circulation Drilling
C08-01 cut multiple mineralized intervals over 22 meters from 186 to 208 meters that assayed 196.1 ppb Au including a 6 meter length between 192 and 198 meters that returned 395.7 ppb Au. Below this upper zone is a 2 m wide mineralized interval from 206 to 208 meters which returned 512.0 ppb Au.
C08-02 contained 4 meters of 224.0 ppb Au between 118 and 122 meters. An additional 4 meter zone below this upper zone from 198 and 202 meters contained 624.5 ppb Au. Within this lower zone was a shorter 2 meter section from 198 to 200 meters that assayed 959.0 ppb Au.
C08-03 intersected a continuous 20 meter section between 102 to 122 meters that assayed 258.5 ppb Au including a 4 meter section from 106.0 to 110.0 meters that reached 598.0 ppb Au. An additional 2 meter section assayed 714.0 ppb Au from 106 to 108 meters.
C08-04 successfully penetrated the deeper shear zones untested in 2007 and cut multiple mineralized intervals about a central a 2 meter interval (106 to 108 meters) that assayed 714.0 ppb Au. Additional zones of gold enrichment included 261.0 ppb Au over 2.0 m from 54.0 to 56.0 meters. This section was surrounded by a moderately anomalous but more extensive interval across 30 m between 34 to 64 meters assaying 64.8 ppb Au. At the base of C08-04 a 6 meter interval from 122 to 128 meters returned 131.7 ppb Au.
Discussion
Nugget or Coarse Gold Problem
Assay results from 2008 percussion and reverse circulation drilling at Naranja and San Francisco show a wide range of gold values from 25 ppb Au to 18.2 grams per metric tonne Au. Although higher grade gold values such as these are considered positive, drill assays that include 18.2 g/mt Au (NAPD-14 - 15.0 to 16.5 meters), 1.41 g/mt Au (C08-09 -172 and 174 meters) and 1.35 g/mt Au (C08-05 - 62 and 64 meters) are not continuous.
Colibri Resource Corp. has described this 'nugget problem' previously (see News Release, August 13, 2007 Colibri Project) demonstrating that conventional analysis (based on screening for the less than 150 sieve mesh or 'fine' sample size) systematically understates gold content for samples containing coarse gold grains or 'nuggets'.
Based on this past experience, Colibri is reviewing the 2008 analytical results from both percussion and reverse circulation drill programs. Any drill samples with suspected nugget characteristics will be re-sampled and re-assayed using coarse (greater than 150 sieve mesh) sample fraction.
Summary and Conclusions
Colibri Resource Corporation is encouraged by results from the 2008 drilling program.
The pattern of multiple intervals of anomalous gold mineralization found in the San Francisco mine area in 2005 and 2006 has been confirmed to continue for 2 km to the southeast along strike to the Naranja Zone.
Reverse circulation drilling was conducted by Layne de Mexico. Reverse circulation and percussion samples were split on site and delivered to Hermosillo and processed by Sonora Sample Preparation Lab.
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.
Drill core and drill chip analyses were performed by International Plasma Labs in Vancouver, British Columbia. Gold contents were measured by fire assay with AA finish and silver by the ICP method. Over limit values for gold were determined by fire assay with gravimetric finish.
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.
For further information
Visit our website at http://www.colibriresource.com or call Lance Geselbracht, P.E., (250) 755-7871
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
Gold/Silver Assays - Summary
| Hole ++ | From | To | Interval in Meters | Au in PPB | Au in g/mt | Ag in PPM |
| C08-01 | 186 | 208 | 22 | 196.1 | ||
| 192 | 198 | 6 | 395.7 | |||
| 206 | 208 | 2 | 512.0 | |||
| EOH 258 | ||||||
| C08-02 | 118 | 122 | 4 | 224.0 | 3.8 | |
| 198 | 202 | 4 | 624.5 | |||
| 198 | 200 | 2 | 959.0 | |||
| EOH 252 | ||||||
| C08-03 | 102 | 122 | 20 | 258.5 | ||
| 106 | 110 | 4 | 598.0 | 5.7 | ||
| 106 | 108 | 2 | 714.0 | 6.8 | ||
| EOH 240 | ||||||
| C08-04 | 34 | 64 | 30 | 64.8 | ||
| 54 | 56 | 2 | 261.0 | |||
| 106 | 108 | 2 | 714.0 | |||
| 122 | 128 | 6 | 131.7 | 1.0 | ||
| EOH 256 | ||||||
| C08-05 | 18 | 20 | 2 | 391.0 | ||
| 60 | 64 | 4 | 1158.0 | |||
| 62 | 64 | 2 | 1337.0 | 1.35 (1350.0) ** | ||
| EOH 232 | ||||||
| C08-08 | 34 | 54 | 20 | 127.0 | ||
| 34 | 36 | 2 | 214.0 | |||
| EOH 192 | ||||||
| C08-09 | 170 | 178 | 8 | 455.5 | ||
| 172 | 174 | 2 | 1479.0 | 1.41 (1410.0) ** | ||
| EOH 182 | ||||||
| NAPD-14 | 15 | 16.5 | 1.5 | 17925.0 | 18.20 (18200.0) ** | |
| EOH 36.0 | ||||||
| NAPD-25 | 0 | 12.0 | 12.0 | 373.5 | ||
| 1.5 | 6.0 | 4.5 | 579.0 | |||
| 1.5 | 3 | 1.5 | 781.0 | |||
| EOH 48.0 | ||||||
| NAPD-28 | 1.5 | 15 | 13.5 | 177.1 | ||
| 6 | 7.5 | 1.5 | 638.0 | |||
| EOH 48.0 | ||||||
| NAPD-32 | 24.0 | 30.0 | 6.0 | 305.3 | ||
| EOH 40.5 |
EOH - End depth of drill hole in meters
++ All 2008 RC/Percussion Drill Holes collars inclined -90° and azimuth 000.
** Replicate fire assay with gravimetric finish in g/mt (with ppb conversion in brackets) to be included in coarse gold evaluation program.
670 - Bold face text indicates Au values exceeding 300 ppb
View News Release in PDF Format:
| File: | http://www.colibriresourcecorp.com/i/pdf/2008-11-12_NR.pdf |
| 44 KB, approx. 9 seconds at 56.6Kbps |
CORRECTION FROM SOURCE-Colibri Resource Corp.: Percussion Drilling
The correct release follows:
Colibri percussion drilling confirms and expands high grade molybdenum on Leon Project, core check assays show rhenium concentrations up to 2,530 ppb intersected over 2.0 m.
VANCOUVER, August 25 /CNW/ -Colibri Resource Corporation is pleased to report results of new percussion drilling and analyses of rhenium from core samples previously reported on the Leon Project, Sonora, Mexico.
Azul Zone Drill Highlights:
Core results for the Azul Zone were previously reported (June 11, 2008) for LEDH18 (72 meters of 0.195 % Mo between 22 and 94 m) and LEDH17 (72 meters of 0.120 % Mo between 0 and 72m). Ten percussion drill holes have extended known mineralization to greater than 250 meters in strike length and a minimum width of 120 meters. Mineralization is open along strike to the east and west and down dip to a known depth of at least 130 m. Multiple stages of mineralization are observed in drill core including high grade Mo-bearing quartz veins and stockwork. Correlations between high grade intervals in core and percussion drilling suggest a near east-west trend and dominantly steeply north-dipping orientation.
Percussion drill holes LEPD84 and LEPD85 were collared 40 meters to the west of core holes LEDH17 and 18. LEPD85 intersected 15m of 0.183% Mo between 15 and 30m, including 3m of 0.56% Mo between 15 and 18 meters depth. This hole ended at 30m depth in 0.280% Mo, 0.228% Cu. LEPD84 intersected 0.03% Mo over 18m between 7.5 and 25.5m, ending in 0.037% Mo.
Percussion holes LEPD87 and LEPD88 were collared 54 meters east of core holes LEDH17 and 18. LEPD87, directed due north at -45 degrees, averaged 0.12% Mo over its entire 39 meter length, including 3 meters of 0.66% Mo between 16.5 and 19.5 meters depth, ending in 0.033% Mo. LEPD88, directed at azimuth 135 degrees at -45 degrees, averaged 0.203% Mo between 0 and 33 meters depth including 4.5 meters of 0.659% Mo between 22.0 and 27.0 meters.
LEPD89, collared 102 meters east of core holes LEDH17 and 18, intersected disseminated Mo averaging 0.065% over the entire 42 meter length of hole, including 0.091% Mo between 15 and 42 meters. LEPD90, collared 142m east of LEDH17 and 18, averaged 0.051% Mo between surface and 22.5m, including 3m of 0.191% Mo between 13.5 and 16.5 meters. LEPD 91, collared 126 meters southeast of LEDH17 and 18, cut 25.5 m of 0.078% Mo between 16.5 and 42m, ending in 0.085% Mo and including 1.5m of 0.24% Mo, 0.093% Cu between 24 and 25.5m.
Fortuna Zone Drill Highlights:
The Fortuna Zone, a historic underground mine working along a moderately south-dipping structure, was previously tested by core hole LEDH19. Nine percussion drill holes on the footwall of the Fortuna Zone expanded the known extent of mineralization 150 meters to the northeast. LEPD77 cut 1.5 meters of 0.242% Mo between 1.5 and 3.0 m depth. LEPD81 cut 7.5 meters of 0.133% Mo between 6 and 13.5 meters, and LEPD83 averaged 0.022% Mo over 30 meters, the entire length of the hole. LEPD78 ended in 1.5 m of 0.177% Mo between 28.5 and 30.0 meters.
Rhenium Analyses:
Rhenium check analyses of core from LEDH-16, LEDH-17 and LEDH-18 were performed by Activation Laboratories Ltd. Ancaster Ontario utilizing a 56 element ICP-MS scan with a detection limit of 1 ppb Re.
Selected 2.0 m intervals of high grade Mo-bearing quartz veins and stockwork from Azul Zone core holes LEDH16, LEDH-17 and LEDH-18 were submitted for rhenium analysis. 21 of these samples returned assays greater than 200 ppb Re, with 4 samples greater than 800 ppb Re along core lengths of 2.0 m. Core hole LEDH18 yielded the two highest rhenium intervals: 2,530 ppb Re (2.53 ppm) between 26.0 and 28.0m, and 1,500 ppb Re (1.5 ppm) from 38.0 to 40.0m depth.
Exploration Notes:
All 19 percussion holes ended in anomalous Mo, greater than 35 ppm, LEPD85 ending in 0.280% Mo, LEPD78 in 0.177% Mo.
Less than half of the gridded surface area with soil samples containing greater than 500 ppm copper and 50 ppm molybdenum, (and ancillary anomalous gold and silver), has been targeted by drilling. Much of the remainder of the project area remains unmapped and unsampled, and further work is in progress.
The lithologies and style of mineralization cut by drill core resemble those of the Creston molybdenum deposit located 3.5 kilometers to the northeast of hole LEDH19 (see www.crestonmoly.com). The Leon Project is believed to contain part of the same porphyry system, displaced along a network of low-angle normal faults (see www.colibriresource.com). The Leon 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 5,800 hectares of mineral concessions. The Project is located near the center of the State of Sonora, Mexico, at an altitude of approximately 1000 meters above sea level, accessed by gravel roads in an area of moderate topographic relief and logistics favorable for mine exploration and development.
NQ-sized diamond drill core samples were provided by Landdrill International SA de CV. Core samples were cut in half with one portion submitted for assay and the remainder retained as reference.
Percussion drilling was conducted from a track mounted vehicle using a surface air driven hammer with a 2.25 inch wide bit and associated compressor. Samples are typically 5 kg of rock chips over 1.5 m intervals. Samples were split on site and delivered to Sonora Sample Preparation Lab in Hermosillo, Sonora, and analyzed using standard ICP by International Plasma Labs in Vancouver, British Columbia.
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.
For further information
Visit our website at www.colibriresource.com or call Lance Geselbracht, P.E., (250) 755-7871
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Core Drilling Results - Azul and Fortuna Zones**
| Location | Hole | From | To | Interval | Mo % | Cu % | Rhenium PPB |
| Azul | LEDH15 | 0m | 290.2m EOH | 290.2m | 0.025% | 0.047% | NA++ |
| includes | 18.6m | 56m | 37.4m | 0.051% | 0.036% | NA++ | |
| 158m | 189m | 31m | 0.041% | 0.091% | NA++ | ||
| 240.55m | 251.35m | 10.8m | 0.121% | 0.116% | NA++ | ||
| Azul | LEDH16 | 0 | 268m EOH | 268m | 0.052% | <100ppm | -- |
| 90m | 250m | 160m | 0.066% | 0.015% | 59 ppb Re | ||
| 152m | 201m | 49m | 0.093% | <100ppm | 97 ppb Re | ||
| 146.0m | 268.0m | 122.0m | 0.076% | <100ppm | 66 ppb Re | ||
| 152.0m | 156.3m | 4.3m | 0.418% | <100ppm | 585 ppb Re | ||
| 154.3m | 156.3m | 2.0m | 0.640% | <100ppm | 952 ppb Re | ||
| 216.4m | 220.0m | 3.6m | 0.415% | 0.030% | 421 ppb Re | ||
| Azul | LEDH17 | 0 | 145m EOH | 145m | 0.062% | <100ppm | 69 ppb Re |
| 0 | 72m | 72m | 0.120% | -- | |||
| 23 | 72m | 49m | 0.165% | -- | |||
| 23.2m | 72.0m | 48.8m | 0.159% | <100ppm | 176 ppb Re | ||
| 23.2m | 25.0m | 1.8m | 1.012% | <100ppm | 1110 ppb Re | ||
| 36.0m | 38.0m | 2.0m | 0.841% | 113ppm | 868 ppb Re | ||
| Azul | LEDH18 | 0 | 211.0m EOH | 211m | 0.0818% | <100pm | -- |
| 2.02m | 157.0m | 135m | 0.119% | 146ppm | -- | ||
| 22.0m | 126.0m | 104m | 0.154% | 139ppm | 149 ppb Re | ||
| 22.0m | 94.0m | 72m | 0.180% | 166ppm | 189 ppb | ||
| 26.0m | 28.0m | 2m | 2.25% | <100pm | 2530 ppb Re | ||
| 38.0 | 40.0 | 2m | 1.68% | 106ppm | 1500 ppb Re | ||
| Fortuna | LEDH19 | 0 | 89m EOH | 89m | 0.021% | 0.015% | NA++ |
| 16m | 38m | 22m | 0.054% | 0.061% | |||
| 36m | 38m | 2m | 0.243% | 0.077% | |||
| Fortuna | LEDH20 | 0 | 88m EOH | 88m | <100ppm | 0.020% | NA++ |
| Hole | UTM East | UTM North | Azimuth | Dip | Length |
| LEDH-15 | 528270 E | 3306376 N | 000 | -- 50º | 290m |
| LEDH-16 | 527935 E | 3305997 N | 180 | -- 50º | 268m |
| LEDH-17 | 528138 E | 3305560 N | 000 | -- 50º | 145m |
| LEDH-18 | 528146 E | 3305556 N | 135 | -- 50º | 211m |
| LEDH-19 | 529495 E | 3305165 N | 045 | -- 70º | 89m |
| LEDH-20 | 529468 E | 3305226 N | 000 | -- 90º | 88m |
Percussion Drilling Results -- Azul Zone**
| Location | Hole | from | to | Interval | Mo % | Cu % | Comments |
| Azul | LEPD84 | 7.5m | 25.5m | 18.0m | 0.029% | 0.032% | |
| 34.5m | 39.0m | 4.5m | 0.037% | <100ppm | Hole ends in 0.037% Mo | ||
| Azul | LEPD85 | 15.0m | 30.0m | 15.0m | 0.183% | 0.45% | Hole ends in 0.28% Mo |
| includes | 15.0m | 18.0m | 3.0m | 0.564% | 0.025% | ||
| Azul | LEPD86 | 0 | 16.5m | 16.5m | 0.102% | 0.051% | Hole ends in 0.065% Mo |
| Azul | LEPD87 | 0 | 39.0m | 39.0m | 0.122% | <100pm | Hole ends in 0.033% Mo |
| includes | 16.5m | 19.5m | 3.0m | 0.664% | <100pm | ||
| Azul | LEPD88 | 0 | 33.0m | 33.0m | 0.203% | 0.051% | |
| includes | 13.5m | 31.5m | 18.0m | 0.345% | 0.044% | ||
| 22.5m | 27.0m | 4.5m | 0.659% | 0.022% | |||
| Azul | LEPD89 | 0 | 42.0m | 42.0m | 0.065% | 0.023% | Hole ends in 0.047% Mo |
| includes | 15.0m | 42.0m | 27.0m | 0.091% | 0.020% | ||
| 33.0m | 37.5m | 22m | 0.158% | 0.020% | |||
| Azul | LEPD90 | 0 | 22.5m | 22.5m | 0.051% | 0.027% | Hole ends in 0.016% Mo |
| includes | 13.5m | 16.5m | 3.0m | 0.191% | 0.010% | ||
| Azul | LEPD91 | 0 | 42.0m | 42.0m | 0.055% | 0.035% | Hole ends in 0.085% Mo |
| includes | 16.5m | 42.0m | 25.5m | 0.078% | 0.036% | ||
| 24.0m | 25.5m | 1.5m | 0.241% | 0.093% | |||
| Azul | LEPD92 | 0 | 24.0m | 24.0m | 0.025% | 0.049% | Hole ends in 0.014% Mo |
| Azul | LEPD93 | 0 | 21.0m | 21.0m | 0.025% | 0.033% |
| Hole | UTM East | UTM North | Azimuth | Dip | Length |
| LEPD-84 | 528102 | 3305578 | 000 | -- 60º | 39m |
| LEPD-85 | 528102 | 3305578 | 135 | -- 60º | 30m |
| LEPD-86 | 528190 | 3305544 | 000 | -- 45º | 16.5m |
| LEPD-87 | 528190 | 3305544 | 000 | -- 45º | 39m |
| LEPD-88 | 528190 | 3305544 | 135 | -- 45º | 42m |
| LEPD-89 | 528245 | 3305535 | 000 | -- 45º | 42m |
| LEPD-90 | 528286 | 3305533 | 000 | -- 45º | 42m |
| LEPD-91 | 528257 | 3305497 | 000 | -- 45º | 42m |
| LEPD-92 | 528300 | 3305476 | 000 | -- 45º | 24m |
| LEPD-93 | 528335 | 3305467 | 000 | -- 45º | 21m |
Percussion Drilling Results -- Fortuna Zone**
| Location | Hole | from | to | Interval | Mo % | Cu % | Comments |
| Fortuna | LEPD75 | 3.0m | 18.0m | 15.0m | 0.042% | 0.021% | |
| includes | 3.0m | 4.5m | 1.5m | 0.204% | <100ppm | ||
| Fortuna | LEPD76 | 0 | 6.0m | 6.05m | 0.020% | 0.039% | |
| Fortuna | LEPD77 | 0 | 7.5m | 7.5m | 0.074% | 0.110% | |
| includes | 1.5m | 3.0m | 1.5m | 0.242% | 0.250% | ||
| Fortuna | LEPD78 | 28.5m | 30.0m | 1.50m | 0.177% | 100ppm | Hole ends in 0.177% Mo |
| Fortuna | LEPD79 | 0 | 1.5m | 1.5m | 0.021% | 0.018% | |
| Fortuna | LEPD80 | 16.5m | 21.0m | 4.5m | 0.0190% | 0.013% | |
| Fortuna | LEPD81 | 6.0m | 13.5m | 7.5m | 0.133% | 0.036% | |
| includes | 6.0m | 10.5m | 4.5m | 0.194% | 0.042% | ||
| 33.0m | 36.6m | 3.0m | 0.039% | <100ppm | |||
| Fortuna | LEPD82 | 31.5m | 37.5m | 7.5m | 0.019% | <100ppm | |
| Fortuna | LEPD83 | 0 | 30.0m | 30.0m | 0.022% | 0.020% |
| Hole | UTM East | UTM North | Azimuth | Dip | Length |
| LEPD-75 | 529550 | 3305161 | 020 | -- 45º | 30.0m |
| LEPD-76 | 529560 | 3305197 | 020 | --45º | 30.0m |
| LEPD-77 | 529568 | 3305201 | 020 | -- 45º | 34.5m |
| LEPD-78 | 529565 | 3305220 | 020 | -- 45º | 30.0m |
| LEPD-79 | 529576 | 3305252 | 020 | -- 45º | 36.0m |
| LEPD-80 | 529588 | 3305278 | 020 | -- 45º | 21.0m |
| LEPD-81 | 529613 | 3305269 | 020 | -- 45º | 36.0m |
| LEPD-82 | 529616 | 3305286 | 020 | -- 45º | 39.0m |
| LEPD-83 | 529644 | 3305255 | 020 | -- 45º | 30.0m |
** - Analytical Methods
- Molybdenum and Copper analyses determined by 30 element regular ICP scan with Multi-Acid digestion. IPL-International Plasma Labs, Richmond BC. Detection limit for Mo and Cu -- 1.0 ppm.
- Rhenium analyses determined by 56 element ICP_MS scan with Multi-Acid digestion. Activation Laboratories Ltd. Ancaster, Ontario. Detection Limit of 1.0 ppb Re.
++ - NA -- Drill hole samples not analyzed for Rhenium
-- Additional Rhenium results not included