Listed TSX-V: CBI
VANCOUVER, Oct. 22 /CNW/ - Colibri Resource Corporation has begun
drilling on the Leon Project, Sonora, Mexico using a track mounted percussion
drill. This project presents multiple targets including mineralization
associated with 4 separate clusters of artesanal underground mine workings.
The Amarillas, Tramado and Bellota zones are all former producing precious
metal mining camps and the Fortuna zone is a former producing
molybdenum-copper mine. 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 mineral concessions.
Soil sampling has outlined an additional drill target, the Variedad
anomaly, characterized by unusually high concentrations of molybdenum and
copper in soils. This anomaly consists of a core zone of molybdenum greater
than 100 ppm in soils approximately 1000 meters long by 500 meters wide
partially overlapped and ringed on its western side by an arcuate semi
circular anomaly of copper in soils greater than 500 ppm, more than
1500 meters long and 400 meters wide, open to the north (see
www.colibriresource.com). Gold, tungsten and iron are also strongly anomalous.
The Variedad soil anomaly does not encompass the Fortuna mine, a former
producing underground Mo plus Cu mine.
Outcrop in the area of the Variedad anomaly consists of hematite-silica
altered granodiorite intruded by dense networks of quartz-hematite veins that
commonly contain visible molybdenum. These veins range in thickness from a few
cm to 2 m, and dip steeply southwest or southeast. Areas of poor outcrop are
covered by limonite-hematite rich soils and quartz float. Rock chip sampling
by Dr. J. Nourse in September targeted the quartz veins and altered
granodiorite host. Assays of 37 rock chip samples from the Variadad anomaly
yielded molybdenum concentrations between 20 ppm and 14,908 ppm (1.49% Mo).
Average grade of these samples (excluding the one anomalous high-grade sample)
is 399 ppm (0.04% Mo). Maps posted at www.colibriresource.com reveal spatial
coincidence of the higher grade molybdenum analyses with the core of the
Variedad soil anomaly. For comparison, cutoff ore grade at the nearby El
Creston molybdenum deposit is 0.035% Mo (see evaluation report posted by
Creston Moly Corp., www.sedar.com).
An ENE-dipping detachment fault (low angle normal fault) truncates the
Variedad anomaly on its eastern side. The structural geometry and distribution
of metal assays are consistent with a zoned Cu-Mo porphyry system that has
been tilted to the WSW in the footwall of the detachment fault.
Bulldozing of roads and drill pads, begun this summer, has continued
through the fall to repair access roads destroyed by exceptionally strong
rainstorms during August and September.
Colibri has signed a contract with Landdrill International SA de CV for a
minimum 2000 meter core drilling program scheduled to begin November 1, 2007.
This diamond core program will be initiated at the Leon site and be
implemented concurrent with the percussion drilling. "We are excited to start
what will be a very aggressive exploration season for Colibri on the Leon
property," commented Lance Geselbracht, P.E., president of Colibri. "We intend
to keep drilling through Spring, 2008 at our 3 claim sites in Sonora, Mexico."
Title has been received for the Leoncito claim, an additional
2443.8 hectare mineral concession that expands the Leon project to the south,
west and north. The Leon Project now consists of approximately 5,800 hectares
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 TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.
For further information:
For further information: Visit our website at
www.colibriresourcecorp.com or call Lance Geselbracht, P.E., (604) 669-7591